Protein Supplements Market Size to Worth USD 49.68 Bn by 2032
The global protein supplements market size surpassed USD 23.45 billion in 2023 and is estimated to be worth around USD 49.68 billion by 2032, growing at a CAGR of 8.7% between 2023 and 2032.
Ottawa, Dec. 27, 2023 (GLOBE NEWSWIRE) -- The global *protein supplements market* size is anticipated to reach around USD 38.36 billion by 2029, increasing from USD 21.67 billion in 2022, According to Precedence Research.The protein supplements market is driven by rising awareness, a growing older population, the growing trend towards muscle building and fitness goals, growing demand for plant-based protein supplements and many others.
The U.S. *protein* supplements market size is expected to hit around USD 20,394.8 million by 2032 from USD 9,694 million in 2022, growing at a CAGR of 8.6% from 2023 to 2032.
*Market Overview*
Protein supplements are dietary products that contain concentrated sources of protein, which is a macronutrient essential for the proper functioning and maintenance of the body. Proteins are made up of *amino acids*, which are the building blocks of tissues, muscles, enzymes, hormones, and other important molecules in the body. Protein supplements come in various forms, including powders, bars, shakes, capsules and liquids. They are commonly used by individuals who have increased protein requirements, such as athletes, bodybuilders, or those engaging in intense physical activities.
*Key Insights:*
· The *sports nutrition* segment holds the largest share 68% in 2022.
· The animal-based protein supplements have led the market in 2022 with a revenue share of 67%.
· the online store segment had the largest market share 32% in 2022.
· The supermarkets and hypermarkets segment is expected to witness a CAGR of 8.7% from 2023 to 2032.
· North America held the largest revenue share of over 52% in 2022.*You can place an order or ask any questions, please feel free to contact at **sales@precedenceresearch.com** | +1 650 460 3308*
*Growth Factors of Protein Supplements Market*
The protein supplements market is increasing as there is a growing population of health-conscious people. Protein supplements are gaining popularity amongst millennials. In order to build health through a balanced diet is expected to create a demand for protein supplements over the forecast. Young athletes need protein supplements as they provide many benefits like building muscles, increasing strength, lowering cholesterol, fighting cancer, improving immunity, and lowering blood pressure. These factors are leading to growth in the market.
*Protein Supplements Market Scope*
*Report Coverage* *Details*
CAGR 8.7% from 2023 to 2032
Global Market Size in 2023 USD 23.45 Billion
Global Market Size by 2032 USD 49.68 Billion
U.S. Market Size in 2023 USD 9.69 Billion
U.S. Market Size by 2032 USD 20.39 Billion
Base Year 2022
Forecast Period 2023 to 2032
Largest Market North America
Second Largest Market Europe
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Product, By Source, By Application, By Distribution Channel, By Form, By Gender, By Age Group, and By Regions
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
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*Regional Stance*
North America is expected to hold the largest market share over the forecast period. The growth of the market in the region is attributed to the growing health awareness among the population. Moreover, the growing geriatric population in the region also propels the market expansion. For instance, the U.S. Census Bureau issued its Vintage 2022 Population Estimates on June 20, 2023, and they show that from 2021 and 2022, the country's median age climbed by 0.2 years to 38.9 years. Furthermore, the growing e-commerce industry in the region also propelled the market expansion over the analysis period.
Besides, Europe is expected to capture a significant revenue share during the projected period. The market growth in the region is ascribed to the growing presence of major players. These players adopted various tactics to gain competitiveness such as innovative product launches, partnerships and others. For instance, in August 2023, after concluding its seed investment round with success, Vivici B.V. continues to work toward fulfilling the global need for high-quality, sustainable proteins. With dsm-firmenich Venturing and Fonterra as initial investors, Vivici has solid and reliable foundations to successfully launch precision-fermented dairy products without using animal products. Therefore, this kind of innovation in the industry drives the protein supplements market over the projected period.
