Protein Supplements Market Size to Grow at a CAGR of 8% in the Forecast Period of 2023-2028

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August 22, 2023
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The ‘Global Protein Supplements Market Price, Share, Size, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global protein supplements market, assessing the market on the basis of its segments like sources, forms, applications, distribution channels, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

Protein Supplements Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

• Forecast CAGR (2023-2028): 8%

Protein supplements facilitate proper weight management by enabling people to feel full for longer. The increasing cases of stress-induced weight gain, lack of proper nutritional intake, and rising cases of obesity, are factors propelling the demand for protein supplements. These supplements are a convenient and efficient option for gym-goers to achieve the desired muscular body.

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In this regard, the increasing inclination of the young population towards health and fitness is fuelling the global protein supplement market. Moreover, the increasing participation in bodybuilding competitions is propelling the demand for whey and casein protein which is another crucial market-driving factor.

Over the forecast period, the anticipated increase in demand for ready-to-drink protein supplements and ready-to-eat protein bars, is expected to bolster the market numbers. In addition, the rising disposable income and increasing awareness, infused by rapid urban development, are likely to increase the sale of protein supplements in the coming years.

Furthermore, the growing popularity of physically demanding sports such as powerlifting, boxing, swimming, and rugby, among others, is boosting the global protein supplements market growth. Protein supplements are gaining traction among sportspersons which is leading to increased endorsements and branding. This factor is further improving the sale of protein supplements.

Protein Supplements Industry Definition and Major Segments

A protein supplement is a type of nutritional supplement which is a concentrated source of protein, either sourced from animals or plants. They are commonly consumed by athletes and working adults to meet the nutritional requirements to perform various tasks. Protein supplements increase muscle mass, help the body recover post-workout, and improve the overall performance of the body. Protein supplements are convenient and easily accessible which is propelling the protein supplements market growth.

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Based on source, the market is segmented into:

• Animal Based
o Casein
o Whey Protein
o Egg Protein
o Fish Protein Supplements
o Others
• Plant Based
o Soy Protein
o Pea Protein
o Pumpkin Seed Protein
o Others
• Others

On the basis of form, the market is classified into:

• Powder
• Bars
• Ready-to-Drink
• Others

By application, the market is divided into:

• Sports Nutrition
• Functional Food
• Others

Based on distribution channel, the market is segmented into:

• Supermarkets and Hypermarkets
• Drugstore
• Nutrition Store
• Online
• Others

On the basis of region, the market can be categorised into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Protein Supplements Market Trends

The key trends in the global protein supplements market include the rising investments by the major market players aimed towards promoting clean-labeled protein supplements with aesthetic packaging. The promotion of protein bars and powders across social media platforms is a crucial market-driving trend. The increasing sale of protein powders through online sales channels is a key trend adding to the market growth. In addition, the robust growth of supermarkets/hypermarkets across urban and semi-urban areas is further encouraging impulse buying and point-of-sale marketing.

The increasing focus on the development of vegan or meat-free protein supplements is leading to a heightened sale of soy and pea protein-based supplements. In addition, the increasing awareness pertaining to animal cruelty and the cheaper cost of plant-based supplements is expected to accelerate the protein supplements market growth for plant-based supplements.

In geographical terms, Asia Pacific accounts for a healthy share of the market, which is being driven by the large populations across India, China, and other emerging economies. Increasing emphasis by various governments on sports and fitness activities is likely to offer lucrative opportunities to protein supplement manufacturing brands. Meanwhile, North America is expected to witness steady growth in the forecast period due to the increasing cases of obesity in the United States, leading to greater incorporation of protein supplements in the diets of youth.

Key Market Players

The major players in the protein supplements market report include:

Glanbia PLC
Nestlé S.A.
lovate Health Sciences International Inc.
The Hut.com Limited
Ultimate Nutrition Inc.
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers, and acquisitions, among other latest developments of these market players.

Protein Supplements Market Size to Grow at a CAGR of 8% in the Forecast Period of 2023-2028

Protein Supplements Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast

Protein Supplements Industry Definition and Major Segments

Protein Supplements Market Trends

Key Market Players

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