U.S. Protein Supplement Marketto Reach $3.58 Billion by 2028: Allied Market Research

As per the report published by Allied Market Research, the U.S. protein supplement market is projected to reach $3.58 billion by2028, registering at a CAGR of7.7% from 2021 to 2028. The report outlines market characteristics, growth by segmentation, market potential, and competitive landscape.

Shankar Bhandalkar, a Team Lead, Food and Beverages at Allied Market Research, said, “The demand for protein supplements among Millennials is projected to showcase the highest CAGR of 8.1% during the forecast period and will continue to hold a dominant share by 2028.”

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The study offers an in-depth analysis of the market dynamics including drivers, restraints, challenges, and opportunities to aid the key market players devise business strategies and capitalize on opportunities. Rise in awareness among people for health & fitness, surge in disposable income, rise in obesity rate, and increase in demand from millennial population drive the growth of the U.S. protein supplement market. However, side-effects and negative publicity & claims and presence of cheaper substitutes hinder the market growth. On the contrary, surge in demand from the young population is expected to open new opportunities for the market players in the future.

The report provides a detailed study of the impact of the Covid-19 pandemic on the U.S. protein supplement market. The Covid-19 impact analysis is vital for market players to formulate strategies regarding the current scenario and improve business model for the future. The pandemic has presented several challenges such as disruption of the supply chain and increased prices of raw material. Moreover, the shortage of labor and raw material has resulted in a supply-demand gap in the market.

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The report includes a comprehensive analysis of the segmentation of the U.S. protein supplement marketon the basis of type, form, source, gender, age group, and distribution channel. The study is vital for investors, new market entrants, and stakeholders to understand the fastest-growing segment and highest-growing segment during the historic period and forecast period.

On the basis form, the RTD liquid market held the fastest CAGR of 8.7% during the forecast period. However, the powder segment held the lion’s share in 2019 and will continue to dominate in terms of revenue by 2028.

Based on type, the whey protein segment is expected to hold the largest share during the forecast period. However, the soy protein segment is projected to manifest the highest CAGR of 8.8% during the forecast period.

On the basis of source, the animal segment is anticipated to maintain dominance in terms of revenue during the forecast period and would showcase the highest CAGR of 7.8% from 2021 to 2028.

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The U.S. protein supplement market report includes a detailed study of the major market players such as Abbott Laboratories, Amway Corporation, ABH Pharma Inc., GlaxoSmithKline, Glanbia Corp., Herbalife International of America Inc., GNC Holdings, MusclePharm Corporation, and Bob's Red Mill, Nutiva Inc.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.