Protein Supplements Market Will Reach US$ 46.05 Bn by 2030

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The global Protein Supplements market size is expected to be worth around US$ 46.05 billion by 2030, according to a new report by Vision Research Reports.

The global Protein Supplements market size was valued at US$ 18.91 billion in 2020 and is anticipated to grow at a CAGR of 8.10% during forecast period 2021 to 2030.

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Protein Supplements Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030 – Breakdown Data by Regions, Type, Manufacturers and Applications

Growth Factors

The growing number of fitness centers on account of rising consumer interest in health and wellness is expected to drive the market over the forecast period.

The manufacturers are primarily concentrated in the Europe and North America regions owing to the abundant availability of raw materials. Moreover, a higher number of obesity cases in these regions is leading the consumers to opt for a healthy lifestyle and eating habits, which is expected to increase the product demand over the forecast period. The product manufacturing requires high capital investments owing to the complex manufacturing process.

The European Food Safety Authority (EFSA) and the U.S. Food & Drug Administration (FDA) have laid regulations on product labeling and health claims, which challenges the new players in the global market. The established players are continuously working on increasing their production capacity to match the growing demand. For Instance, in October 2020, Glanbia PLC began the operation of its new facility producing cheese and whey in Michigan, U.S., and is capable of processing 3.6 million liters of milk per day.

The rising vegan population across the globe has compelled manufacturers to invest in R&D to innovate plant-based products. In March 2020, The Hut.com launched a new plant-based protein shake in the U.S. to capitalize on the increasing vegan population in the country. In February 2020, InnovoPro launched chickpea protein concentrate for the Ready-To-Drink (RTD) formula for vegan athletes.

The unprecedented outbreak of the Covid-19 pandemic has benefitted the market as consumers became more aware of the diet and individual health during this period. In addition, the Chinese Center for Disease Control and Prevention (CDC) has issued nutrition guidelines, which includes a recommendation of the intake of approximately 150-200 grams of protein per day (around 1.5-2.0g/kg body weight/day) for patients affected by Covid-19 to boost immunity, thus resulting in the increased product consumption.

Report Highlights

The animal-based source segment led the market in 2020 and accounted for a revenue share of over 66%. The segment comprises meat & dairy proteins, including whey, casein, egg, chicken, and beef. Animal-based proteins are traditionally considered complete proteins since they contain all the essential amino acids.

Whey and casein were the most consumed animal-based proteins in 2020. All grades of whey, including concentrates, isolates, and hydrolysates have a great digestibility as well as amino acid profile. However, hydrolyzed whey proteins cost more as compared to othes, thus several manufacturers add them in small proportions to their respective formulas. The plant-based source segment is estimated to record the fastest CAGR from 2021 to 2028.

This is owing to the increasing popularity of these products. These products are derived from various plant sources, such as wheat, soy, pea, canola, rice, potato, hemp, oat, and almond. Soy and wheat emerged as the dominant product sources in 2020. Soy is the most popular as it has the presence of all nine essential amino acids. Moreover, it contains ingredients, such as glutamine, arginine, and BCAA’s that aid in muscle recovery and fast absorption.

The powder product segment dominated the global market with a revenue share of more than 63% in 2020. The powders are manufactured using a variety of sources, such as whey, casein, soy, pea, and These powders are packed with essential micronutrients, such as vitamins, greens (such as dehydrated vegetables), minerals, grains, fibers, additional fats, and/or thickeners.

They assist in building & toning muscles, making enzymes & hormones, weight reduction, and repairing tissues in the human body. Furthermore, increasing demand for these powders from end-users is anticipated to boost the segment growth. Moreover, the availability of a wide range of products by different brands in the market will contribute to the segment growth.

The RTD segment is expected to register the fastest CAGR of 8.8% over the forecast period. RTD supplements are protein drinks that have a precise formulation for direct consumption. RTDs offer a high dose of proteins and can thus be consumed pre-/post-workout or on-the-go. These proteins are easily absorbed by the body and promote muscle recovery as well as aid in lean muscle growth.

