As per the reports published by FMI, the global protein supplements market is projected to have an average-paced CAGR of 8.5% during the forecast period. The current valuation of the market is USD 27,780 million in 2023. The market value of the protein supplements market is anticipated to surpass a market valuation of USD 62,990 million by the year 2033.
FMI has analyzed that consumers across the globe are largely inclined towards food that is nutrient-dense. A surge in demand for on-the-go food consumption is identified to bolster the sales of protein supplements across 2033. Health awareness programs are raising awareness amongst the urban populace to consume nutritional diets for leading a healthy lifestyle.
Furthermore, young athletes are also highly consuming protein supplements for the benefits of building muscles, increasing strength, immunity improvement, and low blood pressure levels. The working population across the globe is highly reliant on protein supplements owing to the changing lifestyle and busy schedules. However, it is anticipated that the higher costs involved with the manufacturing processes of protein supplements are likely to impede the growth of the market through 2033.
Key Takeaways from the Protein Supplements Market
The protein supplements market has witnessed an approximate surge of USD 2.18 Billion from the year 2022 to 2023.
The protein powder segment by form category is anticipated to hold dominant shares through 2033. In the base year, this segment accounted for a revenue share of 56%.
The ready-to-drink segment is progressing at a notable rate, registering a CAGR of 8.5% during the period of 2023-2033.
North America has emerged as the leading region with the U.S. holding dominant market shares. The country is expected to surpass a valuation of USD 2.47 Billion by 2033.
Competitive Landscape in the Protein Supplements Market
Due to the existence of numerous international and regional companies, the market for protein supplements is very competitive. To strengthen their position in the market, major players are implementing a variety of methods, including product portfolio growth and regional development. The key players are adopting various business strategies, such as mergers and acquisitions, to expand their geographic presence and consumer base across the world. Therefore, the market is projected to register significant growth through the forecast period.
Recent Developments
- Naturell India Pvt. Ltd., the parent business of Max Protein, proudly announced the introduction of two new products – Max Protein Whey Protein and Max Protein Plant Protein – in September 2023, in a landmark development expected to transform the landscape of fitness and nutrition in India.
- In June 2023, Synthite launched Just Plants, a plant-based dairy alternative, and Plotein, a plant-based protein drink powder.
- In March 2023, Premier Protein launched its new Plant Protein Powder.
Key Players in the Global Protein Supplements Market
- NOW Foods
- Transparent Labs
- WOODBOLT DISTRIBUTION LLC
- Dymatize Enterprises LLC
- GymSupplementScience.com
- RSP Nutrition
- CytoSport Inc.
- Iovate Health Sciences International Inc.
- Quest Nutrition
- THE BOUNTIFUL COMPANY
- AMCO Proteins
- Glanbia PLC
- MusclePharm
- Abbott
- BPI Sports LLC
- International Dehydrated Foods Inc.
- BRF
- Rousselot
- GELITA AG
- Hoogwegt
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Protein Supplements Market Segmentation
By Source:
- Plant-Based
- Soy
- Spirulina
- Pumpkin Seed
- Hemp
- Rice
- Pea
- Others
- Animal-Based
- Whey
- Casein
- Egg
- Fish
- Others
By Application:
- Sports
- Functional Food
By Distribution Channel:
- Supermarkets & hypermarkets
- Online Stores
- Direct to Consumers
- Others
By Form:
- Ready to Drink
- Protein Powder
- Protein Bar
- Others
By Gender:
- Male
- Female
By Age Group:
- Millennials
- Generation Z
- Baby Boomers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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