Global
Protein Supplements Market: Snapshot
The
rising health consciousness among consumers across the world is
having a tremendous influence over the global market for protein
supplements. Currently, the impact of the augmenting awareness level
among them regarding the benefits of protein is substantially high on
this market and is anticipated to continue driving the growth of this
market over the next few years. The opportunity in the worldwide
market for protein supplement is anticipated to attain a value of
2.20 bn by the end of 2017. Researchers expect the market to further
rise at a CAGR 5.30% between 2017 and 2022, reaching 2.84 bn by 2022.
North
America to Remain Dominant
The
global protein supplements market registers its spread across North
America, Asia Pacific excluding Japan (APEJ), Europe, Japan, and the
Middle East and Africa (MEA). The increasing interest of people in
healthy living and their high disposable income have empowered North
America to take the lead among all the regional markets. Progressing
at a CAGR of 5.30% over the period from 2017 to 2022, the North
America market for protein supplements is projected to remain
attractive in the years to come.
With
consumers capable of purchasing expensive healthcare products, Europe
has held the second position in the global market and it is
anticipates to remain doing so over the next few years. Among others,
Asia Pacific is expected to register an exceptional rise in this
market in the near future. The increasing health consciousness among
people, coupled with the proliferation of health clubs, gymnasiums,
and fitness centers, will propel the Asia Pacific market for protein
supplements over the forthcoming years. The steady rise in the
purchasing power of consumers, especially the middle class ones, is
likely to impel this regional market immensely.
Egg
Protein Supplements to Face Tough Challenge from Soy
Protein
supplements are commonly derived from animal or plant
sources. At present, the demand for animal protein supplements is
relatively higher than their plant-based counterparts. The key types
of protein supplements available across the world are casein, egg,
whey, MPC, and soy. With a share of approximately 38%, egg protein
supplements have been dominating the overall market for protein
supplements. As these egg protein supplements enjoy a wider spectrum
of consumers, analysts expect this segment to continue to lead over
the next few years. The soy protein supplements segment, however, is
likely to present more lucrative growth opportunities for players in
the years to come. The rising trend of veganism is projected to
positively influence this segment. The ease in digestion offered by
soy protein supplements and the presence of low level of cholesterol
and fat in them will also fuel their demand in the near future.
Protein
supplements can be purchased from supermarkets/hypermarkets, drug
stores, convenience stores, and various other distribution channels,
such as online stores. Consumers, until now, prefer to buy from
conventional channels, i.e., supermarkets/hypermarkets, drug stores,
convenience stores; however, with the swift penetration of Internet
and rocketing number of smartphone users, online stores will prove to
be a more profitable distribution channels over the forthcoming
years.
The
worldwide protein supplements market is highly competitive and
fragmented in nature. Some of the key suppliers of protein
supplements across the world are Abbott Laboratories, Glanbia Plc,
GlaxoSmithKline Plc, GNC Holdings Inc., Amway Corp., Vitaco Health
Ltd., ABH Pharma Inc., Atlantic Multipower UK Ltd., Herbalife
International Of America Inc., Makers Nutrition LLC, Nu Skin
Enterprises Inc., Shaklee Corp., USANA Health Sciences Inc., and
Vitacost.com Inc.
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