Protein Supplements Market Size, Share & Trends Report

Protein Supplements Market Size, Share & Trends Analysis Report By Product (Powder, Ready to Drink), By Application, By Raw Material, By Source, By Distribution Channel, By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Apr, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-1-68038-694-3
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 110

Industry Insights

The global protein supplements market size was valued at USD 14.o billion in 2018 and is driven by increase in health and fitness centers and rising health consciousness among consumers. Increasing popularity of these supplements among millennials and development of innovative protein-based supplement in different forms, coupled with numerous health benefits, are some of the major key factors driving the market over the forecast period.

Furthermore, positive outlook towards the sports nutrition market on account of increasing importance of active lifestyle, along with rising awareness towards protein benefits, is expected to play a crucial role in promoting the use of protein supplements products.

U.S. protein supplements market

Factors such as hectic lifestyle, increasing population of working women, and rising adoption of western food are anticipated to boost the overall protein supplements market growth. In addition, functional advancement including muscle repair, boosting energy, and weight loss, rising usage of snack-based meal replacements, and surging consumer demand for greater ingredient traceability and authenticity are likely to augment the demand for the product over the forecast period.

Powder protein supplements are gaining traction among body builders, exercisers, and athletes. Moreover, demand for ready to drink products is increasing among consumers on account of their growing availability and ease in consumption. Online distribution channels will witness significant growth over the forecast period owing to rising internet users, easy accessibility, busy lifestyle, and availability of options. Additionally, discounts and offers on products will boost online sales in the coming years.

Product Insights

The powder segment held 64.8% share of the overall revenue in 2018. Strong online sales, mass channels of distribution, and increasing number of standalone mass facing brands by various companies, including Glanbia, NBTY, and IOVATE, are expected to fuel the demand for powders. Increasing demand for these products from body builders, elite athletes, and casual exercisers will benefit the market expansion.

Ready to drink (RTD) supplements are considered to be the fastest-growing segment that held around 18.0% share of the overall revenue in 2018. Ready to drink supplements are pre-formulated drinks that are easily available to consume without the requirement for further mixing or preparation.

RTD offers a high dose of proteins that can consumed pre-workout, post-workout, or on the go. These proteins are easily absorbed by the body and promotes muscle recovery and aids in lean muscle growth. Increasing demand for sports nutritional supplements, coupled with rising demand for easy and readily available protein supplementation, is expected to bode well for the market over the forecast period.

Raw Material Insights

The whey segment accounted for 56.7% share of the overall revenue in 2018. Products made out of whey are considered to be the most significant nutrition supplements. Growing popularity of these products among athletes and body builders across the world is anticipated to be a major driver for whey protein over the forecast period. In addition, whey product manufacturers do not require assent from health authorities, which creates tremendous opportunity for the new entrants to penetrate in the industry.

The soy segment is considered to be another key segment in the market that held around 15.7% in terms of revenue in 2018. Rising awareness among consumers regarding health benefits of consuming soy, along with growing trend of veganism and incorporation of different blends suitable for various applications, is the major driving factor for the soy products. However, disparity between demand and supply of soy is the major factor anticipated to restrain the demand over the forecast period.

Application Insights

The sports nutrition segment held 74.8% share of the overall revenue in 2018. Increasing demand for sport nutritional supplements from core, strength and endurance athletes, weekend warriors, fitness enthusiasts, and professional athletes is expected to drive the market demand.

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

Functional food is considered to be another prominent segment and accounted for 25.2% share of the overall revenue in 2018. Increasing awareness regarding leading a healthy and active lifestyle, coupled with growing understanding about the link between exercising and maintaining a balanced and nutrient-rich diet, is driving the demand for protein-rich functional food and beverages.

Distribution Channel Insights

The online stores segment occupied 53.5% share of the overall revenue in 2018. Increasing number of internet users, ease of access, fast-paced lifestyle, 24/7 availability, convenience, and lots of options to choose from are the factors driving online sales. Moreover, discussion portals, discounts and offers on products, and various promotion strategies will fuel online sales over the forecast period.

