Market Overview: —
Protein supplements are products intended to provide additional nutritional value to the diet. It enhances the physical fitness and performance by improving the metabolism. With increasing consumer awareness, growing consumer’s concern about health & wellness and better understanding of human nutrition have led to the improved management of protein intake. Protein supplements not only helps in muscle building or gaining strength but it also prevents future diseases and improves sports performance. Protein supplements are majorly used by athletes, bodybuilders and people who attend commercial gyms for strength building and enhance the athletic performance.
With increasing urbanization along with consumer’s preference to lead a healthy lifestyle, consumer’s engaging in personalized nutrition, growing concern about weight management and fitness, and rising number of fitness centers and health clubs has boasted the growth of protein supplements market. The integration and consolidation of pharmaceutical, food and technology companies has given birth to new product developments with better functionality. The trend of digital health and innovations in form of health tracking apps and wearable devices has allowed the consumer to analyze and track their own wellbeing. Also, the increasing women participation in resistance training and strength building activities has led to increasing consumption of protein supplements.
The key industrial players focused on investments, new product development and better marketing strategies. The market players are promoting updated educational programs and the integration of nutrition courses with health clubs. Globally, Protein Supplements Market is growing at the rate of 8% during 2016 to 2022.
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Key Players and Competitive Analysis:
The major key players in Protein Supplements market are
• NBTY, Inc. (U.S.)
• MaxiNutrition (U.K.)
• Glanbia Plc (Ireland)
• GNC Holdings, Inc. (U.S.)
• Universal Nutrition (U.S.)
• Creative Edge Nutrition, Inc. (U.S.)
• Herbalife, Ltd. (U.S.)
• Atlantic Grupa d.d. (Croatia)
Global Protein Supplements market is highly concentrated in North American and European region whereas Asia-Pacific region is expected to grow at the highest CAGR in next 5 years owing to growing urbanization, increasing consumer’s health awareness and huge demand of high quality Protein Supplements. Protein Supplements manufacturers are focusing on expanding their product line by providing large variety of flavors and other innovative products.
Globally the Protein Supplements Market is mainly driven by increasing health awareness & consumer’s interest in fitness, wellness & weight management, increasing incidence of diseases such as cancer leading consumers to look for balanced diet, trend of consumers being conscious of their looks and women being ‘strong not skinny’ along with other factors such as growing sports nutrition industry ensured the growth of Protein Supplements market. The key players are expanding their processing units in developing regions and emerging countries such as India, China and Brazil to gain huge consumer base worldwide. Increasing demand of natural, free-from and clean labelled products is also supporting the market growth and industrial players are focusing on new product development with innovations and in terms of flavor technology and improvement in functional attributes of Protein Supplements.
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The Protein Supplements are in demand from the health food stores, functional beverages, fitness clubs, pharmacies & drug stores, and other industries. Rising popularity of fortified food & beverages and increasing purchasing power of consumer due to rising disposable income in developing countries like India and China is fueling the growth of Protein Supplements market. Availability of different forms of Protein Supplements has allowed consumers to make a rational choice as per their taste. Protein Supplements is also used in production of high quality animal feed which contains more nutritional value. Key manufacturers of Protein Supplements are doing R&D activities to offer products with improved functionality.
The Global Protein Supplements Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these North American region has the major market share. Protein Supplements is largely consumed in countries in developed countries like U.S., Canada, Germany, U.K. and Italy. Indian and Chinese protein supplements market hold great potential and ample opportunities to grow in next 5 years owing to growing health awareness, growing urbanization with consumers being more concerned about fitness and weight management.
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