According to IMARC Group’s latest report, titled “Protein Supplements Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” Offers a comprehensive analysis of the industry, which comprises insights on protein supplements market report.
The global protein supplements market size reached US$ 22.8 Billion in 2022. Protein supplements refer to the essential macronutrient dietary additives, which are derived from various animal and plant-based sources, such as poultry, pea, wheat, dairy, and soybean. They are widely available in bars, powder, and ready-to-drink (RTD) beverage formats. Protein supplements are a rich source of carbohydrates, fiber, and sodium, which assist in recovering from injury, fueling energy, improving metabolism, and promoting muscle growth. As a result, these additives are extensively consumed by bodybuilders and sports athletes to meet specific nutritional goals.
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Market Trends:
The elevating product utilization in sports nutrition and the rising demand for weight management solutions are among the primary factors driving the protein supplements market. Besides this, the growing popularity of gym culture, expanding enrollments, or participation in several fitness activities, including aerobics and yoga, owing to the desire to lead an active and healthy lifestyle, is further augmenting the market growth. Moreover, the shifting inclination of consumers toward clean-label, plant-based protein supplements, on account of the escalating concerns toward animal welfare and the emerging trend of veganism, is also catalyzing the global market. Apart from this, the launch of innovative product variants in various flavors and formats, such as ready-to-drink (RTD), powder, bars, etc., is acting as another significant growth-inducing factor. Additionally, the inflating disposable incomes and the rising consumer expenditure on health and wellness are also stimulating the market growth. Furthermore, aggressive marketing tactics, including the increasing number of celebrity and sports personality endorsements by brands, are expected to bolster the protein supplements market in the coming years. Looking forward, IMARC Group expects the market to reach US$ 36.3 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028.
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The report has segmented the market on the basis of type, form, source, application, distribution channel and geography.
Breakup by Type:
- Casein
- Whey Protein
- Egg Protein
- Soy Protein
- Others
Breakup by Form:
- Protein Powder
- Protein Bars
- Ready to Drink
- Others
Breakup by Source:
- Animal-Based
- Plant-Based
Breakup by Application:
- Sports Nutrition
- Functional Food
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Online Stores
- Direct to Customers (DTC)
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Amway, Dymatize Enterprises LLC (BellRing Brands), Glanbia PLC, GNC Holdings Inc. (Harbin Pharmaceutical Group), Herbalife International of America Inc., Iovate Health Sciences Inc., Makers Nutrition LLC, Melaleuca Inc., Nestlé S.A, Quest Nutrition LLC (Atkins Nutritionals Holdings Inc.) and Weider Global Nutrition LLC.
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