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Base Year: 2024
Companies covered: 14
Tables & Figures: 145
Countries covered: 19
Pages: 220
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Protein Powder Market
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Protein Powder Market Size
The global protein powder market was valued at USD 24.6 billion in 2024, with expectations to reach USD 46.2 billion by 2034, growing at a CAGR of 6.8%. Key drivers include rising health awareness & increasing variety of flavors along with high protein content worldwide. There has been an increase in awareness among the present population about the nutritional consumption and its effect on their health. Proteins are the building blocks of muscles, thus becomes crucial for various metabolic activities and immune system.
Also, various lifestyle ailments such as obesity, diabetes and cardiovascular diseases among youths have resulted in expansion of the protein powders market. According to Global Wellness Institute, the global wellness economy has taken a new turn post pandemic with a market size of about USD 6.3 trillion in 2023 which is 6.03% of global GDP. Although the pandemic has adversely affected all the regions worldwide, North America, Europe, and Middle East& North Africa has shown strongest resilience and growth from 2019 to 2023.
Another important growth driver is availability of various flavors with high protein content is contributing to rapid market expansion. In present times, people are constantly searching for readily available foods with high protein content. So, protein powder with multiple taste options acts as a great choice.
Protein powder is not only limited to chocolate or vanilla flavor but it is available in various fruity or savory variants. These factors are contributing to market growth adhering to choices of people yet providing option for convenient protein intake.
Protein Powder Market Trends
According to National Library of Medicine, a large number of new methods of electrophoresis have emerged recently. Spectrophotically, the resolution of two-dimensional electrophoresis or capillary systems is not beaten. The development of techniques for protein transfer between different media is a prerequisite for a full exploitation of the new methods developed. Modern methods of sub microgram sample analysis enable the separation, detection, and characterization of complex mixtures of proteins.
Protein Powder Market Analysis
In 2024, the market was segmented by source into plant based and animal based. Animal-based protein powder segmented for 70% of the market share in 2024 due to presence of complete essential amino acids and rising health consciousness.
In 2024, the protein powder market in distribution channel is primarily distributed in offline and online category. Market is currently dominated by offline stores and markets, holding a significant 65.4% market share, followed by online channels which is rising at rapid pace in comparison and registered 4.5% higher growth than offline stores because of burgeoning quick e-commerce.
In 2024, the application segment of the market is dominated by human nutrition supplement, holding a 63.3% share, while animal nutrition supplement serves a smaller portion of the market.
The U.S. protein powder market was around USD 8.7 Billion in 2024. However, the Asia Pacific protein power market is should witness the highest CAGR which will be driven by the rapid urbanization and rise of disposable income in China & India.
In Europe, an upsurge in vegan and plant-based diets owing to environmental issues, is increasing the demand for plant-based protein powders. At the same time, Asia is urbanizing very quickly, and with rising incomes, there is a big market potential in countries such as China and India as fitness awareness along with balanced diets is increasing.
Protein Powder Market Share
The protein powder industry is booming across the U.S. and Canada and western part of Europe. Top 5 companies in the market include Omega Protein, Amway, Abbott Laboratories, Glanbia Group and GNC Holdings. Among which Wyld is the major company which is well-known for their incredible and tasteful CBD-based candy. In the market, Omega Protein holds the largest share due to its early entry and comprehensive product portfolio. Amway, a close competitor, has been expanding its capabilities, driving its market share growth.
Based on Omega Protein’s leadership in the market, followed by Amway and Abbott Laboratories, all these companies own a substantial section of the protein powder market share owing them massive product portfolios and strategic initiatives.
This company has even begun focusing on non-meat protein solution because there is a growing demand for veg and vegan alternatives. Omega Protein is putting more funds into R&D too, they have also started trying to improve the absorption rates of protein in their formulations to gain an even bigger competitive advantage.
Another key player in the market is Amway, but it focuses on direct selling of selling protein powder products under the brand Nutrilite. Amway focuses on nutrition plans and the use of supplements to improve fulfilment goals from diet and exercise. Amway's aims are balanced as the plans touch both ends of the budget spectrum and with heavy investments in education and marketing their long-term goals for growth in the e-commerce market.
Abbott Laboratories has proved itself as a significant player in the market with its range of nutritional products such as protein powders for varied health conditions and goals. The company has also widened its market presence through mergers and acquisitions to make sure that its products are available to almost every customer.
Protein Powder Market Companies
Some of the eminent market participants operating in the protein powder industry include:
According to Glanbia Plc, which specializes in protein powder, had an earning of USD 1.82 billion as its revenue for 2024. For example, in October 2022, Optimum Nutrition, Glanbia's sports and nutrition brand, added a new product, 100% Gold Standard Plant Protein, which is a plant-based protein powder. The product is entirely plant-based and vegan in nature, has 24 grams of protein, and is beneficial for those engaged in fitness activities. This product was launched to address the growing need for plant-based substitutes in the market.
Furthermore, in November 2022, Glanbia Nutritionals, a subsection of Glanbia PLC, launched their new FerriUp Whey Protein Concentrate, specifically designed for women. This will help them widen their range of products in the woman protein product market.
In June 2021 GNC Holdings, LLC tried to achieve their strategic objectives by forming a partnership with one of the largest multinational retailers, Walmart. Because of this partnership, the GNC Brande was able to increase its presence in the market and GNC products could be ordered at other Walmart retail outlets, which improved sales opportunity fo Walmant. GNC can make use of Walmart’s audience and consumer base, which strengthens his position in the complex differentiated consumer market. In September 2022, Abbott Laboratories expanded its product range by introducing a new specialized supplement for adults containing HMB designed to enhance muscle and immune health called Ensure.
Protein Powder Industry News:
The protein powder market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Billion from 2021 – 2034 for the following segments:
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Market, By Source
Market, By Application
Market, By Distribution Channel
The above information is provided for the following regions and countries: