Global Protein Supplement Market -Europe is the growing demand for fitness supplements from consumers and athletes

The Global protein supplement market is forecast to grow at a CAGR 6.0% to 7.0% during the forecast period 2018-2024. The growth of the market can be attributed to rising awareness about the benefits of including healthy diet & exercise and the growing demand for higher protein density in mainstream diet.
Rising health awareness among the consumers drives the growth of the industry. The growing demand for fitness supplements from consumers and athletes is expected to fuel market growth over the forecast period. The major restrain for the global protein supplements market is availability of cheap substitutes of protein supplements along with negative publicity & false claims affect the reputation of the protein supplement industry.

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The report analyses the global protein supplements market by source, raw material, product, distribution channel and application. By source the market is further segmented into animal based and plant based. Animal based protein supplements was the dominant segment due to easy availability and presence of high nutritional value. Plant based protein supplements is expected to grow at higher CAGR during the forecast period.

By raw material the global protein supplements market is bifurcated into whey, casein, soy, pea and others (egg protein, wheat, rice, canola and collagen). Whey was the fastest growing raw material segment accounted for the highest CAGR. Pea raw material segment is expected to witness a growth in the forecast period followed by soy and casein.

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Based on product, the global protein supplements market is segmented into protein powder, protein bars, ready to drink and others. Protein powder dominates the protein supplements market due to increase in demand from athletes, body builders, and casual exercisers. Ready to drink segment is expected to witness fastest growth rate.

The distribution channel use by the protein supplements manufacturers is divided into supermarkets and hypermarkets, online stores, convenience stores, drug stores and others (Chemist, speciality sports store). Online stores accounted for majority sales due to increasing number of internet users, ease of access, fast paced lifestyle, 24/7 availability, convenience and access to wide options.

Axiom Market Research & Consulting™ (also known as Axiom MRC), is a full-service market research and data analytics firm, driven by a simple aim of providing key market intelligence to companies to assist them in taking informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc.

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This release was published on openPR.