Amsterdam, NL - July 15, 2020 -
Protein supplements are consumed with a balanced diet to increase the intake of protein. Protein powders present in the market are produced from powdered animal /plant. Some of these supplements are used for specific purposes that differ among consumers. Moreover, due to the increasingly busy lifestyle of people-they prefer packed food with ample nutrients like protein bars. Therefore, protein supplements are used by people to maintain their agility. This is primarily because of increasing health and fitness awareness. Moreover, the number of gym and athletic enthusiasts have been increasing by the day which supports the protein supplements market.
The growing awareness amongst people to maintain a healthy lifestyle followed by increasing concerns regarding fitness has been the major drive for this market. In addition to increased demand for protein-rich products, rising concerns regarding obesity have been a key factor supplementing product growth. The busy lifestyles of people which causes the increased intake of packed nutritional food has also been a driver for this market. The production houses also encourage its consumers to ingest protein supplements to upsurge immunity and build muscle mass.
The demand for nutraceuticals and functional foods is expected to increase in advent to COVID-19 since immunity-boosting supplements are consumed by people during this period. Moreover, the demand for plant-based substitutes is anticipated to increase due to the reduction in the consumption of meat. This report accounts for the change in the global market as a result of all the events that occur during the forecast period 2020-2028.
The report, "Global Protein Supplements - Market and Technology Forecast to 2028
” is segmented based on Type, Form and Region.
The type segment comprises of Casein, Whey Protein, Egg Protein, Soy Protein and Others. The Regional segmentation for this market comprises of North America, Europe, APAC, Middle East, Rest of the World. Based on form, the segmentation is further divided into Powder, RTD Liquid and Protein Bars. The source segment is sub-segmented based on Animal-based and plant-based proteins.
The global protein supplements market size is estimated to account for a value of USD 20 billion in 2020 and the market is expected to grow to USD 38 Billion approximately by 2028. The protein supplements market is expected to grow at a CAGR of roughly 8% during the forecast period. North America is expected to be the largest player in the global market. NA consists of a huge number of protein supplement retailers and wholesalers in the U.S which is expected to support the regional growth of this market. The North American market is expected to be fuelled by the US and Canada. The protein supplements market is highly competitive and disjointed when we speak about North America although the presence of key players within the same drives the market.
The Asia Pacific is the fastest-growing market due to an upsurge in the number of people who have joined heath gymnasiums, gyms, and fitness centers. The plant-based protein powders market is expected to boom since the number of people who have turned vegan with regards to environmental concerns has increased. Some of the key players in this market include-Abbott Laboratories, Abh Pharma, Amway Corporation, etc.
The report “Global Protein supplements - Market and Technology Forecast to 2028
” is segmented based on Type, Form and Region. The study period is 2018- 2028 and the forecast period is 2020-2028.
Reasons to buy:
- The report's analysis extends up to the forecast period 2028, therefore it provides a near term and long term futuristic perspective for new players.
- The new players can develop a comprehensive perspective concerning the competitors in this field through this report.
- A detailed analysis of the new opportunities within the market has been provided in the report, potential players can make use of this information to develop a strategy.
- The advancements in technology and their impact has been discussed in detail. Existing players can make use of this section to understand the technology before incorporating the same.
- The drives, restraints, and challenges which are expected to shape the global market, as well as the regional market, have been provided. Potential players can make use of this segment to understand the changing market trends.