Protein Supplements Market Size, Share & Trends Analysis Report By Product (Protein Powders, Protein Bars), By Distribution Channel (Supermarkets, Online), By Application, By Source, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global protein supplements market size was valued at USD 5.83 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.0% from 2023 to 2030. The key growth driving factors include the shift toward novel plant-protein sources and increased demand for supplements that aid in faster muscle recovery. A rising number of consumers globally are seeking sustainable, animal-free, and non-GMO sources of protein. For instance, the U.S. has witnessed significant growth in the consumption of plant-based meat, driving the demand for plant-based protein ingredients.

Cereal proteins and oilseed-based proteins are being used in new formulations by several manufacturers. Increasing government support for the plant-based protein industry is also contributing to market growth in North America. For instance, the Government of Canada is focused on commercializing new plant-based ingredients for food, livestock feed, and aquaculture industries. In June 2020, the Canadian Prime Minister announced a USD 100 million grant to an animal protein alternative company, Merit Functional Foods. The funds will be utilized by the company to set up its production plant in Canada.

Furthermore, the application of proteins has increased in the sports nutrition and dietary supplements markets due to the growing demand for fortified ingredients, plant-based protein sources, and products with high stability and longer shelf life. Production methods influence the quality of protein ingredients and the end products, such as protein bars, protein powders, and beverages.

Certain proteins, such as wheat gluten and hemp, are associated with a starchy, bitter, and distinct aroma. The market is undergoing major improvements in manufacturing methods to address this issue and remove tetrahydrocannabinol (THC) from hemp seeds. Applied Food Sciences has improved the method of extracting protein from hemp seeds by including an additional step. Removing the outer shell of the hemp seed results in an ingredient free of the bitter and pungent flavor associated with hemp.

Furthermore, microencapsulation technologies are gaining prominence in the protein supplements industry. Manufacturers use these techniques to achieve the controlled release of an ingredient in the human body. Microencapsulation of active compounds like minerals, vitamins, proteins, and omega-3s protects these compounds from oxidation reactions and loss of nutrients. Spray drying is among the most widely used techniques for encapsulating bioactive food ingredients such as fats, proteins, enzymes, and vitamins.

Source Insights

In terms of source, the animal-based segment held the largest revenue share of 61.1% in 2022. Whey, casein, collagen, and egg are key sources of animal proteins. The demand for animal-based protein supplements is likely to witness significant growth over the next few years owing to their many nutritional benefits. Animal sources have a higher protein concentration and are, therefore, preferred for manufacturing supplements.

The rising demand for high-value proteins is likely to drive market growth. According to Food Innovation Australia, global protein consumption grew by 40% between 2000 and 2018, mainly due to the growing population. Primary demand for animal proteins is expected to originate from regions such as Asia and Sub-Saharan Africa.

Furthermore, innovations by casein producers are likely to support the incorporation of casein in protein supplements. For instance, in February 2021, Lactalis Ingredients launched Pronativ Native Micellar Casein, which is minimally processed with high amino acid content. This casein has a high protein density and supports bone health. According to the company, Pronativ casein is ideal for protein supplements meant for older people and the young population that has been following the healthy aging trend.

The plant-based protein segment is expected to showcase the fastest CAGR of 8.8% during the forecast period. The rising consumer awareness regarding a healthy lifestyle is driving a shift toward new protein sources. Despite the high demand for animal-based proteins, several consumers are switching to a vegan diet owing to concerns regarding animal welfare and the meat industry’s impact on the environment.

As more consumers turn to plant-based proteins, soy protein supplements have showcased immense growth potential. The United Soybean Board (USB) Soy Protein and Flexitarian Study conducted in May 2021 showed that 65% of respondents in the U.S. were more open to eating plant-based foods, with the highest interest among consumers in the age group 18-50.

Moreover, 40% of young adults actively seek to incorporate plant-based proteins into their diet, compared to only 25% of consumers seeking animal protein. According to the same survey, soy was the most preferred plant-based protein ingredient. This presents an opportunity for soy protein supplement manufacturers to capitalize on growing consumer interest and the latest trends in plant-based protein sources such as soy.

