Protein Supplements - Market Insights, Competitive Landscape, and Market Forecast - 2030

Protein Supplements Market By Source (Animal-Based [Whey, Casein, Fish, Eggs, Others], Plant-Based [Soy, Rice, Pea, Spirulina, Others]), By Product Type (Protein Powders, Protein Bars, Ready-To-Drink, And Others), By Application (Sports Nutrition And Functional Foods), By Distribution Channel (Supermarkets And Hypermarkets, E-Commerce, Direct-To-Consumer, Others), by geography is estimated to register growth at a remarkable CAGR forecast during 2024-2030 owing to the growing consumer awareness of having a protein rich diet, increasing cases of obesity, malnutrition, and others, the growing use of supplements in sports nutrition along with the rising advancements in delivering quality and adulterant-free protein supplements across the globe.

The global protein supplements market is estimated to grow at a CAGR of 9.37% during the forecast period from 2024 to 2030. The protein supplements market is slated to witness positive growth due to the increasing consumer awareness of having a protein-rich diet, the increasing cases of obesity, malnutrition, and others, the growing use of supplements in sports nutrition along with the increasing addition of protein supplements to fortified foods and beverages, etc. Additionally, the growing focus on improving safety and affordability to deliver quality and adulterant-free protein supplements is further expected to result in appreciable revenue growth of the protein supplements market during the forecast period (2024-2030).

Protein Supplements Market Dynamics:

One of the main factors for the growth of the protein supplements market is the increasing consumer awareness of having a balanced and nutritious diet. Among the global trends around the world, the quantity of protein in regular meals has been noticed to be less than the required sufficient amounts. Owing to the decreased amounts of protein in diets, the growth and overall functioning of the body affects majorly in children, as they are in the budding phase of their lives when their growth hormones are at their peak stage.

According to a study done by the World Health Organization (2023), it was observed that 149 million children under 5 years were estimated to be stunted, 45 million were estimated to be too thin as compared to their height, and 35 million were overweight or obese in 2020. Not only children, but according to the same source, 1.9 billion adults were overweight or obese, while 462 million were underweight, in the same year.

The root cause of all these variations in body structure and movement points towards their poor diet, being less nutritious containing less wholesome foods and having minimal or no protein. Proteins being the building blocks of the body, play a significant role in maintaining bone and muscle mass, and also in healthy skin, eyes, nails, hair, etc. Therefore, owing to the huge importance of protein in one's diet, doctors frequently recommend protein supplements in the form of powders, bars, and ready drinks, among others. Protein supplements can be used by everyone, irrespective of age and gender; they can be used by patients who are underweight, overweight, those dealing with obesity, and also by patients with high blood sugar levels. Protein supplements help in delivering a good amount of protein content out of the total diet, along with fewer calories and sugars. Due to this, the awareness among consumers has increased to inculcate a protein-rich diet, thus raising the demand for protein supplements in the global protein supplements market during the given forecast period from 2024-2030.

Along with a large population of people associated with obesity, malnutrition, and not enough protein in their diets, the recent product launches and regulatory approvals for protein supplements with new developments are further expected to drive the demand for protein supplements. For instance, in October 2022, personalized nutrition platform VITL launched a range of targeted vitamin and protein bars, with each one designed to be a supplement to support a person's well-being, and to keep its consumers energized and invigorated. Each low-sugar bar contains 14g of protein packed with vitamins and nutrients like zinc and magnesium and is only 143 calories.

However, the constantly rising costs of milk and other dairy products along with the risks and side effects associated with increased intake of protein supplements such as kidney stones, irregular bowel movements, renal failure, and others may act as restraints for the protein supplements market growth.

The protein supplements market was mildly impacted during the period of the COVID-19 pandemic owing to the imposition of strict lockdowns to avoid the risk of the spread of the disease among the general public. This led to the closure of various stores and supplement outlets which hampered the sales of protein supplements. Though the online portals were functional in some places, some regions observed no delivery, owing to which sales through online websites were also not possible. However, with the masses being vaccinated, resumption of activities in the food and healthcare sector along with the opening of lockdowns, the overall market for protein supplements has returned to normalcy and has been taking great strides which have initiated the process of resumption of regular healthcare services such as regular out-patient visits for treatment and diagnosis in hospitals, clinics, and laboratories, thereby bringing the demand for products on track in the Protein Supplements market.

