Protein Supplements Market Size Is Expected To Reach USD 42.81 Billion By 2030

Protein Supplements Industry Overview

The global protein supplements market size is expected to reach USD 42.81 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% from 2021 to 2030. The growing number of fitness centers on account of rising millennials’ interest in health and wellness is expected to drive the market over the forecast period. The protein supplement manufacturing companies are primarily concentrated in Europe and North America owing to the abundant availability of raw materials. A higher rate of obesity in these regions is leading the consumers to opt for a healthy lifestyle and eating habits, which is expected to increase the demand for protein supplements over the forecast period.

Protein supplement manufacturing requires high capital investments owing to the complex manufacturing process. The European Food Safety Authority (EFSA) and the U.S. Food & Drug Administration (USDA) have laid regulations on product labeling and health claims, which challenges the new players in the global market. The established players are continuously working on increasing their production capacity to match the growing demand. For Instance, in October 2020, Glanbia PLC began the operation of its new facility producing cheese and whey in Michigan, U.S. and is capable of processing 3.6 million liters of milk per day.

The rising vegan population across the globe has compelled manufacturers to invest in R&D to innovate in plant-based protein supplements. In March 2020, The Hut.com, which goes with the brand ‘My Protein’, launched a new plant-based protein shake in the U.S. to capitalize on the increasing vegan population in the country. Similarly, in February 2020, InnovoPro launched chickpea protein concentrate for the ready-to-drink formula for vegan athletes.

Protein Supplements Market Segmentation

Grand View Research has segmented the global protein supplements market on the basis of source, product, application, distribution channel, and region:

Based on the Source Insights, the market is segmented into Animal-based, and Plant-based.

• Animal-based protein supplements led the market in 2021 and accounted for a revenue share of over 65.0%. The segment comprises meat and dairy proteins, including whey, casein, egg, chicken, and beef. Animal-based proteins are traditionally considered complete proteins as they contain all the essential amino acids. Whey and casein were the most consumed animal-based proteins in 2021.
• Plant-based protein supplements are expected to witness significant demand over the forecast period owing to their increasing popularity among different types of consumers such as vegans, vegetarians, and individuals who are allergic to dairy and egg proteins. These products are derived from various plant sources such as wheat, soy, pea, canola, rice, potato, hemp, oat, and almond. Soy and wheat emerged as the dominant plant protein segments in 2021. Soy is popular amongst consumers as it has the presence of all nine essential amino acids.
• All grades of whey proteins including concentrates, isolates, and hydrolysates have a great digestibility as well as amino acid profile. However, hydrolyzed whey proteins cost more as compared to other whey proteins, thus several whey supplement manufacturers add them in small proportions to their respective formulas.

• Based on the Product Insights, the market is segmented into Protein Powder, Protein Bars, Ready to Drink, and Others.
• Protein powder dominated the market with a revenue share of over 60.0% in 2021. The powders are manufactured using a variety of sources such as whey, casein, soy, pea, and egg proteins. These powders are packed with essential micronutrients such as vitamins, greens (such as dehydrated vegetables), minerals, grains, fibers, additional fats, and/or thickeners.
• Ready-to-drink is expected to be the fastest-growing product with a CAGR of 9.0% over the forecast period. RTD supplements are protein drinks that have a precise formulation for direct consumption. RTDs offer a high dose of proteins and can thus be consumed pre-workout, post-workout, or on the go.

Based on the Application Insights, the market is segmented into Sports Nutrition, and Functional Food.

• Sports nutritionemerged as the largest application in 2021 with a revenue share of over 65.0%. Protein supplements find large-scale application in the sports and medical industries owing to their high consumption by sportsmen, athletes, and bodybuilders as dietary supplements. The availability of sports nutrition products in supermarkets and convenience stores is expected to spur their demand given the exposure to a wider customer base including lifestyle and recreational users.
• Ascending demand for sports nutritional supplements to promote lean muscle growth, improve performance, assist in weight reduction, and boost stamina is expected to boost the growth of the sports nutrition segment over the upcoming years.  The increasing number of individuals engaging in sports and other physical activities to fight obesity is likely to support the market growth.

Based on the Distribution Channel Insights, the market is segmented into Supermarkets & Hypermarkets, Online Stores, Direct to Customers (DTC), and Others.

• Online stores led the market in 2021 and accounted for a revenue share of over 30.0%. The growing usage of the internet for shopping, reduction in lead time, higher convenience, and more discounts are the key factors driving the sales of protein supplements through online stores. The supermarkets and hypermarkets channel is projected to register a CAGR of 8.0% over the forecast period.
• DTC or direct to the customer is projected to register the fastest CAGR over the forecast period. Major companies including IOVATE, Quest Nutrition, Glanbia, and NBTY are investing in direct-to-consumer channels to extend their reach to other regions. Companies are developing user-friendly and specialized websites to market their products without the need for any third-party distribution channel.

Protein Supplements Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The industry is highly fragmented and is expected to expand at a significant CAGR in the coming years owing to the rising demand for supplements among sports enthusiasts. The manufacturers in the market are constantly experimenting with new sources ranging from marine collagen to sacha inchi. Furthermore, manufacturers are incorporating egg white proteins in nutrition bars to provide enhanced snacking options. Glanbia developed BevEdge technology in 2017 that allows manufacturers to remove lecithin from the products. This technology can be applied in the case of a variety of animal and plant-based products such as whey, milk, casein, and pea. Some prominent players in the global protein supplements market include:

• Glanbia PLC
• MusclePharm
• Abbott
• CytoSport, Inc.
• Iovate Health Sciences International Inc.
• QuestNutrition
• THE BOUNTIFUL COMPANY
• AMCO Proteins
• NOW Foods
• Transparent Labs
• WOODBOLT DISTRIBUTION LLC
• Dymatize Enterprises LLC
• com
• RSP Nutrition
• BPI Sports LLC
• International Dehydrated Foods, Inc.
• BRF
• Rousselot
• GELITA AG
• Hoogwegt

Order a free sample PDF of the Protein Supplements Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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