Protein Supplements Market report: Growing demand for protein-rich diets drives market growth, offering lucrative opportunities for manufacturers

AUSTIN, TX, UNITED STATES, February 16, 2024 /EINPresswire.com/ -- 𝐏𝐫𝐨𝐭𝐞𝐢𝐧 𝐒𝐮𝐩𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 is poised for growth, driven by the expanding demand for sports nutrition supplements. These supplements are designed to enhance athletic performance, stamina, and muscle mass, catering to the needs of athletes and bodybuilders alike.
The protein supplements market has experienced significant growth in recent years, driven by the increasing health consciousness among consumers and the growing demand for convenient and effective ways to meet their nutritional needs. Protein supplements are widely consumed by athletes, fitness enthusiasts, and individuals looking to build muscle mass or support their overall well-being.

Market Size-
The SNS Insider report indicates that the Protein Supplements Market was valued at USD 21.75 billion in 2022, and it is projected to achieve a market size of USD 43.78 billion by 2030, with a compound annual growth rate (CAGR) of 9.14% expected over the forecast period from 2023 to 2030.

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Market Report Scope –
Several manufacturers are using cereal proteins and oilseeds-based proteins in new formulations. Market growth in North America is also being driven by increased government support for the plant proteins sector. For example, the Canadian Government is focused on commercializing new plant-based ingredients for food, livestock feed and aquaculture. Due to the growing demand for fortified ingredients, plant protein sources and products with high stability and longer shelf life, the use of proteins has increased in the sports nutrition and dietary supplement markets. The quality of the protein ingredients and end products such as bar, powder or beverage are influenced by production methods.

Protein Supplements Market Driving Factors:
• Increasing health consciousness: With the growing awareness about the importance of a healthy lifestyle, more and more individuals are focusing on their fitness goals. Protein supplements provide an easy and convenient way to meet their daily protein requirements, especially for those who have busy schedules or limited access to protein-rich foods.
• Growing sports and fitness industry: The sports and fitness industry has witnessed significant growth in recent years, driven by factors such as increasing participation in sports activities, rising gym memberships, and the popularity of various fitness trends. Athletes, bodybuilders, and fitness enthusiasts often rely on protein supplements to support muscle recovery, enhance performance, and achieve their desired physique.
• Changing dietary preferences: There has been a shift in dietary preferences towards high-protein diets due to their potential benefits in weight management, muscle building, and overall health improvement. Protein supplements offer a convenient way to supplement protein intake without consuming excessive calories or compromising on taste.

Market Growth Factors –
A starchy, bitter, and distinctive aroma is associated with certain proteins, such as wheat gluten and hemp. The market is undergoing major improvements in manufacturing methods to address this issue and remove tetrahydrocannabinol (THC) from hemp seeds. By including a further step, the method to extract protein from hemp seed was improved by Applied Food Sciences. Removing the outer shell of the hemp seed results in an ingredient that does not contain the bitter and unpleasant taste of hemp. In view of the fact that sports nutrition consists of the consumption of nutrients such as proteins, vitamins, fats, supplements, carbohydrates, organic substances and minerals, the growth of the market size of protein supplements is expected to be driven by the increase in demand for sports nutrition supplements. To improve overall performance, stamina and muscle mass, sports nutrition products consist of foods, supplements or beverages designed to provide strength and endurance in athletes and bodybuilders.

Segmentation Analysis –
The market is divided into tablets and capsules, powder, liquid or other products on the basis of product type. During the period from 2022 to 2030, the powder segment is expected to register the highest compound annual growth rate. Due to a combination of factors, demand for protein powders has risen over the last few years. First, not only athletes and bodybuilders, but also health-conscious people who want to maintain a balanced and satisfying diet, are becoming more aware of the importance of protein in their diet.

BY TYPE:
• Casein
• Whey Protein
• Egg Protein
• Soy Protein
• Others
BY GENDER:
• Male
• Female
• BY AGE GROUP:
• Millennials
• Generation X
• Baby Boomers

Key Regional Development –
The total market for protein supplements is dominated by North America and accounts for the highest share in the world's protein supplement market. The biggest market in this region is the United States. As a result of rising health concerns and rising disposable income, the Asia Pacific market for protein supplements is growing rapidly. In the global market for protein supplements, Asia Pacific is also an important market player. The market for protein supplements powder in Europe is expected to grow at an average rate.

Protein Supplements Market Challenges:
• Quality control: One of the major challenges in the protein supplements market is ensuring consistent quality across different brands and products. With numerous manufacturers and suppliers in the market, maintaining high-quality standards becomes crucial. There have been instances where certain protein supplements have been found to contain harmful substances or inaccurate labeling, leading to concerns about consumer safety.
• Regulatory compliance: The protein supplements market is subject to various regulations and guidelines set by government bodies, such as the Food and Drug Administration (FDA) in the United States. Meeting these regulatory requirements can be challenging for manufacturers, especially smaller companies with limited resources. Compliance with labeling, ingredient sourcing, and manufacturing practices can be complex and time-consuming.

