PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408912
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408912
Protein Supplements Market size was valued at USD 6,286 Million in 2023, expanding at a CAGR of 8.5% from 2024 to 2032.
Protein supplements are a sort of nutritional and bodybuilding supplement that bodybuilders and athletes typically take to complement their diet and enhance protein consumption while limiting carbohydrate and fat consumption. When compared to other protein sources, these supplements provide more protein when ingested directly.
The COVID-19 epidemic prompted many people to reconsider their lifestyle choices and make adjustments that were healthful, sustainable, and beneficial to their overall health. Given the increasing development and consumption of material related to fitness, nutrition, and a healthy lifestyle, social media became a significant driver of this transition. Protein supplements such as protein powders, smoothies, shakes, and bars have grown in popularity due to their nutritional content and efficacy in growing muscle mass, maintaining muscle gain, assisting with muscle repair, and losing weight. The emergence of diverse options by many manufacturers with varying packaging, tastes, and ingredients increased the demand for protein supplements. The marketing efforts of industry participants, particularly through social media engagement with fitness influencers, contributed to market expansion.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. The growing interest among young and adult customers in health and wellness trends is propelling expansion in the protein supplement sector. Consumers are getting increasingly concerned about their health and are eager to invest in solutions that will help them maintain or improve their overall well-being. As a result, the protein supplement business is likely to expand in North America in the coming years. The growing incidence of lifestyle disorders like diabetes and obesity is driving demand for solutions that can help control them. Protein supplements are frequently suggested as part of a balanced diet for those who have certain diseases. Thereby, driving the market growth in the region.
The key players operating in the market are: Abbott, MusclePharm, Glanbia Plc, CytoSport Inc., QuestNutrition LLC, Iovate Health Sciences International Inc., The Bountiful Company, AMCO Proteins, Now Foods, WOODBOLT DISTRIBUTION LLC, Transparent Labs, Dymatize Enterprises LLC, Jym-Supplement-Science, BPI Sports and RSP Nutrition among others. These players perform various strategies to capture a major market share. Strategies like merger & acquisition, agreement, collaboration, product launches and others.
In October 2022, Glanbia's sports nutrition brand, Optimum Nutrition, released a new plant-based protein powder dubbed Gold Standard 100% Plant Protein. The formula is created entirely of vegan ingredients and offers 24 grams of protein to help you stay active. The introduction responds to the market's rising demand for plant-based alternatives.
The scope of this report covers the market by its major segments, which include as follows: