Protein Supplement Market Overview:
Global Protein Supplement Market was valued at $2,662 million in 2016, and is projected to reach at $3,946 million by 2023, growing at a CAGR of 5.7% from 2017 to 2023. Proteins are considered as the building blocks of bones, muscles, skin, and blood, in the body. They are one of the key constituents of hormones, enzymes, & vitamins, which control and maintain body processes. Protein supplements are a prominent protein source, which are directly or indirectly obtained from animals or plants products such as dairy, eggs, soybeans, and others. These are very popular among those who manage weight, are health conscious, and exercise regularly. Protein supplements are also recommended post-surgery (especially bariatric surgery) for immediate recovery of the patient. Growth in popularity of these supplements among youngsters and emergence of ready-to-drink protein-based pediatric milk formulations coupled with various health claims associated with it are some of the key factors that drive the market growth.
The global protein supplement market is majorly driven by the rise of health & fitness centers and growth in health-related awareness among people. Moreover, alarming obesity rates indicating increase in demand for weight management, growth in urbanization, and rise in disposable income are some other factors that fuel the market growth. However, availability of cheap substitutes of protein supplements along with negative publicity & false claims affect the reputation of these and are expected to limit the growth of the market. The introduction of protein supplements in the developing nations and expansion as well as strengthening of distribution channels in different regions are anticipated to provide lucrative opportunities for the market.
The report segments the global protein supplement market based on type, form, source, distribution channel, and geography. By type, the market is divided into casein, whey protein, egg protein, soy protein, and others. On the basis of form, it is classified into powder, RTD liquid, and protein bars. On account of source, the market is bifurcated into animal and plant sources. Based on distribution channel, it is categorized into supermarket/hypermarket, online stores, chemist/drugstore, nutrition store, health food store, specialist sports store, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top Investment Pocket, by Type
Soy protein type is the most lucrative segment of the global protein supplement market. It possesses high market potential for investment, owing to ease in digestibility, presence of low quantity fat, and cholesterol maintenance. North America holds the highest share of the overall global protein supplement market while the Asia-Pacific region owns the highest growth rate.
Global protein supplement market, by geography
Asia-Pacific is the fastest growing region in the global market, registering the highest CAGR of around 7.3% during the forecast period. This is due to the rise in demand for protein supplements in several developing regions coupled with increase in urbanization. North America accounted for around half of the share of the global market and is expected to be the 50% contributor during the forecast period. The South Africa protein supplement market was valued at $56 million in 2016, and is expected to reach $87 million by 2023, registering a CAGR of 6.6% during the forecast period.
South Africa protein supplement market, 2016-2023 ($Million)
Key leading players operating in the protein supplement industry are Abbott Laboratories, ABH Pharma Inc., Amway Corporation, Glanbia Group, GlaxoSmithKline (GSK), GNC Holdings, Makers Nutrition, Herbalife International of America, Inc., Suppleform, and Vitaco Health.
The other players in the value chain include Forever Living Inc., Garden of Life, Melaleuca Inc., New Vitality, Nu Skin Enterprises, Inc., Shaklee Corporation, USANA Health Sciences, Vitacost.com, Inc., Isostar, Atlantic Multipower UK Limited, and Dalblads.
- This report provides an extensive analysis of the current trends and emerging estimations & dynamics of the global protein supplement market.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Detailed analysis of the industry based on the type and distribution channel help understand the trending product type and other potential variants.
- Porters Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top players within the market framework.
Protein Supplement Market Key Segments:
- Whey Protein
- Egg Protein
- Soy Protein
- Others (Pea, Wheat, Rice, Canola, Gelatin, Collagen)
- RTD Liquid
- Protein Bars
- Animal Protein
- Plant Protein
By Distribution Channel
- Nutrition Store
- Health Food Store
- Specialist Sports Store
- North America
- Rest of the Europe
- Rest of the Asia-Pacific
- South Africa
- Rest of the LAMEA