Protein Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Protein Supplements Market is Segmented by Form (Powder, Ready-to-Drink, Bars, and Others); by Source (Animal-based and Plant-based), by Distribution Channel (Supermarkets & Hypermarkets, Pharmacies And Drug Stores, Specialty Stores, Online Retail Stores, Gym And Health Clubs, and Others); and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The report offers market size and forecast in value terms in USD million for all the above segments.

Protein Supplements Industry Overview

Global Protein Supplements Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 7.8 %

Major Players

Global Protein Supplements Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Protein Supplements Market Analysis

The Global Protein Supplements Market is projected to witness a CAGR of 7.8% during the forecast period (2022 - 2027).

Protein supplements are popular among gym fanatics, and fitness enthusiasts, as they influence various aspects of the body such as muscle growth, metabolism, energy levels, heart health, and weight management. The diversity of protein supplements, in terms of claims, protein content, sources, forms, and flavors, is catering to a wide consumer group around the globe and driving the market actively. It is expected to continue gaining momentum during the forecast period as well. Additionally, the increasing demand for plant-based protein is expected to push manufacturers to bring organic and clean-label protein supplements across the market channels.

With the onset of Covid-19, protein supplements gained increased prominence for their apparent ability to enhance immunity. As per a two-week survey conducted by Glanbia PLC, a key nutrition products producer, in April 2020 to track the impact of COVID-19 on consumers spending on food and nutrition products in the United States, the percentage of respondents who consumed protein bars to stay healthy and boost immunity increased from 21% in week 1 to 23% in week 2 of March 2020. The consumption of ready-to-drink protein shakes also increased substantially post-pandemic.

​Furthermore, the rising prominence of sports activities, celebrity endorsements, international sports and fitness events, social media influencers, and various government initiatives and campaigns, encourage consumers to participate in various fitness and sports-related activities, thus contributing to the increasing expenditure on maintaining a healthy lifestyle.

However, government scrutiny in the sports nutrition category, including protein supplements, continues to affect the types of products introduced to the market. The lack of proper guidelines and regulatory framework has resulted in many protein supplements recalls.

Protein Supplements Industry Segments

Protein supplements are essentially processed, refined protein products available in various forms, ranging from powders to bars to drinks. These products are used extensively as dietary supplements by athletes, as well as recreationally active individuals, with the aim of increasing muscle mass, enhancing recovery, and boosting overall performance. The global protein supplements market is segmented by form, source, distribution channel, and geography. By form, the market is segmented into powder, bars, ready-to-drink, and others. By source, the market is segmented into animal-based and plant-based. By distribution channel, the market is segmented into supermarkets & hypermarkets, pharmacies and drug stores, specialty stores, online retail stores, gym and health clubs, and others. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasting have been done in value terms (USD million).

Form
Powder
Ready To Drink
Bars
Other Forms
Source
Animal-based
Plant-based
Distribution Channel
Supermarkets & Hypermarkets
Pharmacies And Drug Stores
Specialy Stores
Online Retail Stores
Gym And Health Clubs
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
France
Italy
Russia
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Protein Supplements Market Trends

This section covers the major market trends shaping the Protein Supplements Market according to our research experts:

Market Diversity & Product Innovation is the Propelling Protein Supplement Demand

Protein has become a popular macronutrient among all consumers, including athletes looking for a competitive edge, aging seniors intent on maintaining muscle mass, and busy individuals who are opting for meal-replacement protein bars and shakes, among other protein supplement types. Specialty diet trends, like paleo, ketogenic, and Whole30, which emphasize fat and protein over carbohydrates and sugar, have compelled a growing number of people to assess their protein intake and seek out new sources, which in turn is further supporting the protein supplement demand across the globe. Meanwhile, commitments to active living and healthy aging drive the protein supplement market in fresh directions. As consumers from various backgrounds with different health goals, lifestyles, and values continue to add more protein to their diet, companies have formulated innovative protein supplements and other functional nutrition products with high protein and in multiple flavors to satisfy burgeoning demand. For instance, in March 2022, MusclePharm, a global provider of leading sports nutrition and lifestyle branded nutritional supplements, launched a high whey protein drink line (Ready-To-Drink protein drink) with over 20g of protein, in multiple, sugar-free flavors.

