April 20, 2024
Protein Supplements Market

Protein Supplements Market Propelled by Rise in Health and Wellness Consumption

Protein supplements have various nutritional benefits as they help boost muscle growth and recovery from exercise. These supplements are manufactured from various protein sources including soy, egg, and whey to provide optimum nutrition. They help build and maintain muscle mass and are especially useful for athletes and gym enthusiasts. The Global Protein Supplements Market Size is estimated to be valued at US$ 31.6 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rise in Health and Wellness Consumption

The key trend propelling the growth of the protein supplements market is the rising health and wellness consumption among consumers. There is a growing consumer focus on maintaining a balanced diet and active lifestyle. Protein supplements are widely marketed as dietary aids for building muscles and losing weight. Dietary supplement brands emphasize on protein’s role in muscle growth and recovery. As more people engage in fitness activities and join gyms, the demand for protein-rich performance nutrition products is surging rapidly. The increased marketing of protein as an essential macro-nutrient combined with growing health consciousness is expected to drive the protein supplements market over the forecast period.

SWOT Analysis

Strength: Protein supplements provide additional protein to aid muscle recovery and growth. They support active lifestyles and fitness goals.
Weakness: Some protein supplements contain artificial ingredients or allergens. Excessive intake without proper hydration can stress the kidneys.
Opportunity: Rising health awareness is driving demand for nutrition/wellness products. People increasingly seek convenient sources of high-quality protein.
Threats: Stricter regulation of supplement claims and ingredients may affect some brands. Customers have more options for getting protein from whole foods.

Key Takeaways

The global protein supplements market is expected to witness high growth.

Regional analysis: North America dominates the market currently due to rising health consciousness. The region witnesses high consumption of wellness products. Europe and Asia Pacific also offer lucrative opportunities for suppliers and new entrants. Rising middle class population with increasing disposable incomes is driving demand in Asia Pacific.

Key players operating in the protein supplements market include Cerner Corporation, Allscripts, Apple Inc, McKesson Corporation, Epic Systems Corporation, QSI Management, LLC, AT&T, Softserve, IBM Corporation, CISCO Systems, Inc. These companies are launching online platforms, new technologies and customised products to strengthen their market positions. They are investing in R&D to introduce protein supplements with enhanced nutrition and functional benefits. Partnerships with fitness brands and influencers is another strategy adopted by major players to promote their products.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it