Protein supplements Market 2019 In Depth Analysis by Leading Players

The global protein supplements market is expected to grow at a CAGR of 6.7% and is projected to reach a market size of US$ 22.3 Bn by 2026. The increasing number of fitness centers, health clubs, and gyms, is resulting in the rise in demand for protein supplements over the years. Body builders, athletes, and recreational users have been the traditional customers of protein supplement products. Plant-based protein supplement products are expected to witness significant growth during the forecast period, owing to the growing preference for plant-based diets among consumers across the globe.

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The global protein supplements market is witnessing significant growth owing to an increasing consumer awareness about healthier diets and leading a proper lifestyle. In addition to this, functional advancements that include boosting energy, muscle repair, and weight loss, are also resulting in a rise in demand for protein supplements over the years. The rising demand for ready-to-drink products among consumers is also a major factor that is triggering the overall market growth during the forecast period.

Recent News:

• February 2018: GSK Consumer Healthcare Ltd. planned to enter the protein supplement segment with Horlicks Protein+ in India. The protein supplements market in India is growing at a rate of 20% annually and the venture is expected to generate new opportunity for GSK to grab greater customer attention.
• April 2019: Unilever has announced that it has signed an agreement to acquire U.S-based Olly Nutrition that manufactures minerals, vitamins, and protein supplements. The new venture would strengthen the Company’s product portfolio and fulfil the increasing demand for protein supplements from consumers.

The major players operating in the market are focusing on new product development, product launches, and strategies such as mergers and acquisitions, in order to grab the attention of a greater number of customers. New entrants such as Paras Dairy in India has launched whey protein supplements under the brand 'Proquest Nutrition', for sports and fitness enthusiasts. The entire range of Proquest products has been tested by the food safety regulator FSSAI-approved certified lab, in order ensure that quality products are being served to consumers.