Protein Supplements Market: Share of Protein Supplements Purchased (in %), By Type, As of September 2021

Asia-Pacific Holds a Significant Share In The Market

The Asia-Pacific region holds a significant share in the market studied and has witnessed rapid growth in recent years owing to a higher percentage of young consumers and rising disposable income levels. China is expected to lead the growth of the region, owing to government initiatives promoting increased participation in sports and fitness activities as a means for residents to lead active and healthier lifestyles. The increasing emergence and rising penetration of various sports leagues, including the Chinese Super League, and ASEAN Basketball League, are creating a culture of fitness and active lifestyles, thereby, driving the protein supplements market in China. In many Asian countries, there has been a discernible change in the lifestyles of consumers, as a larger population participates more frequently in sports, marathons, gyms, fitness clubs, and trekking activities to maintain their physical fitness. This trend has led a growing number of consumers to adopt numerous protein-supplement products, either for pre- or post-workouts. For instance, according to a study published by Food Science and Nutrition Technology, in Malaysia, around 73.7% of the consumers preferred protein shakes, and 68.3% of the consumers preferred whey protein among supplement users exercising in the gym in 2021.

Protein Supplements Market : Market Size (%), By Region, Global, 2021

Protein Supplements Market Competitor Analysis

The global protein supplements market is fragmented with the presence of a number of regional and global players. The players with substantial market shares include Glanbia PLC, Mondelez International Inc., Meiji Holdings Company, Post Holdings, Inc., and The Hut Group. Companies are increasing their investments in research and development (R&D) and marketing and are expanding their distribution channels to maintain their position in the market. Furthermore, they are adopting competitive strategies by investing more to develop products according to the tastes and preferences of the new-generation customers. Along with a strong product portfolio, the companies use various corporate strategies like partnerships, mergers, and acquisitions to penetrate the protein supplements market. For instance, in November 2021, Six Star Pro Nutrition announced a partnership with the United States national soccer team player and European star Weston McKennie to promote active nutrition on and off the pitch.

Protein Supplements Market Top Players

  1. Post Holdings, Inc.

  2. Glanbia PLC

  3. Mondelez International Inc.

  4. The Hut Group

  5. Meiji Holdings Company Ltd

*Disclaimer: Major Players sorted in no particular order

Global Protein Supplements Market Concentration

Protein Supplements Market Recent Developments

  • In July 2022, the Dymatize brand of Post Holdings Inc. launched its new plant-based protein supplement named Complete Plant Protein. The product is developed with vegan ingredients like soy protein which contains 25g of protein in every pack.
  • In July 2022, Glanbia PLC’s Optimum Nutrition commenced manufacturing in India. India became the third manufacturing location for the brand, which was otherwise only produced in the United States and the United Kingdom for global distribution.
  • In February 2022, Nestle Health Science, a business unit of Nestle SA, completed its acquisition of Vital Proteins, a Chicago-based manufacturer of collagen-based foods, beverages, and supplements. Nestle first acquired a majority stake in Vital Proteins in June 2020, and over the past two years, Vital Proteins has shown incredible growth.

Protein Supplements Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHT

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitutes

      5. 4.3.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Form

      1. 5.1.1 Powder

      2. 5.1.2 Ready To Drink

      3. 5.1.3 Bars

      4. 5.1.4 Other Forms

    2. 5.2 Source

      1. 5.2.1 Animal-based

      2. 5.2.2 Plant-based

    3. 5.3 Distribution Channel

      1. 5.3.1 Supermarkets & Hypermarkets

      2. 5.3.2 Pharmacies And Drug Stores

      3. 5.3.3 Specialy Stores

      4. 5.3.4 Online Retail Stores

      5. 5.3.5 Gym And Health Clubs

      6. 5.3.6 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Russia

        6. 5.4.2.6 Spain

        7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Glanbia Plc

      2. 6.4.2 Iovate Health Sciences International Inc.

      3. 6.4.3 The Hut Group

      4. 6.4.4 Scitec Nutrition

      5. 6.4.5 Weider Global Nutrition Llc

      6. 6.4.6 Abbott Laboratories

      7. 6.4.7 Nestle SA

      8. 6.4.8 Post Holdings, Inc.

      9. 6.4.9 Meiji Holdings Co., Ltd

      10. 6.4.10 Mondelez International Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

  9. 9. DISCLAIMER

**Subject to Availability
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Protein Supplements Market Research FAQs

The Protein Supplements Market is studied from 2018 - 2028.

The Protein Supplements Market is growing at a CAGR of 7.8% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Post Holdings, Inc., Glanbia PLC, Mondelez International Inc., The Hut Group, Meiji Holdings Company Ltd are the major companies operating in Protein Supplements Market.

Protein Supplements Industry Reports

In-depth industry statistics and market share insights of the Protein Supplements sector for 2020, 2021, and 2022. The Protein Supplements research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Protein Supplements report PDF.

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