Global Protein Supplement Market Share Is Expected To Grow At A CAGR Of 9.29% By 2028

22-Sep-2022 | Facts and Factors

According to Facts and Factors, the global protein supplement market size was worth around USD 20.19 billion in 2021 and is predicted to grow to around USD 32.56 billion by 2028 with a compound annual growth rate (CAGR) of roughly 9.29% between 2022 and 2028.

Global Protein Supplement Market Size

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Protein supplements are an external source of protein consumption and are gaining increasing acceptance amongst consumers of all age groups and gender owing to the benefits associated with regular and appropriate consumption of supplements. In today's modern age, where there is a growing prevalence of fast food consumption along with increasing intake of packaged food that is not considered as healthy as natural food items, sufficient and clean protein intake has decreased drastically in regular diet forms across cultures. It is one of the main reasons why healthcare professionals recommend people incorporate some form of protein in their meals throughout the day. However, natural sources may not be sufficient for the quantity of protein the body requires. In such cases, protein supplements are the preferred choice. Some of the main benefits associated with the consumption of appropriate amounts of proteins involve weight management. A report published in 2017, reported that consumption of whey protein could result in lowered total fat mass and body weight for people who are obese. It is considered one of the main resources for the body to recover post-exercise as it protects muscle from damage and its fast recovery.

Browse the full “Protein Supplement Market Size, Share, Growth Analysis Report By Product (Protein Bars, Protein Powder, Ready-To-Drink, and Others), By Source (Animal-Based, Plant-Based, and Others), By Distribution Channel (Pharmacies & Drug Stores, Online Retail, Supermarkets & Hypermarkets, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/protein-supplement-market

Covid-19 impacted the global market cap during 2020 and the beginning of 2021. This was majorly driven by the issues concerning the transportation of protein supplements and their restricted availability. Since various sports units like gymnasiums, swimming centers, and recreational centers were closed for operation, many people switched to more natural sources for limited quantities of protein required when not working out intensively.

The global protein supplement market is projected to garner high revenue owing to the increasing trend of health-conscious people who visit recreational and gym centers regularly. People who undergo intensive physical training are required to increase their protein intake as compared to people who do not indulge in heavy workouts. Sufficient protein consumption prevents muscle damage while also aiding the building of strengthened muscles. Whey proteins are known to show fat-loss results when consumed in appropriate amounts and coupled with a regular physical workout. These factors greatly propel the global market cap size. The growing number of players in the market that are undertaking exhaustive marketing and advertising activities to reach a greater consumer segment may also lead to an increase in revenue in the next few years. Physicians and doctors recommend patients with external protein supplements to help patients maintain their vitals & body weight, and provide them with sufficient energy. Protein powders are known to prevent the occurrence of type-2 diabetes since it makes the consumer feel full for a longer time. All these factors combined are expected to deliver optimum results for the global market.

The health risks associated with the over-consumption of supplements may restrict the global market expansion while the increasing number of players is projected to provide excellent growth in consumers. Nonetheless, the prevalence of counterfeit products may challenge the global market growth trend.

The global protein supplement market is segmented based on source, product, distribution channel, and region.

Based on source, the global market is divided into animal-based, plant-based, and others. The global market is currently dominated by animal-based proteins owing to the high deliverables associated with these types of protein supplements. Animal proteins are known to contain all 9 types of amino acids making them a preferred choice.

Based on product, the global market segments are protein bars, protein powder, ready-to-drink, and others. The global market is led by the protein powder segment with more than 50% of revenue owing to the convenience of accessibility to protein content in a few scoops. Protein powders are extremely preferred by people who aim to build muscle mass as well as reduce fat content.

Based on distribution channel, the global market is segmented into pharmacies & drug stores, online retail, supermarkets & hypermarkets, and others. Currently, the global market is led by supermarkets & hypermarkets owing to the presence of multiple options under one roof. Costco, a large chain of supermarkets in the US generated a revenue of USD 150.7 billion in 2019.

North America is anticipated to generate the highest revenue in the global protein supplement market owing to various marketing strategies adopted by market players. For instance, supermarkets and hypermarkets are known to collaborate with protein supplement providers to help them generate higher revenue in return for some share of the profit. The body-building community in the United States is well known and the bodybuilders coming from the USA are world-renowned. Many of these athletes have started their own brands of protein supplements or they act as promotional celebrities for international brands thus converting their followers into consumers of the protein supplement brand.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 20.19 Billion

Projected Market Size in 2028

USD 32.56 Billion

CAGR Growth Rate

9.29% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

CytoSport Inc., Glanbia PLC, The Bountiful Company, Muscle Pharm, Iovate Health Sciences International Inc., and others.

Key Segment

By Product, Source, Distribution Channel, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

Purchase Options

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The global protein supplement market is led by players like CytoSport Inc., Glanbia PLC, The Bountiful Company, Muscle Pharm, and Iovate Health Sciences International Inc.

Recent Developments:

  • In July 2022, Perfect Day and Myprotein launched a new protein powder called ‘Whey Forward’ which shows performance results identical to dairy items.
  • In January 2022, Shake That Weight launched a new brand of protein supplements along with a website. The product is called EatProtein.

The global protein supplement market is segmented as follows:

By Product

  • Protein Bars
  • Protein Powder
  • Ready-To-Drink
  • Others

By Source

  • Animal-Based
  • Plant-Based
  • Others

By Distribution Channel

  • Pharmacies & Drug Stores
  • Online Retail
  • Supermarkets & Hypermarkets
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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