Protein Supplements Market
Protein supplements are the convenient and concentrated source of animal or plant protein. Proteins are made up of amino acids from which the body produces new proteins to make new muscle cells, enzymes, hormones, and other substances in the body. They are available in three forms: bar, drinks, and powder. The human body needs protein for building muscles, maintaining and repairing different type of body tissue. Protein intake leads to an increase in energy and stamina. However, high protein intake can lead to calcium loss from the body.
There are two sources of protein: plant and animal. Animal sources of protein are meat, seafood, eggs, chicken, milk, and milk products such as yogurt, cheese, etc. Plant sources of protein are legumes, nuts & seeds, grain/cereals, and soy milk. The most common form of protein supplements is whey, soy, and casein protein. Athletes mostly use whey protein as it is a key player in building strength and power.
Growing fitness centers and health clubs globally especially in developing economies are anticipated to boost the protein supplements demand during the forecast period. Growing urbanization and increasing penetration of protein supplement brands are anticipated to further fuel the protein supplements market growth. Increasing use of protein supplements by sportspersons and athletes is anticipated to boost the protein supplements market. Growing urbanization and increasing penetration of brands such as Amway, Oriflame, etc. due to chain marketing are anticipated to spurt the protein supplements market growth.
On the basis of product type, the protein supplements market is segmented into ready to drink and ready to eat. Ready to drink segment is projected to dominate the product segment. On the basis of raw material, the protein supplements market is segmented into whey protein supplements, egg protein supplements, MPC protein supplements, casein protein supplements, and soy protein supplements. Soy protein segment is anticipated to be the most profitable segment of the global protein supplement market owing to the presence of low quantity fat, ease in digestibility, and cholesterol maintenance. Based on the source, the protein supplements market is segmented into animal and plant. On account of the distribution channel, protein supplements market is classified as supermarkets and hypermarkets, convenience stores, online stores, and drug stores. Online stores segment is anticipated to hold the maximum share in terms of revenue owing to increasing internet penetration globally.
By geography, Asia Pacific is anticipated to show the fastest growth in the protein supplements market, in term of revenue. Emerging economies experiencing increasing population and growing fitness club & health centers are anticipated to increase the demand for protein supplements in the region. North America and Europe accounted for the largest market share in 2017. Developed nations in the region of North America and Europe are anticipated to show significant growth due to high demand for protein supplements by the geriatric population in the region. Increasing working women population and adoption of protein supplements as a part of weight reduction is anticipated to fuel the protein supplements market growth during the forecast period. Latin America is projected to show significant growth in protein supplements market owing to increasing trend of sport and sports supplements. The Middle East and Africa are likely to show moderate growth during the forecast period due to the growing demand for protein supplements by a young population and the growing attention towards health and fitness.
Some of the key players have been focusing on innovative product launches, research & development, nutritional advancement, maintaining the quality of the product in order to retain their dominance in the market. Some of the key players are Amway Corporation, Abbott Laboratories, Glanbia Group, Herbalife International of America, Inc., ABH Pharma Inc., GlaxoSmithKline (GSK), GNC Holdings, Makers Nutrition, Suppleform, Vitaco Health, and others.
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