The global Protein Supplement market is estimated to record a CAGR of around 8.5% during the forecast period
Evolve Business Intelligence has published a half-cooked research report on the Global Protein Supplement Market, 2021–2030. The global Protein Supplement market is projected to exhibit a CAGR of around 8.5% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global Protein Supplement market: Glanbia Plc, AMCO Proteins, Quest Nutrition, NOW Foods, The Nature’s Bounty Co., MusclePharm Corp, Abbot, Cyto Sport, Inc., IOVATE Health Sciences International, Inc., and Transparent Labs.
Market Highlights
The global Protein Supplement market is projected to be valued at $42.81 Billion by 2030, recording a CAGR of around 8.5% during the forecast period. Protein supplements are a kind of nutritional and bodybuilding supplement that bodybuilders and sports athletes use to increase their diet and increase their protein consumption without significantly increasing the amount they consume in carbs or other kinds of accompanying nutrients. They work to offset nutrient deficiencies, provide energy, and prevent muscle loss while exercising. Supplements that are comprised of protein are popular because they contain higher amounts than other sources when consumed directly.
The COVID-19 pandemic has caused unprecedented outbreaks of infections which prompted consumers to take a more keen interest in their diet and overall health. This has fueled an increase in the protein supplement market which is benefitting from this newfound awareness. In addition, the Chinese CDC has issued nutritional guidelines which include a recommendation of 150-200 grams of protein per day (around 1.5-2.0g/kg body weight) for patients affected with COVID-19.
Segmental Analysis
The global Protein Supplement market has been segmented based on the Type, Form, Source, Distribution Channel, Application, and region.
By Type, the Protein Supplement market is segmented based on Casein, Whey Protein, Egg Protein, Soy Protein, and Others. The Whey Protein segment dominates the market. The growth of this segment can be due to the increasing penetration of e-commerce websites and online stores, which lets users buy their desired products through one application.
Based on Form, the Protein Supplement market is segmented based on Protein Powder, Ready Drink Liquid, and Protein Bars. The Protein Powder segment is anticipated to hold the largest market Product demand for protein powder from professional athletes, bodybuilders, and fitness enthusiasts are expected to grow over the last five years.
Based on Source, the Protein Supplement market is segmented based on Animal-Based and Plant-Based. The Animal-Based segment is anticipated to hold the largest market owing to several factors. The segment includes both meat and dairy proteins, which are considered complete proteins because they contain all of the essential amino acids
Based on Distribution Channel, the Protein Supplement market is segmented based on hypermarkets/supermarkets, Online, Chemist/ Drugstore, Nutrition stores, Health Food stores, Specialist Sports stores, and Others. The Online segment is anticipated to hold the largest market share. Online shopping has become a preferred method of shopping due to the wide selection and ease of use. Many online stores now have an accessible global presence, making them more successful than ever.
Based on Application, the Protein Supplement market is segmented based on Sports Nutrition and Functional Foods. The Sports Nutrition segment is anticipated to hold the largest market. The growing demand for sports nutritional supplements to help boost lean muscle growth, improve performance and increase weight loss is expected to contribute positively to the growth of the industry over the next several years.
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Regional Analysis
The Protein Supplement market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The North American region is projected to dominate the global Protein Supplement market. Functional foods and sports nutrition are the major distribution channels of the North American food market, primarily due to the rising awareness of fitness among U.S., Canada, and Mexico consumers. The Asia-Pacific region is expected to grow at the highest CAGR over the forecast period. Demand for protein supplement options will be rising in the APAC region due to the trend in snacking options, especially given price point affordability. A good example is India, where people are eating on the go and don’t have time to cook a sack lunch. China is an emerging country that has seen a steady rise in demand for these products. With health awareness rising in Europe, the need for functional food is expected to grow significantly over the next few years. The presence of major manufacturers, such as Glanbia plc, Bulk Powders Co., Ultimate Nutrition, Inc., and PowerBar Europe GmbH in the region is expected to drive the demand for protein supplement products. The Middle East and Africa are regions with enormous potential for investment in the Protein Supplement Sector. The developing economies project a steady growth over the forecast period.