Press release
Global Nutrition Powder Market Value Likely to Increase at a CAGR of 4.90% During the Forecast Period 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analyzes the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Nutritional Powder Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.90%
The nutrition powder market is expected to expand rapidly during the forecast period due to the growing number of health-conscious customers around the world. Individuals are more inclined to include some nutritional supplements so that a full nutritional diet can be achieved.
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The increased demand for supplements is also aided by the increasingly busy and sedentary lifestyle of people. In addition, the rising number of campaign activities by market players has propelled the market growth further by spreading awareness about the products.
North America is expected to dominate the market due to the presence of a huge consumer base and established market players in the region. Higher consumer awareness about the various types of products available in the market has also further propelled market growth in the region as it compels manufacturers to introduce new and innovative flavoured products.
Nutrition Powder Industry Definition and Major Segments
Nutritional powders are supplements that can be consumed by anyone, including common, people, athletes, and someone with a medical condition. They are beneficial for the consumer as it allows them to gain nutrients that are lacking in their diet. Nutrition powders can provide different types of nutrients, such as vitamins, proteins, and minerals, among others. Therefore, the continuous rising awareness among people for wellness and fitness has propelled market development.
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The segments of the market, based on product type, include:
• Egg Protein
• Pea Protein
• Casein Protein
• Brown Rice Protein
• Hemp Protein
• Mixed Plant Protein
• Whey Protein
• Others
Based on the distribution channel, the market divisions include:
• Hypermarkets and Supermarkets
• Speciality and Drug Stores
• Online Stores
• Institutional Sales
• Convenience Stores
Based on region, the market for nutrition powder can be segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Nutrition Powder Market Trends
The rising dominance of hectic lifestyles has resulted in significant growth of on-the-go food consumption, which has propelled global demand for protein supplements. Demand for the product has also risen because of growing fitness awareness among customers who are willing to gain a high-nutrition diet.
The animal-based protein supplements are increasing in price which has increased the demand for more cost-effective products. Market players are more focused on developing nutritional products with plant-based proteins, such as soy, peas, rice, and hemp, among many others. The trend of following a vegan diet is another factor propelling the demand for plant-based proteins and other vegan nutritional products.
The ready-to-drink (RTD) protein market is seeing growth as water or clear-base beverages with high protein content, in addition to new hot protein RTD products, are being widely consumed around the world.
The protein supplement market has surged due to the presence of high-protein alternatives, thanks to market players developing methods to add protein content to a wide range of everyday foods and snacks, which has had a beneficial influence on the market for protein powder.
Key Market Players
The major players in the nutrition powder market report include
• Bright Lifecare Private Limited (MuscleBlaze)
• Ultimate Nutrition Inc.
• (Health Sciences International Inc.) MuscleTech®
• Superior Supplement Manufacturing
• PreMark Health Science
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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