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Description
The protein supplements market size was valued at USD 17.84 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2027. Protein supplements are flavored dietary supplements added to diet in the absence of food consumption. Proteins are fundamental components of all living organisms. These are essential for proper functioning, growth and repair of the tissue of the living organism. Increase in health consciousness among the people, surge in fitness centers is expected to drive the Protein Supplements Market. The soaring obesity rates are indicating the demand for protein supplements. The industry is gaining traction as a result of rising health awareness and an increase in the number of fitness facilities around the world. Over the forecast period, rising product popularity among millennials, combined with their desire to improve their health through a well-balanced diet, is likely to drive up demand for protein supplements. Because of changing lifestyles, people are becoming more reliant on supplements to meet their daily nutritional needs, which is likely to drive product demand even higher. North America, led by the United States, was the largest regional market in 2020. Proteins derived from animal sources are becoming more expensive, prompting producers to seek out cheaper alternatives. Plant-based sources, including as soy, canola, rice, wheat, and pea, are, on the other hand, becoming more popular as supplements. Various companies are exploring new prospects by valorizing components to improve the nutritional value of their products or creating new applications for vicelin, globulins, prolamins, and albumins, among other proteins.
