Global Protein Supplement Market By Type (Whey Protein, Egg Protein, Soy Protein, Casein, and Other Types), By Sources (Plant Based and Animal Based), By Distribution Channels, By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Oct 2023
- Report ID: 41707
- Number of Pages: 331
- Format:
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Report Overview
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 8.70% during the forecast period from 2023 to 2032.
Fitness facilities and consumers who 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.
Key Takeaways
- Market Growth and Size: The Protein Supplement Market is expected to reach approximately USD 45.3 billion by 2032, experiencing a CAGR of 8.70% from its 2022 value of USD 20.1 billion. This substantial growth is attributed to the increasing demand for protein supplements.
- Driving Factors: The demand for protein supplements is on the rise due to factors such as the availability of world-class athletic and fitness infrastructure, changing lifestyles, and a growing emphasis on healthy living. Prominent influencers, sports events, and government initiatives are encouraging consumers to adopt healthier lifestyles.
- Restraining Factors: Volatile raw material prices, particularly for milk and soybeans, can lead to price variability in protein supplements, affecting production costs. Political, economic, and environmental factors influence these prices.
- Opportunities: The global increase in health awareness and the emphasis on healthy diets, especially after the COVID-19 pandemic, have driven the demand for protein supplements. People are increasingly motivated to maintain a healthy lifestyle, which has boosted the market.
- Trending Factors: There is a rising trend in consuming diets rich in protein, driven by health-conscious consumers. Lifestyle-related diseases like diabetes and obesity, as well as a growing geriatric population, have contributed to the increased consumption of supplements.
- Type Analysis: Among protein types, whey protein holds a significant market share. Whey protein, known for its branched amino acids, is popular among athletes and bodybuilders.
- Source Analysis: In 2022, animal-based protein supplements generated the most revenue, with whey and casein being the most consumed animal-based proteins.
- Form Analysis: In 2022, protein powder dominated the market with a 55% share. Protein powders are versatile and support muscle building and overall health.
- Distribution Channel Analysis: Online retailers accounted for over 43% of the revenue in 2022. Supermarkets and hypermarkets are also expected to see growth in the market.
- Regional Analysis: North America leads in the global market for protein supplements, driven by the increasing number of health-conscious consumers. The health and fitness industry in the United States is expected to expand further.
- Key Players: Major players in the protein supplement industry include Amway Corporation, Glanbia PLC, MusclePharm Corporation, Abbott Laboratories, CytoSport Inc., and others.
Driving Factors
Augmented Demand for Sports Nutrition Supplements to Drive the Market
It is anticipated that the demand for the protein supplement market will rise as a result of the availability of world-class athletics and fitness infrastructure, the rising demand for protein supplements, and a favorable outlook for the government.
As people become more reliant on supplements to meet their daily nutritional needs as a result of changing lifestyles, it is anticipated that the demand for protein supplements will rise.
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. A protein supplement contains organic substances, fats, proteins, vitamins, minerals, carbohydrates, and more. Nutritional supplements include sports supplements, sports drinks, and foods designed to improve athletes’ and bodybuilders’ overall performance.
The other category includes things like cookies, cakes, capsules, and bites. These products are expected to fiercely compete with protein powders, Ready-to-Drink, bars, and products, but their growth rate is slower than that of the other major protein supplement market.
Restraining Factors
High Cost of Production Due to Volatile Raw Material Prices
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.
Opportunity
High Priority on Healthy Diet Will Boost Demand
A growing number of people are turning to dietary supplements and placing a greater emphasis on a healthy diet as a result of the worldwide increase in health awareness. Since the COVID-19 pandemic, people have been more concerned about their health. People are being encouraged to eat well and exercise the government. Proteins were in high demand as a result.
Trending Factors
Rising Trend of Eating Healthy Food to Foster Market Growth of Dietary Supplement
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. In addition, an increasing number of lifestyle-related diseases, such as diabetes and obesity, and an expanding geriatric population directly contribute to the rise in supplement consumption. As more people choose to maintain a healthy lifestyle by participating in sports or playing sports professionally, the demand for sports nutrition supplements is also expected to rise in the region.
