Protein Supplements Market size was estimated at $18.9 Billion in 2020, projected to grow at a CAGR of 8.9% during the forecast period 2021-2026. The increased proclivity of younger generations, particularly millennials, for balanced meals, high-protein diets and healthy consumption is one of the main factors driving the protein supplement industry’s rise. Athletes use protein supplements to help them perform better and recover faster.
Competitive Landscape:
The top 5 players in the Protein Supplements industry are –
1. Nutiva Inc
2. Kerry Group Plc
3. CytoSport, Inc
4. Herbalife Nutrition, Inc
5. MusclePharm Co
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Segmental Analysis:
1. Plant Based Segment is predicted to grow with the fastest CAGR of 9.3% in the forecast period 2021-2026 owing to the rising popularity for these products.
2. Based on Source, Protein Supplements market is segmented into Protein Powder, Protein Bar, Protein Drinks, and others. Powder Protein Segment is accounted for the largest revenue market share in 2020. The powders contain a variety of proteins such as whey, casein, soy, pea, and egg.
3. Among other things, these powders are high in vitamins, greens, minerals, grains, fibers, additional fats, and/or thickeners. They assist the human body in growing and toning muscles, producing enzymes and hormones, losing weight and healing tissues, and enhancing gut flora to promote gut health.
Report Coverage
Report Attributes
Details
By Product:
Protein Powder, Protein Bar, Protein Drinks, and others.
By Distribution Channel:
Supermarkets, Hypermarkets, Ecommerce websites.
By End User
Patients, Government, Hospitals, Pharmacies, clinicians
By Geography
North America, Europe, Asia-Pacific and Rest of World
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Market Drivers and Challenges:
1. Growing Demand for Protein Supplements Owing to COVID-19 Pandemic: The COVID-19 epidemic has put a lot of strain on the nutraceutical and functional food industries. Several frontline workers, including physicians, nurses, other medical experts, hygiene workers or sweepers, and others, are working tirelessly to stop the spread of the new coronavirus.
2. High Cost of Protein Supplements: The high cost of Protein supplements and the negative effects associated with them are likely to limit the Protein supplement market’s growth. Proteins required for good skin, hair, and nails are all provided by Protein supplements.
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