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Protein Supplements Market

Protein Supplements Market: Information by Source (Animal-based, Plant-based), Product (Protein Powder, Protein Bars), and Region — Forecast till 2030

Published At : 25 Jul, 2022
Updated At : 29 Aug, 2022
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Market Snapshot
Base Year:
2021
Study Period:
2020-2030
CAGR:
8.34 %
Fastest Growing Market:
Asia Pacific
Largest Market:
North America

The global Protein Supplements 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% from 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.

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Market Dynamics

Drivers for the Global Protein Supplements Market

  • 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 supplements 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.

Restraints for the Global Protein Supplements Market

  • Cheaper Alternatives Hamper The Market

The easy availability of cheaper alternatives and various negative effects of protein enhancement is anticipated to act as a restraint on the growth of the protein supplements market, while negative claims and publicity have the potential to pose a challenge to the market's growth during the aforementioned forecast period.

Opportunities for the Global Protein Supplements Market

  • 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.

 

Segmentation for the Global Protein Supplements Market

This market can be segmented on the basis of product, application, source, distribution channel, regions and competitors. In 2021, animal-based protein supplements dominated the market and accounted for over 65% of revenue. Meat and dairy proteins, including whey, casein, egg, chicken, and beef, make up this segment. Traditionally, proteins derived from animals are considered complete because they contain all of the essential amino acids. In 2021, the most commonly consumed animal-based proteins were casein and whey. All types of whey protein, including isolates, concentrates, and hydrolysates, have an excellent amino acid profile and high digestibility. However, hydrolysed whey proteins are more expensive than other whey proteins; consequently, several whey supplement manufacturers include them in small amounts in their respective formulations.

In 2021, protein powder held a revenue share of greater than 60% of the market. Proteins derived from whey, casein, soy, pea, and egg are utilised in the production of the powders. These powders contain micronutrients such as vitamins, greens (such as dehydrated vegetables), minerals, grains, fibres, additional fats, and/or thickeners. They aid in the building and toning of muscles, the production of enzymes and hormones, weight loss, and the repair of body tissues. In addition, the rising demand for these powders from bodybuilders, elite athletes, and casual exercisers is expected to boost the protein powder segment's growth. Numerous protein powder brands are currently available on the market, including Optimum Nutrition; Quest Nutrition; Bio-Engineered Supplements & Nutrition, Inc.; NOW Foods; Body Fortress; MusclePharm; Pure Protein; and MET-Rx, which are anticipated to contribute to the growth of the segment.

Over 65 % of 2021's revenue was generated by the Sports Nutrition application, making it the most lucrative. Due to the high consumption of protein supplements by athletes, bodybuilders, and sportsmen as dietary supplements, the sports and medical industries make extensive use of them. Given the exposure to a larger customer base, including lifestyle and recreational users, the availability of sports nutrition products in supermarkets and convenience stores should increase their demand.

In 2021, online retailers dominated the market and accounted for over 30% of total revenue. The increasing use of the internet for shopping, the decrease in lead time, the increase in convenience, and the increase in discounts are the primary factors driving the sales of protein supplements through online retailers. The supermarkets and hypermarkets channel is anticipated to grow at an annual rate of 8% during the forecast period. Supermarkets and hypermarkets provide a vast selection of products at discounted prices. It is anticipated that an increase in the number of supermarkets and hypermarkets in developing and developed economies, as a result of their growing popularity, will boost product sales.

 

Regional Analysis of the Global Protein Supplements Market

Protein Supplements Market Regional Analysis

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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% over the foreseeable future. The product demand in the region is primarily driven by modernization 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 analysis in Asia-Pacific over the forecast period.

 

Top Key Players in Global Protein Supplements Market

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 finalized 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.

 

Global Protein Supplements Market: Segmentations

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
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