Latest Report and Analysis 2023 | Protein Supplements Market to be Worth US$ 6.7 Billion by 2023: Market Poised for Significant Growth as Health-Conscious Population Grows

The global protein supplements market is expected to surpass US$ 10.1 billion by 2030, with an annual growth rate of more than 6%, registering an incremental opportunity of more than US$ 3.4 billion between 2023 and 2030.

Global Protein Supplements Market is valued at US$ 6.7 billion in 2023 and is expected to grow at a significant CAGR of over 6% over the forecast period of 2023-2030, according to the published market report by RationalStat

Market Definition, Market Scope, and Report Overview

Due to the growing number of exercise facilities and health-conscious consumers worldwide, the industry is expanding. Demand for protein supplements is anticipated to increase due to the rising popularity of protein supplements among millennials and their desire to improve their health through a well-balanced diet. Due to changing lifestyles, there will be an increased reliance on supplements to meet daily nutritional needs, increasing the demand for protein supplements.

The requirement for protein sources grows along with the demand for protein supplements. Traditional protein sources like whey and animal-based sources have an impact on the environment in terms of greenhouse gas emissions, water use, and land use. An important factor for the protein supplements market is looking for sustainable protein substitutes and using eco-friendly procedures in creating and packaging protein supplements.

Health and fitness are becoming increasingly important in the world. As people's awareness of their physical well-being increases, protein is necessary for healthy muscle development, healing and maintenance. The need for protein supplements rises as fitness fads like weightlifting, bodybuilding, and intense workouts become more widespread.

• According to a deep-dive market assessment by RationalStat, the global protein supplements market has been analyzed on the basis of market segments, including type, crop, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global protein supplements market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global protein supplements market. It also includes the industry's current state - Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Protein Supplements Market: Segmental and Market Share Analysis

• On the basis of product, protein powders are anticipated to gain a significant market share in the forthcoming years owing to its use and versatility.
Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 6.7 billion
Market Size Forecast US$ 10.1 billion
Growth Rate 6%

Key Market Drivers
• Changing Food consumption trends
• Convenience-focused eating habits
• Dietary restrictions on natural protein intake
• Introduction of new technologies

Companies Profiled
• Glanbia, plc
• MusclePharm Corporation
• Abbott Laboratories
• CytoSport, Inc
• Lovate Health Sciences International Inc
• Transparent Labs
• NOW Foods
• Dymatize Enterprises LLC
• RSP Nutrition
• BPI Sports LLC
• BRF
• AMCO Proteins
• THE BOUNTIFUL COMPANY
• GELITA AG
• Hoogwegt
• International Dehydrated Foods, Inc
• WOODBOLT DISTRIBUTION LLC
• Rousselot

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Competition Analysis and Market Structure

Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players. Some of the key developments in the global protein supplements market include,

• In November 2022, a brand-new FerriUp whey protein concentrate for women was introduced by Glanbia Nutritional. The company's range of women's protein products will provide more with this launch.

• In February 2022, the new SOYJOY plant-based line, which comprises whole-soy nutritional bars in chocolate and banana flavors, was introduced by Otsuka Pharmaceutical Co., Ltd.

Some of the prominent players and suppliers operating and contributing significantly to the global protein supplements market growth include Glanbia, plc, MusclePharm Corporation, Abbott Laboratories, CytoSport, Inc, Lovate Health Sciences International Inc, Transparent Labs, NOW Foods, Dymatize Enterprises LLC, RSP Nutrition, BPI Sports LLC, BRF, AMCO Proteins, THE BOUNTIFUL COMPANY, GELITA AG, Hoogwegt, International Dehydrated Foods, Inc, WOODBOLT DISTRIBUTION LLC, and Rousselot, among others.

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RationalStat has segmented the global protein supplements market based on product, source, application, distribution channel, and region
• Global Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Product
o Protein Powders
o Ready-to-Drink
o Protein Bars
o Others
• Global Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Source
o Animal-based
o Whey
o Casein
o Egg
o Fish
o Others
o Plant-based
o Soy
o Spirulina
o Pumpkin Seed
o Wheat
o Hemp
o Rice
o Pea
o Others
• Global Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
o Sports Nutrition
o Functional Food
• Global Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
o Online Stores
o Supermarkets & Hypermarkets
o Direct-to-customer (DTC)
o Others
• Global Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
o North America Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Protein Supplements Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Protein Supplements Report:
• What will be the market value of the global protein supplements market by 2030?
• What is the market size of the global protein supplements market?
• What are the market drivers of the global protein supplements market?
• What are the key trends in the global protein supplements market?
• Which is the leading region in the global protein supplements market?
• What are the major companies operating in the global protein supplements market?
• What are the market shares by key segments in the global protein supplements market?

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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat LLC
Kimberly Shaw,
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical

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