Top Opportunities In Protein Supplements
Tuesday, January 2nd, 2018 | 193 Views
The global protein supplements market is expected to reach US$21.5 billion by 2025, growing at a compound annual growth rate (CAGR) of 6.3 percent from 2017 to 2025, according to market intelligence agency Grand View Research Incorporated.
The growing demand for sport nutritional supplements and rising health awareness is expected to drive the industry growth and creates opportunity for manufacturers in the sector.
Factors such as increasing demand for supplements and natural prevention of health-related issues, rising usage of snack-based meal replacements, and growing consumer demand for greater ingredient traceability and authenticity are all expected to augment the industry size.
Rising awareness about the benefits of including healthy diet and exercise, and the growing demand for higher protein density in mainstream diet is expected to create immense market potential.
Soy proteins are expected to witness steady growth at a CAGR of 5.8 percent from 2017 to 2025, owing to its low cost and rising usage in functional foods.
Plant-based products are projected to display fastest growth at a predicted CAGR of 7.9 percent during the forecast period, due to various health benefits offered which includes lower risk of heart disease, reduced risk of type 2 diabetes, and protection against weight gain.
On the basis of product segment, protein powders held the largest market share in 2016 and accounted for 64.5 percent of the overall market, due to an increase in the demand for these products from athletes, bodybuilders, and casual exercisers.
The ready-to-drink product segment is expected to witness the fastest growth at a CAGR of seven percent during the forecast period on account of rising demand for sports nutritional supplements coupled with easy and readily available supplements.
In terms of revenue, the protein bar segment was valued at US$1.44 billion in 2016 and is projected to display growth on account of growing consumer inclination toward healthy snacking including protein and bite sized snacks and rising ‘on-the-go’ trends.