Protein Supplements Market Size, Regional Analysis, Application Development, COVID19 Impact Analysis, Competitive Landscape & Forecast, 2021 – 2027

Report ID: GMI2151

Summary Methodology

Protein Supplements Market size is expected to witness strong growth over 2021-2027, owing to the increasing adoption of healthier, active lifestyles. Growing participation in fitness and sports activities has resulted in more people pursuing optimal nutrition levels, bolstering the demand for health and muscle building products.

Protein supplements are essentially processed, refined protein products available in various forms, from powders to bars to drinks. These products are used extensively as dietary supplements by athletes, soldiers as well as recreationally active individuals, with the aim of increasing muscle mass, enhancing recovery, and boosting overall performance.

One of the key trends driving protein supplement industry growth is the higher propensity of younger generations, particularly millennials, towards balanced diets and healthy consumption. Millennials are considerably more conscious and aware regarding health and fitness, which has led to a significant surge in dietary supplement consumption among the them. According to estimates from CRN (Council for Responsible Nutrition) in the US, nearly 39% of millennials consumed protein-based products for the purpose of muscle bulking in 2019.  The need to fulfil nutritional requirements and boost athletic performance, alongside evolving lifestyles will add impetus to protein supplement market growth.

Whey protein is gaining prominence as a preferred form of protein supplement. Whey protein is used commonly among bodybuilders and athletes, given its ability to aid muscle building and overall body growth. Whey protein powders are also considered the highest-quality and healthiest sources of protein, and are also known for their easy digestibility and absorption.

From a regional perspective, the APAC region is set to emerge as a lucrative revenue ground for the protein supplement industry up to 2027. This is credited mainly to the high percentage of younger people and increasing disposable income levels in the region. China and India especially are expected to contribute significantly to protein supplements industry share over the coming years. According to a 2019 report commissioned by FIAL (Food Innovation Australia Limited), India and China are projected to witness exponential demand for protein, accounting for over 50% of the total global consumption by 2025.

Key brands in global protein supplements market share include Abbott Laboratories, Amway Corporation (Alticor), Glanbia Group, ABH Pharma, GNC Holdings (Harbin Pharmaceutical Group), GlaxoSmithKline (merged with HUL), Herbalife International of America, Makers Nutrition, Vitaco Health, Suppleform. Product developments, strategic partnerships and global expansions are among the major initiatives being taken by protein supplement industry players, in order to sustain a stronghold in a competitive business landscape.

For instance, in 2019, Australian company Vitaco’s sports nutrition brand Musashi expanded into the Indian Protein Supplement Market forecast, via an exclusive partnership with Indian firm Smart Brands. In keeping with a growing demand from local authorities for imported whey protein supplements, the deal was aimed at bringing the firm’s hormone-free whey protein supplement products from its New Zealand manufacturing facility.

Meanwhile, GNC signed a retail distribution agreement in April 2021 with plant-based nutritional supplement firm PlantFuel, to bring its range of products to over 2,300 GNC stores as well as its website. This included products such Performance Protein, with 20g of protein and vegan-fermented BCAAs including PeakO2 performance mushrooms and InstAminos, in addition to several other plant-based performance solutions.

COVID-19 crisis and its impact on protein supplement market revenue

The COVID-19 outbreak, which emerged as a pandemic in early 2020, has become one of the most significant health threats to people. Given the impact of the disease on the immune system of the body, medical professionals are urging the consumption of dietary supplements to boost immune system. The pandemic has created favorable growth conditions for the protein supplement market in particular, given the integral role of protein in enhancing immune function.

Growing awareness regarding the benefits of protein in improving nutrition and health has led to a substantial increase in demand for protein supplements. For example, a Nutrition Business Journal report revealed that over 36% consumers increased their intake of protein powders during the early days of the pandemic. This rise in interest towards supplementary products for better nutrition and immunity-boosting will strengthen market outlook over the next few years.

What Information does this report contain?

Historical data coverage: 2016 to 2020; Growth Projections: 2021 to 2027.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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