Protein Supplements Market Size By Form (Powder, Bars, Liquid {Ready-to-drink}), By Source (Plant-based {Soy, Hemp, Pea, Rice}, Animal-based {Whey, Casein, Egg, Meat & Fish}), By Distribution Channel (Supermarkets & Hypermarkets, Online Stores), Industry

Protein Supplements Market Size By Form (Powder, Bars, Liquid {Ready-to-drink}), By Source (Plant-based {Soy, Hemp, Pea, Rice}, Animal-based {Whey, Casein, Egg, Meat & Fish}), By Distribution Channel (Supermarkets & Hypermarkets, Online Stores), Industry Analysis Report, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2030

The protein supplements market is set to depict sizable expansion by 2030 owing to surging demand for nutritional supplements. In addition, changing lifestyles, along with increasing prevalence of chronic diseases, are likely to further propel market growth over the forecast period.

After the onset of COVID-19, burgeoning cases encouraged consumers to strengthen their immune systems, pushing product adoption across the globe. For instance, a May 2021 research study on the role of nutrition during the pandemic found that a strong emphasis on nutritional food would aid in preventing obesity and type-2 diabetes, which, in turn, would reduce the risks of severe COVID-19 outcomes. Furthermore, in the post-pandemic scenario, the decline in cases also boosted the demand for protein supplements pertaining to rising health consciousness.

Moreover, major industry players have been focusing on product innovation and strategic alliances to enhance their business presence, thereby boosting overall market growth. For instance, in June 2022, RSP Nutrition, a provider of healthcare supplements, launched its new high-stim pre-workout supplement, AminoLean MAX. The new protein supplement offered multiple benefits designed to help people improve their workouts and train better.

The protein supplements market has been bifurcated on the basis of distribution channel, source, form, and region.

In terms of form, the industry has been divided into liquid, bars, powder, and others. The powder segment accounted for more than $5,764 million in market revenue in 2021 and is primed to witness substantial growth through the analysis timeline as a result of rising product utilization among athletes and other individuals to maintain healthy lifestyles and boost their immunity.

With respect to source, the market has been split into animal-based, plant-based, and others. In 2021, the animal-based segment held a dominant market share and is anticipated to witness notable growth at a rate of around 7.2% over the review timespan. The growth is attributed to several clinical benefits offered by these supplements, such as essential amino acids, micronutrients, and so on.

The protein supplements market has been categorized based on distribution channel into online stores, supermarkets & hypermarkets, and others. The supermarkets & hypermarkets segment held a majority market share in 2021 and is slated to reach approximately $4,588 million in revenue by the end of 2030. Soaring number of stores for protein supplements would widen the customer base and manage consumer compliance, which is expected to augment segmental growth over the study timeframe.

In the regional frame of reference, the Latin America protein supplements market was valued at over $619 million in 2021 and is estimated to experience lucrative growth over the forecast timeline. Mounting prevalence of chronic diseases and growing awareness regarding health and fitness across the region is poised to support market growth in LATAM.