Key Takeaway
Protein supplements are used by fitness fanatics and athletes to influence different aspects of their bodies, such as muscle growth, metabolism, energy level, heart health & weight management. Protein supplements offer a wide range of claims, protein content, sources, forms and flavours to a wide range of consumers around the world, which is driving the market. In the forecast period, it is anticipated that this will continue to gain momentum. Increasing purchasing power parity (PPP) is likely to propel ready-to-drinks (RTD) demand in the coming years. Moreover, the segment is expected to grow over the next seven years driven by increased consumption of dried fruit snacks as a result of lifestyle changes. The market is also expected to be driven by an increased demand for protein bars, RTDs and powders from bodybuilders, elite athletes and regular exercisers.

Protein Supplements Market Opportunities:
• Growing Health and Fitness Consciousness: With an increasing focus on health and fitness, more individuals are adopting active lifestyles and engaging in regular exercise. This trend has created a significant demand for protein supplements as they are widely recognized for their ability to support muscle growth, aid in recovery, and enhance overall athletic performance. The protein supplements market can capitalize on this opportunity by offering a wide range of products tailored to different fitness goals and dietary preferences.
• Rising Vegan and Vegetarian Population: The number of people following vegan or vegetarian diets is steadily increasing worldwide. As these diets often lack sufficient protein intake from animal sources, there is a growing need for plant-based protein supplements. Manufacturers can tap into this market opportunity by developing innovative plant-based protein products that cater to the specific nutritional requirements of vegans and vegetarians.

Impact of Covid-19 on Protein Supplements Market :
• The Covid-19 pandemic has had a significant impact on various industries worldwide, and the protein supplements market is no exception. As people became more health-conscious during the pandemic, there was a surge in demand for products that could boost immunity and support overall well-being. This led to an increased interest in protein supplements as they are known for their ability to enhance muscle growth, aid in recovery, and provide essential nutrients.
• One of the primary effects of Covid-19 on the protein supplements market was a shift in consumer behavior. With lockdowns and restrictions imposed globally, many individuals turned to home workouts and personal fitness routines. As gyms closed down or operated at limited capacity, people sought alternative ways to maintain their fitness goals. This resulted in a growing demand for protein supplements as individuals looked for convenient and effective ways to supplement their exercise regimes.

Recent Developments -
May 2023: Arla Foods Ingredients launched a product that increases the protein content of juice-style oral nutrition supplements (ONS) for medical nutrition to 7% without compromising mouthfeel or taste.
April 2023: In India, the UK's premium sports supplement brand, Genetic Nutrition, has launched a high-quality health and wellness segment. Protein powders, amino acids and vitamins formulated with the finest ingredients available for optimum effectiveness are part of the range of supplements from that brand.

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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Protein Supplements Market segmentation, BY TYPE:
9. Global Protein Supplements Market segmentation, BY GENDER
10. Global Protein Supplements Market segmentation, BY AGE GROUP
11. Global Protein Supplements Market, by region/ country
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company profiles
12.1 Abbott Laboratories
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 Swot Analysis
12.1.4 The SNS View
12.2 ABH Pharma Inc.
12.3 Amway corporation
12.4 Glambia Plc.
12.5 GlaxoSmithKline Plc
12.6 General Nutrition Corporation (GNC Holdings Inc.)
12.7 Herbalife International of America, Inc.
12.8 Maker Nutrition LLC
12.9 Suppleform
12.10 Vitaco Health Limited.
13. Competitive Landscape
13.1 Competitive Bench Marking
13.2 Market Share Analysis
13.3 Recent Developments
14. ConclusionTable of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Protein Supplements Market segmentation, BY TYPE:
9. Global Protein Supplements Market segmentation, BY GENDER
10. Global Protein Supplements Market segmentation, BY AGE GROUP
11. Global Protein Supplements Market, by region/ country
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company profiles
12.1 Abbott Laboratories
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 Swot Analysis
12.1.4 The SNS View
12.2 ABH Pharma Inc.
12.3 Amway corporation
12.4 Glambia Plc.
12.5 GlaxoSmithKline Plc
12.6 General Nutrition Corporation (GNC Holdings Inc.)
12.7 Herbalife International of America, Inc.
12.8 Maker Nutrition LLC
12.9 Suppleform
12.10 Vitaco Health Limited.
13. Competitive Landscape
13.1 Competitive Bench Marking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion

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