Further, the rising usage of wheat and rice in protein supplements is also favoring the growth of the segment.Ingredient manufacturers are launching innovative products in the wheat protein supplements industry and are expanding their reach through business expansions and mergers. For instance, in February 2022, PureField Ingredients, a U.S.-based wheat protein provider, completed the expansion of its facility in Kansas. The increase in capacity will help the company meet the rising demand for wheat protein-based products.

Product Insights

The protein powder segment held the largest share of 56.1% in terms of revenue in 2022. The increasing consciousness toward health has driven the trend of incorporating protein powders into daily diets for weight management, muscle gain, and overall health and wellness. In addition, there is growing product demand from elite athletes, bodybuilders, and casual exercisers. Plant-based protein powders are also gaining popularity, driven by the increasing number of consumers opting for vegan or vegetarian diets.

Many companies are investing in research and development activities to offer innovative protein powder products that cater to consumers’ specific needs and preferences. For instance, the availability of protein powders that are plant-based, lactose-free, or specifically designed for women or athletes has increased in recent years.

In October 2022, Tata Consumer Products (TCP), which consolidates the food and beverage businesses of the Tata Group, expanded into the health supplements segment by introducing ‘Tata GoFit,’ a health supplement range designed specifically for health-conscious women. One of the products in the range is the Tata GoFit plant-protein powder that is simple to mix and contains probiotics beneficial for gut health. The powder is also free from lactose, soy, and added sugar.

As the market for protein powders grows, competition among manufacturers will increase, leading to a reduction in product prices, making them more accessible and affordable for a broader range of consumers. Strong online sales and mass distribution channels by companies such as The Nature's Bounty Co., Glanbia, and Iovate Health Sciences International Inc. have also increased the availability of protein powders.

In terms of end-user, the ready-to-drink (RTD) segment showcased the fastest growth and is projected to grow with a CAGR of 8.5% during the forecast period. The increasing demand for sports nutritional supplements and the growing popularity of easily consumable and readily available protein supplements are expected to drive the demand for RTD protein supplements over the forecast period.

In March 2022, MusclePharm Corporation, a global leader in sports nutrition products, announced its plan to expand in the RTD protein category by launching a new line of whey protein drinks in the summer of 2022. This high-protein beverage line was marketed under the well-established MusclePharm brand, offering more than 20g of protein per serving in various flavors.

Application Insights

The functional food segment held a market share of 35.3% in terms of revenue in 2022. Increasing awareness regarding leading a healthy and active lifestyle, coupled with a growing understanding of the relationship between exercising and maintaining a balanced and nutrient-rich diet, is driving the demand for protein-rich functional foods and beverages.

Functional foods are primarily consumed to ensure the intake of nutritional constituents essential for the human body. Rising occurrences of cardiovascular diseases owing to inactive and slow lifestyles and fluctuating dietary patterns, especially between the ages of 30 and 40, have driven consumer awareness regarding the importance of omega-3-based nutraceutical products, boosting their adoption.

The sports nutrition segment is anticipated to grow at the fastest CAGR of 8.2% during the forecast period. The increasing demand for sports nutritional supplements for core strength and endurance among athletes, weekend warriors, fitness enthusiasts, and professional athletes is expected to drive the segment. In addition, an increase in the number of gym-goers and rising demand for sports nutritional supplements to promote lean muscle growth, improve performance, assist in weight reduction, and boost stamina are expected to propel the segment growth.

Whey proteins exhibit prebiotic, antimicrobial, antioxidant, and hypertensive properties. In sports nutrition, protein supplements are used to manufacture various products such as low-pH clear beverages, nutritional beverages, RTD protein shakes, and dry mix beverages. All grades of whey proteins including concentrates, isolates, and hydrolysates have an excellent digestibility and amino acid profile. However, since hydrolyzed whey proteins are more expensive than their counterparts, most whey supplement manufacturers add a very small quantity of this ingredient to their respective formulas.

Distribution Channel Insights

The online stores segment held the largest share of 60.4% in terms of revenue in 2022. The sales of protein supplements through the online distribution channel are expected to witness the highest growth in the coming years. Increased number of internet users, ease of access to numerous brands, fast-paced consumer lifestyle, 24/7 availability of products, convenience of shopping, and a wide range of products offered are factors driving the sales of protein supplements through online distribution channels.

The benefits to customers, including comparison in price range and the availability of numerous brands with customer reviews for the products, further drive the sales of supplements through this channel. Moreover, the presence of different discussion portals, discounts and offers, easy payment options, and various promotion strategies are projected to fuel the online sales of protein supplements over the forecast period.

