Protein Supplements Market Size Worth USD 24,004.8 Million by 2025 at 7.5% CAGR - Report by Market Research Future (MRFR)
Protein Supplements Market Insights and Industry Analysis by Source (Plant, Animal and others), Form (Powder, Liquid, Bar and others), Distribution Channel (Store-Based {Supermarkets & Hypermarkets, Specialty Stores and others} and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World), Competitive Market Size, Share, Trends, and Forecast to 2025
New York, US, July 14, 2021 (GLOBE NEWSWIRE) --
Protein Supplements Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Protein Supplements Market Information by Source, Form, Distribution Channel, and Region - Forecast till 2025”, the market is projected to reach USD 24,004.8 Million by 2025 registering a CAGR of 7.5%.
Market Scope:
Consumption of a protein supplement is required to give additional nutritional value in addition to the food in order to meet the body's basic protein need. The use of a protein supplement aids in the improvement of the body's metabolism. It also aids in building fitness and improving workout performance. It can be consumed both post-workout and pre-workout to increase stamina and endurance during intense workouts. Many disorders are caused by protein shortage, which can be avoided by taking protein supplements on a regular basis.
Market Drives
The global market for protein supplements is experiencing an increase in demand. The increased demand for protein supplements, as well as their availability in retail stores, contribute to the global market's sales growth. Protein supplements were previously only available at specific outlets such as fitness stores, specific retail stores, and drugstores, but now that demand for protein supplements is increasing, they are available in supermarkets, hypermarkets, and even online stores, driving this market in the global market.
During the anticipated period, this market will continue to rise in the global market. Because of the growing concern about health issues and changes in lifestyle, the protein supplements market in the worldwide market offers a variety of growth potential. Furthermore, the expanding population of young people in various nations' demographic profiles who use high protein supplements creates a variety of potential prospects in the global protein supplement market.
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Competitive Landscape:
Key Players in the Global Protein Supplements Market are:
- Nature's Bounty Co. (US)
- Living Essentials Marketing LLC (US)
- Garden of Life, LLC (US)
- Herbalife Nutrition Ltd. (US)
- Abbott Laboratories (US)
- Amway Corp (US)
- GNC Holdings Inc. (US)
- GlaxoSmithKline plc (UK)
- Glanbia plc (Ireland)
- Vitaco Health Group (New Zealand)
Market Restraints:
The global market for protein supplements is growing at an alarming rate, yet several issues are limiting its expansion. The high cost of protein supplements limits the global market's growth because it is out of reach for the majority of the middle-class population. Furthermore, as the notion of veganism becomes more popular in society, it will stifle the global market for animal-based protein supplements during the anticipated period.
COVID-19 Analysis
The global epidemic of COVID 19 has had a negative impact on people's daily lives, forcing economies into forced recession. People have become stuck between financial and health crises as a result of this circumstance. Because of the disrupted supply chain network, the protein supplements sector has seen a sharp drop in revenues as a result of the lockdown crisis and the post-lockdown situation.
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Market Segmentation
The global market has been divided based on the source, form, application, and distribution channel.
The protein supplement industry is classified into three categories based on the source: plant-based, animal-based, and others. The animal-based source dividend dominates the market since it has a high nutritional content and is a widely used protein source. In the worldwide protein supplement market, the plant-based source dividend is also growing at a healthy rate.
The protein supplement industry is classified into powder form, liquid form, bar form, and a variety of different forms dependent on the form. By 2025, the powder segment is expected to maintain its dominant position. The bar segment, on the other hand, is expected to increase at the fastest pace of 8.40 percent throughout the projected period.
Functional food, functional beverages, dietary supplements, animal nutrition, and sports nutrition are the several types of protein supplements available.
The global market has been segmented into store-based and non-store-based distribution channels based on the distribution channel. Supermarkets and hypermarkets, specialty stores, and others are all part of the store-based distribution system.
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Regional Analysis:
The global protein supplements market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the rest of the world.
The North American region has the greatest market share in the global market due to the existence of powerful countries such as the United States and Canada, which are key contributors to the global market.
The Asia-Pacific region holds the second-largest market share in the global market, owing to the existence of powerful countries such as China, India, Japan, and South Korea, which have huge populations that want more protein supplements, boosting this industry in the global market.
The European region has the third-largest market share in the global market, followed by the Latin American region.
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