Protein Supplements Market
Protein Supplements Market (Product Type - Casein Protein Supplements, Whey Protein Supplements, Egg Protein Supplements, MPC Protein Supplements, and Soy Protein Supplements; Source - Animal and Plant; Distribution Channel - Online Stores, Supermarkets and Hypermarkets, Convenience Stores, and Drug Stores; End-Use Segment – Powder Supplements, Bars, and Ready to Drink Supplements) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2022
Press Release :
Global Protein Supplements Market: Snapshot
The rising health consciousness among consumers across the world is having a tremendous influence over the global market for protein supplements. Currently, the impact of the augmenting awareness level among them regarding the benefits of protein is substantially high on this market and is anticipated to continue driving the growth of this market over the next few years. The opportunity in the worldwide market for protein supplement is anticipated to attain a value of 2.20 bn by the end of 2017. Researchers expect the market to further rise at a CAGR 5.30% between 2017 and 2022, reaching 2.84 bn by 2022.
North America to Remain Dominant
The global protein supplements market registers its spread across North America, Asia Pacific excluding Japan (APEJ), Europe, Japan, and the Middle East and Africa (MEA). The increasing interest of people in healthy living and their high disposable income have empowered North America to take the lead among all the regional markets. Progressing at a CAGR of 5.30% over the period from 2017 to 2022, the North America market for protein supplements is projected to remain attractive in the years to come.
With consumers capable of purchasing expensive healthcare products, Europe has held the second position in the global market and it is anticipates to remain doing so over the next few years. Among others, Asia Pacific is expected to register an exceptional rise in this market in the near future. The increasing health consciousness among people, coupled with the proliferation of health clubs, gymnasiums, and fitness centers, will propel the Asia Pacific market for protein supplements over the forthcoming years. The steady rise in the purchasing power of consumers, especially the middle class ones, is likely to impel this regional market immensely.
Egg Protein Supplements to Face Tough Challenge from Soy
Protein supplements are commonly derived from animal or plant sources. At present, the demand for animal protein supplements is relatively higher than their plant-based counterparts. The key types of protein supplements available across the world are casein, egg, whey, MPC, and soy. With a share of approximately 38%, egg protein supplements have been dominating the overall market for protein supplements. As these egg protein supplements enjoy a wider spectrum of consumers, analysts expect this segment to continue to lead over the next few years. The soy protein supplements segment, however, is likely to present more lucrative growth opportunities for players in the years to come. The rising trend of veganism is projected to positively influence this segment. The ease in digestion offered by soy protein supplements and the presence of low level of cholesterol and fat in them will also fuel their demand in the near future.
Protein supplements can be purchased from supermarkets/hypermarkets, drug stores, convenience stores, and various other distribution channels, such as online stores. Consumers, until now, prefer to buy from conventional channels, i.e., supermarkets/hypermarkets, drug stores, convenience stores; however, with the swift penetration of Internet and rocketing number of smartphone users, online stores will prove to be a more profitable distribution channels over the forthcoming years.
The worldwide protein supplements market is highly competitive and fragmented in nature. Some of the key suppliers of protein supplements across the world are Abbott Laboratories, Glanbia Plc, GlaxoSmithKline Plc, GNC Holdings Inc., Amway Corp., Vitaco Health Ltd., ABH Pharma Inc., Atlantic Multipower UK Ltd., Herbalife International Of America Inc., Makers Nutrition LLC, Nu Skin Enterprises Inc., Shaklee Corp., USANA Health Sciences Inc., and Vitacost.com Inc.
