Global Animal-Based Protein Supplement Market 2023-2030

Global Animal-Based Protein Supplement Market 2023-2030

Global Animal-Based Protein Supplement Market Size, Share & Trends Analysis Report Market by Product Type (Protein Powder, Protein Bars, and Ready-to-drink), by Distribution Channel (Supermarkets/ Hypermarkets, Online, Chemist/ Drugstore, Specialty Store, and Others), and by Application (Sports Nutrition and Functional Food) Forecast Period (2023-2030)

The global animal-based protein supplement market is anticipated to grow at a considerable CAGR of 7.3% during the forecast period. The rising numbers of health-conscious consumers have created demand for protein supplements having high nutritional value, which in turn driving the global animal-based protein supplement market. Moreover, animal based protein supplements have numerous health benefits and it has been supported by strong scientific evidence and recognized by the government food regulatory institutions, such as the FDA.

Hence, a considerable increase in the number of health issues among consumers due to a lack of healthy nutrients is anticipated to promote the growth of the global animal-based protein supplement market. For instance, as per the information provided by Global Diabetes Community UK, it has stated that in 2018, across the globe there were 415 million diabetic patients and by 2040, it will reach 642 million people in the globe. Moreover, the increasing prevalence of obesity, diabetes, and CVD is also propelling the market to grow. Several studies have proved that minimum consumption of proteins daily basis will help in the prevention of various lifestyle-related diseases. With the population being inclined towards sports and fitness, the demand for these supplements is further expected to escalate during the forecast period. The growing inclination of consumers towards plant-based protein supplements owing to increasing availability of such products may restrain the growth of the global animal-based protein supplement market.

Segmental Outlook

The global animal-based protein supplement market is segmented based on product type, distribution channel, and application. Based on product type, the market is segmented into protein powder, protein bars, and ready-to-drink. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, online, chemist/ drugstore, specialty store, and other. Based on application, the market is sub-segmented into sports nutrition and functional food.

Supermarkets/Hypermarkets Held Major Market Share in Global Market

Supermarkets and hypermarkets held major market share in animal-based protein supplements owing to the higher prevalence in North America. Furthermore, an increasing number of supermarkets and hypermarkets in developing countries such as China, India, and Brazil are anticipated to drive the growth of this market segment. The specialty stores segment is anticipated to exhibit considerable CAGR during the forecast period. The robust growth of specialty stores in developed and developing countries owing to their wide product offerings in a single category, flexible store formats, unique designs, and product displays has been attracting customers towards specialty stores.

Regional outlooks

The global animal-based protein supplement market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Asia-Pacific held significant share in the global animal-based protein supplement market and is also anticipated to exhibit highest CAGR during the forecast period. The increasing demand for premium animal-based protein supplement in emerging economies such as India and China has driven the regional market growth.

Global Animal-Based Protein Supplement Market Growth, by Region 2023-2030

Source: OMR Analysis

North America Held Significant Share in the Global Animal-Based Protein Supplement Market

North America held major market share in 2022 owing to high consumer awareness regarding the protein content in animal based supplements and focus on leading healthy and active lifestyles. Moreover, the high popularity of e-commerce portals as one of the selling mediums has further contributed to the growth of the regional market.

Market Players Outlook

The major companies serving the global animal-based protein supplement market include Glanbia plc, Muscle Pharm Corp., Abbott Laboratories, Cyto Sport, Inc., and Iovate Health Sciences International Inc. among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in 2021, GoodSport Nutrition, a US-based healthy sports drink manufacturing company, launched the GoodSport sports drink, a first-of-its-kind natural sports drink made from 97.0% dairy. The drink delivers three times more electrolytes and 33.0% less sugar than a conventional sports drink.

Further, in February 2022, Nestlé Health Science, a Switzerland-based nutrition company, acquired Vital Proteins for an undisclosed amount. The acquisition would help Nestlé add another brand to its vitamin, mineral, supplement, and wellness portfolio.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global animal-based protein supplement market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.