Protein supplements market to Surge at 8.27% CAGR, which is anticipated to reach USD 41.84 billion by 2030.
CRI Report has released a report titled “Protein supplements market – Analysis of Market Size, Share & Trends for 2020 – 2030 and Forecasts to 2030” which is anticipated to reach USD 41.84 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 8.27% between 2020 and 2030. According to the report, due to the rising adoption of healthier, more active lifestyles, the market size is anticipated to rise significantly during the forecast period. More individuals are pursuing appropriate nutrition levels as a result of increased engagement in fitness and sports activities, fueling demand for health and muscle-building products.
The market report on Protein supplements market includes in-depth insights as:
- The estimated value of the market was USD 18.91 billion in the year 2020.
- Region-wise, the market in North America which held the largest market share in the year 2019, emerged as a key market for Protein supplements market.
- Based on Type, Whey category emerged as a key segment in the Protein supplements market.
- Based on Gender, Male segment emerged as a key segment in the Protein supplements market.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“The increased proclivity of younger generations, particularly millennials, for balanced meals and healthy consumption is one of the main factors driving the protein supplement industry’s rise. Millennials are much more health-conscious and aware, which has resulted in a huge increase in dietary supplement usage among them.”, according to this report
Protein is an important nutrient and the body’s second most abundant component after water. Protein supplements are concentrated protein sources derived from animals or plants, such as dairy, eggs, wheat, soybean, pea, and others. Powders, bars, and ready-to-drink (RTD) beverages are the three most common forms they take. Protein powder is a popular protein supplement that comes in a variety of forms, including protein concentrates, isolates, and hydrolysates. These items are used by people who want to gain muscle, maintain their body mass, or reduce weight. People also use protein supplements to get the energy and vitamins they need during intense workouts, as well as to make up for the minerals and vitamins they lose when they eat less.
Protein supplements market is segmented by Type into casein, whey, egg, soy, and others. Among these, the whey category is expected to hold the highest CAGR in the forecast period. Whey protein has long been popular among athletes and bodybuilders since it aids in general body growth and muscle growth. The surge in demand for sports nutrition products, as well as the value-added tag of clean label components, are the two primary drivers driving the market’s overall growth.
Key Players in the Market
Some of the key players operating in the Protein supplements market are Glanbia plc, MusclePharm, Abbott, CytoSport Inc., Iovate Health Sciences International Inc, QuestNutrition, The Bountiful Company, NOW Foods, Transparent Labs, Woodbolt Distribution LLC, Dymatize Enterprises LLC.
Get Valuable Insights into Protein supplements market
In the new report, CRI Report thrives to present an unbiased analysis of the Protein supplements market that covers the historical demand data as well as the forecast figures for the period, i.e., 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by Type into Casein, Whey Protein, Egg Protein, Soy Protein Others. By into Form, Powder, RTD Liquid, Protein Bars. By Source into Animal, Plant. By Distribution Channel into Supermarkets, Online Stores, Direct to Customers (DTC), Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.