Sports nutrition had been experiencing solid growth prior to the emergence of the pandemic, due to the increase in gym memberships in Greece over the review period linked to more affordable pricing. Most gyms now offer low-cost schemes with long-term subscriptions in line with an increase interest in health and fitness, which is part of the health and wellness megatrend.
The dominant distribution channel for sports nutrition, non-grocery specialist retailers, was already starting to lose ground to e-commerce towards the end of the review period due to the latter’s competitive prices, but this trend was strengthened by the emergence of COVID-19 and lockdown as consumers headed online to take advantage of home delivery rather than visit store-based retailers during the pandemic. E-commerce also tends to offer a broader variety of products than can be found in store-based specialist retailers, while an increasing number of Greeks had taken to ordering from foreign online shops in order to benefit from lower VAT.
The competitive landscape of sports nutrition in Greece is set to becoming increasingly fragmented in 2020, with share gain predicted for smaller players under “others”, a trend driven by increasing availability online, with e-commerce enabling smaller or lesser known names to find an audience. Nevertheless, leading players X-Treme Stores SA and Nutrend DS as are predicted to consolidate their positions in 2020 due to their notable presence in the largest value category of sports protein powder with their respective brands Warriorlab Complete and Nutrend 100% Whey Protein, although X-Treme Stores offers a wider portfolio.
While there is likely to be some price sensitivity coming out of lockdown and a hesitancy to return to gyms as soon as they reopen if the virus is still in circulation, demand for sports nutrition is set to improve in 2021 compared to 2020 as consumers look to return to their health and fitness goals after an unstable year during the pandemic. However, exercise regimes could also take the form of running or cycling rather than, or in addition to, bodybuilding, particularly if Greeks discovered new forms of exercise during the lockdown.
Sports protein powder is predicted to remain the largest value category within sports nutrition over the forecast period, given that it has not yet reached maturity. Sports protein powder has a wider consumer base and Greeks are more familiar with these products than other formats or types of sports nutrition.
Following significant share gain in 2020 during lockdown, e-commerce is likely to continue to build on its growth momentum over the forecast period. While some consumers are likely to return to specialist outlets such as X-Treme Sports which they trust, or purchase through vending machines located in sports centres or gyms once they eventually return to their normal routines, greater exposure to e-commerce during the lockdown for some Greeks is likely to have proven a positive experience in terms of finding a wider range of products and brands, in addition to competitive prices and the opportunity to have them delivered to their homes.
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Understand the latest market trends and future growth opportunities for the Sports Nutrition industry in Greece with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Sports Nutrition research and analysis database.
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