Protein Supplements Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 27.99 Billion |
| Market Size (2029) | USD 40.09 Billion |
| CAGR (2024 - 2029) | 7.45 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
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*Disclaimer: Major Players sorted in no particular order |
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Protein Supplements Market Analysis
The Protein Supplements Market size is estimated at USD 27.99 billion in 2024, and is expected to reach USD 40.09 billion by 2029, growing at a CAGR of 7.45% during the forecast period (2024-2029).
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, content, sources, forms, and flavors, caters to a vast global consumer group and actively drives the market. 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. Furthermore, the rising prominence of physical activities, international sports, and fitness events promotes the consumption of protein supplements, as protein is a vital ingredient in maintaining physical health. Social media influencers and various government initiatives and campaigns encourage consumers to participate in multiple fitness and sports-related activities, thus contributing to the increasing expenditure on maintaining a healthy lifestyle. Besides this, as protein is present in small amounts in fruits and vegetables, the rising vegan population is shifting toward protein supplements to meet their dietary requirement.
Protein Supplements Market Trends
Market Diversity & Product Innovation Propelling Protein Supplement Demand
Protein has become a popular macronutrient among consumers, including athletes who use it to enhance performance, aging seniors who maintain muscle mass, and busy individuals who use it to meet their daily nutritional requirements. This factor has been boosting the sales and consumption of protein supplements globally. Besides this, companies are formulating innovative functional products with high protein and multiple flavors to satisfy burgeoning demand. For instance, in March 2022, MusclePharm, a global provider of 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. Moreover, the rising vegan population globally has compelled manufacturers to invest in plant-based supplements. In September 2022, Tata Consumer Products (TCP) launched GoFit plant protein powder to capitalize on the increasing vegan population in India.
Asia-Pacific Is Likely to Hold a Significant Share in the Market
Asia-Pacific will likely hold a significant share of the market studied and witness rapid growth owing to a higher percentage of young consumers and rising disposable income levels.
China is expected to lead the growth of the region, owing to government initiatives promoting increased participation in sports and fitness activities as a means for residents to lead active and healthier lifestyles. With the increasing number of people engaging in regular exercise and sports activities, there is a higher demand for protein supplements to aid in muscle recovery, growth, and overall performance enhancement. According to the China fitness industry data report 2022, there were 85,149 gyms across China, including 39,620 fitness clubs and 45,529 fitness studios in 2022.
The protein supplement market in India has seen continuous innovation in product formulations, flavors, and packaging. Manufacturers are developing various protein supplements in powders, ready-to-drink shakes, protein bars, and other convenient formats to cater to consumer preferences. For instance, in 2023, Naturell (India) Private Limited launched two protein powders, including Max protein whey protein and Max protein plant protein. Each product contains 24g of protein and 5.2g of Branched-Chain Amino Acids (BCAAs) to support muscle recovery and growth.
Protein Supplements Industry Overview
The global protein supplements market is fragmented, with the presence of several regional and global players. The players with substantial market shares include Glanbia PLC, Mondelez International Inc., Meiji Holdings Company, Woodbolt Distribution LLC, and The Hut Group. Companies are increasing their investments in research and development (R&D) and marketing and are expanding their distribution channels to maintain their position in the market. They are also adopting competitive strategies by investing more in developing products according to the tastes and preferences of the new-generation customers. Along with a strong product portfolio, companies use corporate strategies like partnerships, mergers, and acquisitions to penetrate the market.
Protein Supplements Market Leaders
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Glanbia PLC
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Mondelez International Inc.
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The Hut Group
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Meiji Holdings Company Ltd
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Woodbolt Distribution LLC
*Disclaimer: Major Players sorted in no particular order
Protein Supplements Market News
- March 2024: Optimum Nutrition partnered with Spartan, bringing together two industry leaders for a significant collaboration. These brands joined forces for a multi-year partnership expected to span activities across 90 events in 29 countries.
- March 2024: Perfect Snacks launched a Perfect Bar line-up of refrigerated protein bars in Chocolate Brownie flavor. The new variant is a blend of freshly ground peanut butter, cashew butter, and cocoa, topped with dark chocolate chips. The new bar is claimed to be an organic and gluten-free brownie-flavored protein bar containing more than 20 superfoods as ingredients.
- December 2023: Sports nutrition company MyProtein launched a new flavor of its clear whey protein, Iron Brute, described as 'undeniably Scottish.'
