New York, NY, Aug. 17, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Protein Supplements Market – By Product (Ready To Drink and Ready To Eat), By Raw Material (Casein Protein Supplements, Whey Protein Supplements, Egg Protein Supplements, MPC Protein Supplements, and Soy Protein Supplements), By Source (Animal and Plant), By Distribution Channel (Supermarkets And Hypermarkets, Online Stores, and Drug Stores): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017– 2024”. According to the report, the global protein supplements market was valued at around USD 2.44 billion in 2017 and is expected to reach approximately USD 3.59 billion by 2024, growing at a CAGR of around 5.71% between 2018 and 2024.
Protein supplements are dietary supplements used to increase dietary protein intake. Protein supplements contain the high percentage of protein derived from animal or plant. Today’s food does not fulfill the daily protein requirements of the body which is generating the demand for protein supplements. Protein supplements have various advantages including weight loss, nutritional value, muscles gain, energy, etc. Proteins are made from amino acids. Protein is involved in the production of enzymes, building body cells, and tissues. Protein is important for increasing stamina and maintaining the energy level of the human body.
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The global protein supplements market is anticipated to witness significant growth during the forecast period owing to the rising number of health-conscious consumers globally. Growing awareness regarding benefits of protein supplements among consumers is affecting the protein supplements market substantially. Increasing consumption of protein supplements by women consumer as an option for weight loss is the factor driving the growth of protein supplements market. Increasing consumption of protein supplements by athletes and sports persons is another important factor affecting protein supplements market positively. Moreover, increasing demand for protein supplements owing to growing geriatric population globally is expected to spurt the growth of protein supplements market.
Based on the type, the market is bifurcated into ready to drink and ready to eat. In terms of revenue, ready to drink segment accounted for the largest market share in 2017. This is mainly due to changing lifestyle and increasing adoption of convenient highest production and continuous developments. In the raw material segment, soy protein is anticipated to show the fastest growth in terms of revenue owing to its health advantages. In terms of revenue, online distribution channel is anticipated to show the fastest growth in the near future owing to increasing digitization, e-commerce, and internet penetration.
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In terms of revenue, Asia Pacific accounted for the significant market share in 2017. The market is growing mainly due to the increasing awareness regarding active lifestyle, fitness, and health awareness. In addition, increasing urbanization, rising income of the middle-class population, and increasing adoption of western food culture are anticipated to boost the protein supplements market growth. North America and Europe will display lucrative opportunities due to increasing occurrence of obesity and rising geriatric population in the region. Growing functional advancement in protein supplements such as energy balance, muscles repair, weight loss, etc. is increasing the demand for protein supplements market. Latin America is projected to show considerable growth due to the increasing demand for protein supplements by athletes and sportspersons. The Middle East & Africa is likely to attain moderate growth in the protein supplements market during the forecast period owing to increasing awareness regarding gyming and fitness among the young population.
Some of the key players have been focusing on innovative product launches, research & development, nutritional advancement, maintaining the quality of the product in order to retain their dominance in the market. Some of the key players are Amway Corporation, Abbott Laboratories, Glanbia Group, Herbalife International of America, Inc., ABH Pharma Inc., GlaxoSmithKline (GSK), GNC Holdings, Makers Nutrition, Suppleform, Vitaco Health, and others.
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This report segments the global protein supplements market as follows:
Global Protein Supplements Market: Product Type Segment Analysis
- Ready To Drink
- Ready To Eat
Global Protein Supplements Market: raw material Segment Analysis
- Casein Protein Supplements
- Whey Protein Supplements
- Egg Protein Supplements
- MPC Protein Supplements
- Soy Protein Supplements
Global Protein Supplements Market: Source Segment Analysis
- Animal
- Plant
Global Protein Supplements Market: Distribution Channel Segment Analysis
- Supermarkets And Hypermarkets
- Online Stores
- Drug Stores
Global Protein Supplements Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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