According to the report by Expert Market Research (EMR), the global protein supplement market grew significantly in 2023. Aided by the heightened demand for dietary and wellness products and the expansive applications of protein supplements in the fitness and health sector., the market is projected to further grow at a CAGR of 8% between 2024 and 2032.
Protein supplements are products enriched with high protein content, derived primarily from animal or plant sources. They typically come in the form of powders, bars, and ready-to-drink beverages. These supplements are paramount for muscle development, body tissue repair, and overall body nourishment, making them indispensable for athletes, bodybuilders, and fitness enthusiasts. Additionally, with increasing scientific backing, protein supplements have been linked to myriad health benefits, including weight management, immune system fortification, and enhanced metabolic rates.
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A significant factor catalysing the global protein supplement market growth is the surging inclination towards health and fitness. The modern consumer is well-informed and places immense importance on nutritional intake. Coupled with this is the rising trend of gym-going and resistance training, accentuating the demand for protein-rich dietary supplements to aid muscle recovery and growth.
Additionally, the health industry has seen a proliferation of fitness influencers and health experts promoting the virtues of protein supplementation, particularly post-workout, further driving their popularity. This endorsement, backed by scientific studies, lends credibility and boosts consumer confidence in these products.
Diversification in the protein supplement domain has also witnessed a surge. Beyond traditional whey and casein-based products, there’s a burgeoning demand for plant-based protein supplements. With the global trend leaning towards vegetarianism and veganism, sources like soy, pea, and hemp have come to the fore. These plant-derived proteins cater to a wider audience, further propelling protein supplement market demand.
In the pharmaceutical sector, protein supplements are being increasingly recognised for their therapeutic properties. They are now incorporated as essential components in the recovery diets of patient’s post-surgery or those with muscle atrophy. Their role in augmenting the body’s healing mechanism cannot be overstated.
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Similarly, in the cosmetic industry, proteins, particularly collagen, have made a significant mark. Recognised for their skin rejuvenation and anti-ageing properties, protein-infused cosmetics are gaining rapid traction, thereby indirectly influencing the protein supplement market outlook.
Protein Supplement Market Segmentation
The market can be divided based on source, form, application, distribution channel, and region.
Market Breakup by Source
- Animal Based
- Casein
- Whey Protein
- Egg Protein
- Fish Protein Supplements
- Others
- Plant Based
- Soy Protein
- Pea Protein
- Pumpkin Seed Protein
- Others
Market Breakup by Form
- Powder
- Bars
- Ready-to-Drink
- Others
Market Breakup by Application
- Sports Nutrition
- Functional Food
- Others
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Drugstore
- Nutrition Store
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global protein supplement market. Some of the major players explored in the report by Expert Market Research are as follows:
- Glanbia PLC
- Nestlé S.A.
- lovate Health Sciences International Inc.
- The Hut.com Limited
- Ultimate Nutrition Inc.
- Others
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