Protein Supplements Market 2020 | Analyzing The COVID-19 Impact Followed By Restraints, Opportunities And Projected Developments – Cole of Duty

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Protein Supplements market.

Trusted Business Insights presents an updated and Latest Study on Protein Supplements Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Protein Supplements market during the forecast period (2019-2029).It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Industry Insights, Market Size, CAGR, High-Level Analysis: Protein Supplements Market

The global protein supplements market size was estimated at USD 17.55 billion in 2019, and is expected to expand at a CAGR of 8.0 % during the forecast period, driven by increase in health and fitness centers and consumer health consciousness. Increasing popularity among millennials along with development of innovative protein-based supplements in different forms, coupled with numerous health benefits of the product are some of the major factors driving the growth. Furthermore,positive outlook toward sports nutrition on account of increasing importance of active lifestyle along with rising awareness regarding health benefits of protein is expected to play a crucial role in promoting the use of the supplements.Factors, such as hectic lifestyle and rising health consciousness are anticipated to boost the overall market growth. In addition, growing functional advantages including muscle repair, energy boost, and weight loss are projected to further fuel the demand. Rising usage of snack-based meal replacements and demand for greater ingredient traceability and authenticity are other factors likely to augment the demand for protein supplements in near future.

Various socio-economic factors, including rising disposable income, urbanization, and aging population, are anticipated to positively impact the product demand. In addition, growing concerns regarding obesity, preference for vegan protein sources due to rising veganism, along with rising spending on health-related products is projected to fuel the product demand in near future. Rising penetration of organized retail and e-retailing is expected to further boost the demand in the forthcoming years.A significant rise in gym subscriptions, especially in Asia Pacific along with rising awareness regarding health and fitness among millennials, primarily backed by their robust disposable income is anticipated to further drive the demand for protein supplements. Along with physical activity, millennials prefer including protein powder in the diet. This trend is expected to positively influence the market growth over the forecast period. Rising consumption of packaged nutritional food products such as protein bars and Ready to Drink (RTD) products. Introduction of healthy products by various manufacturers is anticipated to further drive the growth of the market.

Product Insights of Protein Supplements Market

The protein powder segment held around 64.0% of the protein supplements market in terms of revenue in 2019. Factors such as the strong online sales, mass distribution channels, and increasing number of standalone mass facing brands by various companies, such as Glanbia, NBTY, and IOVATE are expected to drive the growth. Rising demand from body builders, elite athletes, and casual exercisers is anticipated to further propel the growth of the segment in the forthcoming years.The RTD segment is anticipated to register the fastest growth in terms of revenue from 2020 to 2027. Ready to drink protein supplements are pre-formulated drinks that are easily available. These drinks offer a high dose of protein that can consumed pre-workout, post-workout, or on the go. These products are easily absorbed by the body, they promote muscle recovery, and aid in lean muscle growth. The increasing demand for sports nutritional supplements coupled with rising demand for easy and readily available supplementation is expected to fuel the growth over the forecast period.

Application Insights of Protein Supplements Market

Sports nutrition segment held around 66.8% of the overall market share in terms of revenue in 2019. Increasing demand for sport nutritional supplements from core, strength, endurance athletes, weekend warriors, fitness enthusiasts, and professional athletes is expected to drive the demand. In addition, growing demand for sports nutritional supplementation to promote lean muscle growth, improve performance, stamina, and weight loss is projected to drive the growth.The functional food segment is projected to hold a significant market share over the forecast period. The increasing efforts to lead a healthy and active lifestyle coupled with the growing understanding about the link between exercising and maintaining a balanced and nutrient rich diet is driving the demand for protein-rich functional foods and beverages.Distribution Channel InsightsOnline stores segment held around 59.5% of the overall market share in 2019. The increasing number of internet users, ease of access, 24/7 availability, and lots of options to choose from are the factors driving online sales. Moreover, discussion portals, discounts and offers on products, and implementation of various promotion strategies will fuel online sales over the forecast period.Consumers can save money while purchasing products of their choice online within their range of budget without compromising on content, brand, and quality. Trust of consumers plays a crucial role in determining demand for a specific product, wherein the customer orders are largely reckoned through websites such as amazon, Walmart, and eBay, wherein these e-commerce focus on having a brand follow ups on regular basis.Direct to Customer (DTC) held a significant revenue share in 2019. DTC channel involves direct marketing aimed at the end consumers, companies are developing user friendly and specialized websites to market their products without the need for any third-party distribution. Major companies including Glanbia, Quest Nutrition, IOVATE, Amway, and NBTY and investing in direct to consumer channels to expand their consumer base and to extend their reach to other regions. Major retailers in U.S., including Walmart, are moving into this industry and are investing in private label varieties to promote the sale of products.Retail sale is expected to witness slower growth over the forecast period owing to strong competition from other distribution channels, such as online stores and DTC channels.Source InsightsAnimal-based segment held around 67.9% of the overall market share in terms of revenue in 2019. It consists of meat and dairy proteins including whey, casein, egg, beef, poultry, and fish. Animal based products are complete sources owing to the presence of all the essential amino acids. Milk and egg proteins are the most consumed animal based products. In addition, the presence of various nutrients including vitamin B12, vitamin D, docosahexaenoic acid (DHA), heme-iron, and zinc makes animal-based products the preferred source. Hence, the segment is anticipated to drive growth of the overall market during the forecast period.