*Report Highlights:*
*Global Protein Supplements Market Revenue by Product (USD Million)*
* * *2022* *2023* *2024* *2025*
*Protein Powder* 13,830.4 14,957.7 16,191.8 17,544.0
*Protein Bars* 2,933.3 3,162.0 3,411.6 3,684.2
*Ready to Drink* 4,347.8 4,726.3 5,142.3 5,599.9
The protein powders segment is expected to dominate the market during the forecast period. Protein powders are available in various formulations, each using different protein sources. Common protein sources include whey (concentrate, isolate, and hydrolysate), casein, soy, pea, rice, hemp, and a blend of multiple protein sources. This diversity caters to consumers with different dietary preferences and needs. The growing product launch is expected to drive the market growth. For instance, in May 2023, two 100% whey protein powders with cereal flavors were recently introduced by Six Star Pro Nutrition, a brand of Iovate Health Sciences International Inc. in collaboration with Kellogg Co. Through their cooperative relationship with Kellogg's, they will be able to keep advocating for tasty, reasonably priced, and easily accessible nourishment for athletes of all ages, including pros, high school students, and their families.
*Global Protein Supplements Market Revenue by Application (USD Million)*
* * *2022* *2023* *2024* *2025*
Sports Nutrition 14,251.50 15,465.80 16,799.10 18,264.20
Functional Food 7,420.60 7,983.40 8,596.40 9,264.50
The sports segment is expected to capture a majority of the market share over the forecast period. Protein supplements are widely used in the sports industry to aid in muscle recovery and promote muscle growth. The essential amino acids in protein are crucial for repairing and rebuilding muscle tissue after intense physical activity. Moreover, the convenience of protein supplements, such as ready-to-drink shakes, protein bars, and single-serve powder packets, appeals to athletes who need on-the-go solutions for their nutritional needs.
*Global Protein Supplements Market **Revenue** by Distribution Channel (USD Million)** * *2022* *2023* *2024* *2025*
Supermarkets & Hypermarkets 2,661.7 2,868.2 3,093.6 3,339.7
eCommerce 17,652.2 19,115.9 20,720.0 22,479.4
Others 1,358.2 1,465.2 1,582.0 1,709.6
The online stores segment is expected to grow at a rapid rate over the forecast period. Online stores provide detailed product information, including nutritional content, ingredients, and usage instructions. Additionally, customer reviews and ratings offer valuable insights for potential buyers, helping them make informed purchasing decisions. Therefore, the ease of shopping offered by the online stores to consumers positively impacted the segment expansion.
*Source Insights*
The plant-based segment is expected to grow at the fastest rate over the forecast period. The growth in the segment is attributed to the advantages of plant-based protein supplements. Plant based proteins are often more easily digestible than some animal-based proteins. They can be gentler on the digestive system, making them a suitable option for individuals with sensitive stomachs or digestive issues. Moreover, these protein sources typically contain lower levels of saturated fat and cholesterol compared to certain animal-based protein sources. Thereby, driving the market growth over the forecast period.
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*Market Dynamics:*
*Driver*
*Growing awareness regarding health*
The COVID-19 epidemic caused many people to reassess their lifestyle decisions and make long-lasting, healthy changes that enhanced their overall well-being. Social media has contributed to the shift in the development and consumption of fitness, nutrition, and healthy living products. Protein supplements—protein powders, shakes, smoothies, and bars—have become quite popular due to their high nutritional value and ability to support muscle growth, maintenance, and recovery as well as weight loss. The rise in distinct tastes, ingredients, and packaging offered by several firms has led to a notable growth in customer demand for protein supplements. Industry players' marketing strategies, notably their collaboration with fitness influencers on social media, helped to expand the market.
*Restraint*
*Price sensitivity and regulatory challenge*
Good quality protein supplements might be more costly than protein from complete foods. Customer's sensitivity to price may prevent these products from being widely adopted, particularly by those with limited budgets. Furthermore, the regulatory environment around dietary supplements may be complicated, and businesses in the protein supplement industry may find it difficult to comply with various requirements in different countries. It is essential to ensure product safety and proper labeling. Thus, this is expected to act as a major restraint for the market expansion during the forecast period.
*Opportunity*
*Growing product launches*
The growing product launches in the protein supplements industry are expected to offer a potential opportunity for market revenue expansion over the anticipated timeframe. For instance, in November 2023, the fastest-growing sports nutrition company, REDCON1, and the well-known outdoor brand, Mossy Oak, launched a new collaboration. Through this partnership, two businesses that are passionate about the outdoors and fitness will be able to offer clients cutting-edge experiences and goods. The collaboration will start with the introduction of REDCON1's best-selling performance, recovery, and endurance products, which will have recognizable Mossy Oak designs on the labels. The product line will consist of protein powders, energy drinks, and pre-and post-workout supplements that are specifically designed to cater to the specific requirements of outdoor sports lovers, hunters, and fishers.
