Protein Supplement Market Projected to Grow at 8.7% CAGR, Crossing US$ 45.3 Billion by 2032

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According to Market.us, an increase in the availability of world-class athletic and fitness infrastructure, rising demand, and favorable government policies are expected to drive the demand for protein supplements.

New York, April 17, 2023 (GLOBE NEWSWIRE) — The global protein supplement market size is expected to be worth around USD 45.3 Billion by 2032 from USD 20.1 Billion in 2022, growing at a CAGR of 8.7% during the forecast period from 2023 to 2032.

Globally, the growing number of fitness centers and health-conscious consumers worldwide is propelling the market forward. It is anticipated that the demand for protein supplements will rise as a result of the rising popularity of protein supplements among millennials and their desire to improve their health through a healthy diet. It is anticipated that changing lifestyles will push the demand for protein supplements even further. As a result, people will be more likely to rely on supplements to meet their daily nutritional needs.

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Key Takeaway:

  • By product type, Whey protein section implants held a dominating revenue share of more than 35.0% in 2022.
  • By Source, animal-based protein supplements generated the most revenue in 2022.
  • By Form, in 2022, protein powder had a 55.0% share of the market’s revenue.
  • North America held a revenue share of approximately 35.15% in 2022
  • Asia Pacific market is anticipated to fastest growth during the forecast period.

Fitness facilities and consumers that care about their health are becoming more prevalent thanks to the market. COVID-19 has had a remarkable and revolutionary global influence, with a favorable effect on demand in all Regions. Protein supplements are essential macronutrient dietary supplements that come from a variety of plant- and animal-based sources, such as wheat, poultry, peas, dairy products, and soybeans.

Factors affecting the growth of the Protein Supplement Market

Several factors can affect the growth of the protein supplement market. Some of these factors include:

  • Increase in Health Awareness: Consumption of a diet high in protein has significantly increased over the past few years as consumers around the world have become more health conscious.
  • Preference for Nutrient-Dense Food: Product demand has increased as a result of consumers’ growing health concerns and preference for a nutrient-dense diet.
  • Rapid Urbanization and High Disposable Income: Mainstream stores have emerged as promising tools to boost sales networks and distribution of the protein supplement market.

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Top Trends in Global Protein Supplement Market

Utilization of an eating routine high in protein has essentially expanded throughout recent years as shoppers all over the planet have become more well-being cognizant. Additionally, an expanding geriatric population and an increasing number of lifestyle-related diseases like diabetes and obesity directly contribute to the rise in supplement consumption. The demand for sports nutrition supplements is also anticipated to rise in the region as more people choose to maintain a healthy lifestyle by participating in sports or playing sports professionally.

Market Growth

It is anticipated that the demand for protein supplements will rise as the availability of world-class athletics and fitness infrastructure, the rising demand for protein supplements, and a favorable outlook government. It is anticipated that the demand for protein supplements will rise as individuals become more reliant on supplements to meet their daily nutritional requirements as a result of changing lifestyles. The rising prominence of sports, celebrity endorsements, international sports, social media influencers, fitness events, and various government initiatives and campaigns encourage consumers to participate in multiple fitness and sports-related activities. In terms of money, this makes it more expensive to keep a healthy lifestyle.

Regional Analysis

The protein supplement market analysis begins in North America, Europe, Asia-Pacific, and MEA based on region. North America holds a larger share of the global market for protein supplements due to the rising number of health-conscious consumers in most developed regions. During the forecast period, the health and fitness industry in the United States is expected to expand at a faster rate and shows no signs of slowing down. This is because more people in the United States are adopting a healthy lifestyle or participating in activities that encourage physical activity and good health. About 20% of adults in the United States belong to a fitness club, and this percentage is expected to rise. Due to an increase in the number of customers who are concerned about their health, there is an increase in the demand for healthy food.

Competitive Landscape

The competitive landscape of the protein supplement market has also been examined in this report. Some of the major players include Amway Corporation, Glanbia PLC, MusclePharm Corporation, Abbott Laboratories, CytoSport Inc., Lovate Health Sciences International Inc., Kerry Group PLC, Reliance Vitamin Company Inc., Orgain Inc., True Nutrition, NOW Foods, and Other Key Players.

