U.S. Protein Supplements Market Emerging Trends, Region by Forecast to 2029
The U.S. protein supplements market size was USD 7.70 billion in 2021. The market is projected to grow from USD 8.29 billion in 2022 to USD 16.41 billion by 2029, exhibiting a CAGR of 10.26% during the 2022-2029 period. Rising awareness regarding health benefits of protein consumption and surging product demand from young athletes will aid market progression. The growing consumption of whey protein by bodybuilders and sportspeople is also contributing to total sales amassed. This information is provided by Fortune Business Insights, in its report titled, “U.S. Protein Supplements Market, 2022-2029.”
List of Key Players Mentioned in the Report:
Abbott Laboratories (U.S.)
General Nutrition Centers, Inc. (U.S.)
Glanbia Plc (U.S.)
Herbalife Nutrition Ltd (U.S)
Kellogg Company (U.S)
Mondelez International (U.S)
PepsiCo Inc. (U.S)
Post Holdings Inc. (U.S.)
The Beachbody Company (U.S.)
The Simply Good Foods Company (U.S.)
Browse a Summery of This Research Report:
https://www.fortunebusinessins....ights.com/u-s-protei
Segments:
Protein Powder Segment to Lead Backed by Rising Number of Fitness Enthusiasts
Based on product, the market is divided into protein powder, RTD, protein bars, and others. Among these, the protein powder segment is projected to have the largest U.S. protein supplements market share due to growing number of fitness enthusiasts in the country. The U.S. has a large population of elite athletes and a high number of gyms and health clubs. These factors contribute to product demand and drive market progression.
COVID-19 Impacts:
Consumer Inclination Toward Health and Nutrition Products Facilitated Market Expansion Amid the Pandemic
The spread of COVID-19 worldwide affected the protein supplements industry positively as people made a conscious shift toward health and nutrition products. Protein consumption increased owing to increasing focus on strengthening the immune system. The consumer’s purchasing behavior changed amid the pandemic and they preferred health enhancing products. The surging demand for dietary supplements boosted sales of protein supplements, thus aiding the U.S. market growth.
Animal-based Segment to Dominate Owing to Surging Demand from the Sports and Nutrition Industry
As per source, the market is bifurcated into plant-based and animal-based. Among these, the animal-based segment dominated the market due to widespread application in sports and nutrition segment as it blends easily as compared to plant protein. The strong amino profile of animal-based protein and growing concern regarding fitness are also contributing to market proliferation.
Specialty Retailers Segment Holds Significant Share Due to Availability of Wide Variety
According to distribution channel, the market is split into specialty retailers, online stores, and others. Among these the specialty retailers segment captured 45.25% of the market share as they provide a wide range of products in one place. They also provide private label brands and better customer service, which drive the growth of the segment.
Report Coverage:
The report briefs readers about growth stimulants and challenges impacting market trends over the forecast timeframe. It analyzes the market extensively by dividing it into segments and regions. Market share held, growth rate estimates, and valuation of each region and segment are also covered in the document. Leading players, tactical moves undertaken by them, and COVID-19 impact analysis are also given in the report.
Drivers and Restraints:
Rising Demand for Sports Nutrition Supplements to Stimulate Market Proliferation
Protein is an essential part of a healthy diet and lifestyle. It is a crucial macronutrient, which enhances stamina and plays an important role in muscle recovery. Athletes and bodybuilders consume protein supplements for better results and fitness, which propels their demand and aids market progression. As per the Council of Responsible Nutrition (CRN), approximately 77% of Americans consume dietary supplements, out of which, the U.S. residents consume 28% of sports nutrition supplements. They are available in several forms such as drinks, bars, powders, and shakes and help in appetite control and muscle growth. These benefits offered by these supplements surge their demand, thus driving the U.S. protein supplements market growth.
On the other hand, growing concerns among consumers regarding excessive usage of sugar and other artificial sweeteners such as corn syrup will hinder market proliferation in the coming years.
Country Insights:
Rising Concerns Regarding Obesity to Aid Market Elevation
As per the State of Obesity 2022 report, four in ten American adults are obese and obesity rates are continuously rising. Obese people often face other health issues such as high cholesterol, blood pressure, and diabetes. As a result, consumers in the U.S. tend to consume supplements of protein as they curb appetite and help in weight management. The surging demand for on-the-go, convenient snacks that are rich in protein will propel market growth in the economy in the coming years.
Competitive Landscape:
Industry Leaders are Expanding Product Portfolio to Include the Adoption of Plant-based Alternatives
The demand for plant-based products is rising due to increasing willingness of people to reduce meat consumption. Consumers are now looking for plant-based protein supplements, which encouraged leading players to expand their product portfolio. Industry leaders are launching drinks, snacks, and on-the-go foods with plant-based protein. For example, in December 2020, Ingredion Incorporated introduced a pea protein isolate. The new product consists of 80% protein and helps manufacturers to make ‘high-in-protein’ front-pack claimed products. It can also be used to produce protein bars and drinks.
Key Industry Development:
November 2022: Glanbia Nutritionals, a global nutrition company, introduced FerriUp, a new whey protein concentrate. The new product is ideal for active women who may experience depleted energy and iron levels. It is a whey protein concentrate which consists of 80% protein, lactoferrin, and vitamin B12. The product is ideal for bars and ready-to-mix powders.
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