New York, USA, Sept. 27, 2022 (GLOBE NEWSWIRE) -- The Global Protein Powder Market Size Was Valued At USD 4.4 Billion In 2021. The Market Is Projected To Grow USD 19.3 Billion In 2030, At A CAGR Of 4.52%. as per the latest research report by Spherical Insights & Consulting.
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Changing lifestyles, urbanization, and evolving consumer dietary choices have resulted in increased demand for nutritious food items, which is expected to drive market statistics. The market outlook is likely to be boosted further by a favorable perspective toward functional food intake due to increased prevalence of cardiovascular diseases and the number of weight management programmers. Because the population in Europe, the United States, and Japan is getting older, customers are looking for a variety of nutritional supplements to help them improve and maintain their overall health and well-being. The global market for protein powders is experiencing an increase in demand. The increased demand for protein powders, as well as their availability in retail stores, contribute to the global market's sales growth. Protein supplements were previously only available at specific outlets such as fitness stores, specific retail stores, and drugstores, but now that demand for protein powders is increasing, they are available in supermarkets, hypermarkets, and even online stores, driving this market in the global market.
There has been an increase in the number of health-conscious customers around the world in recent years. They are on the lookout for ways to live a healthy and active lifestyle, which has spurred the demand for health-conscious foods. As a result, protein powders enjoy the same level of popularity throughout North America, Europe, and Asia-Pacific. Obesity, food sensitivity, and the number of individuals affected by diseases are all on the rise, therefore living a healthy lifestyle is becoming a typical way of life. The constantly changing lifestyle, as well as the expanding popularity of whey as sports nutrition for athletes and bodybuilders, are driving the growth of the protein powders industry. The growing popularity of protein powders among millennials, as well as the rapid development of innovative protein-based supplements in various forms, which are associated with various health benefits of the product, are driving the overall demand for protein powders market over the forecast period of 2021 to 2028. Furthermore, the growing relevance of an active lifestyle, as well as increased knowledge of the health advantages of protein, is a major driver of the worldwide protein powders market. Furthermore, the fast-paced lifestyle and growing health consciousness are both contributing factors.
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Because of the growing animal feed sector and greater consumer awareness about animal health, the North American protein powder market is expected to rise at a healthy rate. Major corporations are investing in the launch of new products for both domestic and international markets. Mexico is one of the world's top producers of animal feed, resulting in significant demand for protein powder. The important drivers impacting the market expansion for protein powder in North America include increased domestic consumption of animal nutrition products, the introduction of new technologies, and the incorporation of healthy ingredients in animal feed.
Protein Powder Market: Competitive Landscape
Partnerships, strategic mergers, and acquisitions are expected to be the most successful strategies for industry participants to get speedy access to growing markets while also improving technological capabilities. For example, In 2018, Glanbia introduced BevEdge technology, which allows manufacturers to eliminate lecithin from their products. Whey, milk, casein, and pea are just a few examples of animal and plant-based products that can benefit from this technology. in July 2019, Nestlé and Corbion signed a cooperative development agreement to assist create algae-based products that are high in vitamins and protein.
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Key Players: ABH Pharma Inc, Amway, Herbalife International of America, Inc Abbott, Glanbia Group, Makers Nutrition, GlaxoSmithKline, GNC Holdings Vitaco Health, Living Inc, Omega Protein, Atlantic Multipower UK Limited, Melaleuca Inc, Dalblads and Others.
Browse key industry insights spread across 200 pages with 119 market data tables and figures & charts from the report “Global Protein Powder Market Size, By Source (Animal-Based, Plant-Based), By Product (Protein Powder, Ready-To-Drink, Protein Bars & Others), By Application (Sports Nutrition & Functional Food), By Distribution Channel (Supermarket/Hypermarket, Online, Drugstore, Nutrition & Health Food Store & Others); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2021-2030”, in detail along with the table of contents
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