United State- Report Ocean (150+ country’s markets analyzed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the Protein Supplements Market. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The Protein Supplements study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the Protein Supplements Market.
The global protein supplements market size was US$ 19.1 billion in 2021. The global protein supplements market is forecast to grow to US$ 39.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
One of the key factors influencing the growth of the protein supplement market is the younger generation’s greater predilection for balanced meals and healthy diet. Due to the greater health consciousness and awareness, millennials have dramatically increased the use of dietary supplements. As a result, it will benefit the protein supplement market in a long term.
Consumer spending on various proteins and related supplements, including ready-to-drink protein-based paediatric milk formulae, has increased over the past few years due to steadily growing disposable income and improving financial stability. People are anticipated to spend more on such products, thereby fueling the market expansion during the study period.
The market will also record tremendous growth as a result of growing health care knowledge, weight concerns, and the ability to buy various items like protein bars and other supplements. Thus, all of the aforementioned factors will drive the protein supplements market forward during the forecast period.
Growing R&D collaborations aimed at launching new products will contribute to the growth of the market. For instance, Eligo Bioscience and GlaxoSmithKline inked a research collaboration in April 2021. Through this strategic partnership, firms aim to speed up research and development operations.
On the flip side, the availability of cost-effective alternatives may limit the growth of the market during the study period.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the demand for protein supplements increased dramatically. The market witnessed huge growth potential due to higher concerns about health. Moreover, the market also recorded the growing interest of fitness enthusiasts in protein supplements due as the gyms closed their doors. Thus, the pandemic emerged as an opportunity for the protein supplements market. Moreover, this healthcare crisis forced people to adopt healthy diet to combat the risk of the virus. Thus, it upsurged the demand for protein supplements, offering industry players an opportunity to launch more efficient products.
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North America is forecast to dominate the protein supplements market, owing to the growing trend of healthy living in the region. Further, rising healthcare expenses and the presence of various industry players, such as MusclePharm, Abbott, etc., will drive this regional protein supplements market forward. Further, the growing trend of vegan food is expected to emerge as an opportunity for the regional market over the forecast period.
Competitors in the Market
• Glanbia plc
• CytoSport, Inc.
• Iovate Health Sciences International, Inc.
• The Bountiful Company
• NOW Foods
• Transparent Labs
• Woodbolt Distribution LLC
• Dymatize Enterprises LLC
• Other Prominent Players
The global protein supplements market segmentation focuses on Type, Gender, Source, Distribution Channel, and Region.
• Whey Protein
• Egg Protein
• Soy Protein
By Distribution Channel
• Online Stores
• Direct to Customers (DTC)
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● North America
o The U.S.
▪ Western Europe
o The UK
o Rest of Western Europe
▪ Eastern Europe
o Rest of Eastern Europe
● Asia Pacific
o Australia & New Zealand
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Rest of South America
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
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