New York, US, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Protein Supplements Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), "Protein Supplements Market Information by Source, Form, Distribution Channel and Region - Forecast till 2030", the market is projected to present a 8.6% CAGR to reach USD 42.84 Billion by 2030
Market Scope:
Protein supplements are essential since they add to the nutritional value of the food and help meet the body's basic protein needs. Taking a protein supplement might boost your metabolism. It's a win-win because you get to work out more efficiently and boosts your fitness levels at the same time. It can be taken either after an exercise to help you recover faster or before a workout to give you more energy to power through. Protein insufficiency is a major contributor to health problems and consuming enough of the nutrient can help stave off illness.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 42.84 Billion |
| CAGR | 8.6% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Source, Form, Distribution Channel and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising Health Consciousness |
| Growing Number Of Fitness Centers And Health Clubs |
Competitive Dynamics:
Major companies in the global protein supplement market utilize tactics like mergers and acquisitions, partnerships and collaborations, new product innovations, improved manufacturing processes, and the formation of joint ventures to increase their market share and appeal to a wider audience. The most prominent major key players in the protein supplements market are as follows:
- Nature’s Bounty Co. (U.S.)
- Glanbia Plc (Ireland)
- Herbalife Nutrition Ltd. (U.S.)
- GlaxoSmithKline Plc (U.K.)
- Abbott Laboratories (U.S.)
- Amway Corp (U.S.)
- GNC Holdings, Inc. (U.S.)
- Vitaco Health Group (New Zealand)
- Living Essentials Marketing, LLC (U.S.)
- Garden of Life, LLC (U.S.)
Market USP:
Market Drivers
An increase in international interest in protein powders and other dietary supplements. Increasing consumer demand for protein supplements, along with widespread product availability, is fueling growth in this industry worldwide. In the early days of the protein supplement's introduction, it was sold only in specialty stores like health food stores, sports nutrition shops, and pharmacies. Today, however, the rising demand for protein supplements has caused them to become widely available in grocery stores, hypermarkets, and even online. Protein supplements are growing in popularity because of their ability to treat and prevent issues including obesity, low immunity, and malnutrition, all of which are on the rise.
The global market for this product is expected to expand at a rapid clip over the next several years. The global market for protein supplements is experiencing rapid expansion thanks to rising health consciousness and changes in consumer behavior. Increases in the proportion of young people in the populations of many nations, who tend to have a high per capita use of protein supplements, also bode well for the worldwide market for such products.
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Market Restraints
Although the global market for protein supplements is expanding at a rapid clip, its expansion is being hampered by a number of problems. Since protein supplements are out of reach for the majority of the world's middle class, the industry as a whole has been hampered by their prohibitively high price. The rising popularity of veganism is also expected to slow the expansion of the global market for animal-based protein supplements during the next years.
COVID-19 Analysis:
As a result of the widespread disruptions to daily life caused by the COVID 19 epidemic, economies around the world have been plunged into recession. Due to this, people are stuck in a bind between health problems and financial difficulties. As a result of the lockout and its aftermath, the supply chain network for protein supplements was severely disrupted, leading to a precipitous decline in market income.
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Market Segmentation:
Based on the Source
Protein from animals is the most popular kind because of its great nutritious value and widespread application. Positive growth is also being seen in the global market for protein supplements derived from plant sources.
Based on the Form
The powder segment is expected to record the highest growth over the review period.
Based on the Application
The sports nutrition segment is poised to rise at a notable CAGR over the assessment period.
Based on the Distribution Channel
The store-based segment is expected to acquire substantial growth over the review period.
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Regional Analysis:
Because of the influence of countries like the United States and Canada, the North American area holds the highest proportion of the global market. Growing product expertise and customer interest in health and wellness are two factors that are likely to fuel the market. Demand for protein supplements is predicted to grow in the region as a result of rising incomes and an increased focus on health.
Because of enormous populations in nations like China, India, Japan, and South Korea, the demand for protein supplements is high in this area, giving it the second-largest proportion of the global market. After Asia and Latin America, Europe has the world's third-largest market share. The rising middle class in developing countries is largely responsible for the region's burgeoning appetite for RTD dietary supplements. The protein supplement market in Asia and the Pacific is predicted to rise in the next years as a result of shifting customer preferences brought on by increased health and wellness consciousness.
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Plant Protein Ingredients Market Research Report: Information by Source (Soy, Wheat, Pea, Rice, Potato and others), Form (Dry and Liquid), Application [Food & Beverages (Bakery & Confectionery, Dairy & Frozen Desserts, Beverages, Meat Alternatives, Dietary Supplements and others), Pharmaceuticals & Nutraceuticals, Animal Feed and Personal Care] and Region (North America, Europe, Asia-Pacific and RoW) - Forecast till 2027
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
