Protein Powder Market Dynamics, Growth Drivers, Market Constraints and Challenges 2024

According to Precision Business Insights (PBI), the latest report, the market value of the Protein Powder Market size was valued at USD 14,609.8 million in 2023 and is expected to reach USD 20,925.5 million in 2029, growing at a 7.8% CAGR from 2024 to 2030. The primary factors that drive the market are the changing lifestyle lacking nutrient values in the diet, rising health consciousness, and increasing demand for protein supplements in the market.

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The Protein Powder Market Detailed Segmentation:
Based on the product type, the market is segmented into the following:
• Organic
• Conventional

Based on the application, the market is segmented into the following:
• Dietary Supplements
• Food and Beverages
• Sports Nutrition
• Infant Food Formula
• Pharmaceuticals
• Others

Based on the distribution channel, the market is segmented into the following:
• Supermarkets and
• Hypermarkets
• Pharmacy Stores
• Online Stores
• Others

Conventional Protein Powder to Dominate the Protein Powder Market:
Based on product type, conventional holds the highest market share. The high awareness of the general population about the utility of protein due to different awareness programs by the US FDA, different online health newsletters, and promotional advertisements by the protein powder selling companies mainly contributed to the hyper popularity of the protein intake. The term hyper-popularity is used here by a report published by the US National Library of Medicine which states that most of the people who take regular protein supplements are psychologically modified in that they are not getting enough protein from their diet without any idea about how much protein are they getting. These factors can drive the Protein Powder Market growth.

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Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific region is expected to grow significantly in the protein powder market size over the forecast period, this is attributed to the increasing number of malnutrition patients such as marasmus and kwashiorkor diseases are growing in the region, rapidly growing healthcare infrastructure and health consciousness among the people. China, India, and Japan are the emerging markets for protein powder, it is predicted to grow significantly as increase in awareness across the region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Protein Powder Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

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Key players in the Protein Powder Market report are Abbott Laboratories, Danone, Gelita AG, Glanbia PLC, Herbalife International, Inc, Hoogwegt, MusclePharm, Nestlé S.A., Rousselot, and Vitaco.

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This release was published on openPR.