Protein Supplements Market (By Source: Animal-based, Plant-based; By Product: Protein Powder, Protein Bars, Ready to Drink; By Application: Sports Nutrition, Functional Food; By Distribution Channel: Supermarkets & Hypermarkets, Online Stores, Direct to Customers (DTC)) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20222030

The global protein supplements market size was valued at USD 20.40 billion in 2020, and is predicted to be worth around USD 41.80 billion by 2030, registering a CAGR of 8.4% during the forecast period 2022 to 2030.

Growth Factors

The growing number of fitness centers on account of rising millennials’ interest in health and wellness is expected to drive the market over the forecast period. The protein supplement manufacturing companies are primarily concentrated in Europe and North America owing to the abundant availability of raw materials. A higher rate of obesity in these regions is leading the consumers to opt for a healthy lifestyle and eating habits, which is expected to increase the demand for protein supplements over the forecast period.

The market is gaining momentum owing to the increasing number of health-conscious consumers and fitness centers around the globe. The increasing popularity of protein supplements among the millennials, coupled with their interest in building health through a balanced diet, is expected to create additional demand for protein supplements over the forecast period. Increasing reliance on supplements to fulfill the daily nutritional requirements owing to changing lifestyles is expected to drive the demand for protein supplements even further.

The rising vegan population across the globe has compelled manufacturers to invest in R&D to innovate in plant-based protein supplements. In March 2020, The Hut.com, which goes with the brand ‘My Protein’, launched a new plant-based protein shake in the U.S. to capitalize on the increasing vegan population in the country. Similarly, in February 2020, InnovoPro launched chickpea protein concentrate for the ready-to-drink formula for vegan athletes.

Report Coverage

By Source Analysis

Animal-based protein supplements led the market in 2021 and accounted for a revenue share of over 65.0%. The segment comprises meat and dairy proteins, including whey, casein, egg, chicken, and beef. Animal-based proteins are traditionally considered complete proteins as they contain all the essential amino acids. 

Plant-based protein supplements are expected to witness significant demand over the forecast period owing to their increasing popularity among different types of consumers such as vegans, vegetarians, and individuals who are allergic to dairy and egg proteins. These products are derived from various plant sources such as wheat, soy, pea, canola, rice, potato, hemp, oat, and almond. 

By Product Analysis

Protein powder dominated the market with a revenue share of over 60.0% in 2021. The powders are manufactured using a variety of sources such as whey, casein, soy, pea, and egg proteins. These powders are packed with essential micronutrients such as vitamins, greens (such as dehydrated vegetables), minerals, grains, fibers, additional fats, and/or thickeners.

Ready-to-drink is expected to be the fastest-growing product with a CAGR of 9.0% over the forecast period.  RTD supplements are protein drinks that have a precise formulation for direct consumption. RTDs offer a high dose of proteins and can thus be consumed pre-workout, post-workout, or on the go. These proteins are easily absorbed by the body and promote muscle recovery as well as aid in lean muscle growth. 

These proteins are easily absorbed by the body and promote muscle recovery as well as aid in lean muscle growth. The others segment includes various niche products such as protein gels, capsules, cakes, cookies, and bites. These products are likely to observe a slower growth rate in comparison with the other major protein supplements owing to the strong competition from protein supplements including protein powders, bars, and RTDs.

By Application Analysis

Sports nutrition emerged as the largest application in 2021 with a revenue share of over 65.0%. Protein supplements find large-scale application in the sports and medical industries owing to their high consumption by sportsmen, athletes, and bodybuilders as dietary supplements.

Ascending demand for sports nutritional supplements to promote lean muscle growth, improve performance, assist in weight reduction, and boost stamina is expected to boost the growth of the sports nutrition segment over the upcoming years.

The increasing number of individuals engaging in sports and other physical activities to fight obesity is likely to support the market growth. However, the rising market penetration of energy drinks and sugar-free carbonated soft drinks is expected to emerge as a challenge for the industry.

By Distribution Channel Analysis

Online stores led the market in 2021 and accounted for a revenue share of over 30.0%. The growing usage of the internet for shopping, reduction in lead time, higher convenience, and more discounts are the key factors driving the sales of protein supplements through online stores.

The supermarkets and hypermarkets channel is projected to register a CAGR of 8.0% over the forecast period. Supermarkets and hypermarkets offer a wide range of products at lower prices. An increasing number of supermarkets and hypermarkets in developing and developed economies owing to increased popularity is expected to benefit product sales.

DTC or direct to the customer is projected to register the fastest CAGR over the forecast period. Major companies including IOVATE, Quest Nutrition, Glanbia, and NBTY are investing in direct-to-consumer channels to extend their reach to other regions. 

By Regional Analysis

North America led the market and accounted for a revenue share of over 50.0% in 2021. High consumer awareness regarding health and wellness, coupled with knowledge regarding the product benefits, is expected to support the industry growth. 

Asia Pacific is expected to register a lucrative CAGR of 9.3% over the forecast period. The product demand in the region is mainly driven by modernization and the ascending need for on-the-go snacking options across emerging economies, such as China and India.

Key Players 

• Glanbia PLC

• MusclePharm

• Abbott

• CytoSport, Inc.

• Iovate Health Sciences International Inc.

• QuestNutrition

• THE BOUNTIFUL COMPANY

• AMCO Proteins

• NOW Foods

• Transparent Labs

• WOODBOLT DISTRIBUTION LLC

• Dymatize Enterprises LLC

• JymSupplementScience.com

• RSP Nutrition

• BPI Sports LLC

• International Dehydrated Foods, Inc.

• BRF

• Rousselot

• GELITA AG

• Hoogwegt

Market Segmentation

• By Source

  • Animal-based

    • Whey

    • Casein

    • Egg

    • Fish

    • Others

  • Plant-based

    • Soy

    • Spirulina

    • Pumpkin Seed

    • Hemp

    • Rice

    • Pea

    • Others

• By Product

  • Protein Powder

  • Protein Bars

  • Ready to Drink

  • Others

• By Application 

  • Sports Nutrition

  • Functional Food

• By Distribution Channel

  • Supermarkets & Hypermarkets

  • Online Stores

  • Direct to Customers (DTC)

  • Others

• Regional

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • India

    • China

    • Japan

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • UAE

The protein supplements market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of protein supplements market for the base year 2021 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global protein supplements market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the protein supplements market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted protein supplements market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the protein supplements capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of protein supplements by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global protein supplements market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major protein supplements market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of protein supplements market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the protein supplements industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

protein supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to protein supplements market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of protein supplements market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new protein supplements market. These factors have benefited the growth of the global market for protein supplements. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for protein supplements. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of protein supplements are as follows:

• History Year: 2019-2020

• Base Year: 2021

• Forecast Year 2022  to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2019-2021) and forecast (2022-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.