Global Protein Supplements Market Size By Source Type (Plant-Based, Animal-Based), By Product Type (Ready to Drink, Protein Powder), By Application (Sports Nutrition, Functional Food), By Distribution Channel (Convenience Stores, Drug Stores), By Geographic Scope And Forecast

Protein Supplements Market Size And Forecast

Protein Supplements Market size was valued at USD 21.90 Billion in 2022 and is projected to reach USD 41.75 Billion by 2030, growing at a CAGR of 8.4% from 2023 to 2030.

The expanding number of fitness facilities due to millennials’ interest in health and well-being is likely to fuel market expansion. As obesity rates rise, consumers are opting for healthier lifestyles and eating habits, which is projected to drive increased demand for protein supplements in the future years. The Global Protein Supplements Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Protein Supplements Market Definition

Protein supplements are dietary supplements that provide additional protein to the body. They are usually in the form of powders, bars, or drinks and are designed to help people reach their daily protein intake goals. These supplements are commonly used by athletes, bodybuilders, and people who engage in intense physical activity, as well as those who want to gain muscle mass or lose weight. Protein supplements are a sort of nutritional and bodybuilding supplement that bodybuilders and athletes typically take to complement their diet and enhance their protein consumption without increasing their carbohydrate and fat consumption. When ingested directly, these supplements have a greater protein content than other protein sources.

Global Protein Supplements Market Overview

The driving factor behind the popularity and use of protein supplements is the increased focus on health and fitness. People are more aware of the importance of maintaining a balanced diet and are looking for convenient and easy ways to increase their protein intake. With the busy lifestyles that people lead, protein supplements provide a quick and efficient way to supplement their diets and meet their protein requirements. Additionally, people who engage in sports and physical activities, especially bodybuilding and weightlifting, also use protein supplements as a way to enhance their performance and support muscle growth and repair.

Furthermore, the market is likely to be driven by increased demand for protein bars, RTDs, and powders among bodybuilders, elite athletes, and casual exercisers. Consumption of a protein-rich diet has expanded considerably in recent years due to greater health awareness among consumers worldwide. The expanding senior population, as well as an increase in lifestyle-related illnesses such as diabetes and obesity, all contribute to increased dietary supplement consumption. As more consumers prefer to live a healthy lifestyle by participating in sports activities or playing sports professionally, the region’s demand for dietary supplements in sports nutrition is expected to rise. High production costs will serve as a restriction throughout the projected period, further hindering the expansion of the Protein Supplements Market.

Since the covid-19 outbreak, more people are concerned about their health than they were previously. The demand for protein supplements has surged as a result of governments in many nations urging citizens to eat healthily to strengthen their immune systems. In addition, there are many different kinds and flavors of protein supplements accessible. As people’s tastes change and government programs are implemented, the market for protein supplements will have additional potential. The demand for protein supplements will also increase due to the rise in fitness and wellness centers globally.

Global Protein Supplements MarketSegmentation Analysis

The Global Protein Supplements Market is segmented on the basis of Source Type, Product Type, Application, Distribution Channel, and Geography.

Protein Supplements Market, By Source Type

• Plant-Based
  1. Soy Protein
  2. Pea Protein
  3. Spirulina
  4. Others
• Animal-Based
  1. Casein
  2. Whey
  3. Egg
  4. Fish
  5. Others

Based on Source Type, the market is segmented into Plant-Based and Animal-Based. In 2021, the animal-based segment accounted for the largest market share. The animal-based category includes casein, whey, egg, chicken, and beef as well as dairy and meat proteins. Since they include all nine necessary amino acids, proteins derived from animals are typically regarded as complete proteins. The most popular animal-based proteins in 2021 were whey and casein. However, because hydrolyzed whey proteins are more expensive than regular whey proteins, many companies that make whey supplements only use a minimal amount of them in their recipes.

On the other hand, plant-based proteins from sources like rice, pumpkin, etc. are typically combined with other plant-based proteins and sports supplements from sources like peas or soy to provide the human body with a complete and balanced protein content that also includes all of the essential amino acids. Soy is popular among customers because it contains all nine necessary amino acids. Its popularity stems from the presence of substances like glutamine, arginine, and BCAAs, which help in muscle regeneration and rapid absorption. The demand for soy and pea-based protein supplements is anticipated to be driven by customers who are lactose intolerant and who want additive-free products.

Protein Supplements Market, By Product Type

• Ready to Drink
• Protein Powder
• Protein Bar
• Others

Based on Product Type, the market is segmented into Ready to Drink, Protein Powder, Protein Bar, and Others. In 2021, the protein powder segment accounted for the largest market share. The powders are made from several sources, including whey, casein, soy, pea, and egg proteins. These powders are high in micronutrients including vitamins, greens (like dried vegetables), minerals, grains, fibers, extra fats, and/or thickeners. Furthermore, rising demand for these powders from bodybuilders, top athletes, and casual exercisers is expected to drive development in the protein powder industry. Over the projected period, ready-to-drink beverages are predicted to be the fastest-growing product. RTD supplements are protein drinks with a specific composition designed for immediate consumption. RTDs provide a high protein dosage and may thus be ingested pre, post, or on the fly. These proteins are quickly absorbed by the body and assist in both muscle rehabilitation and lean muscle building.