Plant-based product segment is anticipated to witness the fastest growth over the forecast period, owing to the growing popularity among vegans, vegetarians, and people allergic to dairy and egg proteins. Plant-based products consists of proteins derived from various sources, such as soy, peas, hemp, wheat, rice, quinoa, canola, cranberry, pumpkin, potato, flax and oat. Among these sources, soy and pea were some of the dominant segments. However, plant based products are not considered to be complete sources, owing to the lack of one or more essential amino acids. So various plant based products are often blended together to account for all the essential nutrients.

Regional Insights of Protein Supplements Market

North America emerged as the largest regional market in 2019 with a share of 50.3% in terms of revenue and is expected to retain its pole position throughout the forecast period. Led by countries, such as U.S. and Canada, the regional market has been witnessing a surge in demand for sports nutritional supplements. From a raw material sourcing standpoint, key players operating in the region have been benefiting from an abundant supply of raw materials, thereby facilitating large scale production across the region.Asia Pacific is expected to expand at the fastest CAGR of 8.6% over the forecast period. Increasing consumer focus on preventive healthcare, shifting consumption patterns, westernization of diet, and increasing cost of public health care systems are some of the factors contributing to the regional market growth.In addition, factors such as the rising middle-class population and penetration of organized retail are anticipated fuel the demand for protein supplements in the forthcoming years. However, in Australia, the Therapeutic Goods Administration has proposed reclassification of the supplements as a therapeutic good or medicine from 2020. This development is expected to hamper the current growth in the country, which in turn expected to negatively impact the regional market growth.

Market Share Insights of Protein Supplements Market

The market is exceptionally aggressive with organizations undertaking activities including regular mergers, acquisitions, and capital extensions. Established players are concentrating on expanding their overall market share alongside productivity through technological innovation. Numerous global and regional players are currently operating in the market. Key protein supplement manufacturers are implementing various growth strategies to keep up with the rising demand for sports nutritional supplements from various consumers including athletes, fitness enthusiasts, and everyday people seeking active and healthier lifestyles.In October 2018, Glanbia plc acquired SlimFast one of the leading weight management and health and wellness brand manufacturing ready to mix powders, ready to drink products, and gluten free meal replacement shakes to name a few. This transition complements Glanbia Plc existing portfolio by targeting lifestyle consumers. It will also help the global consumer trends focused on convenient formats and snacking.Most major players currently hold a strong position, which is likely to pose as a barrier for new entrants. However, technological breakthrough and research expertise are likely to improve the chances of new entrants. Distribution and sales locations are other beneficial factors helping the companies enhance their overall market positioning. Prominent players have set up distribution networks for product supply in developing regions including Central and South America and Asia Pacific, owing to increasing demand from these regions.The market is dominated by major players, such as Glanbia Plc, AMCO Proteins, Quest Nutrition, NOW Foods, NBTY, MusclePharm Corp, Abbot Laboratories, Cyto Sport, IOVATE, and Transparent Labs.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Protein Supplements Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global protein supplements market report on the basis of source, product, distribution channels, application, and region:

Source Outlook (Revenue, USD Million, 2019 2030)

Animal-based

Whey

Casein

Egg

Fish

Others

Plant-based

Soy

Spirulina

Pumpkin Seed

Hemp

Rice

Pea

Others

Product Outlook (Revenue, USD Million, 2019 2030)

Protein Powder

Protein Bars

Ready to Drink

Others

Distribution Channel Outlook (Revenue, USD Million, 2019 2030)

Supermarkets

Online Stores

Direct to Customers (DTC)

Others

Application Outlook (Revenue, USD Million, 2019 2030)

Sports Nutrition

Functional Food

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Protein Supplements Market 2020 | Analyzing The COVID-19 Impact Followed By Restraints, Opportunities And Projected Developments - Cole of Duty