Type Analysis
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.
Source Analysis
In 2022, animal-based protein supplements generated the most revenue. Meat and dairy proteins like whey, chicken, egg, casein, and beef make up the segment. Because they contain all of the necessary amino acids, proteins derived from animals have traditionally been regarded as complete proteins.
In 2022, whey and casein were the animal-based proteins that were consumed the most. The amino acid profile and digestibility of all whey protein grades, including isolates, concentrates, and hydrolysates, are excellent. Hydrolyzed whey proteins, on the other hand, are more expensive than other types of whey proteins, so some manufacturers of whey supplements include them in small amounts in their products.
Form Analysis
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.
Distribution Channel Analysis
In 2022, online retailers led with a revenue share of over 43%. The main factors driving the sales of protein supplements through online stores are the rising use of the internet for shopping, shorter lead times, increased convenience, and more discounts. Over the forecast period, a CAGR of 8.5% is predicted for the supermarkets and hypermarkets channels.
Lower prices can be found on a wide range of goods at supermarkets and hypermarkets. Product sales should rise as a result of the growing number of supermarkets and hypermarkets in both developing and developed economies.
Due to the rising popularity of plant-based and vegan supplements among vegans, vegetarians, dairy, and individuals who are allergic to egg proteins, and meat, the segment of plant-based protein supplements is anticipated to expand at the highest CAGR over the forecast period.
Wheat, soy, rice, potato, canola, hemp, oat, and almond are just some of the plant sources from which these products are derived. In 2022, soy and wheat became the most popular plant protein segments. Because it contains all nine essential amino acids, soy is popular with consumers.
Due to its composition of ingredients like arginine, glutamine, and BCAAs, which aid in muscle recovery and speed up absorption, it is gaining popularity. Over the forecast period, demand is anticipated to rise as a result.
Key Market Segments
Type
- Whey Protein
- Egg Protein
- Soy Protein
- Casein
- Other Proteins
Source
- Plant-Based
- Animal Based
Form
- Ready to Drink
- Protein Powder
- Protein Bar
- Other Forms
Distribution Channel
- Online
- Specialist Sports Store
- Other Distribution Channels
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.
Key Regions and Countries
- 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 Players Analysis
Emerging key players are focused on a variety of strategic policies to develop their respective businesses in foreign markets. Several protein supplement market companies are concentrating on expanding their existing operations and R&D facilities.
Furthermore, businesses in the protein supplement market are developing new products and portfolio expansion strategies through investments and mergers, and acquisitions. In addition, several key players are now focusing on different marketing strategies such as spreading awareness about natural ingredients, which is boosting the target products’ growth.
Some major players are 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
Market Key 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 Players
Recent Developments
- 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.
Report Scope
Report Features Description Market Value (2022) US$ 20.1 Bn Forecast Revenue (2032) US$ 45.3 Bn CAGR (2023-2032) 8.7% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered Type · Whey Protein
· Egg Protein
· Soy Protein
· Casein
· Other Proteins
Source
· Plant-Based
· Animal Based
Form
· Ready to Drink
· Protein Powder
· Protein Bar
· Other Forms
Distribution Channel
· Online
· Specialist Sports Store
· Other Distribution Channels
Regional Analysis 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; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape 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 Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the Size of Protein Supplements Market in 2022?The Protein Supplements Market size was USD 20.1 Billion in 2022, growing during the forecast period from 2023 to 2032.
What is Protein Supplements Market CAGR During the Forecast Period?The Protein Supplements Market size is growing at a CAGR of 8.70% during the forecast period from 2023 to 2032.
What is the forecast value of the Protein Supplements Market?The Protein Supplements Market size is expected to be worth around USD 45.3 Billion by 2032 growing at a CAGR of 8.70% during the forecast period from 2023 to 2032.
- 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 Players
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