Robust Growth Predicted for Global Protein Supplements Market

global protein supplements industry researchThe global protein supplements market is projected to reach USD 37.19 billion in 2027, according to a recent report published by Mordor Intelligence titled Protein Supplements Market.

The protein supplements industry has shown remarkable growth over the pandemic years of 2020 and 2021, and the increasing trend of health consciousness among consumers is expected to propel the growth of the market over the next five years. Drawing on extensive research, the report details several key protein supplements market trends, drivers, and challenges to watch.

Market Diversity & Product Innovation Propel Demand

Protein has become a popular macronutrient among various consumers, including athletes looking for a competitive edge, aging seniors who are aiming to maintain muscle mass, and busy parents who are opting for meal-replacement protein bars and shakes, among other consumers.

Specialty diet trends, like paleo, ketogenic, and Whole30, which emphasize the consumption of fats and proteins over carbohydrates and sugar, have compelled many people to assess their protein intake and seek new sources. This factor has further supported the demand for protein supplements across the globe.

As consumers from various backgrounds with different health goals, lifestyles, and values continue to add more protein to their diet, companies have formulated innovative protein supplements and other functional nutrition products with high protein and in multiple flavors to satisfy burgeoning demand.

For instance, in March 2022, MusclePharm, a global provider of leading sports nutrition and lifestyle branded nutritional supplements, announced the launch of a high whey, sugar-free protein drink line (a RTD protein drink) with over 20g of protein in multiple flavors.

Escalated Demand for Sports Nutrition Drives Growth

In a few short years, the sports nutrition market has expanded into one that offers fitness and lifestyle support for consumers of every level of athletic ability, from weekend warriors and amateur athletes to senior citizens and beyond. The growing emphasis on staying healthy and in shape has resulted in the rising participation of customers in sports, health clubs, sports clubs, and gyms.

Most health clubs sell protein supplements, protein bars, energy drinks, and similar sports nutrition products. Some health clubs also hire dieticians to assist consumers with selecting these products. As a result, protein supplements are witnessing an increase in popularity and demand, due to the growing number of health centers and fitness clubs worldwide, as these function as the primary distribution channels for these products.

Increasing Number of Product Recalls Poses a Threat

Government scrutiny in the sports nutrition category, including protein supplements, continues to affect the types of products introduced to the market. The lack of proper guidelines and regulatory framework has resulted in many protein supplements recalls. The recalls are primarily associated with either microbial contamination or not mentioning allergens, such as soy and dairy milk, in the labeling.

For example, in 2022, Natreve, a mission-driven and premium wellness company, voluntarily recalled specific batches of its Vegan Protein Powder French Vanilla Wafer Sundae flavor because it contained trace amounts of undeclared milk due to an external manufacturing production error. The affected products were only sold in the United States, in retail, and online.

Major Players Focus on Product Innovation

According to the report, the major players active in the global protein supplements market include Glanbia PLC, Iovate Health Sciences International Inc., Nestlé SA, and MusclePharm Corporation, among others. The major players in the market have been focused on product innovations to consolidate their positions in the market. The market witnessed 32 product innovations over the last five years.

For instance, in July 2022, Post Holdings Inc., under its Dymatize brand, launched its new plant-based protein supplement named Complete Plant Protein. The product is developed with vegan ingredients, like soy protein, and is claimed to contain 25g of protein in every pack.

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Topics: Food & Beverage Industry Insights