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New York, Sept. 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Protein Supplements Global Market Report 2022” – https://www.reportlinker.com/p06320084/?utm_source=GNW
, Scitec Nutrition, and BRF.
The global protein supplements market is expected to grow from $16.88 billion in 2021 to $18.60 billion in 2022 at a compound annual growth rate (CAGR) of 10.19%. The protein supplements market is expected to reach $25.59 billion in 2026 at a CAGR of 8.31%.
The protein supplements market consists of sales of protein supplements by entities (organizations, sole traders, and partnerships) that refer to a nutritional supplement that contains protein and is intended to supplement the diet.Protein supplement helps in building muscle, repairing tissue, and producing enzymes and hormones.
It also aids in weight loss and assists in toning of muscles for athletes.
The main types of protein supplements include protein powder, protein bar, and ready-to-drink.Protein powder refers to powdered forms of protein that are derived from plants (soybeans, peas, rice, potatoes, or hemp), eggs, or milk (casein or whey protein).
Other components such as extra sugar, artificial flavors, thickeners, vitamins, and minerals are added to enhance the flavor and functionality of the powder.Based on raw material, the protein supplements are differentiated by casein protein supplements, whey protein supplements, egg protein supplements, MPC protein supplements, and soy protein supplements.
The animal-derived and plant-derived protein supplements are sold through ssupermarkets& hypermarkets, online stores, and drug stores.
North America was the largest region in the protein supplements market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the protein supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The protein supplements market research report is one of a series of new reports that provides protein supplements market statistics, including protein supplements industry global market size, regional shares, competitors with a protein supplements market share, detailed protein supplements market segments, market trends and opportunities, and any further data you may need to thrive in the protein supplements industry. This protein supplements market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The rise in customer preference for food supplements is driving the protein supplements market.Food Supplements are intended to make up for dietary deficiencies among individuals through their regular diet.
The desire to lead active and healthy lifestyles has increased participation in sports and fitness activities, driving the demand for food supplements, especially protein supplements.According to the National Library of Medicine, before the pandemic, dietary supplement sales in the United States climbed by 5% ($345 million) from 2018 to 2019.
However, sales increased by 44% ($435 million) compared to the same period in 2019 in the six weeks before April 5th, 2020, during the first wave of the pandemic. Thus, an increase in customer preference for food supplements is expected to boost the demand for protein supplements during the forecast period.
The strategic partnership is a key trend gaining popularity in the protein supplements market.The companies operating in the protein supplement sector are focusing on entering into strategic partnerships to expand their market reach and leverage each other’s resources in new product development & marketing activities.
In October 2021, a New Jersey-based company that creates collagen supplements entered into a partnership with Entenmann’s, owed by Bimbo Bakeries USA.The partnership aims to create a new collagen protein powder with Entenmann’s chocolate chip cookies as inspiration.
Entenmann is a US-based company that manufactures and delivers baked goods.
In February 2022, Nestle Health Sciences, a Switzerland-based provider of nutrition solutions, diagnostics devices, and drugs for specific target areas acquired a majority stake in Orgain, for an undisclosed amount.Through this, Nestle is focused on expanding its product portfolio in the plant-based protein supplement sector and enhancing its business presence in the fast-growing plant-based product sector across the globe.
Orgain is a California-based provider of plant-based nutritional products.
The countries covered in the protein supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06320084/?utm_source=GNW
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