IMARC Group has recently released a new research study titled “Protein Supplements Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global protein supplements market size reached US$ 22.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 36.3 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Protein supplements refer to the essential macronutrient dietary additives, which are derived from various animal and plant-based sources, such as poultry, pea, wheat, dairy, and soybean. They are widely available in bars, powder, and ready-to-drink (RTD) beverage formats. Protein supplements are a rich source of carbohydrates, fiber, and sodium, which assist in recovering from injury, fueling energy, improving metabolism, and promoting muscle growth. As a result, these additives are extensively consumed by bodybuilders and sports athletes to meet specific nutritional goals.
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Market Trends:
The elevating product utilization in sports nutrition and the rising demand for weight management solutions are among the primary factors driving the protein supplements market. Besides this, the growing popularity of gym culture, expanding enrollments, or participation in several fitness activities, including aerobics and yoga, owing to the desire to lead an active and healthy lifestyle, is further augmenting the market growth. Moreover, the shifting inclination of consumers toward clean-label, plant-based protein supplements, on account of the escalating concerns toward animal welfare and the emerging trend of veganism, is also catalyzing the global market. Apart from this, the launch of innovative product variants in various flavors and formats, such as ready-to-drink (RTD), powder, bars, etc., is acting as another significant growth-inducing factor. Additionally, the inflating disposable incomes and the rising consumer expenditure on health and wellness are also stimulating the market growth. Furthermore, aggressive marketing tactics, including the increasing number of celebrity and sports personality endorsements by brands, are expected to bolster the protein supplements market in the coming years.
The report has segmented the market on the basis of type, form, source, application, distribution channel and geography.
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If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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