Protein Supplement Market to Reach $8.71 Bn, Globally, by 2025, at 7.4% CAGR: Allied Market Research

Increase in awareness among people regarding health & fitness, significant rise in obesity rates, and surge in demand for supplement from the millennial population drive the growth of the global protein supplement market. On the other hand, presence of cheaper substitute and side-effects and negative publicity & claims restrain the growth to some extent. However, introduction of protein supplements in untapped market and surge in demand from young generation are expected to create a number of lucrative opportunities in the industry.

Increase in awareness among people regarding health & fitness, significant rise in obesity rates, and surge in demand for supplement from the millennial population drive the growth of the global protein supplement market. On the other hand, presence of cheaper substitute and side-effects and negative publicity & claims restrain the growth to some extent. However, introduction of protein supplements in untapped market and surge in demand from young generation are expected to create a number of lucrative opportunities in the industry.

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The whey protein segment to lead the trail till 2025-

Based on product type, the whey protein segment contributed to nearly two-fifths of the total protein supplement market revenue in 2018 and is expected to dominate throughout the forecast period. Increase in demand for sports nutrition products and its value-added tag as clean label ingredients are the two major factors that spur the growth of the segment. On the other hand, the soy protein segment is projected to grow at the fastest CAGR of 8.6% through 2018–2025. This is attributed to various health benefits associated with the consumption of soy products.

The powder segment to rule the roost in terms of revenue-

Based on form, the powder segment held the major share in 2018, generating more than three-fourths of the total protein supplement market. The fact that customers look for convenience even while taking protein supplement has made the manufacturers come up with powdered formats of protein supplements that are convenient to consume. Simultaneously, the RTD liquid segment would showcase the fastest CAGR of 9.0% during the estimated period. Its easy availability and convenience have worked as the two major driving factors for the growth.

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North America to maintain the lion's share by 2025-

Based on geography, North America accounted for more than half of the total protein supplement market share in 2018 and is predicted to retain its dominance by 2025. This is due to rise in number of U.S. consumers adapting a healthy lifestyle or indulging in activities that promotes active and good health. At the same time, the Asia-Pacific region would showcase the fastest CAGR of 9.0% throughout 2018–2025. Millennials and the generation X in the region seek for performance enhancement programs, which drives the demand for protein supplement products

Key market players-

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