Protein Supplements Market Size, Trends & Forecast 2031

Protein Supplements Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis By Product Type (Tablets and Capsules, Powder, Liquid, and Others), Source (Plants and Animals), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)

Publication Month : Feb 2024

  • Report Code : TIPRE00003882
  • Category : Food and Beverages
  • Status : Upcoming
  • No. of Pages : 150
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[Research Report] The protein supplements market size was valued at US$ 53.47 billion in 2022 and is expected to reach US$ 90.03 billion by 2030; it is estimated to register a CAGR of 6.7% from 2022 to 2030.

Market Insights and Analyst View:

Protein supplements are dietary products designed to increase an individual’s protein intake, typically to support muscle growth, recovery, and overall health. They come in various forms, including powders, tablets and capsules, bars, and drinks, each with its unique advantages. One of the most common forms is protein powder, which is usually derived from sources like whey, casein, soy, pea, or rice. These powders are typically mixed with water or other beverages and consumed post-workout to aid muscle recovery or as a convenient way to increase daily protein intake. Protein bars are another popular option, offering a portable and convenient source of protein for on-the-go individuals. They often contain a mix of proteins, such as whey or plant-based options, along with various flavors and added ingredients.

Protein supplements play a crucial role in the fitness and bodybuilding community by supplying the necessary amino acids required for muscle growth and repair. Athletes and fitness enthusiasts often use protein supplements to meet their increased protein needs, especially after intense exercise sessions, as these supplements provide a quick and efficient way to replenish muscle protein. Moreover, protein supplements are valuable for individuals with specific dietary preferences or restrictions, such as vegans or vegetarians who may have limited access to animal-based protein sources. Plant-based protein supplements, like pea or soy protein, cater to these dietary needs, ensuring individuals still get an adequate protein intake while adhering to their dietary choices.

In addition to their muscle-building benefits, protein supplements can also assist with weight management and overall nutrition. Protein has a satiating effect, helping to control appetite and reduce calorie intake, which can be valuable for those looking to lose or maintain weight. These supplements can be incorporated into various recipes and meals, making it easier to increase overall protein consumption. For individuals with busy lifestyles, they offer a quick and easy way to ensure they meet their protein requirements without having to cook elaborate meals. Overall, protein supplements serve as a convenient and versatile tool to support various health and fitness goals, from muscle building to weight management and improved overall nutrition.

Growth Drivers and Challenges:

The market growth of protein supplements is substantially driven by the rising consumer awareness regarding health and nutrition. Firstly, as people become more health-conscious, there is a growing recognition of the crucial role that protein plays in overall well-being. Protein is essential for muscle maintenance and growth, weight management, and even satiety, which can aid in controlling calorie intake. This understanding has led individuals, ranging from fitness enthusiasts to the general population, to incorporate protein supplements into their diets to meet their nutritional needs more effectively.

Secondly, the increased availability of information, especially through digital channels and social media, has empowered consumers to make informed decisions about their nutrition. They are now more aware of the importance of balanced diets and protein intake, leading to a greater demand for protein supplements. Social media influencers, fitness bloggers, and online communities often advocate for the benefits of these products, further propelling their popularity.

Furthermore, the desire for healthier lifestyles and an aging population seeking to maintain muscle mass and bone density have contributed to the demand for protein supplements. As consumers aim to address age-related health concerns and maintain an active lifestyle, they turn to protein as a convenient and effective way to ensure they meet their protein supplementation as a convenient and effective way to ensure they meet their protein requirements. This increased awareness is transforming the protein supplements market, making it a pivotal component of the broader health and wellness industry.

However, the protein supplements market faces several significant restraints. One primary challenge is the potential for adverse side effects or health concerns associated with overconsumption or misuse of these products, leading to increased scrutiny from regulatory authorities. Additionally, the market can be sensitive to economic downturns, as consumers may reduce discretionary spending on supplements during times of financial uncertainty. Competition among various protein sources, including plant-based options, can also limit the growth of certain segments within the market. Moreover, the market faces challenges related to product quality and authenticity, with concerns about adulterated or mislabeled supplements impacting consumer trust. Finally, the increasing preference for obtaining nutrients from natural food sources presents a constraint, as some consumers may opt for whole foods over supplements, limiting the market’s potential growth.

