Protein Supplements Market is projected to present a 8.6% CAGR to reach USD 42.84 Billion by 2030
The global protein supplements market is expected to grow at a high CAGR of 8.6% to account for a higher market value of approximately USD 42.84 billion by the end of the forecasted period 2022-2030.
To provide extra nutritional value along with the diet to fulfill the requirement of basic protein need in a body, consumption of protein supplement is a must. Intake of protein supplement helps in improving the metabolism of the body. It also helps in increasing fitness and improves performance during the workout. It can be consumed in both ways, post-workout and pre-workout to boost the stamina for enduring heavy workouts. Many diseases are caused due to deficiency of proteins and hence can be prevented with the proper intake of protein supplements. Also, the rising problem of obesity, weak immune system, and malnutrition can be prevented and cured by consuming proper intake of protein supplements and hence boost the growth of the protein supplements market in the global market.
COVID 19 Analysis
The global pandemic of COVID 19 has affected the normal life of people adversely which has pushed the economies into forced recession. This situation has trapped the people between financial crises and health issues. Owing to the lockdown situation and post lockdown situation, the protein supplements market has faced a steep downfall in the revenues of the protein supplements because of the disrupted supply chain network.
It is expected to recover by the end of the second quarter of the coming year during the forecasted period 2022-2030.Nestlé acquired a controlling interest in Vital Proteins, a nutrition company based in the United States that produces supplements and food and drink items using collagen, in 2021. Nestlé sees this as a "exciting potential" for the company. Neither the terms of the acquisition nor the extent of the interest Nestlé has taken in the business, which was completed through the company's Nestlé Health Science (NHSc) branch, have been made public. Chicago-based Vital Proteins, which will continue to operate independently post-deal, has 150 SKUs (stock keeping units) across 35,000 retail outlets in North America and Europe, including whey powders and collagen-enhanced snack bars, that proved lucrative for Nestle during the epidemic.Market Dynamics
The rise in the demand for protein supplements market in the global market. Owing to the growing demand for the protein supplement and their availability in the retail stores helps in driving the sales of this market in the global market. During the earlier stage of the advent of the protein supplement it was only available at specific outlets like fitness stores, specific retail stores, and drugstores but now owing to the increasing demand for protein supplements it is available in supermarkets, hypermarkets and even at online stores drives this market in the global market.
The increasing growth of this market in the global market during the forecasted period. Owing to the increasing concern about health issues and change in the lifestyle provides various growth opportunities in the protein supplements market in the global market. Also, the growing population of young generation in the demographic profile of various countries are increasing who consume high protein supplements provides various growth opportunities in the protein supplements market in the global market.
The protein supplements market is increasing at an alarming rate in the global market, but some factors restrict the growth of this market in the global market. The high cost of protein supplements majorly restricts the growth of this market in the global market as it is not affordable by most of the middle-class group. Also, the concept of vegan is increasing a lot in society so it hampers the growth of the animal-based protein supplements market in the global market during the forecasted period.
Value Chain Analysis
The protein supplements market is increasing tremendously in the global market owing to the larger availability of protein supplements by the major key players and associated benefits of protein supplements. The plant-based protein is mainly extracted from peas, soy and tree nuts which are consumed by the vegan population and hence boost the growth of the protein supplement market in the global market.In an effort to encourage people to lead healthier lifestyles, the Protein Foods and Nutrition Development Association of India (PFNDAI) and the Ind Food & Beverage Association (IFBA) have partnered up. This partnership is a well-thought-out plan that will encourage individuals all throughout the country to put their health first and make deliberate food selections by providing access to reliable data on the advantages of nutrient-rich foods.Market Segmentation
The global market has been divided based on the source, form, application, and distribution channel.
Based on the Source
The protein supplements market has been divided based on the source into the plant-based source, animal-based source, and others. The animal-based source dividend dominates the market as it contains high content of nutritional level and it is a widely used source of protein. The plant-based source dividend is also showing a positive growth rate in the protein supplement market in the global market.
Based on the Form
The protein supplements market has been divided based on the form into powder form, liquid form, bar form, and many other forms.
Based on the Application
The protein supplements market has been divided based on the application into functional food, functional beverages, dietary supplements, animal nutrition, and sports nutrition.
Based on the Distribution Channel
The global market has been divided based on the distribution channel into store-based distribution channels and non-store-based distribution channels. The store-based distribution channel is further sub-divided into supermarkets and hypermarkets, specialty stores, and others.NextFerm, a protein expert located in Israel, has finally shown its line of plant-based protein alternatives at the Anuga FoodTec in Cologne, Germany. The business claims to have developed formulas that eliminate the typical gastrointestinal issues associated with plant-based protein supplements, and it hopes to induce a market shift away from animal products without requiring consumers to make any sacrifices in terms of flavor.
The protein supplements market in the global market has been divided based on the region into North American region, European region, Asia-Pacific region, Latin America region, and the rest of the world. The largest market share in the global market is held by the North American region owing to the presence of powerful countries like the U.S. and Canada who are the major contributors in the global market.
The second-largest market share in the global market is held by the Asia-Pacific region owing to the presence of powerful countries like China, India, Japan, and South Korea as they have a large population who demands more protein supplements and hence boost this market in the global market. The third-largest market share in the global market is held by the European region followed by the Latin American region.In the wake of the COVID-19 pandemic, health-conscious Indians are increasingly striving to include protein in their diet, since the Indian Council of Medical Research (ICMR) recommends that an average adult ingest 0.8 to 1 gram of protein per kilo of body weight daily. Eggs, paneer, chicken, and protein shakes are no longer the only focus of the fad diet. High-protein chips, chocolates, coffee, sodas, biscuits, and buttermilk are flooding the protein powder industry in India thanks to increased competition from well-established FMCG businesses. Muscleblaze, Oziva, and MyProtein are only a few of the specialized companies that would like a piece of the action. more people are waiting in line.
The most prominent major key players in the protein supplements market are as follows:
The most prominent major key players in the protein supplements market in the global market use various strategies to expand their customer base in the potential market by adopting various techniques like going for mergers and acquisitions, partnership, collaboration, innovation of a new product, development in the production process and setting a joint venture to attract more customer base.
The global market research report consists of the following aspects:
The global protein supplements market research report consists of the factors that drive the market in the global market along with the factors that restrict the growth of the protein supplements market in the global market. The future growth opportunities in the market are mentioned during the forecasted period. The impact of the global pandemic of COVID 19 is also mentioned. The future growth rate of this market in the global market is also estimated and mentioned.
Protein supplements manufacturers, traders, wholesalers, and distributors, government bodies, industrial bodies, and associations, investors and trade experts, and many others.
|Market Size||USD 42.84 Billion|
|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 Vendors||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.)|
|Key Market Opportunities||Increasing Demand For Plant-Based Protein Supplements, Growing Demand For Protein Supplements For Women|
|Key Market Drivers||Rising Health Consciousness, Growing Number Of Fitness Centers And Health Clubs, Increasing Sales Through Organized Retail Channels|
The protein supplements market is expected to grow at a high CAGR of 8.6% in the global market at the end of the forecasted period.
The protein supplements market is expected to account for a higher market share of approximately USD 42.84 billion in the global market during the forecasted period.
Key competitors in the protein supplements industry include 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.).
The largest market share in the protein supplements market is held by the North American region in the global market.