Protein Supplements Market

Market Overview:

The global protein supplements market size reached US$ 24.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 45.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032. The increasing consumption of dietary supplements in daily routines, rising awareness about age related muscle loss, and the growing influence of social media influencers and celebrities are some of the major factors propelling the market.

Protein Supplements Market Analysis:

• Major Market Drivers: Main factors such as increasing awareness about health and wellness trends and rising consciousness among individuals towards their diets to enhance muscle growth, improve overall health, and help in weight management. The growing fitness culture such as fitness apps, personal training services, and gym memberships is boosting the demand for protein supplements, thereby driving the market growth.
• Key Market Trends: The increasing popularity of the vegetarian diet, along with the rising veganism is influencing the market trends across the globe. The increasing demand for ready-to-drink protein shakes and snack bars and the growing need for dietary supplements among the rising aging population to maintain muscle mass and strength.
• Geographical Trends: The North American market constitutes the main protein supplements market share due to the strong focus on health and wellness with several consumers using protein supplements to support muscle building, general health, and weight loss efforts. The region has a robust fitness industry and the rising shift towards plant-based and specialized types like keto and paleo which is driving the growth of the market in the region.
• Competitive Landscape: Some of the major market players in the protein supplements industry include Abbott Laboratories, Amway, Dymatize Enterprises LLC (BellRing Brands), Glanbia PLC, GNC Holdings Inc. (Harbin Pharmaceutical Group), Herbalife International of America Inc., Iovate Health Sciences Inc., Makers Nutrition LLC, Melaleuca Inc., Nestlé S.A, Quest Nutrition LLC (Atkins Nutritionals Holdings Inc.), and Weider Global Nutrition LLC, among many others.
• Challenges and Opportunities: The market faces challenges such as regulatory scrutiny, competition from emerging alternatives such as whole food proteins, and concerns over ingredient transparency and product quality. However, the market faced significant opportunities such as expanding plant-based and organic product lines to meet the rising demand for vegan and environmentally friendly options. Partnerships with fitness and wellness and innovations in flavor and format are creating a positive outlook for the market.
   

Protein Supplements Market Trends:

Increasing awareness about health and fitness

As health consciousness is rising, individuals are seeking ways to achieve their fitness goals. Protein supplements provide a convenient source of essential amino acids crucial for muscle repair and growth. People are increasingly aware of the role protein plays in maintaining a healthy body composition and aiding weight management. According to an article by McKinsey&Company, indeed 40% of the general population surveyed now consider wellness a top priority in daily life the growing number of fitness choices, the exact counts are difficult to find, but fitness tech apps raised a record-breaking dollar 2 billion from investors in 2020. Similarly, in a survey of roughly 7500 consumers in six countries, 79% of respondents said they believe that Wellness is important and 42% consider it a top priority. This is further fueling the protein supplements market statistics.

Rising vegan and vegetarian lifestyles

The vegan and vegetarian population often faces challenges in obtaining adequate protein from plant-based diets alone. Protein supplements derived from sources like pea, soy, or rice offer a feasible solution, which caters to the dietary preferences of this growing demographic. According to an article by Deals on Health, vegan saves around 30 animal lives every month. By 2026, the vegan market will be worth $24.3 billion. Veganism could save almost 8 million human lives by 2050. Following a vegan lifestyle cuts 100% of bad cholesterol from a person's diet. According to the National Library of Medicine, a study found that 34% more patients on the plant-based diet had a reduction of atherosclerosis than those on the diet recommended by the American Heart Association. This is expected to bolster the protein supplements market forecast over the coming years.

Growing changes in lifestyles and dietary patterns

Modern lifestyles often lead to inadequate protein intake from regular diets. Protein supplements provide a quick and efficient solution for those with busy schedules or dietary restrictions. The shift towards plant-based diets has also boosted the demand for alternative protein sources, such as plant-based protein supplements. For instance, in August 2023, Herbalife Nutrition, a health and wellness company unveiled Herbalife V, a portfolio of plant-based products. The Herbalife V line features certified organic kosher and non-GMO verified products including two protein shake offerings and a variety of dietary supplements designed to improve gut and immune health. This is further driving the protein supplements market revenue across the globe.

Protein Supplements Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global protein supplements market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on type, form, source, application and distribution channel.

Breakup by Type:

• Casein
• Whey Protein
• Egg Protein
• Soy Protein
• Others
   

Whey protein dominates the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes casein, whey protein, egg protein, soy protein, and others. According to the report, whey protein represented the largest segment. Whey protein is a fast-digesting protein derived from milk which is driving its demand, thus boosting the protein supplements market growth. It is rich in essential amino acids and quickly absorbed by the body, which makes it a popular choice for post-workout recovery. It is available in three main forms, including whey concentrate, whey isolate, and whey hydrolysate.

