(I-BusinessNews.Com, June 19, 2021 ) Protein Supplements Market size was valued at $12Bn by 2020, growing at a CAGR of 8.2% during the forecast period 2021-2026. Protein supplements are popular nutritional supplements. Protein is an important micronutrient that helps build muscle, makes enzymes & hormones and repairs tissue. Taking protein supplements helps in weight loss and tone the muscles. There is a huge demand of protein supplements owing to its benefits like fighting cancer, lowering cholesterol, improving immunity and building muscle, increasing strength and lowering blood pressure thereby driving the market. Some protein powders make up a glass of milk in to a drink having more than 1,200 calories leading to excess weight gain and unhealthy spike in blood sugar is one of the major constraint hampering the protein supplements market.
Protein Supplements Market Segment Analysis - By Source
The Source segment of Protein Supplements Market is segmented in to Animal Based and Plant Based. Animal based segment accounts for the largest market share owing to the presence of maximum amount of amino acids in it. Plant based protein supplements is anticipated to be the fastest growing segment owing to the growing vegan population and also people that are lactose intolerant.
Protein Supplements Market Segment Analysis - By Application
The Application segment of the Protein Supplements Market is segmented in to functional nutrition and Sports nutrition. Sports nutrition accounts for the largest market share owing to the growing demand for sports nutritional supplements for athletes, fitness professionals as protein is a main source in building muscles. Functional food is estimated to be the fastest growing segment and is anticipated to grow at CAGR 9.6% owing to the increasing health consciousness and growing preference for active lifestyle to exercise and be fit along with a balanced nutritional diet.
Protein Supplements Market Segment Analysis - By Geography
Based on Geography Protein Supplements Market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America Accounts for the largest Market share of 44.52% owing to the growing active lifestyle coupled with exercise in this region. Asia-Pacific is estimated to be the fastest growing region owing to the rising consumers focus on health and adopting active lifestyle.
Consumers are focused on preventive healthcare and are adopting active lifestyle. Adopting to active lifestyle result in burning more calories, feels more energized, improves immunity, speed up repair mechanism and more. The Increasing hectic lifestyle is boosting the demand for easily available protein supplements in the market as they are available in different forms alike bars, ready to drink and powders. This wide range of protein supplements coupled with the growing active lifestyle is driving the market.
Protein Supplements Market Challenges
Excess weight gain:
Protein supplement is a nutritional dietary supplement and FDA leaves it up to the manufacturers to validate the safety and label the products, so there is no way to know whether the product contains what the manufactures claims in the labels. At the same time it leads to some digestive distress to people that are lactose intolerant and some of the protein supplements are high in sugars that can lead to excess weight gain. Like some protein powders a have less sugar content in them but some of the protein powders have 23gms per scoop of the protein powder that can lead to excess weight gain and rise in blood sugar levels and resulting in obesity and various diseases this hinder the markets growth.
Protein Supplements Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the protein supplements Market. Protein supplements Market top 10 players are: AMCO Proteins, Glanbia Plc, NOW Foods, NBTY, MusclePharm Corp, Quest Nutrition, Abbott Laboratories, IOVATE, Cyto Sport, and Transparent Labs.
In October 2018, Glanbia plc has acquired SlimFast one of the leading health and wellness and weight management brand that manufactures ready to mix powders and drinks.
Geographically, North America Protein Supplements Market accounted highest revenue share in 2020 owing to the high demand for Protein Supplements in this region.
Consumers shift towards Active lifestyle is likely to drive the “Protein Supplements Market” in the forecast period (2021-2026).
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Protein Supplements market.
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