Rising Demand for Protein Supplements as More Consumers Opt for Nutritious Foods and Healthy Lifestyles: Fact.MR Report

ROCKVILLE PIKE, MARYLAND, UNITED STATES, June 19, 2024 /EINPresswire.com/ -- According to market research and competitive intelligence provider Fact.MR, the global protein supplements market is expected to reach a valuation of US$ 41.1 billion by 2033. The growing health consciousness among consumers and the proliferation of fitness centers are key drivers of the increasing demand for protein supplements, especially among millennials. Sales are projected to rise at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2033.

Protein supplements have become extremely popular among fitness enthusiasts and gym fanatics. Consuming these supplements offers several key benefits, positively impacting various aspects of the human body, such as weight management, heart health, energy levels, metabolism, and muscle growth.

As a healthy lifestyle becomes increasingly mainstream, health-conscious individuals are making significant strides in addressing food sensitivities, obesity, and other related health issues. Consequently, consumers are investing substantial amounts of money in various protein supplements. Among these, ready-to-drink protein-based pediatric milk formulations are projected to see a rise in demand in the coming years, driven by the increasing purchasing power of consumers.

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Key Drivers of Market Growth
Changing Lifestyles and Nutritional Needs
The shift towards healthier lifestyles has led to a greater reliance on supplements to meet daily nutritional requirements. This trend is expected to fuel the demand for protein supplements over the next decade. The rising preference for plant-based proteins is also anticipated to boost the sales of clean-label and organic protein supplements through various channels.

Fitness and Health Benefits
The increasing number of fitness enthusiasts and gym-goers is driving the demand for protein supplements, which are known to aid weight management, enhance energy levels and metabolism, and support muscle growth. A diverse range of protein supplements based on flavor, form, source, and protein content caters to different consumer segments globally.

Regional Insights
North America is projected to account for 41.5% of the global protein supplements market revenue. In the United States, heightened consumer awareness about health and wellness is a significant factor driving the demand for protein supplements. The presence of numerous fitness experts and athletes further contributes to this trend.

In Germany, promotional activities highlighting the health benefits of plant protein products are boosting sales. The hectic schedules of consumers and the demand for healthy, on-the-go drinks are also driving the market for protein ingredients.

The market in Japan is driven by the use of plant-based protein ingredients in traditional cuisines, increasing production of dry peas and wheat, and a rising incidence of obesity. Easy access to raw materials, low-cost labor, and a surge in sports and fitness activities are additional factors supporting market growth.

Raw Material Costs
Volatility in the prices of raw materials, such as soybean and milk, due to supply and demand constraints, is leading to price fluctuations that could negatively impact market growth. Rising costs of animal-sourced proteins are pushing manufacturers towards more affordable plant-based alternatives like canola, pea, wheat, and rice proteins. Companies are also focusing on improving the nutritional content of their products by enhancing the quality of ingredients used.

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Key Takeaways from the Market Study
The global protein supplements market is expected to grow at a CAGR of 6.3% from 2023 to 2033. The market valuation is projected to reach US$ 41.1 billion by 2033, up from US$ 22.3 billion in 2023.

Protein powder is anticipated to hold over 55% of the total revenue share by 2033. The demand for protein supplements in Canada is set to grow at a CAGR of 6.3%. In Germany, sales are predicted to rise at a CAGR of 3.4% over the decade.

Industry Leaders
Prominent players in the protein supplements market include Abbott Laboratories, Amway Corporation, General Nutrition Centers, Inc., Glanbia PLC, Post Holdings, Inc., MusclePharm Corporation, Transparent Labs, and Dymatize Enterprises LLC.

The protein supplements market is set for significant growth, driven by the increasing number of health-conscious consumers and fitness enthusiasts. With ongoing innovations and a shift towards plant-based proteins, the market is poised to expand further, offering numerous opportunities for businesses in the sector.

More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global protein supplements market for the period from 2023 to 2033.

The study divulges essential insights into the market on the basis of product (protein powders, ready-to-drink beverages, protein bars, others), source (animal-based, plant-based), distribution channel (online stores, supermarkets & hypermarkets, direct to customers, others), and application (sports nutrition, functional foods), across five major regions of the world (North America, Europe, the Asia Pacific, Latin America, and MEA).

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Liquid Dietary Supplement Market: The global liquid dietary supplement market size is calculated at US$ 49.4 billion for 2024 and is forecasted to jump to a valuation of US$ 120 billion by 2034-end, expanding at a stellar 9.2% CAGR over the next ten years (2024 to 2034).

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