Protein Supplements Market Segment Analysis:

Protein Supplements market by source (animal-based [whey, casein, fish, eggs, others], plant-based [soy, rice, pea, spirulina, others]), product type (protein powders, protein bars, ready-to-drink, and others), application (sports nutrition and functional foods), distribution channel (supermarkets and hypermarkets, e-commerce, direct-to-consumer, others), and geography (North America, Europe, Asia-Pacific, and Rest of the World)

Based on the product type segment of the protein supplements market, the protein powders category is projected to register a significant growth in revenue in the overall protein supplements market during the forecast period (2024-2030).

This can be ascribed to the various advantages associated with protein powders and the recent developments in this sector leading to their increased demand. The texture, easy packaging, and availability of various flavors in the protein powders category, along with its easy mixing are expected to raise the market demand for the protein powders segment during the forecast period.

Protein powders have a soft texture which leads to their easy packaging and is handy. Moreover, owing to their good mixability and taste, protein powders can be carried anywhere and can be taken in the form of shakes, smoothies, oats, and others, delivering sufficient amounts of protein in less than 200 calories.

Thereby, considering the growing demand for this product type, numerous new products are being launched in the market. For example, in November 2022, Arla Foods Ingredients partnered with British dairy cooperative First Milk to produce a specialist whey protein powder - Nutrilac FO-7875, with a unique ability to increase the protein content of food and drinks to very high levels without sacrificing texture or stability.

Therefore, considering the advantages associated with protein powders and their growing popularity among people and fitness enthusiasts, this product category is expected to generate considerable revenue thereby pushing the overall growth of the global protein supplements market during the forecast period.

North America is expected to dominate the overall Protein Supplements Market:

Among all the regions, North America is expected to lead in revenue generation in the global protein supplements market. This can be ascribed to the growing cases of obesity, the rising awareness of inculcating a nutritious diet in their lifestyle, and others; the increasing advancements such as product launches due to innovations in the protein supplements arena will increase the demand for protein supplements during the given forecast period.

For instance, according to data from the National Health and Nutrition Examination Survey (NHANES) (2023), the prevalence of obesity in 2020 was 41.9% in the US. The source further stated that the rates of severe obesity in the US rose from 4.7% in 2017 to 9.2% in 2020. To manage obesity and start a weight loss regime, protein supplements in the form of protein powders, protein bars, and others are the most common supplements that are recommended by doctors to effectively manage their diet. The most common protein supplements such as whey protein powders generally containing 100-150 calories serve as a good and filling diet in place of calorie-dense snacks.

Moreover, in October 2022, "Malnutrition Awareness Week" was held in the US from October 4th-8th. It is an annual campaign launched by the American Society for Parenteral and Enteral Nutrition (ASPEN) conducted every year in the first week of October intending to improve the health of people through proper nutrition and eradicating malnutrition.

Along with this, the rising developments in the quality of protein supplements are further expected to drive the demand for protein supplements. In May 2022, Drink Rumble launched the Rumble Vegan Protein Shake in Canada, which is 100% natural, ready to drink, and perfectly balanced. It contains 16g of plant-based protein, 2000mg of Omega 3's, 80mg of plant-based DHA, 5g of fiber, and vitamins B12 and D2.

Therefore, the interplay of all the above-mentioned factors is expected to bolster the growth of the protein supplements market in the North America region during the forecast period.

Protein Supplements Market Key Players:

Some of the key market players operating in the protein supplements market include Glanbia plc., MusclePharm, Abbott, Iovate Health Sciences International Inc., QuestNutrition, The Bountiful Company, AMCO Proteins, NOW Foods, Transparent Labs, WOODBOLT DISTRIBUTION LLC, DYMATIZE ENTERPRISES, LLC, Jym-Supplement-Science, RSP Nutrition, BPI SPORTS, International Dehydrated Foods, Inc., Rousselot, GELITA AG, CytoSport, Inc., Hoogwegt, Munk Pack, and others.

