Protein Supplements Market Report

Protein Supplements Market Analysis By Raw Material (Whey, Casein, Pea), By Source, By Product (Protein Powder, Protein Bar, RTD), By Distribution Channel, By Application, And Segment Forecasts, 2014 - 2025

Published: October 2017  |  111 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-694-3

Industry Insights

The global protein supplements market size was valued at USD 12.4 billion in 2016 and is expected to rise at a CAGR of 6.3% from 2017 to 2025. The market is expected to show significant growth over the forecast period owing to the increasing consumer awareness toward maintaining a healthy diet and leading an active lifestyle.

In addition, increasing innovation in the manufacturing of proteins containing a broad range of amino acids, targeting specified functions including energy balance, weight loss, muscle repair, and satiety is expected to promote the industry expansion.

U.S. protein supplements market revenue, by product, 2014 - 2025 (USD Million)

U.S. protein supplements market

The growing demand for protein among women owing to the “strong not skinny” trend and rising popularity of resistance training for women are likely to fuel the market growth. Moreover, the increasing adoption of high protein diet as a part of weight reduction is expected to propel the demand.

Asia Pacific is anticipated to witness the fastest growth over the forecast period. Factors, such as urbanization, western influence on diets, population growth, growing middle-class population with greater disposable incomes, increasing frequency of exercise, and growing focus on leading active and healthy lifestyles in emerging economies including China and India, are expected to drive the demand.

North America and Europe are the largest markets for these products owing to the aging population in western economies including the UK, the U.S., Italy, and Germany. Growing consumer focus on leading healthy & active lifestyles, maintaining a healthy diet, and regular exercise is expected to fuel growth.

The easy and abundant availability of raw materials including whey, casein & soy coupled with the increasing demand for sports nutrition and presence of a vast number of players including Glanbia; NBTY; and IOVATE is likely to drive demand over the forecast period. However, fluctuations in the raw material prices and regulations on food allergens are likely to hinder the industry growth over the upcoming years.

Raw Material Insights

Whey was the dominant raw material segment and accounted for 56.6% of the overall revenue in 2016. The factors contributing to the segment growth include increased adoption of the product for maintaining & building muscle mass, enhancing the recovery of athletes from heavy exercises, and building muscle strength in response to endurance & strength training. 

Pea protein is expected to witness the fastest growth at a CAGR of 7.7% from 2017 to 2025 owing to its growing popularity among various end users including vegetarians, vegans, and those allergic to egg and dairy proteins.

Source Insights

By source, animal-based protein was the dominant segment and accounted for 68.9 % of the overall market revenue in 2016 on account of its easy availability, high rate of absorption, and the presence of several nutrients including vitamin B12, vitamin D, DHA, Heme-iron, and zinc. 

However, plant-based proteins are expected to witness the fastest growth at a CAGR of 7.9% from 2017 to 2025 as a result of growing popularity among consumers including vegans, vegetarians, and those individuals allergic to dairy and egg products.

Product Insights

Protein powder was the most preferred product segment in 2016 and accounted for 64.5% of the overall revenue. Protein powder is expected to witness substantial growth and remain the dominant product segment over the forecast period. The strong online sales, mass distribution channels, and increasing number of standalone mass facing brands by various companies including Glanbia, NBTY and IOVATE are expected to drive the demand. 

RTD is expected to display high gains at a CAGR of 7.0%. from 2017 to 2025.The increasing demand for sports nutritional supplements coupled with the rising demand for easy and readily available protein supplementation is expected to fuel market growth over the forecast period.

Application Insights 

Sports nutrition was the largest and fastest growing application segment and accounted for approximately 75% of the overall market revenue in 2016. The increasing demand for sports nutritional supplements from countries including the U.S., Canada, the UK, Germany, Italy, and India is expected to drive demand over the forecast period.

In addition, the growing demand for sports nutritional supplementation to promote lean muscle growth, improve performance and stamina, and weight reduction coupled with the increasing number of gym goers is expected to fuel market demand.

Distribution Channel Insights

Online stores accounted for majority sales in 2016 and valued at USD 6.62 billion. The increasing number of internet users, ease of access, fast paced lifestyle, 24/7 availability, convenience, and access to wide options are the factors driving online sales. Moreover, discussion portals, discounts & offers on products, and various promotional strategies are expected to fuel online sales over the forecast period.

Global protein supplement market revenue, by distribution channel, 2016 (%) 

Global protein supplements market

DTC or Direct-to-consumer is the fastest growing sales channel owing to the increasing investment by major companies including Glanbia, Quest Nutrition, IOVATE, and NBTY to expand their consumer base and extend reach in China and India.

Regional Insights

North America was the dominant market in 2016 and accounted for 50.7% of the overall revenue share on account of the presence of a large number of players and the growing sports nutrition industry. The growing demand for fitness supplements from consumers and athletes is expected to fuel market growth over the forecast period. 

Europe is expected to show a reasonable growth over the forecast period owing to an emphasis on healthy living, growing trend toward preventive health care, and increasing demand for protein supplements from countries including the UK and Germany.

Competitive Insights

The market is concentrated in nature and comprises of large as well as small players. Manufacturers have concentrated their businesses in North America and Europe despite the presence of their distribution networks across other regions. 

Prominent market players such as Glanbia Plc; GNC; NOW Foods; NBTY; AMCO; Quest Nutrition; and IOVATE have set up their distribution networks for the supply of products in developing regions including Central & South America and Asia Pacific owing to the increasing demand from these regions.

In January 2017, Glanbia acquired Amazing Grass in the U.S., to expand its plant-based nutrition category. In February 2017, Glanbia acquired Body & Fit, a Netherlands-based company to have a direct presence in the swiftly growing DTC channel.

In June 2016, AMCO launched ProFit Premixes, an active nutrition product line consisting of various dairy and plant-based high protein blends directed toward the nutritional industry.

In July 2017, MusclePharm partnered with the United States Air Force School of Aerospace Medicine (USAFSAM) to formulate and manufacture tailor-made powder supplements to cater to the needs of the special tactics airman in combat.

Report Scope 

Attributes

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation                                                

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Canada, UK, Germany, China, India, and Brazil

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

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Segments covered in the report
:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global protein supplements market on the basis of raw material, source, product, distribution channel, application, and region:

  • Raw Material Outlook (Revenue, USD Million; 2014 - 2025)

    • Whey

    • Casein

    • Soy

    • Pea

    • Others

  • Source Outlook (Revenue, USD Million; 2014 - 2025)

    • Animal Based

    • Plant Based

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Protein Powders

    • Protein Bars

    • RTD

    • Others

  • Distribution Channel Outlook (Revenue, USD Million; 2014 - 2025)

    • Supermarket

    • Online Stores

    • Direct to Customer (DTC)

    • Others

  • Application Outlook (Revenue, USD Million; 2014 - 2025)

    • Sports Nutrition

    • Functional Food

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

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