South America Sports Nutrition Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Formulation, and Distribution Channel

The SAM sports nutrition market is expected to grow from US$ 2,153.97 million in 2022 to US$ 3,232.14 million by 2028. It is estimated to grow at a CAGR of 7.0% from 2022 to 2028.

Manufacturers in the SAM sports nutrition market are ramping up their R&D efforts to come up with plant-based nutrition products. Several plant-based products have been introduced in recent years. For instance, in May 2020, Danone made its Vega One plant-based protein products commercially available, with the Vega One Sport designed for sports enthusiasts. The product contains a mix of proteins derived from different sources, including pumpkin seeds, alfalfa, sunflower, and peas. Similarly, in March 2020, Myprotein, a sports nutrition brand, launched a precise plant-based protein shake. The Clear Vegan Isolate, which comes in powdered form, is available in two flavors: Coconut & Mango and Pear & Ginger. Thus, with the growing trend of consuming sports nutrition products to address mineral and vitamin deficiencies, the launch of plant-based nutrition products to meet the requirements of vegan populations in different countries is expected to boost the sports nutrition market growth in the coming years.

Market Overview

The SAM sports nutrition market, by country, is segmented into Brazil, Argentina, and the rest of SAM. Brazil dominated the market in 2022. The sports nutrition market in Brazil has observed significant progress in the last few years due to the growing number of gyms, fitness centers, and sports centers in the region. Brazil has the second-largest number of gyms across the region, followed by Mexico. The development of government regulations and increasing demand for health & wellness propel the market growth. The introduction of new regulations for dietary supplements by the National Sanitary Surveillance Agency (ANVISA) in 2018 allows new brands to enter the market easily. It also helps existing brands grow at a significant rate. Additionally, the traditional local brands are likely to show little deviation from the ongoing market strategy, mainly due to uncertainty about “making new releases in the contentious environment”. In addition, the introduction of plant-based products paved a new way for the players in the sports nutrition market. Integralmédica, one of Brazil's leading companies in the sports nutrition category, has been witnessing growth due to the success of its launches of different brands targeting specific niches within the category. Thus, the factors mentioned above augment the growth of the market.

SAM Sports Nutrition Market Segmentation

The SAM sports nutrition market is segmented based on type, formulation, distribution channel, and country.

• Based on type, the SAM sports nutrition market is segmented into sports supplements, sports food, sports drinks, and others. The sports supplements segment held the largest market share in 2022. The sports supplements segment is further segmented into protein supplements, vitamins, minerals, and others. Similarly, sports food segment is categorized into protein bars, energy bars, and energy gels. Further, sports drinks segment is categorized into hypotonic, isotonic, and hypertonic.
• Based on formulation, the SAM sports nutrition market is segmented into powder, tablets, capsules, and others. The powder segment held the largest market share in 2022.
• Based on distribution channel, the SAM sports nutrition market is segmented into convenience stores, supermarkets and hypermarkets, specialty stores, and others. The convenience stores segment held the largest market share in 2022.
• Based on country, the SAM sports nutrition market has been categorized into Brazil, Argentina, and rest of SAM. Our regional analysis states that Brazil dominated the market in 2022. Abbott; Clif Bar & Company.; Glanbia Plc; GNC Holdings Inc.; Lovate Health Sciences International Inc.; MusclePharm Corporation; PepsiCo Inc.; The Coca-Cola Company; and Yakult Honsha Co., Ltd. are the leading companies operating in the SAM sports nutrition market.