Protein Supplements Market Insights
The global protein supplements market is expected to grow at a CAGR of more than 6% over the forecast period. Factors such as increasing health-related concerns coupled with growing awareness of consumers to lead an active lifestyle are anticipated to fuel the market growth.
In addition, rise in obesity rates along with increase in spending capacities of consumers are further likely to influence the growth of the market. However, availability of cheaper alternatives and side-effects of protein supplements are likely to restrain the market growth over the coming years.
Moreover, advancements in the manufacturing of products containing proteins have a large amount of amino acids, which is used to target health-related concerns such as muscle repair, weight loss, and satiety.
Protein Supplements Market: Raw Material Insights
On the basis of raw-materials, the protein supplements market is segmented into Whey, Casein, Soy, and Pea among others. Soy protein type is anticipated to grow at a significant rate due to its properties such as low-fat content, easy digestibility, and cholesterol maintenance.
Pea protein segment is anticipated to witness a CAGR of more than 8% over the forecast period due to high consumption of it among various end users.
Protein Supplements Market: Source Insights
The protein supplements market is classified into animal-based protein and Plant-based proteins. Animal-based protein accounted for the dominant revenue share in 2016 due to its high absorption rate, ease of availability, and the presence of several essential nutrients such as zinc, vitamin D, DHA, and vitamin B12. Plant-based proteins are likely to register a CAGR of 8.5 % over the forecast period on account of its increasing demand amongst consumers especially vegetarians.
Protein Supplements Market: Product Insights
Based on Products, the protein supplements market is segmented into Protein Bars, RTD, and Protein Powders, among others. Protein powder product type recorded the largest revenue share in 2016 and is further likely to witness substantial growth over the forecast period. Factors such as strong online sales along with mass distribution channels are likely to fuel the demand over the coming years. RTD product segment is also expected to register a lucrative CAGR due to growing demand for easy and readily available protein supplements.
Protein Supplements Market: Application Insights
On the basis of application, the protein supplements market is divided into Sports Nutrition and Functional Foods. Sports nutrition application segment accounted for more than 70% of the overall market revenue in 2016. Factors such as increasing demand for sports nutritional supplements to promote lean muscle growth, enhance performance & stamina, and weight reduction are projected to increase market demand for this segment.
Protein Supplements Market: Distribution Channel Insights
The protein supplements market is classified into Supermarket, DTC, and Online Stores, based on distribution channels. Online stores segment recorded the maximum sales in 2016. The increasing sale of this segment is attributed to easy accessibility, convenience, and a large number of internet users across the world.
Protein Supplements Market: Regional Insights
Asia Pacific is expected to grow at a CAGR of more than 8% over the forecast period. This growth is attributed to the increase in demand for protein supplements in emerging economies. North America accounted for the dominant revenue share of the global market in 2016 due to increasing demand for protein supplements from consumers and athletes.
The market in Europe is also anticipated to grow at a significant rate due to growing demand for protein supplements from countries such as the UK and Germany.
Protein Supplements Market: End-Use Landscape
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from the protein supplements market. The major consumers of the product are Kroger Company and Tesco amongst others.
Protein Supplements Market: Competitive Landscape
Key players profiled in the protein supplement market include are Abbott Laboratories, ABH Pharma Inc., Amway Corporation, Glanbia Group, Forever Living Inc., Garden of Life, Melaleuca Inc., New Vitality, Nu Skin Enterprises, Inc., Shaklee Corporation, USANA Health Sciences, Vitacost.com, Inc., Isostar, Atlantic Multipower UK Limited, and Dalblads.
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