Market Definition
Sports nutrients include food products made using ingredients such as vitamins, minerals, vegetable starch, protein, etc., specially designed for athletes & bodybuilders to help them enhance their overall health & performance during their intense workouts by improving their nutritional intake. Thus, sports nutrition is a broad interdisciplinary field that focuses on the science behind & application of proper nutrition during exercise or athleticism.
Market Insights
The Mexico Sports Nutrition market is projected to grow at a CAGR of around 1.53% during the forecast period, i.e., 2022-27. The Mexico Sports Nutrition market witnessed considerable growth during 2017-2019, owing to the rising awareness among the residents & increased emphasis of the government to promote the adoption of a healthy lifestyle to overcome the growing prevalence of obesity among the residents. Sedentary lifestyles & consumption of ultra-high processed foods rich in sugar, salt, and calories are the prime factors contributing to a major share in mortality rates in the country. According to OECD, around 73% of Mexicans are overweight, with over 34% being morbidly obese, leading to a significant increase in illnesses such as diabetes & cardiovascular diseases.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 1.53% |
| Key Companies Profiled | Abbott Laboratorios de México SA de CV, MusclePharm Corp, Iovate Health Sciences International Inc., Glanbia SA de CV, Herbalife Nutrition, Pronat SA de CV, Twinlab Corp, Hombreave SA de CV, Weider Global Nutrition, Universal Nutrition Inc., Others |
| Unit Denominations | USD Million/Billion |
Furthermore, to cope with the unprecedented crisis & reduce mortality rates in the country, the National Commission of Physical Culture and Sports announced the National Development plan in 2019 to promote a healthy lifestyle, exercise, sports activities, etc. This contributed to the demand for healthy dietary supplements in the country. Moreover, various state governments across Mexico made enormous contributions to promoting the national initiative.
Key Trends in the Market
The shift in consumer preference from buying products through direct sales to online is anticipated to be a key trend in the Mexico Sports Nutrition market. This was majorly attributed to the outbreak of COVID-19 in 2020. Furthermore, due to pandemics, the Mexican government encouraged the citizens to stay at home, which led to a shift in consumer purchasing habits from offline to online, with a preference for home deliveries.
In addition, the channel has been boosted by the fact that sports nutrition products are now available from an increasingly wide array of online sources. These not only include pure-play e-commerce retailers such as Amazon & Linio, and the online sales portals of store-based chains such as GNC & Walmart, but also specialist websites such as suplementosfitness.com.mx, captainnutrition.mx & nutritiondepot.com.mx.
Another factor driving the online demand is that specialist websites often carry direct imports, which are not available via more mainstream channels. Despite this, the increasing adoption of e-commerce channels by consumers for purchasing products has resulted in a double market share in 2020 & a steep rise was shown in 2021. Therefore, it is expected that this growing trend would further prevail in the upcoming years.
Impact of COVID-19 on Mexico Sports Nutrition Market
The outbreak of COVID-19 in 2020 resulted in enormous fundamental uncertainties related to health & macroeconomics as well as interrupting commercial & economic activity. Sports nutrition sales in Mexico were negatively affected by the pandemic in the first quarter of 2020 due to fewer visits to stores, hence, the demand was decreased. The outbreak also affected the 2020 sports events in the country & disrupted the program. There was a delay & cancellation of sports events like Concacaf Champions League, Ascenso MX, and Women's League 2020.
Consequently, resulting in decreased sales of sports supplements & sports nutrition such as protein bars, probiotics, whey proteins, creatine, etc. In addition, the temporary closure of gyms & fitness centers due to the health contingency derived from the COVID-19 in the country created drastic short-term changes to the Sports Nutrition market in 2020.
Further, in the latter half of 2020, the growing apprehensions of the population regarding their health increased their dependence on the usage of plant-based products & clean label products, which positively impacted the country's Sports Nutrition market. As per the Herbalife Nutrition report, the net sales in Mexico sports nutrition products in 2020 increased by 4.1%. This led the other product segments such as sports supplements & sports food upward in the latter half of 2020. In 2021, with the growing business environment, the setup of new fitness centers, gyms, and the opening of retail stores are anticipated to further escalate the market growth.