Recent Developmental Activities in the Protein Supplements Market:

In December 2022, Merit Functional Foods launched a new standard for transparency and sustainability in the plant protein market with the release of its first USDA Certified Organic protein ingredient, Organic Peazazz C 850. It provides plant-based food and beverage formulators key functional and nutritional benefits, including solubility, viscosity, texture improvement, low sodium, and a minimum of 85% protein.

In September 2022, Arla Foods Ingredients launched a protein bar concept allowing brands to raise the protein content of their protein bars without compromising on size, taste, or texture. The new recipe is based on high-quality whey and milk protein ingredients from Arla's Lacprodan range. It ensures the rich chocolate mass maintains its flavor and softness throughout its shelf-life and offers 30% of protein per bar.

In September 2022, Tata Consumer Products (TCP), entered the health supplements segment with the launch of 'Tata GoFit' plant-protein, a health supplement range for women which is a plant-based easy-to-mix product formulated with the goodness of gut-friendly probiotics. With ingredients like peas and brown rice, it is free from soy, lactose & added sugar.

Key Takeaways from the Protein Supplements Market Report Study

Market size analysis for current Protein Supplements market size (2023), and market forecast for 5 years (2024-2030)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Protein Supplements market.

Top key product developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years

Key companies dominating the global Protein Supplements market.

Various opportunities available for the other competitor in the Protein Supplements market space.

What are the top-performing segments in 2023? How these segments will perform in 2027.

Which are the top-performing regions and countries in the current Protein Supplements market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Protein Supplements market growth in the coming future?

Target Audience who can be benefited from this Protein Supplements Market Report Study

Protein Supplements products providers

Research organizations and consulting companies

Protein Supplements-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in Protein Supplements

Various distribution channels who want to know more about the Protein Supplements market and the latest product innovations in the Protein Supplements market.

Frequently Asked Questions for the Protein Supplements Market:

1. What are Protein Supplements?

Protein supplements are nutrition sources and food products that are utilized to assist high-activity people like bodybuilders and athletes and also people with fewer diets to achieve their desired daily protein intake requirements. Types of protein supplements include protein powders, protein bars, weight gainers, and meal replacements.

2. What is the market for global Protein Supplements?

The global protein supplements market is estimated to grow at a CAGR of 9.37% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Protein Supplements market?

The protein supplements market is slated to witness positive growth due to the increasing consumer awareness of having a protein-rich diet, the increasing cases of obesity, malnutrition, and others, the growing use of supplements in sports nutrition along with the increasing addition of protein supplements to fortified foods and beverages, etc. Additionally, the growing focus on improving safety and affordability to deliver quality and adulterant-free protein supplements is further expected to result in appreciable revenue growth of the protein supplements market during the forecast period (2024-2030).

4. Who are the key players operating in the global Protein Supplements market?

Some of the key market players operating in the Protein Supplements market include Glanbia plc., MusclePharm, Abbott, Iovate Health Sciences International Inc., QuestNutrition, The Bountiful Company, AMCO Proteins, NOW Foods, Transparent Labs, WOODBOLT DISTRIBUTION LLC, DYMATIZE ENTERPRISES, LLC, Jym-Supplement-Science, RSP Nutrition, BPI SPORTS, International Dehydrated Foods, Inc., Rousselot, GELITA AG, CytoSport, Inc., Hoogwegt, Munk Pack, and others.

5. Which region has the highest share in the Protein Supplements market?

North America is expected to dominate the overall Protein Supplements market during the forecast period, 2024 to 2030. This can be ascribed to the growing cases of obesity, the rising awareness of inculcating a nutritious diet in their lifestyle, and others; the increasing advancements such as product launches due to innovations in the protein supplements arena will increase the demand for protein supplements during the given forecast period.