Global Protein Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Protein Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Protein Supplements Market is estimated to witness a CAGR of 9.4% during the forecast period (2020 - 2025).

Key Highlights

• Protein supplements are popular among gym fanatics, and fitness enthusiasts, as they influence various aspects of the body such as muscle growth, metabolism, energy levels, heart health, and weight management.
• Rising consumer awareness and desire to lead active and healthy lifestyles has led to increased participation in sports and fitness activities, in-turn driving the demand for protein supplements. Key players in the market studied have shifted their focus to meet this demand by introducing innovative products in compact sizes and new formats, in order to improve their profit margins, and gain market share.
• The rising number of fitness centers and increased participation of women is further expected to fuel the growth of the market studied.

Key Market TrendsRising Demand For Powdered Protein Supplements

Protein supplements are available in various formats such as powder, bars, and ready-to-drink, in order to satisfy a wider base of consumers. Though the availability of other formats in the market is rising at an improved pace, powdered protein supplements have been observed to be the most popular variant, and hold a significant share of the market studied. Powdered protein supplements can be ingested either by mixing with water, milk, or food, providing consumers the option to customize in accordance with their tastes and preferences, leading to increased consumption. The rising demand for powdered protein supplements is thus expected to drive the market studied over the forecast period.

Asia-Pacific Holds a Significant Share In The Market

The Asia-Pacific region holds a significant share in the market studied and has witnessed rapid growth in recent years owing to a higher percentage of the younger population and rising disposable income levels. China is expected to lead the growth of the region, owing to the government initiatives promoting increased participation in sports and fitness activities as a means to lead active and healthier lifestyles. Rising consumer awareness has also urged the aging population in the region to opt for protein supplements as a means to improve overall health. It has also been observed that protein supplements are being used in developing nations of the region as a means to address caloric and nutrient deficiencies. The demand for protein supplements in the Asia-Pacific region is thus expected to remain high over the forecast period.

Competitive Landscape

Global Protein Supplements market is fragmented with several players adopting product innovation as a means to gain market share. Some of the major players in the market are Glanbia plc, Iovate Health Sciences International Inc., The Hut Group, Scitec Nutrition, Weider Health and Fitness, Inc., Abbott Laboratories, Atrium Innovations Inc., Orgain, Inc., The Simply Good Foods Company, Post Holdings, Inc., among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Glanbia plc
Iovate Health Sciences International Inc.
The Hut Group
Scitec Nutrition
Weider Health and Fitness, Inc.
Abbott Laboratories
Atrium Innovations Inc.
Post Holdings, Inc.

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