The global pre-workout supplements market size is expected to reach USD 23.8 billion by 2027, registering a CAGR of 8.3% over the forecast period, according to a new report by Grand View Research, Inc. Consumers are choosing different sports activities and practices, such as exercise, yoga, and gym for healthy and fit lifestyle. These practices have increased the demand for health-related products like organic food, sports equipment, and pre-workout supplements.
Demand for pre-workout supplements in North America is higher than any other region. As per Int’l Health, Racquet and Sportsclub Association (IHRSA), in 2018 about 16% of the American population was associated with health clubs registering an increase of more than 10% in last three years. Also, as per U.S. Food and Drug Administration, three out of every four Americans regularly take a supplement resulting in strong demand for pre-workout supplements in the region.
Increasing number of health clubs and participation rate of consumers is driving the sales of pre-workout supplements in the market. For instance, as per the report by Qingcheng Tech Company, a Chinese gym operating system service provider, the number of gyms was growing at a rate of 31.1% in 2018, reaching nearly 98,000 across China.
Fear of side effects is acting as a major challenge for market growth as the pre-workout supplements are not FDA regulated resulting in increasing consciousness among consumers. Also, as per the study published by Molecular Diversity Preservation International (MDPI), 58 of the top 100 commercially available pre-workout products include at least one proprietary blend. Key players in the market are focusing on this trend and are launching new products. For instance, in July 2019, Nutrabolt a sports nutrition company launched Project Clear Evolution with a principle to produce new line of products made with no artificial flavors, dyes, fully transparent label, and no proprietary blends.
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Key players in the pre-workout supplements market are launching new products with enhanced efficiency in order to boost the revenue and maintain market share. For instance, in 2018, Stance Supplements launched MERK pre-workout supplements in two flavors brutal blue razz and strawberry death punch to sell via online and Nutrishop locations in U.S.
Also, many retailing companies in the market are focusing on increasing the number of outlets in order to increase the reach among consumers. Companies are focusing on various strategies in order to boost the market presence and eventually revenue share. For instance, in July 2019, Nutrishop announced it will not charge monthly royalty or marketing fees, resulting in increased gross sales revenue per month by around 9%.
Further key findings from the report suggest:
- By form, powder accounts for the largest market share owing to its easy availability, consumption, customization in the amount of dose, and higher absorption rate
- Ready to drink is projected to be the fastest growing segment over the forecast period owing to increasing popularity and hectic lifestyle since it does not require further mixing
- The offline segment accounts for the largest market share owing to increasing number of retail stores such as GNC, Vitamin Shoppe, Nutrishop, and Walmart
- The online segment is estimated to be the fastest growing market owing to discussion portals, discounts and offers on products, and various promotion strategies by sellers
- Some of the major players operating in the pre-workout supplements market are BSN, Finaflex, EFX Sports, Nutrex Research, SynTech Nutrition, BPI Sports LLC, Nutrabolt, JNX Sports, SAN, and eFlow Nutrition LLC.
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Key Topic Covered
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Pre-workout Supplements Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis – Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Pre-workout Supplements Market
3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Continue…
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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