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Protein supplements market: Segmented by Type (Casein, Whey Protein, Egg Protein, Soy Protein Others); By (Form, Powder, RTD Liquid, Protein Bars); By Source (Animal, Plant); By Distribution Channel (Supermarkets, Online Stores, Direct to Customers (DTC), Others) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
Protein supplements market to surpass USD 41.84 billion by 2030 from USD 18.91 billion in 2020 at a CAGR of 8.27% in the coming years, i.e., 2021-30.
Protein is an important nutrient and the body's second most abundant component after water. Protein supplements are concentrated protein sources derived from animals or plants, such as dairy, eggs, wheat, soybean, pea, and others. Powders, bars, and ready-to-drink (RTD) beverages are the three most common forms they take. Protein powder is a popular protein supplement that comes in a variety of forms, including protein concentrates, isolates, and hydrolysates. These items are used by people who want to gain muscle, maintain their body mass, or reduce weight. People also use protein supplements to get the energy and vitamins they need during intense workouts, as well as to make up for the minerals and vitamins they lose when they eat less.
Due to the rising adoption of healthier, more active lifestyles, the market size is anticipated to rise significantly during the forecast period. More individuals are pursuing appropriate nutrition levels as a result of increased engagement in fitness and sports activities, fueling demand for health and muscle-building products.
In April 2021, Eligo Bioscience and GlaxoSmithKline have formed a research collaboration. Eligobiotics' acne vulgaris therapy uses cutting-edge CRISPR-based therapeutic technology. This strategic partnership is anticipated to speed up research and development operations, giving the firm a competitive advantage.
In 2019, PlantFuel, a plant-based nutritional supplement company, has signed a retail distribution agreement with GNC to deliver its products to over 2,300 GNC locations as well as the company's website.
Protein supplements market is segmented by Type into casein, whey, egg, soy, and others. Among these, the whey category is expected to hold the highest CAGR in the forecast period. Whey protein has long been popular among athletes and bodybuilders since it aids in general body growth and muscle growth. The surge in demand for sports nutrition products, as well as the value-added tag of clean label components, are the two primary drivers driving the market's overall growth.
Protein supplements market is segmented by Gender into Male and Female. Among these, the male category is expected to continue holding the highest CAGR in the forecast period. When it comes to health and nutrition, the male category is the most performance-oriented. Protein nutrition is sought by males in order to improve their performance. To support their high-intensity activity or workout, the male sector seeks additional power and energy. As a result, males consider having both pre and post-workout supplementation.
High demand among youngsters
The increased proclivity of younger generations, particularly millennials, for balanced meals and healthy consumption is one of the main factors driving the protein supplement industry's rise. Millennials are much more health-conscious and aware, which has resulted in a huge increase in dietary supplement usage among them.
Increasing disposable income of consumers
Due to rising disposable income and improved financial stability, consumer spending on different protein and associated supplements, including ready-to-drink protein-based pediatric milk formulas, has increased in recent years. Due to increased health care awareness, weight worries, and the capacity to spend on different things such as protein bars and other supplements, people are projected to spend on these products and driving the market growth.
Availability of cost-effective alternatives
cost-effective local products like ayurvedic supplements are available in the market which is restricting the overall growth of the market.
Glanbia plc
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Protein supplements market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Protein supplements market in North America held the largest market share in the year 2019 and is expected to continue the dominance over the forecast period. This is due to the growing trend of healthy living in the region, along with rising healthcare expenses, which has contributed in the growth and acceptance of the protein supplement market. Consumers are currently adopting the vegan trend, which has resulted in a surge in demand for plant-based proteins, contributing significantly to the market's overall growth.
| Report Attribute | Details |
| Market size value in 2021 | USD 20.46 billion |
| Revenue forecast in 2030 | USD 41.84 billion |
| Growth Rate | CAGR of 8.27% from 2021 to 2030 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD billion and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Gender, Source, Distribution channel, and Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA) |
| Key companies profiled | Glanbia plc, MusclePharm, Abbott, CytoSport Inc., Iovate Health Sciences International Inc, QuestNutrition, The Bountiful Company, NOW Foods, Transparent Labs, Woodbolt Distribution LLC, Dymatize Enterprises LLC, and Other Prominent Players. |
The Protein supplements market size was estimated at USD 18.91 billion in 2020 and is expected to reach USD 41.84 billion by 2030.
Glanbia plc, MusclePharm Abbott CytoSport, Inc., Iovate Health Sciences International, Inc., QuestNutrition ,The Bountiful Company, NOW Foods Transparent Labs, Woodbolt Distribution, LLC Dymatize Enterprises LLC
Whey protein segment is anticipated to hold the Protein supplements market share.
High demand among youngsters and Increasing disposable income of consumers.
Protein is an important nutrient and the body's second most abundant component after water. Protein supplements are concentrated protein sources derived from animals or plants, such as dairy, eggs, wheat, soybean, pea, and others. Powders, bars, and ready-to-drink (RTD) beverages are the three most common forms they take.
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