Protein Powder Market was valued at USD 11,374 million in 2022 and is expected to reach USD 20,925.5 million in 2029, growing at a 7.8% CAGR from 2023 to 2029. Protein powders are the basis of our body muscles. Though a sufficient quantity of it always needs for the proper well-being of the body still, the requirement of protein in muscle development is hyper-popular, which contributed to the sports nutrition segment acquiring most of the protein powder market. Moreover, the recent addition of amino acid-based energy drinks is further expected to hold the consistency of market share by the sports nutrition segment. According to recommendations of the Food and Drug Administration (FDA), protein is the most important macronutrient required by our body system to maintain proper health as it is literally a part of every cell in our body and is an integral part of the proper functioning of our organ system. It is also famously called the building block of our body as it is the primary requirement for the repair and new formation of cells in the tissue systems of our body. In addition, protein powders are extensively popular among youths, it is good to fulfill all the protein needs from diet these are the major factor that drives the market. The continuous development in protein powder formulation for specific needs, sports, and nutrition are extensively growing industry, younger players gain more distribution globally. Furthermore, in order to be more inclusive rather than exclusive, several general sports nutrition businesses have promoted particular products' worth and benefits for consumers consequence of lucrative opportunities in the market. Malpractice and non-compliance hinder market growth, recently regulatory authorities banned protein supplements of different brands on the ground of non-compliance with GMP, false labeling, mixing of unwanted substances, etc.
Protein Powder Market Key Developments:
In November 2022, Max Protein launched Tastiest Plant Protein Powder in India, this plant-based protein made with 7 grains that offer 22 grams of clean protein per serving of 50gm and a unique formulation of enzyme and probiotic that helps increase digestion and protein absorption.
In March 2022, MusclePharm Corporation announced it will be expanding into the ready-to-drink protein category with the launch of its new whey protein drink line in the summer of 2022. The new high protein beverage line will be marketed under the leading MusclePharm brand and will contain over 20g of protein, be sugar-free, and will be available in multiple flavors.
Fastest Growing Market
The increasing protein powder culture and health awareness across the world is the major market driver in the Protein Powder Market during the forecast period. The high awareness of the general population about the utility of protein due to different awareness programs by the US FDA, different online health newsletters, and promotional advertisements by the protein powder selling companies mainly contributed to the hyper popularity of the protein intake. The term hyper popularity is used here in accordance with a report published by the US National Library of Medicine which states that most of the people who take regular protein supplements are actually psychologically modified in that they are not getting enough protein from their diet without any idea about how much protein are they actually getting. Hence, this will drive the global market growth at a significant rate.
The Protein Powder Market size was valued at USD 11,374 million in 2022 and is expected to reach USD 20,925.5 million in 2029, growing at a 7.8% CAGR from 2023 to 2029.
The leading players in the Protein Powder Market are Abbott Laboratories, Danone, Gelita AG, Glanbia PLC, Herbalife International, Inc, Hoogwegt, MusclePharm, Nestlé S.A., Rousselot, Vitaco
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation and Seven years forecast is presented from 2023 – 2029.