The supermarket segment is anticipated to grow at the fastest CAGR of 8.3% during the forecast period. Supermarkets and hypermarkets conduct detailed consumer sentiment analyses to understand customer preferences for products and brands. This allows them to offer products that are most preferred by consumers and charge a premium price if customers are willing to pay for them.

Supermarkets are easily accessible and provide a convenient shopping experience for customers. They offer a variety of protein supplement options under one roof, making it convenient for customers to compare and choose the products that best meet their needs. Customers tend to trust established brands, and supermarkets and hypermarkets offer a wide selection of reputable brands in the protein supplements industry. This builds customer confidence in the products being sold and can lead to repeat purchases.

Regional Insights

The North America region held the dominant revenue share of 41.4% in 2022. The increasing interest of young and adult consumers in health and wellness trends is driving growth in the protein supplements industry. Consumers are becoming more conscious of their health and are willing to invest in products that can help them maintain or improve their overall well-being. As a result, the protein supplements industry is expected to continue growing in North America in the years to come. The high prevalence of lifestyle diseases, such as diabetes and obesity, is driving demand for products that can help manage these conditions. Protein supplements are often recommended as part of a healthy diet for individuals with these conditions.

Furthermore, the U.S. protein supplements industry is expected to showcase a significant CAGR of 7.8% over the forecast period. The increasing obesity rate in the U.S. has contributed to the growth of the protein supplement industry. With the rising awareness of the importance of a healthy diet and regular exercise, the trend of fitness has become increasingly popular in recent years.

The Asia Pacific protein supplement market is expected to grow at the fastest CAGR of 8.8% from 2023 to 2030. The demand for protein supplements in Asia Pacific has been steadily increasing over the years. This can be attributed to several factors, such as the rising interest in health and fitness, growing awareness about the importance of protein intake, and the increasing prevalence of lifestyle diseases. The Asia Pacific region has a large and diverse population, with a significant portion being vegetarian or vegan. This has led to a higher demand for plant-based protein supplements such as soy protein, pea protein, and rice protein. These supplements are popular among consumers with dietary restrictions and among those who prefer plant-based options.

The Europe region is expected to witness a CAGR of 7.3% over the forecast period. The Europe market is expected to showcase reasonable growth over the forecast period owing to various factors, such as increasing emphasis on healthy living, growing trend of preventive health care, and rising demand for protein supplements from countries such as the UK and Germany.

Key Companies & Market Share Insights

The global protein supplements industry is characterized by intense competition, mainly attributed to several players operating in the market. Various companies operating in the market are presenting innovative products to cater to consumer demand. For example, in October 2022, Optimum Nutrition, a sports nutrition brand of Glanbia, launched a new plant-based protein powder called Gold Standard 100% Plant Protein. The formula is made with 100% vegan ingredients and contains 24 grams of protein to support fitness activities. The launch is in response to the growing trend of plant-based alternatives in the market. Some prominent market players in the global protein supplements market include:

• Glanbia Plc

• MusclePharm

• Abbott

• CytoSport Inc.

• QuestNutrition LLC

• Iovate Health Sciences International Inc

• The Bountiful Company

• AMCO Proteins

• Now Foods

• Transparent Labs

• WOODBOLT DISTRIBUTION LLC

• Dymatize Enterprises LLC

• BPI Sports

• Jym-Supplement-Science

• RSP Nutrition

• International Dehydrated Foods, Inc

• BRF

• Rousselot

• Gelita AG

• Hoogwegt

Protein Supplements Market Report Scope

Global Protein Supplements Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global protein supplements market report based on source, product, application, distribution channel, and region:

• Source Outlook (Revenue, USD Million, 2017 - 2030)

  • Animal-based Protein Supplements

    • Whey

    • Casein

    • Egg

    • Fish

    • Others

  • Plant-based Protein Supplements

    • Soy

    • Spirulina

    • Pumpkin Seeds

    • Wheat

    • Hemp

    • Rice

    • Pea

    • Others

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Protein Powders

  • Protein Bars

  • RTD

  • Others

• Application Outlook (Revenue, USD Million; 2017 - 2030)

  • Sports Nutrition

  • Functional Foods

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

  • Supermarkets

  • Online

  • DTC

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • UAE