When you buy a tub of Optimum Nutrition, you're giving money to Glanbia, an Irish publicly-traded group. When you order from Myprotein, you're feeding THG, a British e-commerce group. And now when you buy Huel, you're contributing to Danone's revenue. The sports nutrition market — $45B globally in 2026 — is controlled by a surprisingly small number of groups. Here's the map.
The 6 Major Groups Controlling the Market
1. Glanbia (Ireland, NYSE/Euronext listed) 2025 sports nutrition revenue: ~$1.6B. Brands: Optimum Nutrition (acquired 2008), BSN, Isopure, Amazing Grass, SlimFast. Strategy: global consolidator via successive US brand acquisitions.
2. Nestlé Health Science (Switzerland) 2025 revenue: ~$2.1B. Brands: Vital Proteins, Garden of Life, Orgain, Nuun, Atkins. Strategy: pivot toward mass-market health nutrition — less whey powder, more collagen, plant nutrition, wellness supplements.
3. THG (The Hut Group, UK, LSE listed) 2025 revenue: ~£1.9B total (~50% nutrition). Brands: Myprotein (European e-commerce sports nutrition leader), Myvitamins, Myvegan. Strategy: vertical D2C integration. Myprotein is Europe's most sold brand by units.
4. Danone (France, post-Huel acquisition April 2026) Brands: Huel (April 2026, $1.05B), Volvic, Nutricia. Strategy: diversification into mass-market functional nutrition. Huel is Danone's bet on the future of complete meal replacement.
5. Kerry Group (Ireland): B2B supplier — proteins, flavors, texturization systems for the supplement industry. Likely in the supply chain of most brands you consume.
6. Iovate Health Sciences (Canada, Permira owned): MuscleTech, Six Star, Hydroxycut. Strong mass-market distribution (supermarkets, pharmacies) in North America.
Independent Brands Still Standing (For Now)
Applied Nutrition (UK): founded 2014, organic growth via fitness content partnerships. Estimated value: £150-200M. Recurring acquisition rumors (Glanbia, THG as potential buyers).
Bulk (UK): rebranded from Bulk Powders in 2021. PE-backed (Piper). Strong in continental Europe. Probable PE exit (IPO or acquisition) 2026-2027.
Science in Sport (SiS, UK, AIM listed): cycling and endurance specialist. Team Ineos, Team Jumbo-Visma partnerships. Low market cap despite strong reputation — potential acquisition target.
Independence ≠ permanent independence: in the current consolidation cycle, high-growth independent brands are natural targets for major groups seeking assets in functional nutrition.
What This Concentration Changes for Consumers and Coaches
For consumers: the ownership nationality doesn't directly change product quality — recipes and manufacturing processes generally remain stable post-acquisition (at least for 2-3 years). Increased sector concentration reduces competitive pricing pressure long-term.
For coaches recommending brands: brand recommendations tie your reputation to that brand's quality. Consolidation creates silent formula or quality change risk without prior notification (legally permitted in the industry). Practical recommendations: - Diversify recommended brands by product category - Prioritize brands with third-party certifications (Informed Sport) — certifications attach to the product, not the parent brand - For whey and protein: major brands like ON (Glanbia) and Myprotein (THG) have solid quality protocols and regular audits - Stay informed on acquisitions: a premium boutique brand acquired by a major group may see its formula modified to reduce costs within 24-36 months post-acquisition
The global sports nutrition market is controlled by 4-6 major groups that collectively own most of the brands you know. Consolidation will continue — expect 3-5 more major acquisitions by 2028 per analysts. For consumers: product certification remains more reliable than brand loyalty. For coaches: recommend based on documented quality, not marketing.