World Protein Dietary supplements Market Dimension, Share & Traits Evaluation Report 2021-2028 – ResearchAndMarkets.com | Enterprise & Finance

DUBLIN – (BUSINESS WIRE) – Dec. October 2021–

The global protein supplements market is projected to reach $ 36.05 billion by 2028, representing an annual growth rate of 8.4%.

The growing number of fitness centers due to increasing consumer interest in health and wellness is expected to drive the market over the forecast period.

Due to the abundant availability of raw materials, the manufacturers are mainly concentrated in the regions of Europe and North America.

In addition, a higher number of obesity cases in these regions leads consumers to choose healthy lifestyles and eating habits, which is expected to increase product demand over the forecast period. Product manufacture requires high capital investments due to the complex manufacturing process.

The European Food Safety Authority (EFSA) and the US Food & Drug Administration (FDA) have issued regulations on product labeling and health claims that are challenging the new players in the world market. The established players are continuously working on increasing their production capacities in order to meet the growing demand.

For example, in October 2020, Glanbia PLC started operations at its new cheese and whey production facility in Michigan, USA, and can process 3.6 million liters of milk per day.

The growing vegan populations around the world have forced manufacturers to invest in research and development to create innovative plant-based products. In March 2020, The Hut.com launched a new plant-based protein shake in the US to capitalize on the country’s growing vegan population. In February 2020 InnovoPro launched chickpea protein concentrate for the Ready-To-Drink (RTD) formula for vegan athletes.

The unprecedented outbreak of the Covid-19 pandemic benefited the market as consumers became more diet and individual health conscious during this era. In addition, the Chinese Center for Disease Control and Prevention (CDC) has issued nutritional guidelines that recommend the intake of about 150-200 grams of protein per day (about 1.5-2.0 g / kg body weight / day) for Patients affected by Covid-19 to boost immunity, which leads to increased product consumption.

Food Supplements Market Report Highlights

  • The powder product segment dominated the market with a sales share of over 63% in 2020
  • The increasing demand for powdered products from professional athletes, bodybuilders and fitness enthusiasts is expected to drive segment growth over the forecast period
  • The animal products segment led the market in 2020. However, the herbal products segment is expected to see the fastest growth rate from 2021 to 2028
  • Sales through online channels are expected to grow at the fastest CAGR of 8.7% over the forecast period
  • This growth is attributed to the world’s fast growing e-commerce sector and increasing consumer preference for online shopping
  • The use of functional foods is appreciated due to the high product demand for functional foods due to the increasing awareness of consumers for a balanced diet
  • The Asia-Pacific region is expected to be the fastest growing regional market from 2021 to 2028 due to rising disposable income and health awareness in countries like China, India, Japan, and South Korea

Protein Supplements Market Variables, Trends, and Scope

  • Increasing demand for nutritional supplements for sports
  • Raising consumer awareness of nutrition, health and wellness
  • Increasing demand for phytonutrients
  • Rapid surge in demand for protein supplements amid the Covid-19 pandemic

Analysis of the market restrictions

  • High production costs due to volatile raw material prices and strict regulations
  • Low acceptance of sources of protein other than soy

Analysis of the market challenges

  • Food allergen regulations
  • Outlook on the mother market
  • Nutraceuticals and functional foods
  • Similar market outlook
  • Protein ingredients
  • Functional proteins
  • Raw material analysis
  • beef
  • egg
  • Milk, whey and casein
  • Other
  • Technology trends
  • Digital trends
  • Glanbia PLC
  • Muscle pharm
  • Abbott
  • CytoSport, Inc.
  • IovateHealth Sciences International, Inc.
  • QuestNutrition
  • The generous company
  • AMCO proteins
  • NOW groceries
  • Transparent laboratories
  • WOODBOLT DISTRIBUTION LLC
  • Dymatize Enterprises LLC
  • BPI Sports, LLC
  • JymSupplementScience.com
  • RSP diet
  • International Dehydrated Foods, Inc.
  • BRF
  • Rousselot
  • GELITA AG
  • Hoogwegt

Laura Wood, Senior Press Manager

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INDUSTRY KEYWORD: FITNESS & NUTRITION HEALTH

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 10/12/2021 8:53 AM / DISC: 10/12/2021 8:53 AM

Copyright Business Wire 2021.

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