Meticulous Research®, a leading global market research company, has published a comprehensive report titled "Protein Supplements Market Size, Share, Forecast, & Trends Analysis by Product (Powder, RTD, Bar), Source (Animal-based {Whey}, Plant-based {Soy}), Application (Sports Nutrition), Distribution Channel (Online, Specialty Stores) - Global Forecast to 2031."

According to this report, the global protein supplements market is expected to reach $43.17 billion by 2031, growing at a CAGR of 8.8% during the forecast period from 2024 to 2031. This market growth is primarily driven by the increasing demand for sports nutrition supplements, a rising interest in plant-based nutrition, greater consumer awareness regarding health and wellness, and continued innovation in protein supplement products. Additionally, the growing demand for personalized nutrition and the expansion into emerging economies are expected to create significant opportunities for market players. The market is also influenced by the increasing trend of online purchases and the rising popularity of vegan protein supplements.

However, challenges such as the threat of counterfeit products and misconceptions about protein supplement consumption are expected to hinder market growth to some extent.

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Market Segmentation
The protein supplements market is segmented by product type, source, application, and geography:
• By Product: The market is divided into protein powder, ready-to-drink (RTD) products, protein bars, and others. In 2024, the protein powder segment is expected to hold the largest share, at 63.8%, of the protein supplements market. This dominance is due to the high adoption of protein powder supplements, which are easy to handle, cost-efficient, and contain fewer additional ingredients like sugar and preservatives. The growing consumer preference for plant-based protein powders is also expected to drive demand in this segment.

• By Source: The market is categorized into animal-based, plant-based, spirulina protein, and others. The plant-based segment is projected to register the highest CAGR during the forecast period, driven by increasing consumer interest in plant-based nutrition, a growing vegan and vegetarian population, rising lactose intolerance, and ongoing product innovations.

• By Application: The market is segmented into sports nutrition and additional nutrition. In 2024, the sports nutrition segment is expected to account for the largest share of the protein supplements market, driven by growing demand from athletes, bodybuilders, and fitness enthusiasts. This segment is also projected to achieve a higher CAGR during the forecast period, as more individuals become aware of the benefits of a balanced, nutrient-rich diet and the role protein supplements play in weight management and muscle growth.

• By Geography: The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is expected to register the highest CAGR, at 9.4%, during the forecast period. This growth is attributed to rising disposable incomes, population growth, urbanization, and the increasing popularity of fitness and sports activities in the region. Additionally, growing consumer awareness of the health benefits of high-protein diets, changing dietary patterns, and the expanding accessibility of protein supplements through e-commerce platforms, particularly in China and India, are expected to further support the market's growth.

Quick Buy – Protein Supplements Market - Global Opportunity Analysis and Industry Forecast (2024-2031), Research Report: https://www.meticulousresearch.com/Checkout/24246444

Key Players
Major players in the protein supplements market include Glanbia plc (Ireland), The Simply Good Foods Company (U.S.), Iovate Health Sciences International Inc. (Canada), Amway Corporation (U.S.), PepsiCo, Inc. (U.S.), THG PLC (U.K.), Mondelēz International, Inc. (U.S.), Herbalife Ltd. (U.S.), NOW Health Group, Inc. (U.S.), Meiji Holdings Co., Ltd. (Japan), Woodbolt Distribution, LLC (U.S.), FitLife Brands, Inc. (U.S.), Orgain, Inc. (U.S.), and Post Holdings, Inc. (U.S.).

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