Protein Supplements Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Protein Supplements Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Protein Supplements Market

The Protein Supplements Market size was valued at USD 26.10 billion in 2023, and the market is now projected to grow from USD 28.15 billion in 2024 to USD 55.32 billion by 2032, exhibiting a CAGR of 8.81% during the forecast period of 2024-2032.

The Protein Supplements Market Growth is impacted by the uncertainties arises during pandemic, specially during the early stage of COVID-19. The demand was high but the supply was low. During the beginning of the pandemic consumers were demanding protein supplements to support their immune systems, and improve overall health while staying at home. The nutritional needs were rising and market started seeing a significant growth with passing year of pandemic.

With rising sports popularity not only for game but for health among common people is increasing the consumption for nutrients as well, such as vitamins, proteins, supplements, fats, carbohydrates, minerals, and organic substances, has become sport nutrition preference. From athletes to body builders, this market is serving them sports drinks, supplements, and food designed specially for them, this helps to boost up their stamina, muscle growth, and overall health. The Protein Supplements Market Share is witnessing rise due to the technologies like Nano-encapsulation, and Micro-encapsulation, known for their ability to control ingredient release and minimum usage. These technologies are creating opportunity for food industries in sports nutrition and demand for naturally-derived ingredients are add ons. This market is also keeping its focus on automation in the manufacturing segment to develop advanced nanotechnology which can help to create nano emulsions, enhancing the bioavailability of nutrients in protein supplements.

Consumers at global level are shifting to veganism, and this popularity is growing due to the awareness regarding environmental and animal welfare, eventually leading the demand for plant-based protein products. These plant-based protein powders, are the alternative to animal-based protein, popular choice among vegetarian segment. They are know for their fiber content that helps in digestion and supports gut health. Companies are working for new innovation in the products such as soy, pea, and rice, with focusing on market expansion. In Oct 2022, Glanbia’s Optimum Nutrition, launched Gold Standard 100% Plant Protein Powder.The powder was not an ordinary plant based product, it was made with 24 grams of vegan protein per serving.

Comprehensive Analysis of Protein Supplements Market

The Protein Supplements Market and Food & Beverages industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the Food benefit management industry. These segmentations are methodically segregated By Source Analysis, By Product Analysis, & By Distribution Channel Analysis. The types of sources include, Plant-Based, Animal-Based, & Others, by type of product includes Protein Powder, RTD, Protein Bars, & Others, and by type of distribution channel includes Supermarkets and Hypermarkets, Pharmacies/Drug Stores, Online Retail, & Others.

North America is the global leader in protein supplement market and gaining the maximum revenue from the market. The market is driven by functional foods and sports nutrition, fuelled by growing fitness awareness in the U.S., Canada and Mexico. The region has large consumer base who are loving protein bars and shaking, specially millennials, preferring their snacks to be healthy, boosting the demand for the protein supplements.

The top players in the market play a crucial role in the Food & Beverages industry assuring industrial prospectus growth and setting market standards. These players include, Glanbia Plc (Ireland), MusclePharm (U.S.), Abbott (U.S.), CytoSport, Inc. (U.S.), Quest Nutrition (U.S.), The Bountiful Company (U.S.), The Himalaya Drug Company (India), NOW Foods (U.S.), RSP Nutrition (U.S.), BPI Sports LLC. (U.S.), these market players provide a level-playing competitive landscape.

May 2023: Arla Made an announcement about their new launch. The new product has increased protein content of juice-style oral nutrition supplements (ONS) for medical nutrition to 7% and consumers do not have to compromise with their taste.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 8.81% from 2024-2032

Unit Value (USD Billion)

Segmentation By Source

Plant-Based

Animal-Based

Others

By Product

Protein Powder

RTD

Protein Bars

Others

By Distribution Channel

Supermarkets and Hypermarkets

Pharmacies/Drug Stores

Online Retail

Others

By Geography

North America (By Source, Product, Distribution Channel, and Country)

- U.S. (By Distribution Channel)

- Canada (By Distribution Channel)

- Mexico (By Distribution Channel)

Europe (By Source, Product, Distribution Channel, and Country)

- Germany (By Distribution Channel)

- U.K. (By Distribution Channel)

- Russia (By Distribution Channel)

- France (By Distribution Channel)

- Italy (By Distribution Channel)

- Rest of Europe (By Distribution Channel)

Asia Pacific (By Source, Product, Distribution Channel, and Country)

- China (By Distribution Channel)

- India (By Distribution Channel)

- Australia (By Distribution Channel)

- Japan (By Distribution Channel)

- Rest of Asia Pacific (By Distribution Channel)

South America (By Source, Product, Distribution Channel, and Country)

- Brazil (By Distribution Channel)

- Argentina (By Distribution Channel)

- Rest of South America (By Distribution Channel)

Middle East and Africa (By Source, Product, Distribution Channel, and Country)

- South Africa (By Distribution Channel)

- UAE (By Distribution Channel)

- Rest of MEA (By Distribution Channel)


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