Breakup by Form:

• Protein Powder
• Protein Bars
• Ready to Drink
• Others
   

Protein powder holds the largest share in the market

A detailed breakup and analysis of the market based on the form has also been provided in the report. This includes protein powder, protein bars, ready to drink, and others. According to the report, protein powder accounted for the largest market share. Protein Powder is a popular and versatile form of protein supplement which is further fueling the protein supplements market demand. It is available in various types, such as whey, casein, soy, and plant-based proteins. It is typically mixed with water, milk, or other liquids to create a protein-rich shake. It can be used as post-workout recovery shakes, meal replacements, or added to recipes like smoothies and baked goods.

Breakup by Source:

• Animal-Based
• Plant-Based
   

Animal-based dominates the market

The report has provided a detailed breakup and analysis of the market based on the source. This includes animal-based and plant-based. According to the report, animal-based represented the largest segment. Animal-based protein supplements are derived from animal sources, such as dairy (whey, casein), eggs, beef, chicken, and fish. They are usually complete proteins and contain all essential amino acids in adequate proportions. They are particularly popular among those looking to build muscle and recover after intense workouts due to their rich amino acid profiles which is creating a positive protein supplements market outlook.

Breakup by Application:

• Sports Nutrition
• Functional Food
   

Sports nutrition dominates the market

The report has provided a detailed breakup and analysis of the market based on the application. This includes sports nutrition and functional food. According to the report, sports nutrition represented the largest segment. Protein supplements are widely used in sports nutrition to support athletic performance, muscle growth, and recovery. Athletes and active individuals often have increased protein needs to repair and build muscles after intense workouts. Protein supplements, such as protein shakes and bars, are convenient ways to meet these increased protein requirements. They can be consumed before or after exercise to enhance muscle recovery, reduce muscle breakdown, and promote muscle protein synthesis.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Online Stores
• Direct to Customers (DTC)
• Others
   

Online stores holds the largest share in the market

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the protein supplements market report. This includes supermarkets and hypermarkets, online stores, direct to customers (DTC), and others. According to the report, online stores accounted for the largest market share. Protein supplements are widely available through online retailers and e-commerce platforms. Online stores offer a convenient way for consumers to explore a wide variety of brands and products from the comfort of their homes. Customers can compare prices, read reviews, and make purchases with ease. The online distribution channel also opens up access to a broader selection of products that may not be available in local stores.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America exhibits a clear dominance, accounting for the largest protein supplements market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The increasing awareness about the health benefits of consuming protein supplements represents one of the primary factors fueling the market growth in the North America region. Moreover, the rising health consciousness among the masses is bolstering the market growth in the region. Besides this, the growing purchase of protein supplement-based beverages and bakery products through online retail channels is influencing the market positively in the region.

Competitive Landscape:

The leading protein supplements market companies are using advanced biotechnology to create novel protein sources with improved nutritional profiles. This includes genetic modification of microorganisms or plants to produce proteins with enhanced amino acid compositions, allergen reduction, and increased digestibility. Moreover, product manufacturers are utilizing genetic testing, biomarker analysis, and artificial intelligence (AI)-driven algorithms to recommend specific protein blends and dosages tailored to the genetic makeup, fitness goals, and dietary preferences of an individual. They are also adopting the 3D printing technology to create customized protein bars and supplements. Consumers can select ingredients, flavors, and nutritional content to create products tailored to their specific needs. This allows for greater flexibility and personalization. Besides this, key players are adopting nanoencapsulation techniques to improve the solubility, stability, and absorption of protein supplements. Nano-sized particles can protect protein molecules from degradation, which ensures that they reach the bloodstream intact for optimal utilization.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Abbott Laboratories
• Amway
• Dymatize Enterprises LLC (BellRing Brands)
• Glanbia PLC
• GNC Holdings Inc. (Harbin Pharmaceutical Group)
• Herbalife International of America Inc.
• Iovate Health Sciences Inc.
• Makers Nutrition LLC
• Melaleuca Inc.
• Nestlé S.A
• Quest Nutrition LLC (Atkins Nutritionals Holdings Inc.)
• Weider Global Nutrition LLC
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Recent Developments:

• In 2022, Dymatize Enterprises LLC (BellRing Brands) launched its new plant-based protein supplement named Complete Plant Protein, which is developed with vegan ingredients like soy protein that contains 25g of protein in every pack.
• In 2022, PlantFuel Life Inc., the scientifically focused plant-based wellness company announced its equity partnership with GNC Ventures, an innovation and technology arm affiliated with GNC, a global health and wellness brand. GNC Ventures is designed to uncover and strategically partner with companies leading category innovation through unique attributes, multi-touch points, and a consumer-centric mindset.
• In 2024, Glanbia plc, the Better Nutrition company, announced that it agreed with the shareholders of Aroma Holding Company, LLC and related entities, and the owners of Flavor Producers LLC to acquire the business for an initial consideration of $300 million plus deferred consideration.

Protein Supplements Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the protein supplements market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global protein supplements market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the protein supplements industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.