Rising Demand for Protein Supplements: Global Market Report 2024

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Protein Supplements Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $33.24 billion In 2028 At A CAGR Of 10.6% :

The protein supplements market size has grown strongly in recent years. It will grow from $20.39 billion in 2023 to $22.25 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increasing fitness and health consciousness, growing awareness of protein benefits, expanding sports nutrition industry and nutrition trends, product innovation and diverse offerings.

The protein supplements market size is expected to see rapid growth in the next few years. It will grow to $33.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to continued focus on health and wellness, rising adoption of plant-based diets, e-commerce expansion and direct-to-consumer models, personalization and targeted nutrition, integration of protein supplements in everyday diets. Major trends in the forecast period include innovations in textures and formats, sports nutrition and performance enhancement, rise of collagen supplements, brand transparency and trust, social media influence on marketing.

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Protein Supplements Market Major Segments
The protein supplements market covered in this report is segmented -

1) By Type: Protein Powder, Protein Bar, Ready to Drink
2) By Source: Plant-based, Animal-based
3) By Raw Material: Casein Protein Supplements, Whey Protein Supplements, Egg Protein Supplements, MPC Protein Supplements, Soy Protein Supplements
4) By Distribution Channel: Supermarkets & Hypermarkets, Online Stores, Drug Stores

Key Driver - Rising Demand For Supplements To Drive Market Growth

The rise in customer preference for food supplements is driving the protein supplements market. Food Supplements are intended to make up for deficiencies among individuals through their regular diet. The desire to lead active and healthy lifestyles has increased participation in sports and fitness activities, driving the demand for food supplements, especially protein supplements. For instance, in October 2022, according to the Consumer Survey on Supplements, a 2022 online survey among 3,133 U.S. adults age 18+, and 2,342 adults consuming supplements seasonally, conducted by The Council for Responsible Nutrition (CRN), a US-based trade association representing more than 200 supplement and functional food manufacturers, 75% of Americans use supplements where majority of supplement users are regular users. Thus, an increase in customer preference for food supplements is expected to boost the demand for protein supplements during the forecast period.

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Prominent Trend - Strategic Partnerships Transforming The Protein Supplements Market

Strategic partnership is a key trend gaining popularity in the protein supplements market. The companies operating in the protein supplement sector are focusing on entering strategic partnerships to expand their market reach and leverage each other's resources in new product development & marketing activities. In October 2021, a New Jersey-based company that creates collagen supplements entered a partnership with Entenmann's, owed by Bimbo Bakeries USA. The partnership aims to create a new collagen protein powder with Entenmann's chocolate chip cookies as inspiration. Entenmann is a US-based company that manufactures and delivers baked goods.

Protein Supplements Market Players
Major companies operating in the protein supplements market report are Nestle SA, Abbott Laboratories, GlaxoSmithKline plc, Mondelez International Inc., ABB Ltd., Kerry Group plc, Amway Corporation, Meiji Holdings Company Ltd., Glanbia plc, Post Holdings Inc., Herbalife International of America Inc., The Hut Group plc, The Himalaya Drug Company, The Nature's Bounty Co, NOW Health Group Inc., BPI Sports LLC., Scitec Nutrition Ltd., Quest Nutrition LLC, Nature's Best Isopure, thinkThin Inc., Reliance Vitamin Company Inc., MuscleTech Research and Development Inc., CytoSport Inc., Weider Global Nutrition LLC, Dymatize Enterprises LLC, MusclePharm Corporation, RSP Nutrition, Optimum Nutrition Inc., Amazing Grass LLC, Bank Simpanan Nasional, Cellucor Nutrition, Professional Supplements, Redcon1 LLC, Rule One Proteins LLC, Universal Nutrition, Vega Industries Private Limited, Garden of Life LLC, Sun Brothers LLC, Naked Nutrition

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Largest And Fastest Growing Region In The Market
North America was the largest region in the protein supplements market in 2023. Asia-Pacific is expected to be the fastest-growing region in the protein supplements market share during the forecast period. The regions covered in the protein supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Protein Supplements Market Report Structure
3. Protein Supplements Market Trends And Strategies
4. Protein Supplements Market - Macro Economic Scenario
5. Protein Supplements Market Size And Growth
…..
27. Protein Supplements Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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