Protein Supplements Market

Market Synopsis:

The Global Protein Supplements Market is valued at USD 20.2 Billion in the year 2021 and is projected to reach a value of USD 32.5 Billion by the year 2028. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 8.3% over the forecast period.

Protein Supplements are one of the most popular dietary supplements used by athletes, recreationally active adults, and soldiers striving to increase muscle mass, improve exercise recovery, and improve performance. In the future years, rising purchasing power parity (PPP) is expected to boost demand for ready-to-drink (RTD).

Furthermore, changing lifestyles are expected to propel category expansion over the next seven years, resulting in increased consumption of dried fruit snacks. Furthermore, the market is expected to be driven by rising demand for protein bars, RTDs, and powders among bodybuilders, top athletes, and casual exercisers. Because of expanding health awareness among consumers around the world, consumption of a protein-rich diet has increased dramatically in recent years. The growing senior population, as well as an increasing number of lifestyle-related disorders including diabetes and obesity, all contribute to increased dietary supplement intake. As more consumers choose to maintain a healthy lifestyle by participating in sports activities or playing sports professionally, the region is likely to see an increase in dietary supplement demand in sports nutrition.

Consumer knowledge of the nutritional benefits of Protein Supplements has grown as a result of several awareness programs launched by non-governmental organizations, government agencies, and businesses, which is projected to boost market expansion. In many countries, the use of premium protein powders and bars is seen as a sign of social standing. Some companies that make nutritional supplements also sell natural and organic products, which adds to the market's growth. The employment of appealing packaging techniques has increased customer awareness, resulting in increased protein and nutritional supplement spending.

Market Segmentation:

The Protein Supplements Market is segmented on the basis of Source, Product, Application, and Distribution Channel. On the basis of Source, the market is segmented into Animal-based and Plant-based. On the basis of Product, the market is segmented into Protein Powder, Protein Bars, Ready to Drink, and Others. On the basis of Application, the market is segmented into Sports Nutrition and Functional Food. On the basis of Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Online Stores, Direct to Customers (DTC), and Others.