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2021
U.s. Protein Supplement Market

U.S. Protein Supplement Market by Type (Casein, Whey Protein, Egg Protein, Soy Protein, Other), Form (Powder, RTD Liquid, Protein Bar), Source (Animal, and Plant), Gender (Male, and Female), Age Group (Millennial, Generation X, and Baby Boomer), and Distribution Channel (Hypermarket/Supermarket, E-Commerce, Chemist/Drugstore, Nutrition Store, Health Food Store, Specialist Sports Store, And Others): Opportunity Analysis and Industry Forecast, 2021–2028

A11938
Pages: 165
Jul 2021 | 3174 Views
Author(s) : Onkar Ambegaonkar , Roshan Deshmukh
Tables: 81
Charts: 43
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The U.S. protein supplement market forecast is projected to reach $3,585.07 million by 2028 from $1,922.50 million in 2019, growing at a CAGR of 7.7% from 2021 to 2028. Over the past of couple of years, there has been a rise in number of health-conscious customers around the globe. They look out for ways in adopting a healthy and an active lifestyle, which has fueled the demand for health-oriented food products.

Thus, protein supplement endures the same kind of traction in North America, Europe as well as Asia-Pacific regions. Healthy lifestyle is becoming a normal way of life that majorly has concerns over obesity, food sensitivity, and people affected by diseases continue to rise.

US-Protein-Supplement-Market

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Major factors that are driving the growth of U.S. protein supplement industry are Increase in awareness among people for health & fitness, alarming rise in obesity rates, increase in disposable income, and rise in demand for supplement from the millennial population. Obesity has been a major issue since many years and number of overweight and obese people is greater than number of underweight people owing to availability of junk food and beverages at cheaper rates. Obese people are mostly expected to have high cholesterol and high blood pressure due to which they are more inclined toward these proteins supplements. Moreover, presently, protein supplements are used on a large scale due to rise in healthcare awareness among people and increase in obesity concerns. Due to rising health care awareness, people are ultimately shifting toward healthy diets and increasing their protein intake to get extra nutrients found in these supplements thereby fueling the market growth for protein supplements.

The demand for protein supplements from the young population is increasing mainly in athletes as they provide various benefits such as lowering cholesterol, building of muscles, increasing strength, fighting cancer, improving immunity, and lowering blood pressure. Thus, the market provides a great opportunity for the manufacturers in the future.

U.S. Protein Supplement Market
By Type

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Whey Protein segment dominates the global market and is expected to retain its dominance throughout the forecast period.

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The report segments the U.S. protein supplement market based on type, form, source, gender, age group, and distribution channel. By type, the market is divided into casein, whey protein, egg protein, soy protein, and others. The whey protein segment was the highest contributor to the U.S. protein supplement market in 2019 and is estimated to dominate the market in 2028 growing at a moderate CAGR from 2021 to 2028. The soy protein segment is estimated to grow with highest CAGR of in this segment. On the basis of form, it is classified into powder, RTD liquid, and protein bars. These are generally available as protein powders in the market while RTD protein shakes and protein bars are comparatively new. On account of source, the market is segmented into animal and plant sources. The consumption of plant-based protein products has been witnessing rapid growth, which is driven by various factors such as rise in number of vegan populations, rise in number of lactose intolerant population and consumers being skeptical over the safety of animal protein consumption.

U.S. Protein Supplement Market
By Form

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RTD liquid segment is expected to grow at a highest CAGR of 8.7% during the forecast period.

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On the basis of gender, the market is bifurcated into male and female. Women seek various specific food and nutrition products to support their active and healthy lifestyle and they expect the products to be easily adaptable to their lifestyle. On the basis of age group, the market is classified into millennial, generation X, and baby boomer. Millennial are more concerned about brain health, heart health, weight loss, weight maintenance, fighting fatigue, and maintaining high energy levels. This concern drives the demand for health promoting products such as probiotics, multivitamins tablets, fish oils, as well as protein supplements. Based on distribution channel, it is categorized into supermarkets/hypermarkets, e-commerce, chemist/drugstore, nutrition store, health food store, specialist sports store, and others. E-commerce is increasingly becoming a popular platform, as it has enabled consumers to buy foreign-manufactured protein supplements. Consumers now rely on internet for gaining information and even consider online shopping as the most convenient factor. 

