Market Analysis:
The global market for protein supplement has witnessed continued demand during the last few years and is projected to reach 1,247.78 kilo tons by 2023, at a CAGR of 4.56%. Diverse demand of protein supplement across nutraceutical manufacturing industries and sports and nutrition products manufacturers are likely to drive the global protein supplement market. Plant sourced protein supplement is estimated to witness the higher growth rate. High focus on R and D has led to innovations in the protein supplement products which is likely to attract the consumers resulting in higher sale of protein supplements.
Regional Analysis:
By 2023, plant sourced protein supplement will grow with a CAGR of 4.95% during the forecast period 2017-2023. Increase in health awareness has positive impact on the consumption of protein supplement in the developed countries of various region. Protein Supplement is found to be a rich source of calcium and is often fortified with vitamins. These two major factors are supporting its sale amongst the consumers of various regions.
Application of protein supplement in nutraceuticals will continue to dominate the protein supplement market followed by sports and nutrition based application. Nutraceutical based application will hold more than 50% market share and it is projected to grow with a CAGR of 5.14% by 2023. Application in sports and nutrition will witness a growth rate (~4.57%) during forecast period 2017 to 2023. The application of protein supplement in nutraceuticals will witness significant growth in upcoming years due to high nutritional value of the product.
North America will continue to dominate the protein supplement market and it is projected to reach more than 400 kilo tons with CAGR of 5.65% by 2023. Asia-Pacific will witness highest growth rate during forecast period 2017 to 2023 backed up by economy developments. Europe region will witness moderate growth rate in protein supplement market for the same period. Growing popularity of health products and dietary supplements in Europe and North America is driving the market of protein supplement in the region.
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Key Players
The leading market players in the global protein supplement market primarily are Glanbia Plc. (Ireland), Archer Daniels Midland Company (U.S.), GNC Holdings Inc. (U.S.), Herbalife Ltd (U.S.), GlaxoSmithKline Plc. (U.K.), Abbott Laboratories (U.S.), Amway (U.S.)
By Downstream analysis-
By 2023, plant sourced protein supplement will reach more than 500 kilo tons. The easy availability and high protein content of plant based protein in addition to easy processing for protein extraction is supporting the growth of plant based protein supplement in the market.
Application of protein supplement in nutraceuticals holds a lion’s share of the total market share and it is projected to grow at a CAGR of 5.14% by 2023. However, sports nutrition based application will witness the high growth rate (~4.57%) during forecast period 2017 to 2023. By 2023, powder form of protein supplement is projected to hold a major share and is projected to have a significant growth rate backed up by high shelf-life of the product.
Regional Analysis
North America will continue to dominate the protein supplement market with more than 30% market share and it is projected to reach more than 400 kilo tons with CAGR of 5.65% by 2023. Asia-Pacific will witness the highest growth rate (~5.87%) during forecast period 2017 to 2023. Europe region will witness the growth of 2.58% in protein supplement market for the same period. Growing popularity of consumption of dietary supplements imparting necessary nutrients to the body is driving the market growth of protein supplement globally. Increasing health awareness and adoption of healthy lifestyle is playing a key role in the protein supplement market growth from last few years.
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Table of Content:
List of Figures
FIGURE 1 RESEARCH METHODOLOGY 14
FIGURE 2 PRIMARY RESEARCH 15
FIGURE 3 SECONDARY DATA ANALYSIS APPROACH 16
FIGURE 4 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES OF PROTEIN SUPPLEMENT
FIGURE 5 DRIVERS OF PROTEIN SUPPLEMENT S MARKET 18
FIGURE 6 RESTRAINTS OF PROTEIN SUPPLEMENT S MARKET 19
FIGURE 7 GLOBAL PROTEIN SUPPLEMENT MARKET SUPPLY TRENDS AND FORECAST (2017-2023)
FIGURE 8 GLOBAL PROTEIN SUPPLEMENT MARKET DEMAND TRENDS AND FORECAST, BY FUNCTION (2017-2023) 22
FIGURE 9 EMERGING MARKETS (SUPPLY & DEMAND) 23
FIGURE 10 TREND IN EXPORT SHARE OF PROTEIN CONCENTRATES & TEXTURED PROTEIN SUBSTANCES 24
FIGURE 11 TREND IN IMPORT SHARE OF PROTEIN CONCENTRATES & TEXTURED PROTEIN SUBSTANCES 25
FIGURE 12 PATENTS ON PROTEIN-1995-2017
CONTINUED……………………………………………………………………..