ProteinSupplement Market synopsis:
Protein supplements are designed to substitutethe nutritional gaps occurring in the daily diets of the consumers. Due to
urbanization and busy lifestyle, maintaining a proper nutritive diet is getting
hard for the individuals. Growing health care concerns and focus on leading a
healthy lifestyle is inclining the consumers towards the inclusion of protein
supplements in their diet.
Market Research Future, a firm that expertizesin market reports related to Food, Beverages and Nutrition sector among others,
has availed a report asserting the expansion of the global Protein Supplements
Market Share at a CAGR of 4.56% by 2023.
The changing lifestyles and growing awarenessof disorders caused due to protein deficiency is rerouting the attention of the
consumers towards protein supplements. The rise in per capita health care cost
and increased protein supplement visibility on online as well as offline
platforms is tilting the consumer interest over adopting protein supplements to
fill in the nutritional gaps in their diets. The rising awareness of healthy
lifestyle, importance of exercise and increasing demand for supplements
providing higher nutritional value to the mainstream diet is acting as a
driving force for the global Protein Supplement Market. The increase in
research and development expenditure in healthcare sector is augmenting the
expansion of Protein Supplement Market on a global level. The rising trend of
strength gaining exercises and the popularity of resistance training for women
is increasing the demand for authentic protein supplements in the global
market. The abundance and easy availability of natural raw materials required
for the production of protein supplements is one of the factors for the brisk
growth of the Protein Supplement Market. The inclination towards sports,
athletics and daily workouts to lead an active lifestyle is augmenting the
demand for protein supplements in the regular diets of the individuals,
resulting the proliferation of global Protein Supplement Market during the
forecast period.
MarketSegmentation:
The global ProteinSupplements Market Share has been segmented on the basis ofsource, application, form and region. On the basis of source, the market is
segmented into animals, plants and others. The plant sourced protein
supplements are dominating the global market with more than 50% of market
shares.
On the basis of application, the market issegmented into foods, beverages, nutraceuticals, sports nutrition,
pharmaceutical and others. As asserted by MRFR, the nutraceutical based
application will continue to dominate the market with more than 55% of market
shares and the CAGR of 5.14% during the forecast period.
On the basis of form, it is segmented intopowder, bars, liquids and others. On the basis of region, the market is
segmented into North America, Europe, Asia Pacific (APAC) and the rest of the
world. The powder form of protein supplements will dominate the global market with
CAGR of 4.81% as affirmed by MRFR.
RegionalAnalysis:
The global Protein Supplements Market Share isbeing studied in regions like North America, Europe, Asia Pacific and the rest
of the world. Inclination towards dietary supplements in North America is
maintaining the dominance of this region over the global Protein Supplement
Market and it is being followed by Europe.
Population growth, urbanization, westerninfluence of diet, greater disposable income and focus on leading a healthy and
active lifestyle is driving the market in Asia-Pacific. Increasing health
awareness in the developing economies like India and China is boosting the
market growth in this region. The ProteinSupplement Market in the rest of the world is being aided by the growing application
of protein supplements in various industries.
Competitiveanalysis:
From last few years, the prominent players inthe global Liquid ProteinSupplement Industry are investing extensively on thelaunch of new products. Business expansion through strategic mergers and
acquisitions is aiding these players to penetrate the potential market in the
developing economies along with the market across the globe. Availability of
larger consumer base in developing and developed countries is triggering
competitive trend in the market.
The key players in the global ProteinSupplement Market are Glanbia Plc. (Ireland), Archer Daniels Midland Company
(U.S.), Herbalife Ltd (U.S.), GNC Holdings Inc. (U.S.), Amway (U.S.), Abbott
Laboratories (U.S.) and others.
NOTE: Our Team of Researchers are Studying Covid19 andits Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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