PROTEIN SUPPLEMENTS MARKET ANALYSIS

Market Challenges And Opportunities

Global Protein Supplements Market Drivers:

High demand for protein supplements to augment market growth

One of the key factors expected to augment the growth of the global protein supplements market over the forecast period is the increase in demand for protein supplements worldwide. For instance, with the increasing awareness among people about health and wellness and increasing emphasis on healthy lifestyle, the demand for protein supplements is also increasing with the rapid pace. In May 2022, Soulfuel launched Soulfuel protein powder focused on strengthening gut with a novel blend of post-biotic with brand name Epicor, prebiotic Inulin, and digestive enzymes. Soulfuel helps increase protein absorption and muscle strength along with boosting immunity with a natural immunizer called 1,3/1,6 beta-glucan.  

Growing geriatric population to underpin market growth

Another factor which is driving the growth of the global protein supplements market is the rise in geriatric (aging) population around the world. For instance, protein supplements are increasingly used by older people to maintain nutrition and prevent or treat loss of muscle function. Thus, with the growing geriatric population, the demand for protein supplements is also increasing. According to the World Health Organization (WHO), by 2030, one in six people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion). This in turn is expected to drive market growth.

Global Protein Supplements Market Opportunities:

Growing participation in sports and fitness activities and increasing demand for sports nutritional supplements is expected to offer significant growth opportunities for players in the global protein supplements market. For instance, sports supplements promote lean muscle growth, boost stamina, improve performance, and assist in weight reduction. In March 2022, MusclePharm, a provider of sports nutrition and lifestyle branded nutritional supplements, announced the launch of high whey protein drink line (Ready-To-Drink protein drink) with over 20g of protein, in multiple, sugar-free flavors, expanding into the ready-to-drink protein category.

Rising demand for vegan and plant-based protein supplements is expected to offer lucrative growth opportunities for players in the global protein supplements market. For instance, rising awareness about animal welfare and environmental sustainability push consumers toward plant-based diets, and evolving perception of consumers that plant-based products are safer and healthier increases demand for plant-based protein supplements. In May 2022, SternLife and SternVitamin announced the launch of vegan protein bars, water-soluble powder supplements, and micronutrient premixes to improve immune health as well as mental performance.

Global Protein Supplements Market Restraints:

Product recalls to hinder growth of the market

One of the key factors expected to hamper the growth of the global protein supplements market is the increasing number of product recalls. The lack of proper guidelines and regulatory framework has resulted in many protein supplements recalls. The recalls are primarily associated with either microbial contamination or not mentioning allergens on the labeling. Due to such incidents, there is an ongoing consumer concern associated with the safety of supplement, which in turn is expected to hamper the growth of the protein supplements market.

High cost and low acceptance to hamper market growth

Another factor which is hampering the growth of the global protein supplements market is the high cost of protein supplements and low acceptance rate in developing countries. For instance, protein deficiency is a significant public health concern and authentic as well as safe protein supplements are scarcely available in developing countries. However, high cost of protein supplements and lack of awareness among people about protein deficiency is hampering demand for protein supplements in developing countries. This in turn is restraining the market growth.