07-Dec-2021 | Zion Market Research
As per study of Zion Market Research study, Protein Supplements industry accrued revenue of about US$ 18.97 billion in 2020 and is anticipated to garner earnings of approximately US$ 34.67 billion by 2028. Moreover, Protein Supplements market is prognosis to record CAGR of nearly 8.5% in 2021-2028. Furthermore, growth of protein supplements market over forecast timespan is subject to surging health awareness among youth as well as aging population. Increase in fitness centers and gyms with rise in sports events and physical activities will steer market trends. In addition to this, escalating demand for protein supplements owing to need for fulfilling routine nutritional requirements will propel expansion of protein supplements industry over ensuing years. Rise in customer preference for food supplements along with surge in purchasing power of consumers will steer market size over anticipated timeline. Nonetheless, fluctuating raw material costs of milk and soybean owing to oscillations in demand-supply curve can hinder market expansion over projected timespan.
Animal-Based Source Segment To Make Huge Contributions Towards Total Market Share By 2028
Growth of segment over forecast timespan is subject to rise in demand for animal-based products such as whey, beef, casein, chicken, and eggs owing to growing popularity of proteins. In addition to this, animal-based proteins are considered to be complete proteins as they comprise of large number of amino acids.
Plant-Based Source Segment To Register Fastest CAGR Over 2021-2028
Highest Gains made by plant-based source segment over assessment period is due to massive demand for soy and wheat as they are key protein sources as well as contain essential amino acids. Moreover, large proportion of population across globe is turning vegan & vegetarian and this is likely to further add towards segmental growth. Apparently, wheat and soy contain glutamine, BCAA, and arginine that facilitate quick muscle recovery & aids in rapid absorption of proteins in human body, thereby driving segmental growth.
Ready To Drink Segment To Record Highest CAGR Of 8.9% Over 2021-2028
Expansion of ready to drink segment over projected timeline is owing to ability of ready to drink protein supplements providing direct proteins to human body. Additionally, the ready to drink products offer high protein dose and can be consumed before or after workouts. These products are easily absorbed in body and facilitate quick muscle recovery & aid strong muscle growth.
North America To Contribute Humungously Towards Global Market Revenue By 2028
Expansion of regional market over anticipated timeline is due to rise in consumer awareness about health & fitness in countries such as Canada and the U.S. Apart from this, rise in number of persons in sub-continent following healthy lifestyle will contribute substantially towards regional market revenue over forecasting timeframe. With surge in demand for nutritive food in sub-continent, the expansion of protein supplements market in North America is likely to gain momentum over forecasting years.
Key players profiled in study and favorably influencing market growth include Amway Corporation, GlaxoSmithKline (GSK), ABH Pharma Inc., Glanbia Group, Abbott Laboratories, Vitaco Health Limited, GNC Holdings, Inc., Herbalife International of America, Inc., Makers Nutrition, and Suppleform.
Browse the full “Protein Supplements Market- By Distribution Channel (Supermarkets & Hypermarkets, Online Stores, And Drug Stores), By Product (Ready To Drink And Ready To Eat), By Source (ANIMAL And Plant), And By Raw Material (Casein Protein Supplements, Whey Protein Supplements, Egg Protein Supplements, MPC Protein Supplements, And Soy Protein Supplements): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021–2028.” Report at https://www.zionmarketresearch.com/report/protein-supplements-market
The global Protein Supplements Market is segmented as follows:
By Distribution Channel
By Raw Material
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