PROTEIN SUPPLEMENTS MARKET ANALYSIS

Protein Supplements MarketSize and Trends

The global protein supplements market was valued at US$ 25.54 Bn in 2022 and is forecast to reach a value of US$  46.56  Bn by 2030 at a CAGR of 7.9% between 2023 and 2030. The global protein supplements market is experiencing strong growth due to the rise in demand for protein supplements and growing geriatric population around the world. Moreover, growing participation in sports and fitness activities and increasing demand for sports nutritional supplements and rising demand for vegan and plant-based protein supplements is expected to boost growth of the market. However, factors such as increasing number of product recalls, high cost of protein supplements, and low acceptance rate are expected to hamper the market growth.

Figure 1. Global Protein Supplements Market Share (%), by Region, 2023

Global Protein Supplements Market Trends:

Rise in consumption is a recent trend

There is a huge gap in knowledge and practices on the use of supplements among college students which needs to be bridged and thus, by highlighting gaps in nutritional knowledge, sport nutrition professionals may begin to address these gaps by educating sportsperson, minimizing injuries, and enhancing sport performance. Thus, with the growing participation in sports and fitness activities and increase in awareness, the demand for sports nutritional supplements is also increasing rapidly. This trend is expected to boost the market growth.

High demand for protein bars is another trend

Protein bars can be a good source of calcium, potassium, vitamin B, fibre, and iron. They can also help gain muscle mass and can even promote weight loss. Moreover, protein bars can be a good meal replacement or post-workout snack. Protein has become popular macronutrient among all consumers, including people opting for meal-replacement supplements, like protein bars, athletes looking for competitive edge, and aging population intent on maintaining muscle mass. This trend is also expected to propel the growth of the market.