The
Protein
Supplements Market was
worth USD 1.67 billion in the year 2014 and is expected to reach approximately
USD 2.72 billion by 2023, while registering itself at a compound annual growth
rate (CAGR) of 5.59% during the forecast period. The market is segmented into Raw Material, Source, Product,
Distribution Channel and Application. In terms of raw material the market is
segmented into Pea, Casein, Whey and Soy. On the basis of source the market is
segmented into Plant-based and Animal-based. On the basis of distribution
channel the market is segmented into online stores, DTC and supermarkets. On
the basis of product the market is segmented into RTD, Protein Powders and
Protein Bars. In terms of application the market is segmented into functional
food and sports nutrition.
Whey was the dominant raw material
segment in 2016
Whey
was the predominant raw material fragment and represented 56.6 percent of the
general profit in 2016. The variables adding to the section development
incorporate expanded selection of the product to maintain and build muscle
mass, building muscle strength in response to endurance & strength
training, and enhancing the recovery of athletes from heavy exercises.
In 2016 animal-based protein was the dominant
segment
By
source, animal-based protein was the ruling portion and represented 68.9
percent of the general market revenue in 2016 because of its convenient
accessibility, high rate of assimilation, and the existence of a few
supplements including vitamin D, vitamin B12, DHA, zinc and Heme-iron.
Protein powder was the most favored
product segment in 2016
In
2016 Protein powder was the most favored product fragment and represented 64.5
percent of the general income. Protein powder is foreseen to encounter
considerable development and remain the overwhelming product portion over the
conjecture time frame. Increasing mass distribution channels, strong online
sales, and expanding number of standalone mass facing brands by different
organizations.
In 2016 Sports nutrition was the
largest and fastest developing application segment
Sports
nutrition was the biggest and quickest developing application portion and
represented roughly 75 percent of the general market income in 2016. The
expanding interest for sports nutritional supplements from nations including
Canada, the United States, Germany, United Kingdom, Italy, and India is
foreseen to boost the demand over the figure time frame.
The
leading players in the market are NOW Foods, Quest Nutrition, IOVATE, GNC, NBTY
and AMCO. The key market players have set up their appropriation systems for
the supply of items in creating areas including Focal and South America and
Asia Pacific inferable from the rising demand from these areas.