Protein Supplements Market, By Application

• Sports Nutrition
• Functional Food

Based on Application, the market is segmented into Sports Nutrition and Functional Food. In 2021, sports nutrition accounted for the largest market share. Protein supplements are widely employed in the sports and medical industries since they are used as dietary supplements by athletes such as athletes, bodybuilders, and others. The availability of sports nutrition products in supermarkets and convenience stores is likely to increase demand owing to exposure to a larger customer base, which includes lifestyle and recreational consumers. Furthermore, the rising demand for sports nutritional supplements to promote lean muscle growth, enhance performance, help in weight reduction, and boost stamina is likely to drive the growth of the sports nutrition segment in the approaching years.

Protein Supplements Market, By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Drug Stores
• Online
• Others

Based on Distribution Channel, the market is segmented into Supermarkets and Hypermarkets, Convenience Stores, Drug Stores, Online, and Others. In 2021, the Online segment accounted for the largest market share among the others. The increasing use of the internet for purchasing, shorter lead times, more convenience, and more savings are the primary drivers pushing protein supplement sales through online businesses. Shopping online is convenient and saves time and energy because there are more deals available. During the projection, internet retailers are anticipated to dominate the industry.

Due to the broad variety of goods offered at reasonable rates in numerous supermarkets and hypermarkets, both developed and emerging nations are seeing an increase in the popularity of fitness among consumers. Supermarkets and hypermarkets have a larger selection of items at reduced pricing. The rising popularity of supermarkets and hypermarkets in developing and established nations is predicted to improve product sales.

Protein Supplements Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, The Global Protein Supplements Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. In 2021, North America was the market leader and contributed the highest share of the market’s revenues. The industry’s expansion is anticipated to be aided by consumers’ high levels of awareness of health and wellness issues and their familiarity with the advantages of products. The demand for protein supplements in the region is anticipated to rise as the importance of leading a healthy lifestyle is emphasized along with an increase in disposable income.

Asia Pacific is anticipated to expand profitably throughout the projected period. Modernization and the growing desire for quick-to-drink (RTD) supplement choices in developing nations like China and India are the key factors driving product demand in the area. The Asia Pacific Protein Supplements Market is anticipated to be driven by shifting consumer lifestyles brought on by rising health and wellness consciousness during the forecast period.

Key Players

The “Global Protein Supplements Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Abbott Laboratories, AMCO Proteins, BPI Sports LLC, BRF, CytoSport, Inc., Dymatize Enterprises LLC, Gelita Ag, Glanbia, plc, Hoogwegt, International Dehydrated Foods, Inc., Iovate Health Sciences International Inc, JymSupplementScience, MusclePharm Corporation, Now Foods, QuestNutrition, Rousselot, RSP Nutrition, The Bountiful Company, Transparent Labs, and Woodbolt Distribution Llc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In September 2022, Tata Consumer Products has launched a plant-based protein powder, breaking into the market for health supplements. Women’s health supplement line Tata GoFit is a plant-based, simple-to-mix product made with the benefit of probiotics that are healthy for the gut. Tata GoFit was created specifically for women and has a unique composition with digestive-friendly enzymes and probiotics that are good for the gut.
• In May 2022, Soulfuel has launched Soulfuel protein powder, which focuses on gut health with a revolutionary mix of post-biotic Epicor, prebiotic Inulin, and digestive enzymes. A Prebiotic is a non-digestible dietary element that encourages the growth of helpful microorganisms in the intestines. Post-biotic is a bioactive molecule produced after probiotic bacteria in the stomach consume and break down fibers.
• In March 2022, In the summer of 2022, MusclePharm Corporation will introduce its new line of whey protein drinks, marking the company’s entry into the ready-to-drink protein market. With over 20g of protein per serving, zero sugar, and a variety of tastes, the new high-protein beverage line will be offered under the popular MusclePharm brand.
• In August 2021, WM Partners, a private equity group focusing on investing in middle-market firms in the health and wellness sector, acquired the Canadian plant-based protein brand, Vega. Vega’s primary focus was on high-quality plant-based protein powders in a variety of categories, including Daily Nutrition, Sports Nutrition, and Functional Wellness. Its goods are made out of actual, plant-based culinary components. Beyond its natural channel roots, the brand has effectively extended to become a top brand in both traditional and e-commerce channels.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Protein Supplements Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in the global Protein Supplements Market, gauge the attractiveness of a certain sector, and assess investment possibilities.