NEWARK, Del, May 04, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the protein water market size is projected to be worth US$ 1,187.1 million by 2023. From 2023 to 2033, a CAGR of 8.3% is predicted to be achieved. By 2033, it is expected to provide an estimated US$ 2,634.9 million in value.
Growing demand for ingredients that add value to the end product in the food & beverage industry is a key driving force. It is aided by consumers' desire to try new food items with distinct flavors and textures.
Due to intense competition in the food & beverage industry, manufacturers have improved the taste and quality of their goods. It is set to result in the expansion of the protein water market.
The global functional food industry has expanded significantly. It has resulted in a constantly increasing demand for protein water from fitness enthusiasts, athletes, and people looking to boost their protein consumption while staying hydrated.
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Protein water offers additional health advantages and nutrients in a bottle of water at a reasonable price. The property is making it a good choice for modern consumers.
In place of other packaged food & beverages having less nutritional value, it serves as an excellent supplement. Protein water also offers consumers a whole range of health benefits in a single container.
Recent years have seen a significant rise in terms of demand for protein-rich diets as a result of changing lifestyles and increasing health consciousness. Protein water improves nutrient absorption, which boosts immunity and prevents health problems. Strengthening the immune system also aids in overcoming restlessness and maintaining a healthy lifestyle.
However, the consumption of protein water is not enough as it is packed with a significant protein punch. It misses the mark to meet the recommended daily intake of protein.
Shifting to protein water as a primary source of protein and energy might strip off the body. It can also affect carbohydrates and proteins, which are necessary for post-workout recovery. It is one of the key factors restraining growth in protein water demand globally.
Key Takeaways from Protein Water Market Study
- The protein water market expanded at a CAGR of 5.1% during the historical period from 2018 to 2022.
- The United States protein water market is anticipated to broaden at a robust CAGR of 7.3% in the next ten years.
- China protein water industry is likely to be valued at US$ 208.4 million by 2033.
- India protein water market is estimated to elevate at a CAGR of 4.4% from 2023 to 2033.
- By source, the plant-based protein segment is predicted to generate a share of around 70% by the end of 2023.
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“It is anticipated that in the projected time frame, worldwide per capita spending on food & beverages will increase. Consumers today have become more concerned with the ingredients in their meals. They have started reading the ingredient lists on numerous products. It has further led to the introduction of novel goods such as protein water with essential elements tailored to certain needs.” – Says a lead analyst.
Competitive Landscape
The existence of significant national and international competitors might fuel the competitive environment of the global protein water market. To increase shares and profits, manufacturing companies are primarily focused on extending their global footprints.
They are expanding their production capacity throughout numerous continents, including Europe, Asia, and North America. It is as a result of the accessibility and availability of providers of raw materials. Leading businesses are also using mergers & acquisitions and new product launches as important competitive strategies.
Key companies profiled in the protein water industry The hut.com Ltd, BioTech USA, Sigma Lifesciences, Garden State Nutrition, SI03, INC, Hint Inc., Celsius Holdings, PepsiCo, Vital Proteins LLC, Now Health Group, Protein Works, Applied Nutrition Ltd., USN UK Ltd, Iovate Health Sciences Inc, VPA Australia, Influx Healthcare, Soulfuel, The Vita Coco Company INC, Drink TATU and others.
Key Market Developments:
- In 2021, Protein2o collaborated with Spikeball. It was Protein2o's first nationwide sponsorship. It resulted in Protein2o being featured on the side-lines of Spikeball ESPN broadcasts, on social media, and in the hands of their athletes. The collaboration increased Protein2o's visibility among millennials and gen-Z.
- In 2021, Ready announced a joint venture collaboration with Highmark Health. It aims to improve the health and nutrition of athletes living in areas serviced by Allegheny Health Network, a provider system of Highmark Health.
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Get More Valuable Insights into Protein Water Market
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global protein water market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the global protein water market based on Product Type, Flavor, Packaging Type, Source, Distribution Channel & Region.
Protein Water Market Outlook by Category
By Product Type:
- Ready-to-drink/ Liquid
- Ready-to-mix/ Powder
By Flavor:
- Original/ Unflavored
- Flavored
- Vanilla
- Chocolate
- Tropical
- Peach
- Strawberry
- Orange
- Mango
- Watermelon
- Lemon
- Mixed Berry
- Black Grape
- Others (Cranberry and Green apple)
By Packaging Type:
- Bottle
- Sachet
- Box
- Tetra Pack
- Pouch
- Bottle Can
By Source:
- Plant-based Protein
- Animal-based Protein
By Distribution Channel:
- Commercial/ Food Service
- HoReCa
- Quick Service Restaurants (Sandwicheries, Fast Casual, Coffee Shops)
- Retail/ Household/ B2C
- Hypermarkets/ Supermarkets
- Convenience Stores
- Specialty Stores
- Drug Stores/ Pharmacy/ Wellness Centers
- Traditional Grocery Retailers/ Mom and Pop Stores/ Discount Stores/ Independent Small Groceries
- Airport Retail
- Travel Retail (Airplanes, Cruise Ships, and Others)
- Online Sales
- Company Website
- Gross Merchandiser
Table of Content
1. Executive Summary | Protein Water Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
3. Market Dynamics
3.1. Drivers
3.1.1. Supply Side Drivers
3.1.2. Demand Side drivers
3.1.3. Economic Side Drivers
3.2. Restraints
3.3. Opportunity
3.4. Market trends By Region
3.5. Forecast Factors - Relevance & Impact
3.6. Packaging & Labelling Regulations
3.7. Regulatory Landscape (TOC Continue...)
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Water Enhancers Market Share: The global water enhancers market is anticipated to be worth US$ 1.6 Billion by 2022, growing at a CAGR of 9.5% between 2022 and 2032.
Protein Hydrolysate Ingredients Market Demand: The sales of protein hydrolysate ingredients Market are likely to rise at a CAGR of 7.25% from 2022 to 2032.
Protein Ingredients Market Value: As per Future Market Insights (FMI), the overall market value is expected to reach a valuation of USD 47.4 Billion by 2032, rising at a CAGR of 5.6% for 2022 to 2032.
Pea Protein Ingredients Market Scope: The pea protein ingredients market is projected to be valued at US$ 1.6 billion in 2023 and is rising to US$ 3.4 billion by 2033.
Organic Rice Protein Market Growth: Organic Rice Protein is anticipated to expand at a CAGR of 4.1% over the forecasted time period. According to projections, the industry would be worth US$ 155.6 Million by 2032.
Soy Protein Ingredient Market Overview: The Soy Protein Ingredient market is valued at USD 10.2 Billion in 2022 and is projected to grow at a CAGR of 4.5% during the forecast period, to reach a value of USD 15.9 Billion by 2032.
Pea Protein Market Outlook: The overall market share value is projected to increase to US$ 204.5 Million by the end of this projected period in 2032.
Plant-Based Energy Drink Market Forecast: The overall demand for plant-based energy drinks is projected to grow at a CAGR of 6.11% between 2022 and 2032, totaling around US$ 16,285.7 Million by 2032.
Protein Powder Market Volume: The protein powder market size exceeded USD 22.3 Billion in 2022 and is estimated to grow at over 7.3% CAGR between 2022 and 2032.
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