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Protein Supplements Market Revenues to Reach USD 36.70 billion by 2028- Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

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Protein Supplements Market Revenues to Reach USD 36.70 billion by 2028- Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

April 01
20:14 2024
Protein Supplements Market Revenues to Reach USD 36.70 billion by 2028- Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

According to the latest research report titled, “Protein Supplements Market (2023 – 2028)” by Mordor Intelligence, the Protein Supplements Market is estimated at USD 25.21 billion in 2023 and growing at a CAGR of 7.80% during the forecast period. 

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. 

Report Summary 

  • Market Size (2023): USD 25.21 billion 
  • Market Size (2028): USD 36.70 billion 
  • CAGR (2024 – 2029): 7.80% 
  • Study Period: (2019-2029) 
  • Report Scope: Market Dynamics, Revenue Forecast & Segmentation, Competitive Landscape & Recent Developments, Market Growth, Future Opportunities, and Trends    
  • Market Drivers: Market Diversity & Product Innovation is Propelling Protein Supplement Demand and Growing Fitness and Sports Culture 

Which are the Top Companies in the Protein Supplements Market?     

The protein supplements market exhibits fragmentation, characterized by the participation of numerous regional and global players. 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. 

Prominent players in the Protein Supplements Market: 

  • Glanbia Plc 
  • Lovate Health Sciences International Inc. 
  • The Hut Group 
  • Scitec Nutrition 
  • Weider Global Nutrition Llc 
  • Abbott Laboratories 
  • Nestle SA 
  • Post Holdings, Inc. 
  • Meiji Holdings Co., Ltd 
  • Mondelez International Inc. 

Other Reports that Might be of Your Interest 

  • Europe Collagen Supplements Market Report: The Europe Collagen Supplements Market size is estimated at USD 1.5 billion in 2024, and is expected to reach USD 2.03 billion by 2029, growing at a CAGR of 6.22% during the forecast period (2024-2029) 
  • Collagen Supplements Market Report: The Collagen Supplements Market size is estimated at USD 5.94 billion in 2024, and is expected to reach USD 8.59 billion by 2029, growing at a CAGR of 7.66% during the forecast period (2024-2029) 

Key Highlights from the Protein Supplements Market Report 

 

1. Market Diversity and Product Innovation Drive Surge in Protein Supplement Demand 

  • Protein’s popularity spans diverse consumer groups, from athletes seeking performance enhancement to seniors preserving muscle mass and busy individuals opting for convenient meal-replacement protein products like powders, bars, and shakes. 
  • Rising interest in specialty diets such as paleo, ketogenic, and Whole30, which prioritize fat and protein over carbohydrates and sugar, is driving individuals to evaluate their protein intake and explore new sources. This trend is fueling global demand for protein supplements. 
  • The market has become more diverse with the growing consumer base, including people from different genders, age groups, goals, etc.  
  • Companies are developing innovative protein supplements and functional nutrition products in multiple flavors to meet the increasing demand from consumers with diverse health goals, lifestyles, and values. 
  • 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.  

2. Asia-Pacific Poised for Significant Market Share in Protein Supplement Industry 

The Asia-Pacific region is anticipated to capture a significant market share and experience rapid expansion, propelled by a larger proportion of young consumers and growing disposable incomes. China is poised to lead this growth, fueled by governmental efforts promoting sports participation and healthier living among residents. These initiatives aim to position China as a prominent player in the global sports arena. Additionally, the burgeoning popularity and wider accessibility of sports leagues, such as the Chinese Super League and ASEAN Basketball League, are fostering a fitness-oriented culture, driving the demand for protein supplements in China. 

What are the Latest Developments in the Protein Supplements Market?    

  • 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. This marks India as the third manufacturing location for Optimum Nutrition products, which were previously exclusively produced in the United States and the United Kingdom for global distribution. The expansion into India highlights Optimum Nutrition’s commitment to meeting the growing demand for its products in the Indian market and further establishing its global presence.  

Mordor Intelligence Report on the Protein Supplements Market segments the market based on product type, application, and geography: 

  • By Form (Market Size & Forecast based on Value (USD billion), 2024-2029)   
  • Powder 
  • 5.1.2 Ready to Drink 
  • 5.1.3 Bars 
  • Other Forms 
  • By Source (Market Size & Forecast based on Value (USD billion), 2024-2029)   
  • Animal-based 
  • Plant-based 
  • By Distribution Channel (Market Size & Forecast based on Value (USD billion), 2024-2029)   
  • Animal-based 
  • Plant-based 
  • By Geography (Market Size & Forecast based on Value (USD billion), 2024-2029)   
  • 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 

In a nutshell, the Mordor Intelligence Market Research Report provides in-depth market insight to industry players, investors, researchers, consultants, and business strategists, looking for comprehensive details on the Protein Supplements Market. Get a glance at the Protein Supplements Market Report (2024 – 2029) 

About Mordor Intelligence 

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.  

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.   

Other Related Reports that Might be of Interest 

  • Dietary Supplements Market Report: The Dietary Supplements Market size is estimated at USD 139.38 billion in 2024, and is expected to reach USD 173.69 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029) 
  • United Kingdom Probiotics Market Report: The United Kingdom Probiotics Market size is estimated at USD 1.91 billion in 2024, and is expected to reach USD 2.27 billion by 2029, growing at a CAGR of 3.62% during the forecast period (2024-2029) 

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