Newark, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 24 billion in 2022 global protein supplements market will reach USD 47.21 billion in 2032. Protein minimizes muscle loss, increases muscular leanness, and aids in weight loss and control. Furthermore, proteins control immunological function, metabolism, and brain functioning. Legumes, chickpeas, and beans, as well as animal protein from poultry and dairy products, are natural protein sources. Protein powder has seven varieties: whey, egg, soy, rice, hemp, pea, and mixed protein. Taking a protein supplement is an option in place of natural sources. It can be eaten as a protein smoothie, bar, or powder. There are protein supplements made from both plants and animals. Protein supplements work just as well to support tissue repair, hormone and enzyme production, and muscular building.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 24 Billion |
| Market Size in 2032 | USD 47.21 Billion |
| CAGR | 7% |
| No. of Pages in Report | 237 |
| Segments Covered | Source, Product Type, Distribution Channel |
| Drivers | The increasing awareness about nutrition and health |
| Opportunities | The introduction of new varieties |
| Restraints | The high cost of protein supplements |
Key Insight of the Global Protein Supplements Market
North America will dominate the market during the forecast period.
Given social media's growing importance in the area, the fitness business is expanding. Protein supplement manufacturers' sales have expanded dramatically in the regional market due to the growing presence of social media influencers and fitness enthusiasts, as well as partnerships and collaborations with these companies. The growing number of gyms, fitness centres, and other sports facilities also fuels the expansion of the market.
In 2022, the animal-based segment dominated the market with the largest market share of 57% and market revenue of 13.68 billion.
The source segment is divided into animal-based, plant-based and others. In 2022, the animal-based segment dominated the market with the largest market share of 57% and market revenue of 13.68 billion.
In 2022, the powder segment dominated the market with the largest market share of 44% and market revenue of 10.56 billion.
The product type segment is divided into powder, ready-to-drink beverages, bars and others. In 2022, the powder segment dominated the market with the largest market share of 44% and market revenue of 10.56 billion.
In 2022, the supermarkets/hypermarkets segment dominated the market with the largest market share of 45% and market revenue of 10.80 billion.
The distribution channel segment is divided into supermarkets/hypermarkets, convenience stores, online and others. In 2022, the supermarkets/hypermarkets segment dominated the market with the largest market share of 45% and market revenue of 10.80 billion.
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Advancement in market
According to a recent customer survey by Prinova (London), vitamins and plant protein are the most sought-after elements in sports nutrition products. In five of the largest sports nutrition markets in Europe—France, Germany, Italy, Spain, and the UK—the company polled 1277 consumers. These customers utilized sports nutrition products at least once in the previous year and were physically active, working out twice a week. At 64%, vitamins were the most sought-after element in sports nutrition, followed by minerals (38%), plant proteins (42%), whey/dairy proteins (26%), amino acids (22%), and miscellaneous ingredients. According to the September-released "State of Play: New Insights into the Changing Sports Nutrition Market" research, athletes who participate in endurance training are particularly fond of vitamins and minerals.
Market Dynamics
Driver: The growing consciousness of health and nutrition.
Many people reevaluated their lifestyle choices and made sustainable, healthful changes due to the COVID-19 epidemic. These improvements improved their general well-being. This shift is mostly due to social media since there is an increasing amount of content being created and consumed about fitness, nutrition, and healthy living. Protein supplements, such as protein powders, shakes, smoothies, and bars, gained popularity because of their high nutritional content and capacity to help with weight loss, muscle growth, retention, and recuperation. The market for protein supplements was further stimulated by the launch of numerous companies offering a wide range of options with varying tastes, packaging, and ingredients. Market expansion was aided by the marketing efforts of industry participants, particularly through social media partnerships with fitness influencers. Thus, the market will rise as more people become aware of protein supplements and their general benefits for physical health.
Restraints: protein supplements are expensive.
Premium protein supplements are pricey. Most people cannot acquire or afford high-quality, genuine, and effective protein supplements due to their high cost. Furthermore, since natural sources of protein are more abundant and more reasonably priced than supplements, people prefer to get their protein from them. Therefore, the market's expansion will be constrained by the high cost of protein supplements.
Opportunities: new products.
To close this market gap, market players have introduced vegan and plant-based protein supplements. The growing acceptance of veganism and vegetarianism as a component of lifestyle adjustments or environmentally concerned decisions has pushed these movements. Thus, during the projection period, there will be profitable chances to launch new plant-based protein variants that will appeal to the vegan population.
Challenges: the growing demand for fresh foods and meals.
The increasing prevalence of obesity, diabetes and other lifestyle diseases are attributed to the unhealthy lifestyle associated with unhealthy diet and no physical exercise. The dangers of these diseases have encouraged individuals to improve their habits, which translates into a healthy diet consisting of fresh foods and meals. Recipe boxes and farmers markets are gaining traction and will challenge the market's growth.
Some of the major players operating in the global protein supplements market are:
• Abbott Laboratories
• BPI Sports LLC
• CytoSport Inc.
• Glanbia Plc
• Iovate Health Sciences International Inc.
• MusclePharm
• NOW Foods
• QuestNutrition LLC
• RSP Nutrition
• The Bountiful Company
Key Segments covered in the market:
By Source
• Plant-Based
• Animal-Based
• Others
By Product Type
• Powder
• Ready-To-Drink Beverages
• Bars
• Others
By Distribution Channel
• Supermarkets/Hypermarkets
• Convenience Stores
• Online
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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