The global Protein Supplement market size is projected to reach approximately $42.81 Billion by 2030, at a CAGR of 8.5% from 2022 to 2030. A healthy lifestyle is becoming a popular way of life to avoid health-related issues such as obesity, diabetes, and other diseases. There has been an increase in the number of health-conscious customers, which had propelled the demand for health-oriented products. Consumer expenditure on different types of protein supplements has surged over the years such as protein-based pediatric milk formulations, which is attributed to the increase in the disposable income of people. Protein supplements offer various health benefits such as the building of muscles, lowering blood pressure, reducing cholesterol, fighting cancer, increasing strength, and improving immunity. Protein supplements are consumed to add nutritional value to the diet. They aid in improving performance, physical fitness, and metabolism.
COVID-19 Impact Analysis
The Coronavirus pandemic has had a huge impact on production across the globe, with many countries shutting down production. This has reduced output, manufacturing, and transport of goods in these major economies. But unlike other industries, food and beverage and pharmaceutical companies have seen minimal effects to date. Most of the markets for dietary supplements are concentrated in North America and European countries. This has led to the growing demand for immune-boosting supplements in various channels, such as supermarkets, hypermarkets, food stores, and pharmacies.
The factors driving the growth of the global protein supplements market include the rising number of health and fitness centers along with consumer health consciousness. Advancement in protein-based supplements in various forms, growing popularity among millennial, and multiple health benefits offered by protein supplements further drives the growth.
⮚ Increasing Availability of Protein Supplements
The growing availability of protein supplements in retail stores is a significant factor driving the growth of the protein supplement market. Earlier, protein supplements were available only at a few select outlets, which include fitness stores, drug stores, and specific retail outlets. The consistently increasing customer base has prompted retail stores such as hypermarkets and supermarkets to stock protein supplements abundantly, thereby increasing sales. In addition to this, the easy availability of protein supplements online has also contributed to the growth of the protein supplements market considerably. The growing demand for protein supplements is due to increasing health awareness and changing demographic factors surging the youth population in countries such as the US, China, India, and Indonesia, among many others. Due to this factor, manufacturers have reinvented sports nutrition by fortifying their products with ingredients, which facilitate good health, fitness, and overall wellness. Therefore, the easy availability of protein supplements is a major factor responsible for driving the growth of the protein supplements market.
- Increasing Raw Material Prices are Threatening the Ability of Manufacturing Operations
Due to the volatility of prices of raw materials such as soybean and milk because of supply and demand constraints, there is a projected increase in protein supplement prices. Milk is a major resource for whey and casein proteins. Milk can be compared to crude oil as it goes into refineries and ends up as various goods traded around the world. Milk prices are expected to explode or plunge depending on political and economic factors. Furthermore, milk supply is subject to seasonal patterns – its production is higher during the spring because of cows’ calving habits. Consumers also follow a seasonal pattern in terms of their consumption, with the demand for fluid milk typically peaking in the fall when children return to school. However, political events can have a significant effect on prices, so it’s difficult to predict the volatility of fluid milk prices
⮚ Growing Health Benefits to Incentive new Entrants
Protein supplements offer a wide variety of health benefits such as promoting weight loss and preserving more lean muscle, anti-cancer properties, lowering cholesterol by consuming whey protein, and improving the immune response of children suffering from asthma. Furthermore, research published in the International Dairy Journal discovered that whey protein reduces blood pressure in patients suffering from hypertension significantly, and reduces their chances of developing strokes or heart disease. Thus, the numerous health benefits drive the growth of the protein supplements market.
Based on the Type, the Protein Supplement market is segmented based on Casein, Whey Protein, Egg Protein, Soy Protein, and Others. The Whey Protein segment is anticipated to account for the large market share. Whey protein powder makes up a complete protein supplement, which means those looking to build muscle and lose weight should be receiving all the necessary ingredients. Whey protein is traditionally used by athletes, bodybuilders, and other types of athletes because it helps promote overall body growth and muscle building.
Based on the Form, the Protein Supplement market is segmented based on Protein Powder, Ready Drink Liquid, and Protein Bars. The Protein Powder segment is anticipated to account for a large market share. Protein Powders have been a key component in the health and fitness industry for years. They help build & tone muscles, maintain hormones, reduce body fat, and repair bodily tissues. Moreover, the demand for these powders has increased in recent times with bodybuilders and elite athletes leading the charge.
