The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
In advent to COVID-19, the consumption of immunity-boosting supplements has been increasing because of which this market is expected to experience a surge in the demand. Moreover, due to lesser consumption of meat and changing lifestyles in the light of the pandemic-it is anticipated that this sector will grow exponentially. This report covers the DRC's of this sector along with the effects of the changing global market dynamics. This report is hereafter segmented by Type, Form and Region to strategically analyse the market developments.
The increasingly busy lifestyles of people have caused a drastic change in their eating patterns. Hence, people prefer packed nutritional foods that can be consumed faster. This is inclusive of protein bars. The rising demand for protein-rich food has further propelled the market growth, this is due to the growing awareness of people with regards to maintaining a healthy lifestyle. Athletes, bodybuilders, and recreational users have been traditional consumers over the past few years.
The total Global Market for Protein supplements is expected to account for a value of USD 20 Billion in 2020 and the market is expected to grow to USD 38 Billion by 2028. The Global Protein supplements market is expected to grow at a CAGR of around 8% during the forecast period. The plant-based protein supplements market is anticipated to expand, due to people switching to veganism to support causes like animal welfare and environmental protection.
With growing consciousness amidst individuals to make healthy life choices and decisions the market for protein supplements is also increasing. Additionally, protein supplements are an adept choice for people who have a busy lifestyle. North America is expected to lead the protein supplements market, Canda and US have been its largest consumers. Moreover, due to growing enthusiasm about fitness amongst youth in countries like Asia and China, the Asia Pacific market is the fastest-growing market globally. Factors such as increased disposable income, rising population, and urbanization are expected to grow the global market.
The study period of the report "Global Protein supplements - Market and Technology Forecast to 2028” is from 2018-2028, and the forecast period of the report is from 2020-2028.
The report is aimed at:
- Key drivers, restraints, and challenges that are expected to curb the global market have been discussed in detail.
- The technological advancements that are expected to bring a change to the market have been covered in the utmost detail.
- The regional segmentation and detailed strategic analysis of the same have been provided in this report.
- Porter’s Five forces and PESTLE Analysis has been performed for the Protein Supplements market.
- The opportunities as well as the high growth markets have been discussed in detail.
- The market has been forecasted from 2020-2028 considering all the key factors that are expected to impact the market.
The market is segmented based on Type, Form and Region:
- Whey Protein
- Egg Protein
- Soy Protein
- RTD Liquid
- Protein Bars
- Animal Based
- North America
- Asia Pacific
- Middle East
- United States
- United Kingdom
- The report's analysis extends up to the forecast period of 2028, therefore it provides a near term and long term futuristic perspective. This section could be of help to the new players in this market who are laying down objectives in order to strategize their objectives.
- The market strategies employed by the key players have been discussed in detail, this could help the potential of this market with gaining a perspective regarding the growth incurred by each segment.
- Industry professionals can use this report to expand their scope of research and further look into lucrative solutions or potential opportunities proposed by this sector that could aid the growth of their existing organisation.
- New players of this market can use this report to study the drives, restraints, and challenges which are expected to shape the global market, as well as the regional market.
- Protein Supplements Manufacturers: The key areas for manufacture and the market demand can be identified through this report
- Governments, Associations, and Industrial Bodies: The financial aspects of this market concerning regional growth and CAGR could be studied by these regulatory boards.
- Investors and Trade Experts: The hot-spots within this market can be identified by them and accordingly financial investments in companies/technologies can be made
- Technological decision Makers: The grey areas of the current technology and the reduction in cost concerning the available product through research can be done with this report.
- Sales sectors: The sales teams of companies can use this report to understand the market and the demographics concerning geography.