Protein Supplements Market Forecast, 2021-2026
Protein Supplements Market size was estimated at $18.9 Billion in 2020, projected to grow at a CAGR of 8.9% during the forecast period 2021-2026. The increased proclivity of younger generations, particularly millennials, for balanced meals, high-protein diets and healthy consumption is one of the main factors driving the protein supplement industry's rise. Athletes use protein supplements to help them perform better and recover faster. Dietary changes cause a shift in the gut microbiota, which can be helpful or harmful to the host. Protein is an important micronutrient that helps build muscle, makes enzymes & hormones and repairs tissue. Millennials are far more health-conscious and knowledgeable than previous generations, which has resulted in a huge increase in high-protein diets and nutritional dietary supplement usage. In 2019, over 39% of millennials in the United States consumed protein-based products for the aim of muscle bulking, according to CRN (Council for Responsible Nutrition) estimates. Protein supplement market growth is estimated to be fueled by the desire to meet nutritional needs and improve athletic performance, as well as changing lifestyles. The major constrain is that some protein powders make up a glass of milk in to a drink having more than 1,200 calories leading to excess weight gain and unhealthy spike in blood sugar. Protein supplements are made from both animal source and plant source. DHA, or docosahexaenoic acid, is an omega-3 fatty acid. DHA is abundant in fatty fish such as salmon and anchovies, just like the omega-3 lipid eicosapentaenoic acid (EPA). As the body can only produce a tiny quantity of DHA from other fatty acids, it is needs to be incorporated in to diet or in the form of a protein supplement. Protein supplement market is accelerating owing to the rising demand for protein supplements that contain docosahexaenoic acid in it.
Report Coverage
Key Takeaways
- Protein supplements are prominent among gym goers and fitness enthusiasts since they help with muscle building, metabolism, energy levels, heart health, and weight control, among other things.
- Increased engagement in sports and fitness activities has resulted from rising consumer awareness and a desire to live active and healthy lifestyles, increasing demand for protein supplements.
- Protein Supplements Market expansion is expected to be aided by increasingly growing new product launches with various flavours, high fiber content, is accelerating the market growth.
- For instance, Danone announced the commercial release of its Vega One plant-based protein products in China in May 2020, with the Vega One Sport specifically tailored for athletes. This food combines proteins from a variety of sources, including pumpkin seeds, alfalfa, sunflower, and peas.
Protein Supplements Market Segment Analysis - Drivers
Growing Demand for Protein Supplements Owing to COVID-19 Pandemic:
The COVID-19 epidemic has put a lot of strain on the nutraceutical and functional food industries. Several frontline workers, including physicians, nurses, other medical experts, hygiene workers or sweepers, and others, are working tirelessly to stop the spread of the new coronavirus. To combat the condition, government authorities have urged residents to eat a healthy and nutritious and protein rich diet. This is projected to increase demand for protein supplements that provide the required elements for the body's excellent health like increasing gut microbiota for good gut health and optimal functioning. In addition, beta-lactoglobulin, alpha-lactalbumin, immunoglobulin, and lactoferrin are all bioactive components found in whey protein. Whey protein is also a good source of branched chain amino acids, which are especially beneficial to athletes and those with sarcopenia.
Protein Supplements Market Segment Analysis - Challenges
High Cost of Protein Supplements:
The high cost of Protein supplements and the negative effects associated with them are likely to limit the Protein supplement market's growth. Proteins required for good skin, hair, and nails are all provided by Protein supplements. However, such products frequently include high dosages of vitamins and minerals, which can induce constipation, diarrhea, and other gastrointestinal issues. Allergies may be triggered by the inactive components. Moreover, Long-term protein supplementation is harmful to the gut microbiome and restraining the market growth.
Protein Supplements Market Segment Landscape:
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Protein Supplements Market. Protein Supplements Market top 10 companies are Danone SA, Glanbia plc., True Nutrition, Now Health Group, Inc., Orgain Inc., Nutiva Inc, General Nutrition Centers (GNC) Holdings, Inc., The Simply Good Food Co, Iovate Health Sciences International Inc., MusclePharm Co, Kerry Group Plc., CytoSport, Inc., The Nature's Bounty Co, Reliance Vitamin Company, Inc., Herbalife Nutrition, Inc.
Acquisitions/Product Launches:
- In April 2021, GNC inked a retail distribution arrangement with PlantFuel, a plant-based nutritional supplement company, to deliver its products to over 2,300 GNC stores and the company's website. This includes items like Performance Protein, which has 20 grams of protein, as well as vegan-fermented BCAAs like PeakO2 performance mushrooms and InstAminos, as well as a variety of other plant-based performance supplements.
- Burcon NutraScience Corporation and an investor group formed a joint venture in May 2019 to develop a new C$65 million pea protein and canola protein commercial manufacturing plant in Western Canada. Burcon's Peazac and Peazazz pea proteins, as well as Nutratein, Puratein, and Supertein canola proteins, will be delivered by the plant.
- In 2019, through an exclusive collaboration with Indian firm Smart Brands, Australian company Vitaco's sports nutrition brand Musashi expanded into the Indian Protein Supplement Market. The transaction was intended at importing the firm's hormone-free whey protein supplement products from its New Zealand production plant to meet a rising demand from local authorities for imported whey protein supplements.
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