May 28, 2019: The global protein supplements market size is expected to reach USD 21.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.3% over the forecast period. Increasing number of fitness centers, gyms, and health clubs signifies rising inclination towards healthier lifestyle. Athletes, bodybuilders, and recreational users have been the traditional consumers of the product.
Pea is expected to be the fastest-growing raw material segment in the market over the forecast period. Pea protein contains all essential amino acids required for body functioning. It is associated with several health benefits including improvement of blood circulation, weight management, calcium absorption, metabolism enhancement, and blood sugar regulation. These proteins are significant for the consumers allergic with dairy and eggs. In addition, rise in demand for meat protein alternatives is anticipated to propel the growth of pea protein supplements over the forecast period.
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Plant-based is expected to be the fastest-growing source segment in the market over the forecast period. Rising preference among consumers for plant-based diets owing to increasing number of individuals turning vegan, vegetarian, or flexitarian (people who primarily follow a vegetarian diet but consume fish or meat occasionally) is expected to drive the demand for plant-based products. In addition, ascending demand for vegan and vegetarian products that provide quality nutrition without having to rely on dairy or meat products, coupled with innovations in alternative protein products, is expected to open up new growth avenues.
Sports nutrition is expected to be the fastest-growing application segment in the market over the forecast period. Rising prevalence of health diseases owing to hectic schedules and nature of work, coupled with increasing consumer awareness about the relationship between maintaining a healthy diet and exercising, is anticipated to result in increased demand for sports nutritional supplements.
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Asia Pacific is anticipated to be the fastest-growing region in the protein supplements market over the forecast period. This is attributed to increasing population, rising middle class with increased level of disposable incomes, and growing agenda of individual preventive healthcare by personal ownership of wellness and health. Rising cost of medical care, rising concerns regarding public healthcare systems, urbanization, westernization of diet, and shifting consumption patterns from traditional meal timing to new convenient formats to adapt to busy lifestyles is expected to drive the demand for the product.
Further key findings from the study suggest:
- The whey raw material segment was valued at USD 7.9 billion in 2018 and is anticipated to expand at a CAGR of 6.5% from 2019 to 2025
- The pea segment is likely to reach USD 2.3 billion by 2025, progressing at a CAGR of 7.8% from 2019 to 2025
- In terms of revenue, the animal-based source segment is expected to expand at a CAGR of 5.6% over the forecast period
- The plant-based segment is likely to reach USD 7.7 billion by 2025, registering a CAGR of 7.9% from 2019 to 2025
- In terms of revenue, the ready to drink product segment is anticipated to reach USD 4.1 billion by 2025
- The industry is characterized by accreditation of the product, capacity expansion, capital expansion, and substantial investment decisions to increase the market share of manufacturers
- Some of the prominent companies present in the industry are Glanbia Plc, AMCO Proteins, Quest Nutrition, NOW Foods, NBTY, MusclePharm Corp, Abbot Laboratories, Cyto Sport, IOVATE, and Transparent Labs.
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