Global Protein Supplement Market Size, Segments, Outlook, and Revenue Forecast 2022-2028:Ken Research

Protein is a macronutrient that the human body needs to repair tissue, develop muscle, and produce enzymes and hormones. It is one of the components that make up skin, muscle, and bone. In addition to being present in a wide range of specially made drinks, bars, and powders, protein can also be found in foods including dairy, eggs, red meat, chicken, fish, nuts, tofu, and legumes. In addition, protein supplements can be beneficial as a component of their overall strategy. Bodybuilders and sports athletes frequently utilize protein supplements as a form of nutritional and bodybuilding supplement to enhance their protein intake without simultaneously increasing their intake of carbohydrates and fats. When taken directly, these supplements have a higher protein content than other protein sources.

According to Ken Research Analysis, the Global Protein Supplement Market was valued at ~US$ 15 billion in 2017. It is estimated to be ~US$ 20 billion by 2022 and is expected to reach a market size of ~US$ 30 billion by 2028 growing at a CAGR of ~7% during the forecast period (2022-2028). Due to changing lifestyles, there will be an increased reliance on supplements to meet daily nutritional needs, which will increase the demand for protein supplements.

Youth's demand for protein supplements is rising, especially among athletes because they offer several advantages like decreasing cholesterol, developing muscle, boosting strength, preventing cancer, boosting immunity, and lowering blood pressure.

The market for protein supplements is expected to experience some growth restraints due to the prevalence of less expensive alternatives and various detrimental effects of protein enhancement. Additionally, during the forecast period, negative claims and publicity may pose a threat to the market's expansion.
In response to the COVID-19 pandemic, customer preferences for nutritional supplements to promote immunity are predicted to increase due to these products' strong efficiency against viral infections and acute respiratory tract disorders, which is expected to drive market demand. Additionally, the rapid spread of COVID-19 has raised consumer worries about health and well-being as a preventative measure against disease, which may support the market trends for protein supplements in the wake of the coronavirus outbreak.

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Key Trends by Market Segment

By Source: Animal-based segment held the largest market share in 2021, due to convincing scientific proof of the health advantages they provide. For instance, whey proteins improve nutritional status, immunity, and aid cancer patients receiving chemotherapy by raising glutathione (GSH) levels.

The category includes casein, whey, egg, chicken, beef, dairy, and meat proteins. Animal proteins are typically thought to be complete proteins since they include all of the required amino acids.

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By Product: The protein powder segment held the largest market share in 2021. The demand for nutritious food products has increased as a result of changing lifestyles, growing urbanization, and changed product choices of consumers, and is likely to drive the market growth of protein powder.

Whey, casein, soy, pea, and egg proteins are just a few of the sources used in the production of the powders. Protein powders are packed with vital micronutrients, including vitamins, minerals, grains, fibers, extra fats, and/or thickeners, as well as greens (like dried veggies).
Protein Powder aid in constructing and toning muscles, producing hormones and enzymes, losing weight, and healing bodily tissues. Additionally, it is projected that the growing demand for these powders from bodybuilders, professional athletes, and recreational exercisers would accelerate the expansion of the protein powder market.

By Distribution Channel: Supermarket & hypermarket segment held the largest market share in 2021 since it is convenient to shop and a variety of brands are available.

Supermarkets and hypermarkets provide a vast range of products at lower costs. The expansion of supermarkets and hypermarkets in both developing and developed nations as a result of rising consumer demand is anticipated to boost product sales.
To encourage the sale of protein goods, major USA retailers like Walmart are entering this market and investing in private label variations.

By Application: Sports nutrition segment held the largest market share in 2021, owing to their widespread use as nutritional supplements by athletes, sportspeople, and bodybuilders.

Rising demand for nutritional supplements for athletes to support lean muscle growth, enhance performance, help with weight loss, and increase stamina is anticipated to fuel the expansion of the sports nutrition market over the coming years.
The rise in the number of people participating in sports and other physical activities to combat obesity is probably going to boost market expansion.

By Geography: North America held the largest market share in 2021, due to high customer awareness of health and wellbeing, as well as knowledge of the benefits of the products.

Major distribution channel segments in the North American market include functional foods and sports nutrition. This might be due to consumers' growing interest in fitness in the USA, Canada, and Mexico, which is anticipated to increase demand for functional foods and drinks.
Additionally, the rising popularity of protein bars, shakes, and cookies among millennials as a healthy snacking choice is anticipated to significantly increase demand for protein supplements in North America over the forecasted period.

Competitive Landscape

The Global Protein Supplement Market is highly competitive with ~250 players which include globally diversified players, regional players, and country-niche players with their niche in the protein supplement.

County-niche players constitute ~45% of the competitors, while the regional players are the second largest by type. Some of the major players in the market include Glanbia PLC, Abbott., NOW® Foods, MusclePharm, QuestNutrition, CytoSport, Inc., Iovate Health Sciences International Inc., The Bountiful Company, AMCO Proteins, Transparent Labs, among others. 

Recent Developments Related to Major Players

In July 2022, Optimum Nutrition, a division of Glanbia PLC, has begun production in India. The brand, which had previously only been made in the USA and the UK for international distribution, now has a third manufacturing facility in India.
In April 2021, Nestlé increases its health and nutrition portfolio by acquiring The Bountiful Company's primary brands.
In March 2019, Quest Nutrition signed distribution agreements with Sam's Club and BJ's Wholesale to sell its products in traditional grocery shops, convenience stores, and specialist supplement stores.

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Key Topics Covered in the Report

Snapshot of the Global Protein Supplement Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Protein Supplement Market
Historic Growth of the Overall Global Protein Supplement Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of the Global Protein Supplement Industry
Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
COVID-19 Impact on the Overall Global Protein Supplement Market
Future Market Forecast and Growth Rates of the Total Global Protein Supplement Market and by Segments
Market Size of Application Segments with Historical CAGR and Future Forecasts
Analysis of Global Protein Supplements in Major Regions
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Region

Major Players Mentioned in the Report

Glanbia PLC
NOW® Foods
QuestNutrition
CytoSport, Inc.
Lovate Health Sciences International Inc.
The Bountiful Company
AMCO Proteins
Transparent Labs

Notable Emerging Companies Mentioned in the Report

Woodbolt Distribution Llc
Dymatize Enterprises Llc
RSP Nutrition
BPI Sports
The Hut.com Limited and MSM Retail Pvt Ltd.

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Protein Supplement Companies
R&D Institutes for Protein Supplement Development
Protein Supplement Manufacturers
Protein Supplement Suppliers
Protein Supplement Raw Material Provider
Investment Banks Targeting Supplement Market
Caffeine Producers
Food Safety Authorities
F&B Marketing and Advertising Agencies
F&B Research Institutes
Entrepreneurs in Food Industry
Potential Entrants into Food Industry
Government Departments for Food Standards
Government Ministries and Departments for Food Industry

For more insights on the market intelligence, refer to the link below: -

https://www.kenresearch.com/business-research/global-protein-supplement-market-outlook-2028/

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