The others segment includes various niche products, such as gels, capsules, cakes, cookies, and bites. These products are likely to experience a slower growth rate in comparison with the other major protein supplements owing to the higher demand for products like bars and RTDs.

Sports nutrition emerged as the largest application segment in 2020 and will witness the fastest CAGR over the forecast period owing to a wide scope of product application in the sports and medical industries. The availability of sports nutrition products in supermarkets and convenience stores is expected to spur their demand given the exposure to a wider customer base including lifestyle and recreational users.

Also, ascending demand for sports nutritional supplements to promote lean muscle growth, improve performance, assist in weight reduction, and boost stamina is expected to augment the segment growth in the coming years. An increasing number of individuals engaging in sports and other physical activities is also likely to support the segment growth. However, the rising market penetration of energy drinks and sugar-free carbonated soft drinks is expected to emerge as a challenge for the industry.

The online stores segment accounted for the highest revenue share of over 59% in 2020 and is estimated to expand further at the fastest CAGR from 2021 to 2028. The growing usage of the internet for shopping, due to higher convenience, attractive pricing offers, and availability of a variety of brands is the key factor driving product sales through online stores.

Supermarkets channel is projected to witness a CAGR of 7.6% over the forecast period. Supermarkets offer a wide range of products at lower prices. An increasing number of supermarkets across the globe owing to their growing popularity is expected to benefit product sales through these distribution channels.

Direct-to-customer or DTC is projected to be one of the significantly growing distribution channels with a CAGR of 8.3% over the forecast period. Major companies including Quest Nutrition, Glanbia, and NBTY are investing in direct-to-consumer channels to extend their reach to other regions. Companies are developing user-friendly and specialized websites to market their products without the need for any third-party distribution channel.

As the demand for protein-based products is rising, pharmacies, fitness centers, and small-scale retailers are offering more shelf space for protein supplements of various brands. Small-scale retailers and cooperatives trying to keep the exclusive channels for protein bars, powders, and cookies, are now sharing the marketplace with traditional, big box stores, discount grocery outlets, and supermarket chains.

North America led the market and accounted for more than 50% of the global revenue share in 2020. The region will retain its dominant position throughout the forecast years on account of high consumer awareness regarding health and wellness coupled with knowledge regarding the product benefits. Europe was the second-largest market in 2020 and is expected to witness revenue growth of 8.5% over the forecast period. Increasing emphasis on a healthy lifestyle coupled with higher disposable income is expected to be key factors driving the product demand in the region.

Asia Pacific is expected to be the fastest-growing regional market at a CAGR of 9.1% over the forecast period. The product demand in the region is mainly driven by modernization and the ascending need for on-the-go snacking options across emerging economies, such as China and India. Changing consumer lifestyle owing to the increasing disposable income levels is further expected to drive the industry growth in the Asia Pacific over the forecast period.

Key Players

  • 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
  • RSP Nutrition
  • BPI Sports LLC
  • International Dehydrated Foods, Inc.
  • BRF
  • Rousselot
  • Gelita AG
  • Hoogwegt

Market Segmentation

  • Source Outlook 
    • Animal-based
      • Whey
      • Casein
      • Egg
      • Fish
      • Others
    • Plant-based
      • Soy
      • Spirulina
      • Pumpkin Seed
      • Hemp
      • Rice
      • Pea
      • Others
  • Product Outlook 
    • Powder
    • Bars
    • Ready-to-Drink (RTD)
    • Others
  • Application Outlook 
    • Sports Nutrition
    • Functional Food
  • Distribution Channel Outlook 
    • Supermarkets
    • Online Stores
    • Direct to Customers (DTC)
    • Others
  • Regional Outlook
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
    • Asia Pacific
      • China
      • Japan
      • India
      • Australia
    • Central & South America
      • Brazil
    • Middle East & Africa
      • Saudi Arabia

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

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