Enjoy complimentary customisation on priority with our Enterprise License!
The protein supplements market size is estimated to grow at a CAGR of 8.18% between 2022 and 2027. The protein supplements market size is forecast to increase by USD 10.9 billion. The growth of the market depends on several factors, including growing interest in sports and fitness activities, an increase in awareness about physical appearance, reduced chances of diseases, and improved quality of life.
This protein supplements market report extensively covers market segmentation by source (animal-based and plant-based), distribution channel (retail outlets and online stores), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The growing interest in sports and fitness activities is notably driving the market growth, although the presence of counterfeit products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing interest in sports and fitness activities is notably driving the protein supplements market growth. The growing global awareness of fitness and a healthier lifestyle has led to an increase in the number of fitness facilities around the world. This is a recent global trend, with more and more people signing up for gym memberships and other fitness pursuits. There is an increase in attendance at events and other popular sporting events such as major soccer, rugby, basketball, football, baseball, and cricket leagues around the world. This has led to an increased awareness of different sports and related activities and the need to stay fit like an athlete. Additionally, increasing awareness campaigns on physical fitness are making people opt for different sports, gyms, and related activities.
Endorsements by celebrities and sportspersons are a key trend influencing the protein supplements market growth. To promote fitness among the masses, sports brands launched various creative advertising campaigns by seeking endorsements from famous athletes such as Michael Jordan and Zlatan Ibrahimovic. Social media has also proven to be an ideal platform for launching fitness campaigns. Various sports and fitness brands are working with famous athletes, celebrities, and other influencers to spread awareness about the benefits of staying fit. For example, Muscle Blaze recently released a video demonstrating an individual's hard work and dedication to fitness to promote their own brand of protein supplements. Additionally, several sports personalities have posted on social media promoting the use of protein supplements. Therefore, the endorsements of celebrities and athletes will boost the growth of the market during the forecast period.
Along with all this, protein supplement packaging is considered to be a game changer in today's market. Although new players enter the market each year as the demand for protein supplements grows, the nature of protein supplements has not changed much. For example, the single-dose pack design is gaining attention in the market because it is clean to use and convenient to carry. Similarly, premixed beverages are a convenient, on-the-go consumer protein supplement solution. Vendors in the market are eyeing eye-catching and smart packaging, and this trend is expected to continue as the demand for protein supplements rises. Such factors will also drive the growth of the market during the forecast period.
The presence of counterfeit products is challenging the protein supplements market growth. The market is seeing an increase in counterfeit products that use inferior or counterfeit ingredients and pose potential health risks to consumers. To attract consumers, these products are cheaper than the original branded products. For example, tests conducted in the United States and South Korea showed that Craze, one of the popular sports supplements widely available in the United States and other countries, was contaminated with chemicals such as methamphetamine, believed to be illegal recreational drugs. As such, the fact that the company markets products using only natural ingredients raises significant health and regulatory concerns. Recognized brands in high demand use similar packaging and labeling. Counterfeit protein powders are often sold through underground distribution channels.
For example, under the Optimum Nutrition Glanbia brand, counterfeit products with the same name and similar packaging were found. To prevent buyers from purchasing counterfeit products, the company's website and other online sales channels offer detailed comparisons of genuine and counterfeit products. It also highlights how these counterfeits can harm the body and encourages shoppers to check brand labels and packaging before purchasing. Qualities such as solubility, texture, taste, and side effects can also help distinguish genuine from counterfeit products. Therefore, counterfeit goods cannibalize the brand /image of major products and cannibalize the market share of major brands. This is a big challenge for the market. Therefore, the presence of counterfeit products is one of the major challenges hindering the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Protein Supplements Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories: The company offers different types of protein supplements along with that it also offers pediatric and adult nutritional products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the animal-based segment will be significant during the forecast period. Animal-based protein supplements are derived from animal foods such as eggs and milk. It is used in a variety of food applications including desserts, sports nutrition products, dietary supplements, and baked goods. Protein ingredients derived from dairy are used in nutritious foods, especially sports and infant nutrition products. One of the main reasons for introducing plant-based protein ingredients is their cost advantage compared to animal-based protein supplements. The increasing incidence of diseases such as bovine spongiform encephalopathy (BSE) is challenging this market. However, with the increase in animal disease outbreaks expected to make raw products partly harmful to consumption, there will be even more room for innovation in animal protein supplements in the near future. It will drive the growth of the market during the forecast period.
Get a glance at the market contribution of various segments View the PDF Sample
The animal-based segment was valued at USD 10.28 million in 2017 and continued to grow until 2021. Milk protein concentrate (MPC) is concentrated milk containing 40% to 90% milk protein. Used in the production of nutritional drinks, infant formula, sports nutrition products, and other dairy products. It replaces products such as skim milk powder and is used in low-carb dairy products. In addition, it is inexpensive and flexible for use in dairy products. Therefore, the animal-based segment is anticipated to drive the growth of the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 40% to the growth of the global protein supplements market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The United States in the North American region leads the protein supplement market, followed by Canada, Brazil, and other American countries due to the high acceptance and prevalence of dietary supplements containing protein supplements in these countries. Demand for plant-based protein supplements is increasing as people in the United States become more health-conscious and are encouraged to choose naturally-derived products. The region is home to several protein supplement suppliers. It also has an effective supply chain network that facilitates vendor distribution and increases awareness of these products. Companies with significant market experience and strong financial credibility are driving demand for these products in the region.
The COVID-19 outbreak impacted the global economy in the first half of 2020. Different governments imposed strict lockdowns and travel restrictions to curb the spread of the pandemic. The pandemic reduced protein supplement manufacturing due to business closures and government restrictions on people's movement. However, the demand for protein supplements increased along with the presence of e-commerce channels. The launch of a large-scale vaccination campaign lifted lockdown restrictions and restarted industrial activity, increasing demand for protein supplements globally. Demand for protein supplements has increased since the first half of 2021 due to the presence of offline and online channels. Therefore, the global protein supplements market is expected to witness significant growth during the forecast period.
The protein supplements market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global protein supplements market as part of the global pharmaceuticals market for the overall healthcare industry. The parent global pharmaceuticals market includes products and companies engaged in research and development or production of generic, non-generic, and veterinary drugs. Technavio calculates the global healthcare market size based on the total revenue generated by manufacturers/suppliers of equipment, consumables, pharmaceuticals, biotechnology, life science tools, and services.
|
Protein Supplements Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
163 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 8.18% |
|
Market growth 2023-2027 |
USD 10.9 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
7.6 |
|
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
|
Performing market contribution |
North America at 40% |
|
Key countries |
US, France, Germany, Russia, and China |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Abbott Laboratories, Amway Corp., BioTech USA Korlatolt Felelossegu Tarsasag, Darling Ingredients Inc., Gelita AG, Glanbia plc, GlaxoSmithKline Plc, Herbalife International of America Inc., Iovate Health Sciences International Inc., Makers Nutrition, Meiji Holdings Co. Ltd., Nestle SA, NOW Health Group Inc., PepsiCo Inc., Post Holdings Inc., Purus Labs, TheHutGroup.com Ltd., Transparent Labs, Vitaco Ltd., and Weider Global Nutrition LLC |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Source
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
