Australia Protein Supplement Market By Product Type (Protein Powder, Protein Bar, Ready to Drink, and Others), By Raw Material (Whey, Casein and Dairy Alternatives), By Application (Sports Nutrition and Functional Food), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online and Others), By Region, Competition Forecast & Opportunity, 2027
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAustralia Protein Supplement Market By Product Type (Protein Powder, Protein Bar, Ready to Drink, and Others), By Raw Material (Whey, Casein and Dairy Alternatives), By Application (Sports Nutrition and Functional Food), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online and Others), By Region, Competition Forecast & Opportunity, 2027
Australia protein supplement market is expected to reach USD218.56 million by 2027F, growing at a CAGR of 7.23% during the forecast period. Australia protein supplement market is mainly driven by rising urbanization, increasing per capita income, surging sales through e-commerce, rising demand from the young and adults, etc. Furthermore, increasing young adults and women demand fat-free, nutritious products to maintain their weight, which is another important reason driving protein supplement demand in Australia. Furthermore, the protein supplement market is driven by rising disposable income and a growing focus on having an active and healthy lifestyle in Australia.
Various socioeconomic factors, such as urbanization and population aging, are projected to have a favorable impact on product demand. Furthermore, increased concerns about obesity, a desire for vegan protein sources as a result of rising veganism and spending on health-related items are all predicted to boost the demand for goods in the near future.
Rising Disposable Income Fueling the Market Growth
Rapid gains in the combined income of family members results in additional discretionary income for consumers, boosting their spending power significantly. As a result, a growing percentage of consumers are unwilling to sacrifice product quality regardless of price. As a result of increased disposable money, the Australia protein supplement is profiting from such customer behavior.
As disposable income levels have improved, consumers' spending power has increased, resulting in higher living standards. Consumers are more concerned with their health and the availability of branded and high-quality protein supplements, which is supporting the expansion of the protein supplement market across the country.
Growing Demand for Ready to Drink Drives the Market Growth
Ready to drink protein beverages are gaining popularity due to their convenience, such as being lightweight and ready to drink right away. These products are manufactured from a variety of high-protein ingredients to suit people's daily nutritional needs and are seen as a convenient method to get nutrients on the go. These items are gaining popularity, especially among athletes and anyone who engages in strenuous physical activity.
Greater consumption of such items is also driven by a growing emphasis on staying fit and in shape, as well as increased participation in sports, health clubs, sports clubs, and gyms. As a result, market participants are concentrating their efforts on the launch of ready to drink protein products. For example, Glanbia released a carbonated ready to drink (RTD) beverage in 2018 that has 100mg of naturally sourced caffeine and 5mg amino acid combination.
Research and Development for Innovative Products Drive the Market Growth
The abundance of talent found at worldwide encourages R&D units to develop products at a lower cost. To serve their clients better, protein supplement manufacturers are experimenting with cutting-edge innovations, such as making their products without using any fatty acid or other chemicals. The advancement of this innovation is one of the main factors driving Australia's expansion of protein supplement manufacturing companies.
Growing Preference of Online Market Aiding Market Growth
With high and steadily expanding internet penetration, an increasing proportion of Australian consumers prefer to buy things through online channels. Online sales, backed up by a variety of distribution networks and logistics, can let manufacturers reach key parts of Australian cities without having to set up shops. Customers are also shifting towards purchasing protein supplements online due to many variables such as the broad range of products to compare, discounts, and offers offered online.
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Market Segmentation
The Australia protein supplement market is segmented based on product type, raw material, application, distribution channel, region, and competitional landscape. Based on product type, the market is categorized into protein powder, protein bar, ready to drink, and others {cereals, cookies, etc.}. Based on raw materials, the market is segmented into whey, casein and dairy alternatives. In terms of distribution channel, the market is further fragmented into supermarkets/hypermarkets, specialty retailers, online and others {pharmacies, direct selling, etc.}.
The market is also segmented into applications which are further divided into sports nutrition and functional food. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia and Western Australia.
Company Profiles
Vitaco Health Australia Pty Limited, Glanbia Performance Nutrition Pty Limited, Hi-Performance Health Pty. Ltd., Freedom Foods Group Limited, Iovate Health Sciences Australia Pty Limited, MusclePharm Australia Pty Limited, Bioflex Nutrition Pty Ltd, Body Science International Pty Ltd, Genetix Nutrition, True Protein Pty. Ltd. and others, are among the major market players in the protein supplement industry that led the market growth of the Australia protein supplement market.
| Attribute | Details |
| Market Size Value in 2021 | USD145.75 Million |
| Revenue Forecast in 2027F | USD218.56 Million |
| Growth Rate | 7.23% |
| Base Year | 2021 |
| Historical Years | 2017 – 2020 |
| Estimated Year | 2022E |
| Forecast Period | 2023F– 2027F |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Product Type · Raw Material · Application · Distribution Channel · Region · Company |
| Regional Scope | Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia and Western Australia |
| Key Companies Profiled | Vitaco Health Australia Pty Limited, Glanbia Performance Nutrition Pty Limited, Hi-Performance Health Pty. Ltd., Freedom Foods Group Limited, Iovate Health Sciences Australia Pty Limited, MusclePharm Australia Pty Limited, Bioflex Nutrition Pty Ltd, Body Science International Pty Ltd, Genetix Nutrition, True Protein Pty. Ltd., etc. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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