Protein Supplements Market Size 2024-2028: Industry Growth, Trends, and Insights

The protein supplements market is projected to grow by USD 12.9 billion at a CAGR of 8.89% from 2023 to 2028. This growth is driven by several key factors, including the rising interest in sports and fitness, as well as the increasing awareness around health and wellness. Additionally, the trend towards vegetarianism and the demand for plant-based proteins are propelling market expansion. As consumers focus on improving their quality of life through nutrition, the protein supplements industry is positioned for sustained growth.

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Protein Supplements Market Segmentation

The market research provides comprehensive data with forecasts and estimates in USD Billion for the period 2024-2028, along with historical data from 2018-2022. Key market segments include:

Source Outlook

• Animal-based
• Plant-based

Distribution Channel Outlook

• Retail outlets
• Online stores

Regional Market:

The protein supplements market is witnessing significant growth across various regions. Key markets include:

• North America

  • The U.S.
  • Canada

• Europe

  • U.K.
  • Germany
  • France
  • Rest of Europe

• Rest of World (ROW)

  • Brazil
  • Argentina
  • Australia

• APAC

  • China
  • India

Market Dynamics - Drivers, Trends, and Challenges

Key Market Drivers

The growing interest in sports and fitness activities is a major driver of protein supplement consumption. Fitness-conscious individuals, athletes, and fitness center enthusiasts are increasingly turning to protein supplements to support muscle recovery and enhance performance.

Significant Market Trends

Celebrity endorsements and social media promotions are a growing trend influencing the market. Popular athletes, such as Michael Jordan and Zlatan Ibrahimovic, play a significant role in promoting protein supplements. Furthermore, meal replacement protein bars are emerging as a convenient and nutritious option for individuals with busy lifestyles.

Upcoming Market Trends

The rising trend of meal replacement protein bars offers consumers a portable and easy way to meet their protein needs while maintaining a healthy diet.

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Major Market Challenge

The presence of counterfeit products is a significant challenge facing the protein supplements market. Counterfeit products can pose health risks to consumers, especially when inferior ingredients are used. This has resulted in health and regulatory concerns, particularly in the United States and South Korea, where tests revealed harmful chemicals in popular supplements.

Key Players in the Protein Supplements Market

Several leading companies are driving innovation and shaping the competitive landscape of the protein supplements market:

• Abbott Laboratories
• Amway Corp.
• BioTech USA Korlatolt Felelossegu Tarsasag
• Darling Ingredients Inc.
• Gelita AG
• Glanbia plc
• GlaxoSmithKline Plc
• Herbalife International of America Inc.
• Iovate Health Sciences International Inc.
• Makers Nutrition
• Meiji Holdings Co. Ltd.
• Nestle SA
• NOW Health Group Inc.
• PepsiCo Inc.
• Post Holdings Inc.
• Purus Labs

Future Market Insights

The protein supplements market is expected to continue its upward trajectory, driven by innovations in product formulations, increased consumer interest in health and fitness, and the demand for sustainable, plant-based alternatives. As the market diversifies, companies that embrace clean label products and cater to specific dietary preferences are likely to capture a significant share of the growing market.

By 2028, the protein supplements market is anticipated to have expanded significantly, with North America leading the charge, followed by growing markets in Europe and APAC.