The market for protein powder is expected to grow at a CAGR of around 7.5% from 2020 to 2027 and expected to reach the market value of around US$ 19.6 Bn by 2027.
Protein powder is a nutritional supplement of protein in the powdered form that derived from plants including soybeans, peas, rice, potatoes, or hemp, or animals. The final product may include added sugars, artificial flavoring agents, thickeners, vitamins, and minerals. Protein powder helps in building muscle, repair tissue, and make enzymes and hormones. These can also help in weight loss and in toning body muscles. Some of the other benefits associated with the protein powder include recovery after exercise, energy-boosting, adding nutrition, and muscle growth or builds lean mass.
The rising awareness about the benefits of protein including muscle repair, energy boost, and weight loss is the primary factor boosting the demand in the market. The rising living standard of the middle-class population along with the increasing disposable income is supporting the market growth. The increasing usage of protein in the functional food sector other than the sports sector, growing concerns regarding obesity, rising spending on health-related products, and rising penetration of organized retail and e-retailing are some of the factors driving the market growth. Furthermore, the expected significant rise in gym subscriptions and preference for vegan protein sources due to rising veganism are factors projected to create potential opportunities over the forecast period from 2020 to 2027.
On the other hand, the high price associated with the protein supplement is likely to limit the growth to an extent over the forecast period.
Segment Instance of Global Protein Powder Market
Animal-based protein powder held the major revenue share in the global Protein Powder market
Based on the source, the animal-based protein powder segment is having a potential share in the global market. The animal sources of protein include milk, egg, fish, poultry, and red meat among others. Moreover, milk and egg protein powder are the most consumed forms additionally, the animal proteins provide all 9 of the essential amino acids which are somewhere missing in plant-based protein. Furthermore, the plant-based protein powder segment is anticipated to exhibit the fastest growth during the forecast period.
North America accounted for the maximum revenue share in the Protein Powder Market of 2019
The protein powder market value of North America is leading among other regions. The presence of a high-income population base in the US and more focus among residents towards body shape and fitness is supporting the regional market value. The increasing demand for sports nutritional supplements, as well as the presence of major players in the region, is supporting the regional market value. Additionally, the region is also projected to maintain its dominance throughout the forecast timeframe.
Asia Pacific is anticipated to experience fastest growth over the estimated period
Asia Pacific region along with its major economies projected to exhibit the fastest growth with a major CAGR (%) during the estimated period. The increasing disposable income supporting the increased purchasing power of people is driving the market growth. The increasing number of players in the region due to the increasing demand for protein supplements among the health freaks is expected to support growth over the forecast period from 2020 to 2027. The increasing focus on preventive healthcare among consumers, changing consumption patterns, and westernization of diet are some of the other factors likely to drive the growth over the estimated period.
The major players profiled in the report include Abbott Laboratories, Amway, Garden of Life, Glanbia Group, GlaxoSmithKline, GNC Holdings, Herbalife International of America, Inc, Living Inc., Makers Nutrition, Melaleuca Inc, Shaklee Corporation, Suppleform, USANA Health Sciences, and Vitacost.com
Market By Type
Market By Flavor
Double Rich Chocolate
Extreme Chocolate Milk
Cookies and Cream
Market By Source
Market By Application
Market By Distribution Channel
Health Food Store
Specialist Food Store
Market By Geography
Middle East & Africa
The market for protein powder is expected to reach a market value of around US$ 19.6 Bn by 2027.
The protein powder market is expected to grow at a CAGR of around 7.5% from 2020 to 2027.
Animal-based is the leading segment by source in the protein powder market
The rising awareness about the benefits of protein including muscle repair, energy boost, and weight loss, rising living standard of the middle class population along with the increasing disposable income, rising usage in functional food sector other than sports sector, growing concerns regarding obesity, rising spending on health-related products, and rising penetration of organized retail and e-retailing are some of the factor driving the market growth.
Abbott Laboratories, Amway, Garden of Life, Glanbia Group, GlaxoSmithKline, GNC Holdings, Herbalife International of America, Inc, Living Inc., Makers Nutrition, Melaleuca Inc, Shaklee Corporation, Suppleform, USANA Health Sciences, and Vitacost.com are the prominent players in the market.
North America held the highest market share in the protein powder market
Asia Pacific is expected to be the fastest growing market over the forecast period