Furthermore, the protein supplements market may be influenced by shifting dietary trends and consumer preferences. As more people seek plant-based and sustainable dietary options, there is a growing demand for alternatives to traditional animal-derived protein supplements, potentially impacting sales of whey and casein protein products. Additionally, the perception that whole foods are a healthier and more holistic way to meet nutritional needs can deter some consumers from turning to supplements. Supply chain disruptions, such as fluctuations in the cost and availability of raw materials, can also create challenges for manufacturers, potentially leading to price increases that deter price-sensitive consumers. These restraints collectively underscore the dynamic and evolving nature of the protein supplements market and the need for industry players to adapt to changing consumer preferences and regulatory landscapes.

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Protein Supplements Market: Strategic Insights

protein-supplement-market
Market Size Value inUS$ 53.47 billion in 2022
Market Size Value byUS$ 90.03 billion by 2030
Growth rateCAGR of 6.7% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Report Segmentation and Scope:

The global protein supplements market is segmented based on product type, source, distribution channel, and geography. Based on product type, the market is categorized into tablets and capsules, powders, liquids, and others. Based on the source, the market is bifurcated into plants and animals. By distribution channel, the market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others. The global protein supplements market is broadly segmented by geography into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

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Segmental Analysis:

Based on product type, the market is categorized into tablets and capsules, powder, liquid, and others. The powder segment is expected to register the highest CAGR during 2022–2030. The demand for protein powders has surged in recent years due to a combination of factors. Firstly, there is a growing awareness of the importance of protein in one’s diet, not just among athletes and bodybuilders, but also among health-conscious individuals seeking to maintain a balanced and satisfying diet. Protein is widely recognized for its role in muscle recovery, weight management, and overall satiety. Additionally, the convenience factor plays a significant role in the popularity of protein powders, as they provide a quick and portable source of protein for busy lifestyles. Furthermore, manufacturers have responded to this demand by offering a wide variety of flavors and formulations, making protein powders a tasty and customizable choice for consumers. Lastly, the marketing of protein powders as a nutritious and guilt-free option has further fueled their popularity, as people look for healthier alternatives to traditional protein sources. These factors combined have contributed to the surging demand for protein powders in the market.

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Regional Analysis: 

The protein supplements market is segmented into five key regions: North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. North America dominated the global protein supplements market. Europe is a second major contributor, holding a significant global market share. Asia Pacific is expected to register a considerable CAGR during 2022–2030. North America has dominated the protein supplements market by region for several reasons. Firstly, there is a pervasive fitness and wellness culture in the US and Canada, with a substantial portion of the population actively engaged in fitness activities, bodybuilding, and sports, leading to a higher demand for protein supplements to support muscle recovery and growth. Additionally, the region’s well-developed sports nutrition industry and widespread availability of health and fitness products have made protein supplements easily accessible to consumers. Moreover, effective marketing strategies, including endorsements by athletes and fitness influencers, have further popularized these products. The stringent regulations governing dietary supplements in North America also contribute to a higher level of trust and confidence in the safety and efficacy of protein supplements, driving their market dominance in the region.  

COVID-19 Pandemic Impact: 

The COVID-19 pandemic initially hindered the global protein supplements market due to the shutdown of manufacturing units, shortage of labor, disruption of supply chains, and financial instability. The disruption of various industries due to the economic slowdown caused by the COVID-19 outbreak restrained the protein supplements supply. Various stores were closed. However, businesses started gaining ground as previously imposed limitations were eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries eased the situation, leading to a rise in business activities worldwide. Several markets, including the protein supplements market, reported growth after the ease of lockdowns and movement restrictions.

Competitive Landscape and Key Companies:

Glanbia Plc, MusclePharm, Abbott, CytoSport Inc., QuestNutrition LLC, Iovate Health Sciences International Inc., The Bountiful Company, AMCO Proteins, Now Foods, and Transparent Labs are among the prominent players operating in the global protein supplements market.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, Source, and Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Abbott Laboratories
2. AMCO Proteins
3. CytoSport, Inc.
4. Glanbia plc
5. Iovate Health Sciences International Inc.
6. MusclePharm Corporation
7. Nature's Bounty Co.
8. NOW Foods
9. Quest Nutrition, LLC
10. Transparent Labs

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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