September 16, 2022

Read in Browser

Front Office Sports Pro

Happy Friday!

Pro is back this week with a Report on the booming sports nutrition market.

As always, we are looking for feedback on the Pro platform. Fill out our quick survey and let us know how we can improve the product for you.  

If you have any comments, please drop us a note!

Why Sports Nutrition Is a Booming Market

Shutterstock

According to an article published in the American Journal of Preventive Medicine, approximately 51% of the U.S. population is estimated to be categorized as obese by 2030.

During the pandemic, some research also found higher mortality rates and an increased probability of severe COVID-related outcomes among people with unhealthy lifestyles.

With this increased interest in healthy and active lifestyles, it’s no wonder that the fitness and wellness market has expanded in kind. Intersecting subsegments of the health and wellness markets have also seen growing demand, including connected fitness, wearables, tracking devices — and sports nutrition.

According to estimates from Precedence Research, the global sports nutrition market was valued at $44.43 billion in 2021, is expected to top $47.79 billion in 2022, and could reach $85.7 billion by 2030 at a compounded annual growth rate (CAGR) of 7.57%.

There has been a longstanding debate about the efficacy of the different supplements used for sports and fitness, but that hasn’t stopped the industry from selling millions of such products yearly to athletes and fitness enthusiasts.

The pandemic temporarily diminished the sports supplements market growth due to the closure of fitness centers, social distancing, and a reduction in sports competitions. Nevertheless, it helped the industry boost its transition to digital sales as consumers shifted to safer ways to shop.

Some restraining factors for market growth in the supplements sector are the high costs of the products and the different side effects that some supplements could cause. But as technology and science evolve in the wellness industry, we could expect higher degrees of product personalization that fits any athlete’s needs at lower costs.

Want to learn more? Check out the full sports nutrition report here.

ICYMI: Last week, we published a new Report on how inflation impacts live events. You can access that report and our entire catalog of research at Pro HQ.

Deal Tracker

Deal Tracker

This week’s Pro Deal Tracker highlights: 

  • Mental health company Headspace Health agreed to buy wellness app Shine for an undisclosed amount
  • California-based decentralized gaming ecosystem Gameplay Galaxy raised $12.8 million in seed funding led by Blockchain Capital
  • SharpLink Gaming acquired SportsHub Games Network, a fantasy and sports game provider for an undisclosed amount
  • Personalized nutrition company Rootine raised $10 million in a Series A round led by Relevance Ventures
  • AI nutrition and wellness platform InsideTracker raised $15 million in a Series B round led by PeakBridge
  • DTC running shoe startup Hilma raised an additional $3 million seed round led by Brand Foundry Ventures
  • Kollektiv, the athlete training app, raised a $1.5 million pre-seed round co-led by Ugly Duckling Ventures and VF Ventures
  • Tonal, the home fitness business, is raising over $100 million in financing at a $1.9 billion valuation

Try out the full Deal Tracker.

Advertise Awards Learning Events Video Shows
Written by Ronen Ainbinder
Edited by Brian Krikorian

If this email was forwarded to you, you can subscribe here.

Update your preferences / Unsubscribe

Copyright © 2022 Front Office Sports. All rights reserved.
460 Park Avenue South, 7th Floor, New York NY, 10016

Subscribe To Our Daily Newsletters

  • This field is for validation purposes and should be left unchanged.