*Browse More Insights:*
· *Protein Ingredients Market: *The global *protein ingredients market size* was estimated at US$ 75 billion in 2022 and it is expected to hit US$ 127.50 billion by 2032 poised to grow at a CAGR of 5.50% from 2023 to 2032.· *Cell-free Protein Expression Market: *The global *cell-free protein expression market size* accounted for USD 232 million in 2022 and it is expected to hit around USD 507.85 million by 2032, growing at a CAGR of 8.2% from 2023 to 2032.
· *Protein Purification and Isolation Market: *The global *protein purification and isolation market size* accounted for USD 8.36 billion in 2022 and it is projected to be worth around USD 22.38 billion by 2032, growing at a CAGR of 10.4% from 2023 to 2032.
· *Protein Expression Market:* The global *protein expression market size* accounted for USD 3.84 billion in 2022 and is expected to attain around USD 10.38 billion by 2032, poised to grow at a CAGR of 10.45% from 2023 to 2032.
· *Protein Sequencing Market: *The global *protein sequencing market size* was reached at USD 1.89 billion in 2022 and is projected to surpass around USD 2.78 billion by 2032, poised to grow at a CAGR of 3.94% from 2023 to 2032.
· *Protein Crystallization Market: *The global *protein crystallization market size* was estimated at USD 1.58 billion in 2022 and is projected to hit around USD 3.67 billion by 2032, growing at a CAGR of 8.79% from 2023 to 2032.*Recent Developments:*
· In July 2023, together with precision fermentation pioneer Perfect Day, Inc., Unico Nutrition announced the reimagining of their renowned Apollo protein powder. The brand-new product blends animal protein from grass-fed animals with sustainable whey generated from fermentation for a gentler, greener recipe that improves performance. This comes after intense cooperation centered on innovation and progressive problem-solving. The world's first hybrid product, developed by Unico Nutrition, blends conventional dairy with Perfect Day's cutting-edge, animal-free whey protein.
· In July 2022, Whey Forward, a new animal-free whey protein powder, was introduced by Myprotein and Perfect Day in collaboration. Perfect Day employs precise fermentation to produce an equivalent whey protein from microflora rather than animal sources, which is why Whey Forward is manufactured with their animal-free whey protein. Three flavors—rich salted caramel, rich mint chocolate chip, and rich chocolate brownie—will be offered for the plant-based protein.
*Market Key Players:*
· RSP Nutrition
· Abbott
· WOODBOLT DISTRIBUTION LLC
· Dymatize Enterprises LLC
· JymSupplementScience.com
· NOW Foods
· CytoSport, Inc.
· Iovate Health Sciences International Inc.
· QuestNutrition
· THE BOUNTIFUL COMPANY
· AMCO Proteins
· Glanbia PLC
· MusclePharm
· Transparent Labs
· BPI Sports LLC
· International Dehydrated Foods, Inc.
· BRF
· Rousselot
· GELITA AG
· Hoogwegt
*Market Segmentation*
*By Product*
· Protein Bars
· Protein powders
· Ready to Drink
· Others
*By Source*
· Plant Based
· Soy
· Spirulina
· Pumpkin Seed
· Hemp
· Rice
· Pea
· Others
· Animal Based
· Whey
· Casein
· Egg
· Fish
· Others
*By Application*
· Sports
· Functional Food
*By Distribution Channel*
· Supermarkets & Hypermarkets
· Online Stores
· Direct to Customers
· Others
*By Form*
· Ready to Drink
· Protein Powder
· Protein Bar
· Others
*By Gender*
· Male
· Female
*By Age Group*
· Millennials
· Geneartion X
· Baby Boomers*By Geography*
· North America
· Europe
· Asia-Pacific
· Latin America
· Middle East & Africa (MEA)*Immediate Delivery Available | Buy This Premium Research Report@ **https://www.precedenceresearch.com/checkout/2356*
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