Rise in awareness among people for health & fitness, surge in disposable income, rise in obesity rate, and increase in demand from millennial population drive

PORTLAND, OR, UNITED STATES, October 18, 2021 /EINPresswire.com/ -- U.S. Protein Supplement Market is projected to reach $3.58 billion by2028, registering at a CAGR of7.7% from 2021 to 2028. The report outlines market characteristics, growth by segmentation, market potential, and competitive landscape.

Shankar Bhandalkar, a Team Lead, Food and Beverages at Allied Market Research, said, “The demand for protein supplements among Millennials is projected to showcase the highest CAGR of 8.1% during the forecast period and will continue to hold a dominant share by 2028.”

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Covid-19 scenario:
• Since the Covid-19 outbreak, people have become concerned about their health and wellness. More and more people are more conscious about their dietary decisions, immunity, and weight gain, which favored the demand for protein supplements.
• Chronic illnesses such as diabetes and obesity could increase the chance of getting infected with Covid-19. Thus, the demand for protein supplements increased in the U.S. to combat such diseases and lead a healthier lifestyle.

The study offers an in-depth analysis of the market dynamics including drivers, restraints, challenges, and opportunities to aid the key market players devise business strategies and capitalize on opportunities. Rise in awareness among people for health & fitness, surge in disposable income, rise in obesity rate, and increase in demand from millennial population drive the growth of the U.S. protein supplement market. However, side-effects and negative publicity & claims and presence of cheaper substitutes hinder the market growth. On the contrary, surge in demand from the young population is expected to open new opportunities for the market players in the future.

The report provides a detailed study of the impact of the Covid-19 pandemic on the U.S. protein supplement market. The Covid-19 impact analysis is vital for market players to formulate strategies regarding the current scenario and improve business model for the future. The pandemic has presented several challenges such as disruption of the supply chain and increased prices of raw material. Moreover, the shortage of labor and raw material has resulted in a supply-demand gap in the market.

The report includes a comprehensive analysis of the segmentation of the U.S. protein supplement marketon the basis of type, form, source, gender, age group, and distribution channel. The study is vital for investors, new market entrants, and stakeholders to understand the fastest-growing segment and highest-growing segment during the historic period and forecast period.
On the basis form, the RTD liquid market held the fastest CAGR of 8.7% during the forecast period. However, the powder segment held the lion’s share in 2019 and will continue to dominate in terms of revenue by 2028.

Based on type, the whey protein segment is expected to hold the largest share during the forecast period. However, the soy protein segment is projected to manifest the highest CAGR of 8.8% during the forecast period.

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On the basis of source, the animal segment is anticipated to maintain dominance in terms of revenue during the forecast period and would showcase the highest CAGR of 7.8% from 2021 to 2028.

The U.S. protein supplement marketreport includes a detailed study of the major market players such as Abbott Laboratories, Amway Corporation, ABH Pharma Inc., GlaxoSmithKline, Glanbia Corp., Herbalife International of America Inc., GNC Holdings, MusclePharm Corporation, and Bob's Red Mill, Nutiva Inc.

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David Correa
Allied Analytics LLP
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