NEW YORK, Nov. 24, 2021 /PRNewswire/ -- There has been a radical change in the lifestyles of people, especially in developing regions. Improvements in the economic conditions of consumers coupled with rising awareness about health are increasing the demand for food products that are rich in protein and other essential nutrients. In addition, a rise in the number of celebrities and sports personalities encouraging the adoption of a healthy lifestyle is increasing the consumption of protein supplements in the form of shakes, RTD products, tablets, and powder.
Technavio estimates the global protein supplements market to grow by USD 9.45 billion between 2020-2025. However, the growth momentum is expected to decelerate at a CAGR of 7.40% during the forecast period.
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Market Dynamics
Factors such as growing interest in sports and fitness activities and increase in awareness about physical appearance will be crucial in driving the growth of the market. But the presence of counterfeit products will restrict the market growth.
The reduced chances of diseases and improved quality of life will have a positive impact on the growth of vendors. On the other hand, the risk of side effects is expected to reduce the growth potential in the market.
Company Profiles
The protein supplements market report provides complete insights on key vendors including Abbott Laboratories, Amway Corp., Darling Ingredients Inc., Gelita AG, Glanbia Plc, GlaxoSmithKline Plc, Harbin Pharmaceutical Group Co. Ltd., Herbalife Nutrition Ltd., Nestle SA, and PepsiCo Inc.
Competitive Analysis
The report includes the competitive analysis, which analyzes and evaluates the position of companies based on their industry position score and market performance score. Some of the factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Market Segmentation
- By Distribution Channel, the market is classified into retail outlets and online stores
- By Geography, the market is analyzed across North America, Europe, APAC, South America, and MEA.
The market generated maximum revenue in the retail outlets segment in 2020. The segment is driven by the proliferation of supermarkets, hypermarkets, departmental stores, pharmacies, and other stores that offer protein supplements. In terms of geography, North America will have the largest share of the market. The region currently holds 44% of the global market share. The high adoption and penetration of dietary supplements and the rising demand for plant-based protein supplements will drive the growth of the market in North America.
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Plant Based Protein Products Market by Product and Geography - Forecast and Analysis 2021-2025
Protein Supplements Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Decelerate at a CAGR of 7.40% |
Market growth 2021-2025 | USD 9.45 billion |
Market structure | Fragmented |
YoY growth (%) | 9.99 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | North America at 44% |
Key consumer countries | US, China, France, Germany, and Russian Federation |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Abbott Laboratories, Amway Corp., Darling Ingredients Inc., Gelita AG, Glanbia Plc, GlaxoSmithKline Plc, Harbin Pharmaceutical Group Co. Ltd., Herbalife Nutrition Ltd., Nestle SA, and PepsiCo Inc. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
SOURCE Technavio
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