Direct to customer (DTC) is also considered to be a major segment, which held 20.9% share of the overall revenue in 2018. DTC channel involves direct marketing aimed at the end consumers. Companies are developing user friendly and specialized websites to market their products without the need for any third-party distribution. Major companies including Glanbia, Quest Nutrition, IOVATE, Amway, and NBTY are investing in direct to consumer channels to expand their consumer base and extend their reach to other regions.

Source Insights

The animal-based segment enjoyed 67.6% share of the overall revenue in 2018. It consists of meat and dairy proteins, which include whey, casein, egg, beef, poultry, and fish proteins. Animal-based products are complete sources owing to presence of all the essential amino acids. Milk and egg proteins are the most consumed animal-based products. In addition, presence of various nutrients including vitamin B12, Vitamin D, DHA (Docosahexaenoic acid), heme-iron, and zinc makes animal-based products the preferred source and is anticipated to fuel the growth over the forecast period.

Global protein supplements market

The plant-based segment is expected to register the fastest CAGR of 7.9% over the forecast period. This can be attributed to growing popularity among consumers including vegans, vegetarians, and people who are allergic to dairy and egg proteins. Plant-based products consist of proteins derived from various sources including soy, peas, hemp, wheat, rice, quinoa, canola, cranberry, pumpkin, potato, flax, and oat, wherein soy and pea proteins were the dominant segments. However, plant-based products are not considered to be complete sources owing to lack of one or more essential amino acids. Therefore, various plant-based products are often blended together to account for all the essential nutrients.

Regional Insights

North America emerged as the largest regional market in 2018 with a share of 50.4% in terms of revenue and is expected to retain its pole position throughout the forecast period. Led by countries such as U.S. and Canada, the market in North America has been witnessing a surge in demand for sports nutritional supplements. From a raw material sourcing standpoint, key players operating in the region have been benefiting from an abundant supply of raw materials, thereby facilitating large scale production of protein supplements across this region.

Asia Pacific is expected to expand at the fastest CAGR of 8.9% over the forecast period. Increasing consumer focus on preventive health care, shifting consumption patterns, westernization of diet, and increasing cost of public health care systems are some of the factors contributing to the market growth in Asia Pacific.

Protein Supplements Market Share Insights

The industry is exceptionally aggressive with organizations undertaking a few activities, including regular mergers, acquisitions, and capital extension. Established players are concentrating on expanding their share of the overall industry, alongside productivity through technological innovation.

Numerous global and regional players are currently operating in the market. Key protein supplement manufacturers are implementing various growth strategies to keep up with the rising demand for sports nutrition supplements from various consumers, including athletes, fitness enthusiasts, and everyday people seeking active and healthier lifestyles.

In October 2018, Glanbia plc acquired SlimFast, one of the leading weight management and health and wellness brands. Its products include ready to mix powder, ready to drink products, and gluten free meal replacement shakes, to name a few. This transition complements Glanbia Plc existing portfolio by targeting lifestyle consumers. Moreover, it will help the global consumer trends focused on convenient formats and snacking.

Most major players in the market currently hold a strong position in the market, which is likely to pose a barrier for the new entrants. However, technological breakthrough and research expertise are likely to improve the chances of new entrants in the market.

Distribution and sales locations are another beneficial factor for the companies to enhance their overall positioning in the market. Prominent market players have set up distribution networks for the supply of their products in developing regions, including Central and South America and Asia Pacific, owing to increasing demand from these regions.

The market is dominated by major players such as Glanbia Plc, AMCO Proteins, Quest Nutrition, NOW Foods, NBTY, MusclePharm Corp, Abbot Laboratories, Cyto Sport, IOVATE, and Transparent Labs.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million, CAGR from 2019 to 2025

Regional scope

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

Report coverage      

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

Country Scope

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

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Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest 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 report on the basis of raw material, source, product, distribution channels, 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)

    • Powder

    • Bars

    • Ready to Drink

    • Others

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

    • Supermarkets

    • Online Stores

    • Direct to Customers (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

      • U.K.

    • Asia Pacific

      • India

      • China

    • Central & South America

      • Brazil

    • Middle East & Africa

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