The global protein supplements market size is expected to reach USD 10.8 billion by 2030, growing at a CAGR of 8.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing steady growth driven by several factors including shifting dietary preferences toward plant-based foods coupled with rising consumer awareness toward nutritional supplements.
Consumers are becoming increasingly health-conscious as well as there is growing awareness of the potential health benefits associated with a plant-based diet. This trend has led to an increased demand for plant-based protein supplements, which are considered a healthier and more sustainable alternative to traditional animal-based protein sources.
One of the main advantages of plant-based protein supplements is that they tend to be lower in saturated fat and higher in fiber than animal-based protein sources. They are also easier to digest, making them a popular choice for individuals with digestive issues or food sensitivities.
In addition to the health benefits, plant-based protein supplements are seen as a more environmentally sustainable option than animal-based sources. The environment is impacted significantly by animal agriculture, including greenhouse gas emissions and water usage. By choosing plant-based protein supplements, consumers can reduce their environmental footprint and contribute to a more sustainable food system.
The rise of veganism and vegetarianism has also contributed to the increasing preference for plant-based protein supplements. As more consumers adopt these lifestyles, there is a growing demand for high-quality, plant-based protein sources that can help individuals meet their nutritional needs.
Furthermore, the emergence of online platforms and e-commerce websites has made it convenient for consumers to purchase protein supplements, which has further contributed to the growth of the market. Consumers can now easily compare prices, read product reviews, and purchase supplements from the comfort of their own homes.
Recognizing the immense growth potential of protein supplements for sports and nutrition, the market players are engaging in various strategies to leverage this demand. For instance, in October 2022, The Vitamin Shoppe joined forces with Warner Bros. Consumer Products to introduce DC flavors by BodyTech. This range of pre-workout, protein, creatine, and other premium supplement products is inspired by the iconic superheroes and super-villains of the DC Universe, offering customers a new and exciting way to incorporate their favorite characters into their fitness routine. The Wonder Woman Sherbet Whey Protein Isolate, for instance, has high concentrations of BCAAs, is low in lactose, and contains fast-absorbing, high-quality protein.
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Protein Supplements Market Report Highlights
- Based on source, animal-based protein supplements held the largest market share of 61.1% in 2022. It has a higher protein concentration and is, therefore, preferred for manufacturing supplements
- The protein powder segment emerged as the largest product segment with the highest revenue share of 56.1% in 2022. Plant-based protein powders are also gaining popularity, driven by the increasing number of consumers opting for vegan or vegetarian diets
- Based on region, the Asia Pacific region is anticipated to witness a significant CAGR of 8.8% over the forecast period owing to rising awareness among consumers regarding the important role of gut health in overall wellness
- Some of the major market players include Glanbia Plc; MusclePharm; Abbott; CytoSport Inc.; QuestNutrition LLC; Iovate Health Sciences International Inc.; The Bountiful Company; AMCO Proteins; and Now Foods
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Sports nutrition products include sports drinks, supplements, and food that include protein powders, Isotonic drink powder, capsule/tablets (creatine/branched chain amino acids and others), supplement powder, ready-to-drink protein drinks, carbohydrate drinks, protein bars, carbohydrate/energy bars and other supplements.The sports nutrition market is expected to witness significant growth within the forecast period on account of increasing demand from recently emerging lifestyle and recreational users.
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The high number of cheap counterfeit products affects sales of reputed companies and therefore, availability of these products is expected to restrict the growth of sports nutrition market.
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Both top-down and bottom-up approaches have been used to estimate and validate the market size of Sports Nutrition market, to estimate the size of various other dependent submarkets in the overall market.
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