Strides Made in Sports Nutrition Underpin Promising Avenues in Protein Supplements Market
Protein supplements have been popularly used in pre- and/or post-workout, increasingly in people undergoing resistance and endurance training. The protein supplements market has made strides on the back of industry investments to make these as a part of sports nutrition to meet wide range of needs in target consumers. Over the years, protein supplementation has increased among recreational sportsperson and even among gym enthusiasts. A growing number of studies on evaluating health impact of high-protein products among general population is also a key favorable trend encouraging functional food producers to invest in such product portfolio. Intestinal microbiota is a key aspect of evaluation studies for endorsing the product benefits to sportspersons. Thus have emerged personalized guidelines on protein supplementation in lifestyle consumers, which has expanded the canvas for new research and development avenues in the protein supplements market. However, overall, there exists marked heterogeneity of recommendations, which is a key challenge for companies to attract consumers. For instance, the recommendations for athletes and sportspersons by European Union, Dietitians of Canada, and American Dietetic Association are all vary widely. The growing number of people who are leaning on engaging in athletic activities is one of the key demographic factor shaping the contours of the protein supplements market.
The global protein supplements market has witnessed new demand prospects among growing population who consider protein intake a vital part of diet. The COVID-19 pandemic is still emerging in various parts of the world, with the mortality and morbidity rapidly increasing in the populations. The outbreaks reached to alarming proportions in several countries across the globe in 2020. This forced policy makers and health agencies to take cognizance of the aftermath and put bans on movement of people. This has hampered the economic growth of many countries and bright numerous sectors to all-time low bottomline. However, some industries were able to see challenges as opportunities to innovate, in their strategic frameworks and business models to stay ahead of the curve.
Global Protein Supplements Market: Overview
In the recent times, the global market for protein supplements has witnessed a steady rise in its valuation. The increasing concerns of consumers over healthcare and the mushrooming of fitness centers, health clubs, and gymnasiums across the world are the main factors behind the significant growth of this market. Over the coming years, the market is likely to gain significantly from the increasing competition within the market that will impel player to introduce new and innovative products.
This research report provides a strategic analysis of the global market for protein supplements and the growth forecast for the period 2017 to 2022. To aid in proper decision-making, the report includes the profiling of top players in this industry, their respective market share along with various business strategies which are adopted by them as well as the recent developments.
Global Protein Supplements Market: Scope of the Study
The analysis of the key trends and the market opportunity map presented in this study discusses several imminent trends in the end-use industries that may fuel he demand for protein supplements in the coming years. Other than this, the scope of the report also focuses on the future penetration of various protein supplements related products. The market attractiveness analysis and the opportunity map provided here offers deep insights into various market dynamics and the competition between the leading players, along with providing the most profitable segments within the global protein supplements market.
The research report also presents the breakdown and the assessment of various factors, such as market drivers, restraints, and opportunities that influence the growth of the global market for protein supplements. These factors determine the prominent trends and their effect on the overall market growth. Overall, after taking into consideration the different factors which affects the global protein supplements market along with providing a holistic analysis of the global protein supplements market, and also provides an estimation of growth for the forecast period during 2017 to 2022.
Global Protein Supplements Market: Segmentation
On the basis of the type, the global protein supplements market has been classified into casein protein supplements, whey protein supplements, egg protein supplements, MPC protein supplements, soy protein supplements, and various other types of protein supplements in this market study.
Various end users, segmented under the scope of this research report includes powder supplements, bars, ready to drink supplements, and various others. Each of these segments have been provided with the market size and the forecast for the period 2017–2022, further emphasizing on the prominent trends, which act as influencing factors for each of the application segments. The analysis of this market on the basis of the region offers an in-depth assessment of the current trends in the regional markets for protein supplements. As per the study, the market has been geographically divided into North America, Asia Pacific excluding Japan (APEJ), Europe, Japan, and the Middle East and Africa (MEA). Various performance of the protein supplement market in various countries under each of the regions has also been evaluated in this research report.
Companies Mentioned in the Report
Some of the key players in the global protein supplements market across the world are Abbott Laboratories, Glanbia Plc, GlaxoSmithKline Plc, GNC Holdings Inc., Amway Corp., Vitaco Health Ltd., ABH Pharma Inc., Atlantic Multipower UK Ltd., Herbalife International Of America Inc., Makers Nutrition LLC, Nu Skin Enterprises Inc., Shaklee Corp., USANA Health Sciences Inc., and Vitacost.com Inc.