Surge in awareness among people regarding health & fitness, rise in obesity rates, and increase in demand for supplement from the millennial population propel the growth of the global protein supplement market.
According to the report, the global protein supplement market was estimated at $5.28 billion in 2018 and is expected to reach $8.71 billion by 2025, garnering a CAGR of 7.4% during the forecast period. The report offers a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
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Rise in awareness among people regarding health & fitness, increase in obesity rates, and upsurge in demand for supplement from the millennial population fuel the growth of the global protein supplement market. On the other hand, presence of cost-effective substitute and negative publicity & claims impede the growth to certain extent. Nevertheless, instigation of protein supplements in untapped market and increase in demand from young generation are projected to usher in a number of opportunities for the key players the industry.
The whey protein segment to retain its dominance by 2025-
Based on product type, the whey protein segment held nearly two-fifths of the total market share in 2018 and is projected to maintain its top status during the study period. At the same time, the soy protein segment is expected to register the fastest CAGR of 8.6% during 2018–2025. Another segment assessed in the market report includes egg protein.
The powder segment to lead the trail in terms of revenue-
Based on form, the powder segment contributed to more than three-fourths of the total market revenue in 2018, and is anticipated to dominate during the estimated period. The RTD liquid segment, on the other hand, would garner the fastest CAGR of 9.0% throughout the forecast period. The report also analyzes the protein bars segment.
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North America held the major share in 2018-
Based on geography, North America generated more than half of the total market in 2018 and is expected to rule the roost till 2025. Simultaneously, the Asia-Pacific region would grow at the fastest CAGR of 9.0% from 2018 to 2025. The other two regions analyzed in the market report encompass Europe and LAMEA.
Frontrunners in the industry-
Key market players analyzed in the report include ABH Pharma Inc., Amway corporation, Maker Nutrition LLC, GlaxoSmithKline Plc., Vitaco Health Limited, Abbott Laboratories, General Nutrition Corporation (GNC Holdings Inc.), Herbalife International of America, Inc., Glambia Plc., and Suppleform. These players have incorporated different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to reinforce their stand in the market.
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