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The global protein supplements market size reached US$ 22.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 36.3 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028.
Protein supplements refer to essential macronutrient dietary supplements, which are derived from various animal and plant-based sources, including wheat, poultry, pea, diary, and soybean. It is a rich source of fiber, carbohydrates, and sodium, which assists in fueling energy, recovering from injury, improving metabolism, and promoting muscle growth. On account of these properties, protein supplements are extensively consumed by sport athletes and bodybuilders to meet specific nutritional goals. At present, they are commercially available in powder, bars, and ready-to-drink (RTD) beverage formats.
The widespread utilization of protein supplements in sports nutrition and the rising demand for weight management solutions represent the key factors primarily driving the market growth. This is further supported by the inflating disposable incomes, rising consumer expenditure on health and wellness, and the growing awareness amongst consumers regarding its various beneficial properties. In line with this, the steadily rising popularity of gym culture, along with the expanding enrollments or participation in various sports and fitness activities, such as aerobics and yoga, due to rising health consciousness and desire to lead an active and healthy lifestyle is acting as another growth-inducing factor. Additionally, the shifting inclination of consumers toward clean-label, plant-based protein supplements on account of the escalating concerns regarding animal welfare and the emerging trend of veganism is also propelling the market growth. Moreover, strategic collaborations amongst key players for launching innovative product variants in different flavors and formats, including powder, ready-to-drink (RTD) and bar formats, along with their easy accessibility across several online and offline distribution channels, are contributing to the market growth. Apart from this, aggressive marketing tactics, such as celebrity and sports personality endorsements by brands, are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global protein supplements market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, form, source, application and distribution channel.
Breakup by Type:
Breakup by Form:
Breakup by Source:
Breakup by Application:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
|Base Year of the Analysis||2022|
|Segment Coverage||Type, Form, Source, Application, Distribution Channel, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global protein supplements market was valued at US$ 22.8 Billion in 2022.
We expect the global protein supplements market to exhibit a CAGR of 7.8% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of protein supplements.
The rising popularity of gym culture as well as sports and fitness activities, such as aerobics and yoga, along with the growing consumer inclination towards plant-based protein supplements, is primarily driving the global protein supplements market.
Based on the type, the global protein supplements market can be segmented into casein, whey protein, egg protein, soy protein, and others. Currently, whey protein holds the majority of the total market share.
Based on the form, the global protein supplements market has been divided into protein powder, protein bars, ready to drink, and others. Among these, protein powder currently exhibits a clear dominance in the market.
Based on the source, the global protein supplements market can be categorized into animal-based and plant-based. Currently, animal-based source accounts for the majority of the global market share.
Based on the application, the global protein supplements market has been segregated into sports nutrition and functional food, where sports nutrition currently holds the largest market share.
Based on the distribution channel, the global protein supplements market can be bifurcated into supermarkets and hypermarkets, online stores, Direct to Customers (DTC), and others. Currently, online stores exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global protein supplements 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.), and Weider Global Nutrition LLC.
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