Global Protein Supplement Market - 2023-2030

Global Protein Supplement Market - 2023-2030

Market Overview

Due to the advantages of consistent and appropriate supplement use, protein supplements are becoming a more popular external source of protein consumption among consumers of all ages and genders. The consumption of sufficient and clean protein has significantly decreased in regular diet forms across cultures in the modern era, where fast food consumption is on the rise, and packaged foods, which are not as healthy as natural foods, are consumed at an increasing rate. It is one of the primary justifications given by medical professionals for their advice to include some protein in each meal consumed throughout the day. The amount of protein needed by an individual might need to be found in sufficient amounts in natural sources. Protein supplements are the best option in these circumstances. One of the main advantages of eating enough protein is that it helps with weight management. Whey protein consumption may cause obese people to lose weight and have less total body fat, according to studies. It is regarded as one of the body's primary resources for post-exercise recovery because it prevents muscle damage and speeds up recovery.

The global protein supplements market was valued at USD XX million in 2022. It is forecasted to reach USD XX million by 2030, growing at a CAGR of 8.5% during the forecast period (2023-2030).

Market DynamicsConsumers changing lifestyle fuels market expansion

The market for protein supplements is being driven primarily by rapidly evolving lifestyles and the growing acceptance of whey as a source of sports nutrition for athletes and bodybuilders. The demand for protein supplements is primarily driven by millennials, who are becoming increasingly popular. During the forecast period, there will be an increase in demand for protein supplements due to the rapid development of novel protein-based supplements in a variety of forms and the numerous health benefits of the product. The market for protein supplements is expanding globally due to the increasing importance of leading an active lifestyle and increased awareness of the benefits of protein on health. Additionally, the market for protein supplements is growing due to an active lifestyle and increased health awareness.

On the other hand, the demand for pharmaceuticals, protein powder, and protein bars is rising along with the population, propelling market expansion over the forecast period. Due to the prevalence of less expensive alternatives and a number of negative effects of protein enhancement, the market for protein supplements is anticipated to experience some growth restraints.

Market Segmentation: The animal-based protein segment accounted for the highest share of the global protein supplements market

The segment includes casein, whey, egg, chicken, and beef as well as dairy and meat proteins. Since they contain all nine essential amino acids, proteins derived from animals are typically regarded as complete proteins. The two most popular animal-based proteins were whey and casein. Whey proteins come in a variety of grades, including concentrates, isolates, and hydrolysates, all of which have excellent amino acid profiles and digestibility. However, because hydrolyzed whey proteins are more expensive than other whey proteins, many companies that make whey supplements only use a small amount of them in their formulas.

On the other hand, because vegan, vegetarian, and people who are allergic to dairy, meat, and egg proteins are becoming more and more common, the market for plant-based protein supplements is anticipated to grow at a faster CAGR during the forecast period. These products are derived from a variety of plant sources, including wheat, soy, pea, canola, rice, potato, hemp, oat, and almond. The two major plant protein categories are soy and wheat. Because it contains all nine of the essential amino acids, soy is well-liked by consumers. Because it contains ingredients like BCAAs, glutamine, and arginine, which promote quick absorption and muscle recovery, it is becoming more and more popular. In the coming years, this is anticipated to fuel demand.

Geographical Penetration: North America is the dominating region during the forecast period

High consumer awareness regarding health and wellness, coupled with knowledge regarding product benefits, is expected to support the industry’s growth. Increasing emphasis on a healthy lifestyle, coupled with higher disposable income, is expected to drive the demand for protein supplements in the region. The U.S. was the largest market in North America for protein supplements, with total revenue of USD YY million in 2021. Increasing consumers’ acceptance of food supplementation, the availability of world-class athletics and fitness infrastructure, high disposable income, and a positive government outlook is expected to augment the demand for protein supplements.

Competitive Landscape

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major key players are Glanbia plc, Kerry Group Plc, Reliance Vitamin Company, Inc, Herbalife Nutrition, GNC Holdings, LLC, Nutiva Inc, The Simply Good Food Co, Iovate Health Sciences International Inc., MusclePharm Corporation and True Nutrition. To maintain their position in the market, businesses are increasing their marketing and R&D expenditures and broadening their distribution networks. Additionally, they are implementing competitive strategies by increasing their investment in product development to meet the tastes and preferences of the new generation of consumers. The businesses use a variety of corporate strategies, including partnerships, mergers, and acquisitions, in addition to a strong product portfolio, to break into the protein supplement market. For instance, on 21st October 2020, a Nutrition expert launched a new hydrolyzed whey protein (WPH), Optipep 4Power, designed specifically for high-intensity interval training (HIIT). On the other hand, on 17th December 2021, Pownut healthcare launched three varieties of protein powder for men, women, and children. Nutrition expert has launched a new hydrolyzed whey protein (WPH), Optipep 4Power, designed specifically for high-intensity interval training (HIIT)Pownut's BUILD UP Whey protein isolate supplements serve the gym-going men who are looking for strong muscles. The SHAPE UP line of Soya supplements is for fitness-conscious women and weight watchers. POWNUT GROW helps kids get what they need for overall development.

COVID-19 ImpactNegative impact on the global protein supplements market

Covid-19 has impacted the global protein supplements in 2020 and early 2021. The transportation problems and limited availability of protein supplements were major causes of the pandemic. The market for protein supplements and the sports nutrition sector as a whole has been negatively impacted by the COVID-19 pandemic. The widespread closure of gyms due to the coronavirus outbreak was one of the main contributing factors. Because it was unclear how long the lockdown would last, many companies even delayed plans for product development. However, the market has the potential to grow as consumers become more conscious than ever of their health and well-being.

The global protein supplements market report would provide an access to approximately 77 market data tables, 75 figures and 152 pages