Global Protein Supplements Market Worth USD 46.12 Billion With a CAGR of 8.34%

The global Protein Supplement market was valued at USD 22.43 billion in 2021 and is projected to reach USD 46.12 billion by 2030 at a CAGR of 8.34% 2022 to 2030. Protein supplements are a type of nutritional and bodybuilding supplement that is commonly used by bodybuilders and sports athletes to increase their protein intake without also increasing their consumption of carbohydrates and fats. These supplements contain a greater proportion of protein than other protein sources when consumed directly. Market Dynamics Changing Lifestyle is a Major Driver For the Market Rapidly changing lifestyles and the rising popularity of whey as sports nutrition for athletes and bodybuilders are the primary growth drivers for the protein supplements market. The growing popularity among millennials is the primary factor driving the demand for protein supplements. The rapid development of innovative protein-based supplements in a variety of forms, as well as the numerous health benefits of the product, are also expected to increase the overall demand for protein supplements during the period between 2022 and 2030. In addition, the rising importance of an active lifestyle and the growing awareness of the health benefits of protein serves as the primary drivers for the growth of the protein supplement market on a global scale. In addition, the hectic lifestyle and rising health consciousness are driving the expansion of the market for protein supplements. Chronic Illness and a Growing Population are Driving the Market Currently, with the growing population, the demand for pharmaceuticals, protein powder, and protein bars is increasing, thereby driving market growth over the forecast period. The awareness of health issues is rising rapidly on a global scale, resulting in a greater emphasis on a healthy diet and encouraging an increasing number of consumers to adopt dietary supplements. In addition, a rise in gym and health club memberships is boosting the demand for supplements. Consequently, accelerating the market's expansion over the projected period. As one age, their immunity decreases, leading to a rise in the incidence of chronic diseases. According to the World Health Organization (WHO), 57 per cent of the global population will suffer from one or more chronic diseases in the future. The absorption of nutrients from food is affected by both age and disease. This is anticipated to benefit the Protein Supplements Market in the coming years, as the market's demand is rising. Animal Sources are expected to Bring in New Opportunities The prices of proteins derived from animal sources are increasing, causing manufacturers to seek out less expensive alternatives. As dietary supplements, plant-based proteins such as soy, canola, rice, wheat, and pea are gaining popularity. Diverse businesses are seeking new opportunities by enhancing the nutritional value of their products' ingredients or by developing new applications for vicelin, globulins, prolamins, and albumins, among others. Regional Analysis In 2021, North America dominated the market and accounted for over 50% of the revenue. The growth of the industry is anticipated to be supported by heightened consumer awareness of health and wellness, as well as knowledge of product advantages. Europe was the second-largest regional market in 2021 and is anticipated to experience substantial expansion over the forecast period. Increasing emphasis on a healthy lifestyle and higher disposable income are anticipated to increase the demand for protein supplements in the region. Asia-Pacific is anticipated to experience a lucrative CAGR of 9.3 per cent over the foreseeable future. The product demand in the region is primarily driven by modernisation and the rising demand for on-the-go snacking options in emerging economies like China and India. Changing consumer lifestyles as a result of rising disposable income are anticipated to drive the protein supplements market in Asia-Pacific over the forecast period. Key highlights The global Protein Supplement market was valued at USD 22.43 billion in 2021 and is projected to reach USD 46.12 billion by 2030 at a CAGR of 8.34% 2022 to 2030. Changing Lifestyles, Chronic Illness and a growing population are driving the market. This market can be segmented on the basis of product, application, source, distribution channel, regions and competitors. By 2030, North America is anticipated to have the largest market share, with the Asia Pacific emerging as the fastest-growing market. Competitors Analysis The industry is highly fragmented and is projected to grow at a significant CAGR over the next few years due to the increasing demand for supplements among sports enthusiasts. From marine collagen to sacha inchi, manufacturers on the market are constantly experimenting with new sources. In addition, manufacturers are incorporating egg white proteins into nutrition bars to provide a wider selection of snacks. In 2017, Glanbia created the BevEdge technology, which permits manufacturers to eliminate lecithin from their products. This technology is applicable to a wide range of animal and plant-based products, including whey, milk, casein, and pea. Glanbia PLC, MusclePharm, Abbott, CytoSport, Inc., Iovate Health Sciences International Inc., QuestNutrition, THE BOUNTIFUL COMPANY, AMCO Proteins, NOW Foods, Transparent Labs, WOODEN BOLTS DISTRIBUTION LLC, Dymatize Enterprises LLC, JymSupplementScience.com, RSP Nutrition, BPI Sports LLC, International Dehydrated Foods, Inc., BRF, Rousselot, GELITA AG, Hoogwegt. Recent Developments Nestlé Health Science has finalised its acquisition of Vital Proteins in February 2022. Vital Proteins is the market leader in collagen in the United States and a leading lifestyle and wellness platform offering supplements, beverages, and food products. 2020 saw the acquisition of a majority stake in Vital Proteins by Nestlé Health Science. Nestlé acquires The Bountiful Company's core brands in April 2021 and expands its health and nutrition portfolio. Market Segmentation Source Outlook Animal-based Whey Casein Egg Fish Others Plant-based Soy Spirulina Pumpkin Seed Hemp Rice Pea Others Product Outlook Protein Powder Protein Bars Ready to Drink Others Application Outlook Sports Nutrition Functional Food Distribution Channel Outlook Supermarkets & Hypermarkets Online Stores Direct to Customers (DTC) Others Regional Outlook North America Europe Asia Pacific Central & South America Middle East & Africa