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Protein Supplements Market size to exceed $17.1bn by 2030

  • Published Date: August 3, 2022

Protein Supplements Market size is set to surpass USD 17.1 billion by 2030, according to a new research report by Global Market Insights Inc.

The protein supplements are an essential dietary nutritional supplement required to maintain a healthy lifestyle and immune system from several diseases. Plant based protein supplements yields have increased in the recent years as there are more advancements and R&D by major market players. Thus, numerous health benefits offered by these supplements have increased the product adoption by vegan population across the globe. Several plant-based protein powders are available in the market such as pea protein, soy protein, coconut protein, among others.

Rising awareness among consumers regarding health and wellness will boost the protein supplements market expansion

Increasing prevalence of chronic disorders associated with several health issues have augmented the demand for protein supplements in the recent years. Malnourishment is one of the major causes of several diseases including vitamin deficiency and anemia among others and have increased the product adoption in developing countries. As the COVID-19 pandemic arose at an unprecedent rate the importance of health and wellness increased among people as it was one of the deciding factors for the resistance and recovery from this disease. People increased their focus towards healthy lifestyle that included sufficient intake of protein to maintain good immunity.

Several advantages offered by bar protein supplements will fuel the preference for these devices

Bars segment was valued at more than USD 1.3 billion in 2021. This is owing to multiple advantages offered by bar protein supplements comprising greater versatility as they are an on-the-go snack for health-conscious customers. These bars are a portable food option that help to maintain the muscle mass complete the daily calorie consumption. Protein bars boost the metabolism that helps to increase the fat loss along with maintaining muscle strength. For athletes these bars act as an energy source for pre and post workout meal for strength and muscle recovery.

Browse key industry insights spread across 190 pages with 291 market data tables & 17 figures & charts from the report, “Protein Supplements Market Size By Form (Powder, Bars, Liquid {ready-to-drink} ), Source (Plant-based {Soy, Hemp, Pea, Rice}, Animal-based {Whey, Casein, Egg, Meat & Fish}), Distribution Channel (Supermarkets & Hypermarkets, Online Stores), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:

Increasing adoption of plant base protein supplements will spur the protein supplements market forecasts

The plant-based segment is anticipated to expand at 8.4% CAGR from 2022 to 2030. This is attributable to the clinical advantages offered by plant-based protein supplements providing optimal results and essential micronutrients will increase the product demand in the near future. Furthermore, some of the key factors facilitating segmental revenue are changing preferences of people towards vegan food & supplements as well as increasing accessibility to advanced protein supplements that promote the overall industry growth. Plant based protein supplements provide better nutritional contents along with essential amino acids that boost the metabolism thereby enhancing the disease resistance immunity.

Growing use of e-commerce platform across the globe will foster the protein supplements market landscape

Online stores segment is projected to cross USD 6.9 billion by 2030. This is due to the soaring use of protein supplements among people for individual fitness goals that is estimated to surge the product adoption. High growth rate is attributed to growing consumer preference for e-commerce websites due to availability of wide array of protein supplements and hefty discounts. Additionally, various market players are focusing on marketing products via e-commerce websites that increases saleability of a wide variety of protein supplements, thus leading to segment growth.

Increasing demand for protein supplements will augment the protein supplements market outlook

Germany market is expected to surpass USD 680 million by 2030. This is owing to the high prevalence of chronic diseases due to protein deficiency coupled with increasing awareness for health and wellness in the country will spur the business revenue. This notable prevalence of ailments is set to propel the adoption of the protein supplements. Moreover, some of the prime variables propelling the market in Germany are growing accessibility to variety of protein supplements, promoting the quality of life and health benefits with the consumption of these products.

Players are emphasizing on strategic initiatives and innovative product launches to expand business operations

Some of the major market players operating in the protein supplements market are Simply Good Foods Company, Glanbia PLC, General Nutrition Centers, Inc., The Bountiful Company, Herbalife Nutrition Ltd., Abbott Laboratories and Garden of Life, among others. These players are engaged in strategic collaborations, partnerships, and agreements to gain competitive advantage over their competitors.

For instance, in May 2022, General Nutrition Centers, Inc announced the launch of Beyond Raw Concept X protein supplements for sports athletes. This supplement is a pre workout supplement with superior ingredients for muscle strength acceleration, energy, focus, pumps, and endurance. This strategic launch helped the company to enhance their product portfolio and increase their customer base.

Authors: Sumant Ugalmugle, Rupali Swain