Global Protein Supplements Market Size, Share, Growth Analysis, By Product Type(Protein powder, protein bars), By Application(Sports nutrition and functional food) - Industry Forecast 2024-2031

Global Protein Supplements Market size was valued at USD 6.76 billion in 2022 and is poised to grow from USD 7.31 billion in 2023 to USD 13.74 billion by 2031, growing at a CAGR of 8.2% during the forecast period (2024-2031).

Whey protein, casein protein, soy protein, and pea protein are just a few of the many products that are part of the constantly expanding global market for protein supplements. These supplements help with weight loss, boost general health and wellness, increase muscular growth, and enhance sports performance. The market is being pushed by rising disposable incomes, greater knowledge of the health and fitness benefits of protein consumption, and expanding demand for fitness and health products. The market for protein supplements exists to give customers an easy and efficient way to get the protein they need each day. Many people find it difficult to get adequate protein from their diets alone since they lead hectic lives and have little time to prepare meals. This issue may be quickly and simply resolved with the help of protein supplements, which make it simple for people to increase their protein consumption in order to support their fitness and health objectives. The rising acceptance of fitness and wellness trends is one of the main factors propelling the market for protein supplements. The need for supplements that help people achieve their goals of leading healthy lives is rising as more people show an interest in doing so. Furthermore, the popularity of vegetarian and vegan diets has raised demand for plant-based protein supplements like soy and pea protein. But there are difficulties in the market. The high price of certain protein supplements is one of the main barriers on the market, which can prevent some customers from using them.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Protein Supplements Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Protein Supplements Market Segmental Analysis

Global Protein Supplements Market is segmented on the basis of product, application, and region. By product, the market is segmented into protein powder, protein bars, ready-to-drink and others. By application, the market is segmented into sports nutrition and functional food. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Protein Supplements Market

Growing consumer awareness of fitness and health is one of the main factors propelling the market for protein supplements. In order to achieve their fitness objectives, consumers are adding protein supplements to their meals as they become more conscious of the health advantages of these supplements, which include weight management and muscle growth.

Restraints in the Global Protein Supplements Market

One important factor impeding the growth of the protein supplement market is their high cost. Price-conscious customers may be discouraged from buying protein supplements since they are frequently more expensive than conventional food sources of the macronutrient. The production process, which uses pricey raw materials and cutting-edge technology, contributes to the high cost as well.

Market Trends of the Global Protein Supplements Market

In the market for protein supplements, plant-based supplements are starting to show significant momentum. Consumers are searching for protein supplements made from plant-based sources including rice, soy, and peas due to the surge in veganism and vegetarianism. These supplements are sustainable for the environment and provide a number of health benefits.