Based on Source, the global Protein Supplement market has been divided into Animal-Based and Plant-Based. The Animal-Based segment is expected to hold the largest market share. Animal-based proteins are the most consumed sources of protein and they are usually complete – they contain all the essential amino acids. Whey and casein were the most consumed.
By Distribution Channel
Based on Distribution Channel, the global Protein Supplement market has been divided into Hypermarkets/supermarkets, Online, Chemist/ Drugstore, Nutrition stores, Health Food stores, Specialist Sports stores, and Others. The Online segment is expected to hold the largest market share. The increasing use of the internet for shopping and various other conveniences, as well as higher discounts, has led to a noticeable increase in the sales of protein supplements in online stores.
Based on Application, the global Protein Supplement market has been divided into Sports Nutrition and Functional Foods. The Sports Nutrition segment is expected to hold the largest market share. Protein supplements are applied extensively in sports as dietary supplements as they are consumed by professional athletes, sportsmen, and bodybuilders. Due to the exposure in supermarkets and convenience stores, the demand for sports nutrition products will go up. These products are typically consumed by people who have a specific lifestyle or recreational interest in sports and fitness.
Based on region, the global Protein Supplement market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to dominate the use of the Protein Supplement market followed by the Asia-Pacific and Europe regions.
North America Market
North America dominates the protein supplement market due to the rapid increase in demand for sports nutritional supplements. In addition to this, the abundant supply of raw materials enables the key players in the region to conduct production on a large scale. The rising number of health-conscious customers, the constant growth of the US health & fitness industry, and the rising demand for healthy food additionally contribute to the growth of the protein supplement market in the North American region.
The Asia Pacific is expected to witness the highest growth during the forecast period, which is attributed to rising costs of public healthcare systems, growing consumer focus on preventive healthcare, changing eating habits, and westernization of diet further contributing to the growth of the protein supplement market. Moreover, the penetration of organized retail and the increasing middle-class population also fuel the growth of the market. Furthermore, increasing willingness to spend money along with rising living standards aids the growth of the protein supplement market.
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as 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, lead the global Protein Supplement business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
- Glanbia Plc
- AMCO Proteins
- Quest Nutrition
- NOW Foods
- The Nature’s Bounty Co.
- MusclePharm Corp
- Cyto Sport, Inc.
- IOVATE Health Sciences International, Inc.
- Transparent Labs
In November 2019, AMCO Proteins launched an innovative clean label dough conditioner called HG- 80. It is enzymatically hydrolyzed vital wheat gluten which is naturally rich in peptide-bonded glutamine. As a functional protein, HG- 80 is heat and pH stable along with being highly water-soluble. HG- 80 offers functional benefits at lower usage rates to various baked products such as flour tortillas, bread, cookies, rolls, crackers, pizza crusts, and flatbreads.
Scope of the Report
Global Protein Supplement Market, by Type
- Whey Protein
- Egg Protein
- Soy Protein
Global Protein Supplement Market, by Form
- Protein Powder
- Ready To Drink Liquid
- Protein Bars
Global Protein Supplement Market, by Source
Global Protein Supplement Market, by Distribution Channel
- Hypermarket/ Supermarket
- Chemist/ Drugstore
- Nutrition Store
- Health Food Store
- Specialist Sport Store
Global Protein Supplement Market, by Application
- Sports Nutrition
- Functional Foods
Global Protein Supplement Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
|Market Size||2030: $42.81Billion|
|CAGR||8.5% CAGR (2022-2030)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Segmentations||Type, Form, Source, Distribution Channel, and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, Latin America, Middle East, Africa|
|Key Vendors||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|
|Key Market Opportunities||Growing Health Benefits to Incentive new Entrants|
|Key Market Drivers||Increasing Availability of Protein Supplements|
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Protein Supplement market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Protein Supplement market historical market size for the year 2020, and forecast from 2021 to 2028
- Protein Supplement market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Protein Supplement market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Global Protein Supplement Market FAQs
1. What is the study period of this market?
● The study period of the global Protein Supplement market is 2020 – 2030
2. What is the growth rate of the global Protein Supplement market?
● The global Protein Supplement market is growing at a CAGR of ~ 8.5% over the next 7 years
3. Which region has the highest growth rate in the global Protein Supplement market?
● Asia Pacific is expected to register the highest CAGR during 2022 – 2030
4. Which region has the largest share in the global Protein Supplement market?
● North America holds the largest share in 2021
5. Who are 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 are the major companies operating in the global Protein Supplement market.
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● Yes, we offer 16 hours of analyst support to solve the queries
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