Protein Supplement Market expected to grow over a CAGR of 7% during 2018-2025 |Glanbia Plc, GNC Holdings, Inc., Iovate Health Sciences International Inc., Quest Nutrition, LLC, and NOW Foods.
Demand for sports and fitness nutritional supplements driving the protein supplement market across the globe
Proteins supplements are consumed as sports and fitness nutrition products to enhance athletic performance; it includes minerals, vitamins, amino acids, herbs. Due to shift in consumers’ preference towards self-grooming outlook and fitness trend, protein supplements had gained higher popularity among younger generation, sports person and fitness enthusiast working adults. Owing to increasing cases of health problems such as malnutrition, weak immune systems and obesity, consumers are considering protein-rich food and beverages like protein supplements and sports nutrition products that offers the right amount of health benefits and nutrition. Increase in the health and fitness-conscious population, particularly in males, across the globe will propel the demand for sports nutrition products. Further, an increase in consumer income will boost the sales of protein supplements as consumers affordability had increased. Furthermore, ongoing trend of joining gyms and bodybuilding centers encourages consumers to buy protein supplements products to enhance body immune system and build muscles, hence raising the global demand for protein supplements products.
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Scope of the Report
The global protein supplement market is segmented on the basis of product type, source type, form type, application type, and distribution Channel. On the basis of product type, the market is segmented into Whey protein, Egg protein, Casein protein, Soy protein, Pea protein, others. The whey protein contributed the largest revenue to the global protein supplement market in 2017 and is estimated to witness the highest growth during 2018-2025. Based on the source, the market is segmented into Animal-based source and Plant-based source. The demand for animal-based is expected to grow at the fastest rate, during the forecast period. Based on Form, the market is segmented into Protein powder, RTD, Protein bars and others. Protein powder generated the highest revenue for the global protein supplement market in 2017. On the basis of distribution channel, the market is segmented into Supermarket, Online Stores, Direct Customers, and Others. Online Stores generated the highest revenue for the global protein supplement market and is expected to grow at the fastest rate during the forecast period. Based on application, the market is further segmented into sports nutrition and functional food. Sports Nutrition based application contributed the largest revenue in 2017 and is expected to witness the highest growth during 2018-2025.
On the basis of region the market is segmented into five parts namely North America, Europe, Asia Pacific, Middle-East, Africa and Latin America. North America was the largest region in the global protein supplement market in 2017 and it is estimated to grow over a CAGR of 6.9% during 2018-2025.
The global protein supplement market is dominated by a number of players, amongst them the major players are Glanbia, Plc, NOW Foods, AMCO Proteins, MusclePharm Corporation, Abbott Laboratories etc. Companies in this industry are following different strategies to strengthen their market position. For instance, In April, 2016, Abbott Laboratories introduced their new nutrition product line for better sports performance under the brand name MYOPLEX. The products provide nutrition for before, after and during workouts.
Market Segmentation: Global Protein Supplement Market
• Whey Protein
• Egg protein
• Casein protein
• Soy protein
• Pea protein
• Protein Powder
• Protein Bars
• Sports Nutrition
• Functional Foods
By Distribution Channel
• Online Stores
• Direct Customers
In addition, the report provides analysis of the protein supplement market with respect to the following geographic segments:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
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