Protein Powders Market by Source (Animal-based, Plant-based), Application (Functional Food, Sports Nutrition), Distribution Channel - Global Forecast 2024-2030

Protein Powders Market by Source (Animal-based, Plant-based), Application (Functional Food, Sports Nutrition), Distribution Channel - Global Forecast 2024-2030

The Protein Powders Market size was estimated at USD 17.29 billion in 2023 and expected to reach USD 18.69 billion in 2024, at a CAGR 8.28% to reach USD 30.20 billion by 2030.

The protein powders market encompasses a range of dietary supplements to provide individuals with an easy and convenient source of high-quality protein. These powders are derived from various sources, including whey, casein, soy, pea, rice, and hemp. The protein powders cater to different dietary requirements and preferences, targeting consumers who seek muscle gain, weight management, or dietary supplementation. Protein powders are widely used by athletes, bodybuilders, and fitness enthusiasts who require additional protein intake to support muscle growth and repair. The growth of the protein powders market is influenced by factors such as increasing consumer awareness about health and fitness, the prevalence of protein-rich diet trends, advances in food technology, and the expansion of distribution channels. The growing demand for plant-based and allergen-free protein sources has also spurred market growth. However, the adoption of protein powder is hindered due to potential health concerns over excessive protein intake, stringent regulatory frameworks governing health supplements, availability of alternatives, and the commoditization of protein powders, leading to intense competition and price pressure. Opportunities within the protein powder market lie in innovating new protein sources and flavors, expanding the vegan and organic product range, and targeting emerging markets with increasing disposable incomes and growing health consciousness. Additionally, collaborations with athletes and influencers for marketing purposes and tapping into personalization in nutrition can open new avenues for the growth of the protein powder market.

Regional Insights

The Americas represents the highly developing market for protein powders, driven by a robust fitness culture and a rising emphasis on plant-based and clean-label products. Consumers in the U.S. and Canada showcase a penchant for premium, organic, and non-GMO protein powders, with pea and rice proteins gaining popularity. Investment in research on alternative protein sources is evident, with patents focusing on enhanced bioavailability and taste improvement. In Europe, the market is maturing with a strong emphasis on high-quality ingredients and sustainability. European Union (EU) food safety and labeling regulations are stringent, leading to consumer confidence in protein powder products. The UK, Germany, and France are key markets with a notable shift towards vegan and vegetarian lifestyles, increasing the demand for plant-based proteins. The Middle East shows a growing propensity for luxury health products and supplements, which include premium protein powders. Asia Pacific is emerging as a significant region for protein powders due to increased health consciousness, rising incomes, and aging populations contributing to protein supplement growth. Japan's market is mature, with consumers placing a high value on quality and product origin. Meanwhile, rapid urbanization and the growing fitness industry stimulate the demand for protein products, with a rising interest in international brands. On the other hand, emerging economies are witnessing a surge in fitness enthusiasts and health-aware consumers favoring protein supplements.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Protein Powders Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising awareness about benefits of protein supplements
Growing preference for plant-based protein powders
Increasing availability of protein supplements through eCommerce platforms

Market Restraints

Fluctuating availability and prices of raw materials

Market Opportunities

Growing research activities to introduce new form of protein powder
Emerging prominence of sports activities and celebrity endorsements

Market Challenges

Availability of alternatives protein supplements

Market Segmentation Analysis

Source: Increasing popularity of plant-based protein powder among vegan consumers
Application: Expanding usage of protein powder as a sports nutrition for rapid muscle recovery

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Protein Powders Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Protein Powders Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Dymatize and Dunkin’ partner to launch glazed donut-flavoured whey protein powder

Dymatize has expanded its collaboration with Dunkin' Donuts, unveiling a novel glazed donut-flavored protein offering within its acclaimed ISO100 product line. This innovative hydrolyzed whey protein isolate is meticulously engineered to support athletic performance, containing an impressive 25 grams of ultra-filtered protein, all within a lean 120-calorie serving that boasts just a single gram of sugar.

Marico acquires 58% stake in Satiya Nutraceuticals for INR 369 crore

Marico has strategically enhanced its portfolio in the health and wellness sector by acquiring a 58% stake in the Direct-To-Consumer brand 'The Plant Fix-Plix', through its parent company Satiya Nutraceuticals Pvt Ltd and subsidiary Juizo Advisory Pvt Ltd, valued at INR 369.01 crore. This investment aligns with Marico's growth trajectory, particularly by capitalizing on their burgeoning D2C portfolio.

Six Star and Kellogg partner to launch protein powder

Iovate Health Sciences International Inc.'s Six Star Pro Nutrition has allied with Kellogg Company to enrich the protein powder market with innovative flavors derived from beloved breakfast cereals. This collaboration aims to infuse high-quality protein options into the dynamic schedules of athletes at every level.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Protein Powders Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Protein Powders Market, highlighting leading vendors and their innovative profiles. These include Amway Corporation, BioTrust Nutrition, LLC by Wellbeam Consumer Health LLC, BPI Sports, Evlution Nutrition, LLC, Garden of Life, Glanbia PLC, GNC Holdings, LLC, Herbalife International of America, Inc., Hi-Tech Pharmaceuticals, Inc., Inner Armour, Iovate Health Sciences International Inc., Medisys Biotech Pvt. Ltd., MusclePharm Corporation, Nestlé S.A., NOW Health Group, Inc., Nutiva Inc., Nutrabio.com, Inc., Nutrabolt, PepsiCo, Inc., PEScience, Redcon1, LLC, Reliance Private Label Supplements, Rule One Proteins, LLC, Sports Supplements LLC, True Nutrition, and Zoic Pharmaceuticals.

Market Segmentation & Coverage

This research report categorizes the Protein Powders Market to forecast the revenues and analyze trends in each of the following sub-markets:

Source
Animal-based
Casein
Egg
Fish
Whey
Plant-based
Hemp
Pea
Pumpkin Seed
Rice
Soy
Spirulina
Application
Functional Food
Sports Nutrition
Distribution Channel
Offline
Pharmacies/Drug Stores
Supermarkets & Hypermarkets
Online
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year