Recent Development of the Protein Supplement Market

  • In January 2023, Tata Consumer Products claimed that it had entered the health supplements market by introducing a plant-based protein powder. A plant-based, easy-to-mix product formulated with the goodness of gut-friendly microorganisms is Tata GoFit, a women’s health supplement line.
  • In January 2023, Sun Pharma stated that the introduction of Revital-NXT, a nutrition bar, had propelled its consumer healthcare division into the nutrition bar market in India. The product is a brand extension of the health supplement brand Revital-H.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 20.1 Billion
Market Size (2032) USD 45.3 Billion
CAGR (from 2023 to 2032) 8.7%
North America Revenue Share 35.15%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

Organic compounds, fats, proteins, vitamins, minerals, carbohydrates, and more are included in a protein supplement. Sports nutrition supplements include sports drinks, foods, and supplements for athletes and bodybuilders designed to boost overall performance. Cookies, cakes, capsules, and bites fall into the second category. Although their growth rate is slower than that of the other major protein supplements, it is anticipated that these products will compete fiercely with protein powders, ready-to-drink products, bars, and other products.

Market Restraints

Variability in prices is anticipated as a result of demand and supply barriers’ instability in the prices of raw materials like milk and soybeans. Proteins are made from milk, which is the fundamental raw material. Political, economic, and environmental factors influence milk prices.

Market Opportunities

Due to the worldwide increase in health awareness, a growing number of people are turning to dietary supplements and placing a greater emphasis on a healthy diet. People have been more concerned about their health since the COVID-19 pandemic. The government encourages healthy eating and physical activity. As a result, there was a great demand for proteins.

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Report Segmentation of the Protein Supplement Market

Product Type Insight

The growth of the protein supplement market is studied by type, with potential sources like whey, casein, soy, egg, and other segments like pea, wheat, canola, gelatin, rice, and collagen among others. Among the item types, the whey protein section records to higher protein supplement piece of the pie. After milk curdles, the liquid byproduct known as whey remains. There are a lot of branched amino acids in whey protein. There are two fundamental sorts of whey protein for example whey protein concentrates and whey protein segregate. Because it encourages muscle growth and overall body growth, athletes and bodybuilders have traditionally used whey protein. The two main factors that contribute to the overall growth of the market are an increase in demand for sports nutrition products and their value-added tag as clean-label ingredients.

By Source Insight

Depending on the source, protein supplements may contain plant or animal proteins. In 2022, animal-based protein supplements dominated the market with a 65% revenue share, and this dominance is expected to continue. Because they contain all of the essential amino acids, proteins derived from animals are regarded as complete proteins. Meat, chicken, eggs, and beef are all sources of animal-based proteins. The most commonly consumed animal-based proteins are casein and whey. because plant-based protein supplements are becoming more and more popular with vegetarians. During the forecast period, significant expansion is anticipated. Plant-based proteins are also consumed by individuals who are allergic to egg and dairy proteins. Rice, soy, oat, canola, potato, hemp, wheat, almonds, and pea are the sources of these proteins. The majority of plant protein segments come from wheat and soy. Soy is a very common ingredient in plant-based protein supplements due to the fact that it contains all nine essential amino acids.

By Form Insight

In 2022, protein powder had a 55.0% share of the market’s revenue. The powders come from a wide range of sources, including whey, egg, soy, casein, and other proteins. These powders are loaded with fundamental micronutrients like nutrients, greens, minerals, filaments, grains, and extra fats. They aid in muscle building and toning, enzyme and hormone weight loss, production, and tissue repair in the human body.

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Market Segmentation

Based on Product Type

  • Whey Protein
  • Egg Protein
  • Soy Protein
  • Casein
  • Other Proteins

Based on Source

  • Plant-Based
  • Animal Based

Based on Form

  • Ready to Drink
  • Protein Powder
  • Protein Bar
  • Other Forms

Based on Distribution Channel

  • Online
  • Specialist Sports Store
  • Other Distribution Channels

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Key Market Players

  • Amway Corporation
  • Glanbia PLC
  • MusclePharm Corporation
  • Abbott Laboratories
  • CytoSport Inc.
  • Lovate Health Sciences International Inc.
  • Kerry Group PLC
  • Reliance Vitamin Company Inc.
  • Orgain Inc.
  • True Nutrition
  • NOW Foods
  • Other Key Player

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