SAN FRANCISCO, Jan. 24, 2022 /PRNewswire/ -- The global animal based protein supplements market size is expected to reach USD 22.26 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.4% from 2020 to 2028. Increasing instances of fitness and sporting activities among consumers have led to nutrition awareness, thus positively impacting the market growth.
The whey raw material segment dominated the global market in 2020 owing to the availability of high protein content in it. Additionally, it is increasingly being used as a protein source for fortifying functional and nutritional food products, which is further expected to increase its demand during the forecast period.
Key Insights & Findings from the report:
- By raw material, the whey segment dominated the market with a share of over 55.0% in 2020. This is attributed to its health advantages such as building muscles, lowering blood pressure, promoting fat loss, reducing stress and inflammation, repairing muscle tissues, lowering cholesterol levels, and promoting overall health
- The ready-to-drink product segment is expected to register the highest CAGR of 7.8% during the forecast period. This is attributed to the increasing product demand by fitness enthusiasts and a changing fitness landscape worldwide, coupled with high demand for convenience among consumers
- By distribution channel, the online stores segment is anticipated to grow at the fastest rate during the forecast period. The easy availability of multiple brands, penetration of the internet in developing countries, and the convenience of shopping are key factors boosting the sales growth through online retail
- The sports nutrition application segment accounted for the largest share of over 60.0% in 2020 owing to a rise in the number of consumers focused on self-care, preventive medication, and fitness activities, coupled with the increasing instance of lifestyle diseases, such as diabetes and obesity
- North America dominated the market with over 45.0% share in 2020. Factors fueling the market growth in the region include growing healthcare costs, rapid advances in science and technology, the rising geriatric population, and growing interest in attaining wellness through diet
Read 130 page market research report, "Animal Based Protein Supplements Market Size, Share & Trends Analysis Report By Raw Material (Whey, Casein, Egg, Fish), By Product, By Distribution Channel, By Application, By Region, And Segment Forecasts, 2020 - 2028", by Grand View Research
The protein powder product segment accounted for the largest revenue share in 2020. The escalating global trends of exercise and fitness, coupled with a strong preference among consumers for snacks that boost energy and aid in muscle building, are contributing to the growth of energy-building snacks such as protein bars.
The sports nutrition application segment dominated the market in 2020 owing to consumers' desire for a healthy and active lifestyle, which has led to an increase in sports and fitness participation. Additionally, key players such as Quest Nutrition are focusing to meet the demand for sports nutrition by introducing products enriched with proteins in compact sizes and new formats, thus fueling the growth.
The Asia Pacific market is anticipated to witness the fastest growth over the forecast period owing to the increasing urbanization and growing middle-class with high disposable income. Additionally, increasing frequency of exercise and rising focus on leading an active and healthy lifestyle in economies such as China and India are expected to contribute to the market growth.
Market Segmentation:
Grand View Research has segmented the global animal based protein supplements market on the basis of raw material, product, distribution channel, application, and region:
- Animal Based Protein Supplements Raw Material Outlook (Revenue, USD Million, 2017 - 2028)
- Whey
- Casein
- Egg
- Fish
- Others
- Animal Based Protein Supplements Product Outlook (Revenue, USD Million, 2017 - 2028)
- Protein Powder
- Protein Bars
- Ready-to-Drink
- Others
- Animal Based Protein Supplements Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
- Supermarkets/ Hypermarkets
- Online Stores
- Chemist/ Drugstores
- Specialty Stores
- Others
- Animal Based Protein Supplements Application Outlook (Revenue, USD Million, 2017 - 2028)
- Sports Nutrition
- Functional Food
- Animal Based Protein Supplements Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- Central & South America
- Brazil
- Middle East & Africa
- UAE
List of Key Players of Animal Based Protein Supplements Market
- Glanbia plc
- MusclePharm Corporation
- Abbott Laboratories
- CytoSport, Inc.
- Iovate Health Sciences International Inc.
- Quest Nutrition
- THE BOUNTIFUL COMPANY
- AMCO Proteins
- NOW Foods
- Transparent Labs
- WOODBOLT DISTRIBUTION LLC
Check out more studies related to protein supplements, published by Grand View Research:
- Protein Supplements Market - The global protein supplements market size was valued at USD 18.91 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2028. The market is gaining momentum owing to the increasing health consciousness and a rising number of fitness centers around the globe.
- Plant Based Protein Supplements Market - The global plant based protein supplements market size was valued at USD 5.35 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% from 2020 to 2028. The growth of the market can be attributed to the increasing awareness among consumers regarding the nutritional values of plant-based products such as low sodium and high amino acids.
- U.S. Protein Supplements Market - The U.S. protein supplements market size was valued at USD 5.74 billion in 2016, in terms of revenue, and is projected to expand at a CAGR of 6.2% over the forecast years. Growing health consciousness and awareness about leading an active lifestyle are expected to drive the market.
Browse through Grand View Research's coverage of the Global Nutraceuticals & Functional Foods Industry.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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