Protein Supplements Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
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4.1 Market Drivers
- 4.1.1 Product Diversity and Innovation Propelling Protein Supplement Demand
- 4.1.2 Growing Adoption Of Active Lifestyle
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4.2 Market Restraints
- 4.2.1 Presence Of Counterfeit Products
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Buyers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitutes
- 4.3.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Form
- 5.1.1 Powder
- 5.1.2 Ready To Drink
- 5.1.3 Bars
- 5.1.4 Other Forms
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5.2 Source
- 5.2.1 Animal-based
- 5.2.2 Plant-based
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5.3 Distribution Channel
- 5.3.1 Supermarkets & Hypermarkets
- 5.3.2 Online Retail Stores
- 5.3.3 Health and Wellness Stores
- 5.3.4 Other Distribution Channels
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.1.4 Rest of North America
- 5.4.2 Europe
- 5.4.2.1 United Kingdom
- 5.4.2.2 Germany
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Russia
- 5.4.2.6 Spain
- 5.4.2.7 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 Rest of Asia-Pacific
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle East & Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Glanbia Plc
- 6.3.2 The Hut Group
- 6.3.3 Meiji Holdings Co., Ltd
- 6.3.4 Mondelez International Inc.
- 6.3.5 Woodbolt Distribution LLC
- 6.3.6 PepsiCo Inc.
- 6.3.7 WK Kellogg Co.
- 6.3.8 1440 Foods
- 6.3.9 Simply Good Foods Company
- 6.3.10 Iovate Health Sciences International Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Protein Supplements Industry Segmentation
Protein supplements are processed, refined protein products available in various forms, ranging from powders to bars to drinks. Athletes and individuals use these products extensively as dietary supplements to increase muscle mass, enhance recovery, and boost overall performance.
The global protein supplements market is segmented by form, source, distribution channel, and geography. By form, the market is segmented into powder, bars, ready-to-drink, and other forms. By source, the market is segmented into animal-based and plant-based. By distribution channel, the market is segmented into supermarkets & hypermarkets, online retail stores, health and wellness stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
The market sizing has been done in value terms in USD for all the abovementioned segments.
| Form | Powder | |
| Ready To Drink | ||
| Bars | ||
| Other Forms | ||
| Source | Animal-based | |
| Plant-based | ||
| Distribution Channel | Supermarkets & Hypermarkets | |
| Online Retail Stores | ||
| Health and Wellness Stores | ||
| Other Distribution Channels | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | United Kingdom |
| Germany | ||
| France | ||
| Italy | ||
| Russia | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East & Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Protein Supplements Market Research FAQs
How big is the Protein Supplements Market?
The Protein Supplements Market size is expected to reach USD 27.99 billion in 2024 and grow at a CAGR of 7.45% to reach USD 40.09 billion by 2029.
What is the current Protein Supplements Market size?
In 2024, the Protein Supplements Market size is expected to reach USD 27.99 billion.
Who are the key players in Protein Supplements Market?
Glanbia PLC, Mondelez International Inc., The Hut Group, Meiji Holdings Company Ltd and Woodbolt Distribution LLC are the major companies operating in the Protein Supplements Market.
Which is the fastest growing region in Protein Supplements Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Protein Supplements Market?
In 2024, the North America accounts for the largest market share in Protein Supplements Market.
What years does this Protein Supplements Market cover, and what was the market size in 2023?
In 2023, the Protein Supplements Market size was estimated at USD 25.90 billion. The report covers the Protein Supplements Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Protein Supplements Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging trends in the Protein Supplements Market?
The emerging trends in the Protein Supplements Market are a) Increased focus on clean-label and organic ingredients b) Rise of customized protein blends and supplements tailored to individual needs and fitness goals
What are the emerging trends in the Protein Supplements Market?
The emerging trends in the Protein Supplements Market are a) Increased focus on clean-label and organic ingredients b) Rise of customized protein blends and supplements tailored to individual needs and fitness goals
Protein Supplements Industry Report
The global protein supplements market, including the protein powder industry and various protein supplements brands, is witnessing remarkable growth, fueled by heightened consumer health and nutrition awareness. This market offers a diverse product range, from protein powders to ready-to-drink supplements and protein bars, catering to a broad audience including bodybuilders, athletes, and casual exercisers. The surge in plant-based protein products, driven by environmental and animal welfare concerns, is expanding the market to vegan and vegetarian consumers, with brands innovating to meet this demand. Market segments like RTD and protein bars are becoming increasingly popular for their convenience, aligning with the fast-paced lifestyle of consumers seeking nutritious snacks. Protein supplement manufacturers are pushing the envelope with new formulations and flavors to capture the attention of health-conscious individuals. Despite challenges like high production costs and raw material price volatility, the protein supplement market trends indicate robust growth, propelled by a rising demand for sports nutrition and a focus on personal wellness. For detailed insights, Mordor Intelligence™ offers a comprehensive analysis, including market share, size, revenue growth rate, and a forecast outlook, available as a free report PDF download.
