Market Trends of Protein Supplements Industry
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.
