Protein Supplements Market Report Demand, Revenue, and Forecast to 2030
Market Analysis
Protein is amid the three vital components of
the diet, along with fats and carbohydrates. It contains various amino acids,
plays a crucial role in the endocrine and immune system, offers raw material
for muscle construction as well as repair, and also helps in the transmission
of nerve impulses all through the nervous system. Though people can get bulks
of protein from whole food sources, but protein supplements make it simpler in
getting the same on-the-go. Today both animal and plant-based protein
supplements are available in the market in different forms such as bar, powder,
liquid, and others. Weight management, muscle growth, recovery after exercise,
and added nutrition are some of the key benefits of taking protein supplements.
Various factors are propelling
the protein supplements market growth. These factors, as per
the new Market Research Future (MRFR) report, include an increase in
endorsements by sportspersons and celebrities, focus on packaging, the ability
to invest in protein bars and other supplements, obesity concerns, improvement
in financial stability, and increasing disposable income. Additional factors
propelling market growth include growing awareness about protein benefits, the
rising importance of active lifestyle, increasing incidence of health issues,
increasing expenditure on R&D activities conducted by the healthcare
industry, knowledge of diseases resulting from protein deficiency, increasing
per capita income, and growing health concerns.
On the flip side, strict regulations and laws
for the use of protein supplements in products are likely to deter the protein
supplements market growth over the forecast period.
The global protein supplements market overview is predicted to touch USD 42.84 billion at a 8.6% CAGR between 2022-2030, reveals
the latest Market Research Future (MRFR) report.
Market Segmentation
The MRFR report provides an all-inclusive
segmental analysis of the protein supplements market on the basis of
distribution channel, form, and source.
Based on the source, the protein supplements
market is segmented into animal, plant, and others. Of these, the animal
segment will dominate the market over the forecast period.
Based on form, the protein supplements market
is segmented into bar, liquid, powder, and others. Of these, the powder segment
will have the largest share in the market over the forecast period.
Based on the distribution channel, the protein
supplements market is segmented into non-store-based and store-based. The
store-based segment is again segmented into convenience stores, supermarkets
and hypermarkets, and others. Of these, supermarkets and hypermarkets will lead
the market over the forecast period.
Regional Analysis
By region, the protein supplements market report covers the latest trends and growth opportunities across Europe, North
America, the Asia Pacific, and the Rest of the World. Of these, North America
will remain the driving force in the market over the forecast period. The US is
the chief contributor in this region.
The protein supplements market in Europe is
predicted to have favorable growth over the forecast period chiefly on account
of the growing inclination towards protein supplements among consumers.
The protein supplements market in the APAC
region is predicted to grow at the fastest pace over the forecast period.
Factors aiding growth in the region include growing application in various
industries, growing health awareness in India as well as China, increasing
price of public health care systems, westernization of diet, shifting
consumption patterns, and increasing focus of consumers on preventive health
care.
The protein supplements market in the RoW is
predicted to have a steady growth over the forecast period.
Key Players
Major players profiled in the protein
supplements market report include Amway (US), Abbott Laboratories (US),
GlaxoSmithKline Plc. (UK), Herbalife Ltd (US), GNC Holdings Inc. (US), Archer
Daniels Midland Company (US), and Glanbia Plc. (Ireland). Key players have used
several strategies to cater to the growing needs of customers and also create a
foothold in the market. These strategies include joint ventures/partnerships,
research, and development activities, product launch and innovations, mergers
and acquisitions, collaborations, expansions, and more.
Industry News
September 2021: After their first successful
collaboration, Steve Aoki has again joined hands with Dim Mak to launch
strawberry shortcake flavored protein powder that contains 25 grams protein per
saving, tastes amazing, and above all is a gluten-free and low-fat
option.
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