The global protein powders market is gaining traction due to the increasing number of fitness centers and the rising number of health-conscious people across the globe. With the rising popularity of protein powders among people, especially millennial along with the surging interest in healthy diet and fitness is expected to uplift the demand in the global protein powders market. Besides, increased dependency on health supplements and changing lifestyles is anticipated to fuel the market demand globally within the forecast period.
The significant development in the fitness infrastructure around the world improved athletics, and rising acceptance among the consumers regarding consumption of food supplements are the factors contributing to the growth of the global protein powders market. Supportive government norms and increased disposable income are other factors in the list of growth contributors of the market. However, instability in the costs of raw materials like soybean and milk, due to constraints in supply and demand is likely to hamper the market growth in the future. The costs of proteins extracted through animal sources are seeing a spike, subsequently pushing producers to search for less expensive other options. Then again, plant-based sources like canola, soy, wheat, rice, and pea are getting progressively well known as protein supplements as well.
The COVID-19 pandemic has brought a surged utilization percentage of respondents who consume protein supplements and bars to maintain a healthy lifestyle and better immunity. The purchase of ready-to-drink protein supplements additionally has bolstered significantly post the outbreak of the pandemic.
The global protein powders market is broadly classified into product type, application, and region. In terms of product type, the market is divided into vegetable source proteins and animal source proteins. Moreover, on the basis of application, the global market is divided into children and adults.
Geographically, North America is anticipated to lead the global protein powders market within the forecast period with over half of the market share. The region is likely to retain its position due to rising awareness about health and the benefits of protein supplements. Besides, Europe is estimated to emerge as the second leading position across the globe, attributed to the increasing disposable income among the people in the region. Moreover, Asia Pacific is foreseen to emerge as the most rapidly growing region at a healthy CAGR in the coming years. This is credited to the increased consumption of go-snacking products modernization in the region, especially, in developing nations such as India and China.
The leading players in the global protein powders market are ABH Pharma Inc., Abbott Laboratories, Amway corporation, GlaxoSmithKline Plc, Glambia Plc., General Nutrition Corporation (GNC Holdings Inc.), Maker Nutrition LLC, Herbalife International of America, Inc., Vitaco Health Limited, and Suppleform.
The producers are including egg white proteins in protein bars to provide an improved snacking experience. As cited, Glanbia launched BevEdge technology a few years back that helps remove lecithin from their products. This technology is applicable in several plant and animal-based products, like pea, casein, milk, and whey.
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