Protein Supplement Market by Type

The protein supplement industry witnessed significant growth due to its apparent ability to boost immunity during the COVID-19 pandemic.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, March 6, 2024 /EINPresswire.com/ -- Protein Supplement Market was valued at $23.9 billion in 2021, and is projected to reach $50.7 billion by 2031, growing at a CAGR of 7.8% from 2022 to 2031. The rise in demand for sports nutrition supplements is expected to further propel the growth of the protein supplement market size since sports nutrition consists, the consumption of nutrients, such as proteins, vitamins, fats, supplements, carbohydrates, organic substances, and minerals.

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Sports nutritional products include sports foods, sports supplements, and sports beverages aimed at providing strength and endurance to athletes and bodybuilders to improve overall performance, stamina, muscle growth, and health. Nano-encapsulation and microencapsulation technologies have grown in popularity in recent years due to their controlled release and minimal ingredient utilization. Increased distribution channel for encapsulation technologies in food and beverage fortification are expected to open new markets for sports nutrition ingredients. Furthermore, the surge in popularity of naturally derived ingredients, owing to rise in health concerns about synthetic ingredients, is expected to fuel the demand for protein supplements in the sports nutrition industry.

These are generally bought from online fitness stores owing to the availability of numerous options and convenience of consumers. The growth of the global protein supplement market is driven by an increase in health-related concerns, which has led to a shift of individuals toward fitness centers, gyms, and health clubs. Furthermore, a rise in obesity rates and growth in disposable income are some other factors that drive the growth of the market. However, the presence of cheaper substitutes, side-effects of protein supplements, and negative publicity & claims are expected to hamper the protein supplement market growth during the forecast period. Growth in demand from the health-conscious young population and the introduction of protein supplements in untapped economies are anticipated to provide lucrative opportunities for the expansion of the protein supplement market size.

Key Finding for This Report:

Meaty Marvels: Beef, dairy, fish, and poultry are traditional sources of protein that pack a punch when it comes to muscle-building and overall health. But did you know that there's a world of flavor and variety waiting to be explored in the realm of animal-based protein?

Plant-Powered Goodness: For our plant-based pals, fear not! Protein-rich options like soy, beans, nuts, and whole grains offer a bounty of nutrients to fuel your body and keep you feeling satisfied and energized all day long. Plus, they're packed with fiber and essential vitamins and minerals for optimal health.

Supercharged Supplements: Sometimes, you need a little extra boost to hit your protein goals, and that's where protein supplements come in! Whether it's in the form of powder, shakes, or bars, these convenient options make it easy to get the protein you need on the go.

Build, Repair, Thrive: Protein supplements aren't just for bodybuilders—they're for anyone looking to build and maintain lean muscle mass, support healthy skin and hair, and keep their immune system firing on all cylinders. Plus, they can help with weight management, cholesterol levels, and even cardiovascular health!

Elevate Your Health: Ready to take your health and fitness to the next level? Incorporating protein into your diet is the perfect place to start. Whether you're looking to slim down, bulk up, or simply feel your best, protein is your ticket to a happier, healthier you!

Protein is an essential nutrient and second most abundant substance present in the body after water. Protein supplements are concentrated sources of protein obtained from animals or plants that include dairy, eggs, wheat, soybean, pea, and others. They are present in three common forms, that is, powders, bars, and ready to drink (RTD) liquids. Protein powder is one of the most common protein supplements, available in the market as protein concentrates, protein isolates, and protein hydrolysates

The concentrates consist of 60%-80% protein and 20%–30% fat & carbs; the isolates contain 90%-95% protein; and hydrolysates boost the absorption of protein subsequently enhancing the muscle growth response to exercise. These products are consumed by individuals who strive to build muscle, increase & maintain body mass, or lose weight. Also, people take protein supplements to fulfill the necessary energy and vitamins needed through strenuous workouts as well as to compensate for the nutrients & vitamins loss during the reduction of food intake. Health benefits associated with consuming protein supplements and a rise in fitness concerns among people in different regions drive the protein supplement industry.

In addition, the increase in the number of fitness & training centers, surge in disposable income, and alarming rise in obesity rates also fuel the protein supplement market growth. However, the presence of cheap replacements and false claims coupled with negative publicity is expected to hamper the growth of the protein supplement market size during the forecast period. The rise in protein supplement demand from the health-conscious young population of developing nations as well as the strengthening of distribution channels in untapped regions is expected to provide numerous opportunities for the expansion of the global protein supplement market.

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Global Key Player:

Abbott,

Amway India Enterprises Pvt. Ltd.,

Glanbia plc.,

GNC Holdings, LLC,

Vitaco, Hormel Foods Corporation,

Iovate Health Science International,

The Hut.com,

Otsuka Pharmaceutical

MuscleBlaze..

The protein supplement market is segmented on the basis of type, form, source, gender, age group, distribution channel, and region. On the basis of type, the market is divided into casein, whey protein, egg protein, soy protein, and others. On the basis of form, the market is classified into powder, RTD liquid, and protein bars. On the basis of source, the market is segmented into animal and plant sources. On the basis of gender, the market is bifurcated into the male and female.

On the basis of age group, the market is divided into millennials, generation X, and baby boomers. On the basis of distribution channel, the market is categorized into supermarkets/hypermarkets, online stores, chemists/drugstores, nutrition stores, health food stores, specialist sports stores, and others. On the basis of region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific, and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).

According to the protein supplement market trends, on the basis of form, the ready-to-drink (RTD) liquid segment is expected to witness the highest growth during the forecast period owing to its easy availability and convenience. RTD liquid protein supplements are one of the most convenient ways of consuming protein, especially for gymgoers and athletes.

On the basis of source, the protein supplement market is classified into animal and plant-based proteins. The animal-based segment accounts for the majority of the protein supplement market share owing to the associated health benefits. Whey proteins, for example, boost immunity while also assisting in the increase of glutathione (GSH) levels in cancer patients undergoing chemotherapy.

On the basis of gender, the male segment is expected to gain higher traction as compared to the female men since men consider having both pre and post-workout supplementation.

On the basis of age group, the millennials segment is expected to account for a higher share in terms of consumption for the protein supplement market since millennials are known to be preferred customers for a variety of protein and other supplement products.

As per protein supplement market opportunities, on the basis of distribution channel, the online segment is expected to witness the highest growth during the forecast period since online distribution channels have made it easier for consumers to research and purchase protein supplements. Consumers can browse a wide range of products, compare prices and features, and read reviews from other users on a single platform.

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On the basis of region, Asia-Pacific is anticipated to experience the highest CAGR during the forecast period since the trend for on-the-go snacking options in developing economies such as China and India is projected to drive demand for protein and nutrition supplements in Asia-Pacific. Furthermore, a significant shift in consumer lifestyle is anticipated to fuel the Asia-Pacific protein and nutrition supplement products market during the forecast period.

Key findings of the study

On the basis of type, the whey protein segment accounted for the major share of the protein supplement market in 2021.

On the basis of form, the powder segment dominated the protein supplement industry in 2021.

On the basis of source, the plant-based segment is expected to witness the highest growth during the forecast period.

On the basis of gender, the male segment dominated the market in 2021.

On the basis of age group, the millennial segment dominated the market in 2021 and is expected to grow at a CAGR of 7.4%.

On the basis of the distribution channel, the online segment is expected to witness significant growth.

On the basis of region, North America accounted for a prominent market share in 2021.

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