U.S. Protein Supplement Market
By Source

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Animal segment dominates the market in 2019 and is expected to grow with a CAGR of 7.8% during the forecast period

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The key market players are: Abbott Laboratories, ABH Pharma Inc., Amway Corporation, Glanbia Corp., GlazoSmithKline, GNC Holdings, Herbalife International of America Inc., Bob's Red Mill, Nutiva Inc., and MusclePharm Corporation. The major strategies adopted by key players to expand their business include expansion in untapped regions and new product launches.

U.S. Protein Supplement Market
By Gender

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Male segment is expected to grow at a highest CAGR of 7.9% during the forecast period.

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U.S. protein supplement market: covid-19 Impact analysis

During the COVID-19 outbreak, consumers have become more concerned about their overall health and wellness as COVID-19 has impacted mental and physical well-being of almost everyone across the globe.

Moreover, consumers are now more conscious about their immunity and weight gain, which has become an issue during the pandemic as people have become extremely inactive. Such factors have led to various chronic diseases such as diabetes and obesity and people are looking for healthy alternatives to combat the same. The protein supplement industry is expected to benefit from consumers, who want to lead healthier lifestyles and improve their dietary habits during and after COVID-19.

U.S. Protein Supplement Market
By Age Group

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Millennial segment dominates the market in 2019 and is expected to grow with a CAGR of 8.1% during the forecast period

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Consumers with the belief that vegan supplements boost immunity power and could help them fight against coronavirus disease boost the adoption of vegan supplements, which, in turn, propels the market growth of plant based protein supplement. Moreover, there is an increase in the number of social media users owing to rise in internet penetration. Taking this into consideration, most of the key players in the protein supplement market strategize on promoting their products and services on these social media platforms such as Instagram, Facebook, YouTube and others.

U.S. Protein Supplement Market
By Distribution Channel

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E-Commerce segment is expected to grow at a highest CAGR of 8.5% during the forecast period.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the U.S. protein supplement market growth with current trends and future estimations to elucidate the imminent investment pockets.
  • The report provides a quantitative analysis of the U.S. protein supplement market share from 2019 to 2028 to identify the prevailing airport retailing market opportunities.
  • The report provides a quantitative analysis from 2019 to 2028, which is expected to enable the stakeholders to capitalize on prevailing U.S. protein supplement market trends.
  • In-depth analysis and the U.S. protein supplement market size and segmentation assist to determine the prevailing opportunities.
  • Competitive intelligence in U.S. protein supplement market analysis highlights the business practices followed by leading players across U.S.

Key market segment

By Type

  • Casein
  • Whey Protein
  • Egg Protein
  • Soy Protein
  • Other

By Form

  • Powder
  • RTD Liquid
  • Protein Bar

By Source

  • Animal
  • Plant

By Gender

  • Male
  • Female

By Age Group

  • Millennial
  • Generation X
  • Baby Boomer
 

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According to CXO’s of leading companies, the U.S. protein supplement market is expected to witness significant growth during the forecast period owing to various factors such as increase in obesity rates, rise in healthcare awareness among youth and surge in disposable income of consumers. Protein-related products used by athletes are included in the sports nutrition market, but the ones taken by common people for building muscles or losing weight come under the U.S. protein supplement market. These are generally available as protein powders in the market while RTD protein shakes and protein bars are comparatively new.

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FREQUENTLY ASKED QUESTIONS?

A. The U.S. protein supplement market forecast is projected to reach $3,585.07 million by 2028

A. The forecast period for the market is 2021-2028

A. The base year calculated in the U.S. protein supplement market is 2019.

A. The key market players holding the major market share in the market are Abbott Laboratories, ABH Pharma Inc., Amway Corporation, Glanbia Corp., GlazoSmithKline, GNC Holdings, Herbalife International of America Inc., Bob's Red Mill, Nutiva Inc., and MusclePharm Corporation. The major strategies adopted by key players to expand their business include expansion in untapped regions and new product launches.

A. Millenial segment is the fastest growing segment in the market.

A. On the basis of form, powder segment holds the highest market share

A. Company profile is selected on the basis of majority market share

A. The U.S. protein supplement market is valued at $1,922.50 million in 2019.

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