2 May 2019 - Global Protein Supplements Market is expected to grow at a significant CAGR of 8.12% in the upcoming period as the scope and its applications are rising enormously across the globe. Protein supplements, mainly protein powder a nutritional supplement that helps build muscles, make hormones and enzymes, and repair tissue.
The factors that are playing a major role in the growth of the market are the increasing demand from women sector as growing popularity towards resistance training and the acceptance of high protein diet for weight loss. However, side effects and varying raw material cost may restrain overall market growth in the years to come. The market is segmented based on raw material, source, product type, distribution channel, application, and region.
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Pea, whey, soy, casein, and other raw materials that could be explored in protein supplements market in the forecast period. Based on the source, the plant-based and animal-based source could classify protein supplements in the forecast period. Animal-based protein source accounted for the significant market share and is estimated to lead the overall market in the years to come. The reason could be the presence of high nutrients like zinc, vitamin B12, Heme-iron, vitamin D, and DHA, easy availability, and the high rate of absorption.
Ready to drink (RTD), protein powders, protein bars, and other product types could be explored in protein supplements in the forecast period. Protein powder sector accounted for the substantial market share of protein supplements and is estimated to lead the overall market in the years to come. Also, ready to drink (RTD) sector is estimated to grow at the fastest pace in the years to come.
Direct to consumer (DTC), supermarket, online stores, and other distribution channels could be explored in protein supplements industry in the forecast period. Online stores sector accounted for the substantial share of the market and is estimated to lead the overall market in the years to come. The reason could be the growing number of internet users, convenience, and the availability of several options. Also, direct to consumer (DTC) sector is estimated to grow at the fastest pace in the years to come.
The market may be categorized based on applications like functional foods, sports nutrition, and others could be explored in the forecast period. Sports nutrition sector accounted for the significant market share of protein supplements and is estimated to continue its dominance in the years to come.
Globally, North America accounted for the substantial market share of protein supplements and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region, the developing sports nutrition industry, and the high demand for fitness supplements from athletes and customers. The United States and Canada are the major consumers of protein supplements in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. The reason could be the high demand for protein supplements and the increasing trend of healthy living. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The key players of the protein supplements market are IOVATE, Glanbia Plc, Quest Nutrition, GNC, NOW Foods, AMCO, and NBTY. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
Market Segment:
The various contributors involved in the value chain of Protein Supplements include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in the Protein Supplements include
• Glanbia
• GNC
• NOW Foods
• NBTY
• IOVATE
• Quest Nutrition
Market Size Split by Type
• Protein Powder
• Protein Bar
• Ready to Drink
Market Size Split by Application
• Sports Nutrition
• Functional Foods
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