The increased reliance on supplements to meet daily dietary requirements as a result of changing lifestyles is likely to drive the demand for protein supplements, the Protein Supplement Market is Forecasted to Reach US$ 30 Bn by 2028 says Ken Research Study.
Protein is a macronutrient that the human body needs to repair tissue, develop muscle, and produce enzymes and hormones. It is one of the components that make up skin, muscle, and bone. In addition to being present in a wide range of specially made drinks, bars, and powders, protein can also be found in foods including dairy, eggs, red meat, chicken, fish, nuts, tofu, and legumes. In addition, protein supplements can be beneficial as a component of their overall dietary strategy. Bodybuilders and sports athletes frequently utilize protein supplements as a form of nutritional and bodybuilding supplement to enhance their protein intake without simultaneously increasing their intake of carbohydrates and fats. When taken directly, these supplements have a higher protein content than other protein sources.
According to Ken Research estimates, the Global Protein Supplement Market – which grew from around US$ 15 billion in 2017 to nearly US$ 20 billion in 2022 – is expected to grow further into a ~US$ 30 billion opportunity by 2028.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
Increased Demand for Sports Nutrition Supplements will Propel the Market Growth
Consuming nutrients such as vitamins, proteins, supplements, fats, carbs, minerals, and organic compounds are referred to as sports nutrition. Sports nutritional goods, such as sports drinks, sports supplements, and sports foods, are marketed toward bodybuilders and strength & endurance athletes to boost their overall performance, stamina, and health. Due to regulated release and minimal component usage, nano- and microencapsulation technologies have become more and more popular in recent years. It is anticipated that expanding distribution channels for encapsulation technology would open up new markets for sports nutrition components. Additionally, the penetration of protein supplements in the sports nutrition sector is anticipated to be aided by the expanding use of naturally derived components in light of growing health concerns regarding synthetic substances.
Increasing Consumer Concern with Nutrition and Health in boosting the Market Growth
The growing consumer understanding of the nutritive benefits of protein supplements as a result of several awareness efforts launched by non-governmental organizations, governmental organizations, and private corporations is anticipated to fuel market expansion. Additionally, in many nations, consuming high-quality protein bars and powders is seen as a sign of social standing. Natural and organic products are sometimes included by manufacturers of nutritional supplements, which further stimulates the market. Utilizing eye-catching packaging techniques has increased consumer awareness and encouraged the purchase of protein and nutritional supplements.
High Production Costs as a Result of Fluctuating Raw Material Prices
It is anticipated that the prices of protein supplements will fluctuate as a result of volatility in the pricing of raw materials, particularly milk and soybean, as a result of demand and supply constraints. The primary basic material utilized to make whey and casein proteins is milk.
When the milk enters refineries, it transforms into a variety of products that are traded internationally, including whey concentrates, isolates, casein concentrates/isolates, cheese, yogurt, and milk powder. Depending on political and economic conditions, milk prices may rise or fall. Milk production is also influenced by seasonal trends; because of cows’ calving habits, the milk supply is higher in the spring. Consumers also frequently exhibit seasonal patterns in their consumption; for example, the demand for fluid milk peaks in the fall when classes resume. The political environment also significantly affects price volatility.
Key Topics Covered in the Report
- Snapshot of the Global Protein Supplement Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Protein Supplement Market
- Historic Growth of the Overall Global Protein Supplement Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Protein Supplement Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Protein Supplement Market
- Future Market Forecast and Growth Rates of the Total Global Protein Supplement Market and by Segments
- Market Size of Application Segments with Historical CAGR and Future Forecasts
- Analysis of Global Protein Supplements in Major Regions
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Major Players Mentioned in the Report
- Glanbia PLC
- NOW® Foods
- QuestNutrition
- CytoSport, Inc.
- Lovate Health Sciences International Inc.
- The Bountiful Company
- AMCO Proteins
- Transparent Labs
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Notable Emerging Companies Mentioned in the Report
- Woodbolt Distribution Llc
- Dymatize Enterprises Llc
- RSP Nutrition
- BPI Sports
- The Hut.com Limited and MSM Retail Pvt Ltd.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Protein Supplement Companies
- R&D Institutes for Protein Supplement Development
- Protein Supplement Manufacturers
- Protein Supplement Suppliers
- Protein Supplement Raw Material Provider
- Investment Banks Targeting Supplement Market
- Caffeine Producers
- Food Safety Authorities
- F&B Marketing and Advertising Agencies
- Dietary Supplement Manufacturers
- F&B Research Institutes
- Entrepreneurs in Food Industry
- Potential Entrants into Food Industry
- Government Departments for Food Standards
- Government Ministries and Departments for Food Industry
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