PUBLISHER: TechSci Research | PRODUCT CODE: 1068575
PUBLISHER: TechSci Research | PRODUCT CODE: 1068575
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Australia protein supplement market value stood at USD145.75 million in the year 2021, which is anticipated to grow with a CAGR of 7.23% during the forecast period, 2023-2027, to achieve the market value of USD218.56 million by 2027. The Australia protein supplement market is anticipated to grow on the back of increasing demand for supplement food. Rising concerns regarding health and increasing inclination among the population towards bodybuilding and muscle development, majorly among the male population, are driving the growth of the Australia protein supplement market in the upcoming five years. Factors like rising urbanization, increasing per capita income, surging sales through e-commerce are some of the major factors supporting the growth of the Australia protein supplement market in the next five years. Increasing health-conscious population demanding fat-free and nutritious products to maintain their weight is further aiding the market growth since protein, the most important nutrient, is supplied through such supplements minus the excessive fat components. Higher disposable income available to the consumer is also majorly aiding the growth of the Australia protein supplement market in the forecast years through 2027. Through research on the product and development of the advanced product through more nutritious and customized products, the market players are also substantiating the growth of the Australia protein supplement market in the forecast period.
The Australia protein supplement market is segmented by product type, raw material, application, distribution channel, regional analysis, and competitive landscape. Based on product type, the market is further fragmented into protein powder, protein bar, ready to drink, and others like cereals, pancakes, cookies, etc. Protein powder is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of increasing demands from muscle-building and bodybuilding consumers. Increasing number of events of bodybuilding and competitions further aid the demand for protein powder, thus driving the growth of the Australia protein supplement market in the next five years. Protein bars are also expected to hold significant shares of the market due to the increasing inclination towards quick breakfast consumers. The population is highly focused on maintaining their fat consumption in check and thus is opting for protein supplements with the necessary nutrients and flavored breakfast bars.
Vitaco Health Australia Pty Limited, Glanbia Performance Nutrition Pty Limited, Hi-Performance Health Pty. Ltd., Freedom Foods Group Limited, Iovate Health Sciences Australia Pty Limited, MusclePharm Australia Pty Limited, Bioflex Nutrition Pty Ltd, Body Science International Pty Ltd, Genetix Nutrition, True Protein Pty. Ltd. and others, are among the major market players in the protein supplement industry that led the market growth of the Australia protein supplement market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of Australia protein supplement market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Australia protein supplement market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Protein Powder
Protein Bar
Ready to Drink
Others
Whey
Casein
Dairy Alternatives
Sports Nutrition
Functional Food
Supermarkets/Hypermarkets
Specialty Stores
Online
Others
Australia Capital Territory & New South Wales
Victoria & Tasmania
Queensland
Northern Territory & Southern Australia
Western Australia
Company Profiles: Detailed analysis of the major companies present in Australia protein supplement market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information