Protein Supplement Market Worth $32.6 Billion by 2027 | CAGR

8.0% : Grand View Research, Inc.

SAN FRANCISCO, March 25, 2020 /PRNewswire/ --  The global protein supplements market is anticipated to a market size of USD 32.6 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to exhibit a CAGR of 8.0% during the forecast period. Growing number of fitness centers, gyms, and health clubs signify the increasing inclination toward healthier lifestyle. Athletes, bodybuilders, and recreational users have been the traditional consumers over the past few years.

Key suggestions from the report:

• Animal protein supplement accounted for a market share of 67.9% in terms of revenue in 2019, owing to high popularity of whey protein supplements among athletes and bodybuilders as it contains all nine essential amino acids
• The plant-based protein segment is anticipated to expand at a CAGR of 8.8% from 2020 to 2027 and is projected to reach USD 11.05 billion in 2027. Increasing incorporation of various sources, such as soy, pea, and spirulina is majorly driving the segment growth
• Asia Pacific is estimated to expand at a CAGR of 8.6% from 2020 to 2027 on account of expanding middle class population, penetration of e-retaining, and gym and sports club memberships
• The protein supplement market is characterized by accreditation of the product, capacity expansion, capital expansion, and substantial investment decisions to improve the market share of manufacturers
• Some of the prominent companies present in the market are Glanbia Plc, AMCO Proteins, Quest Nutrition, NOW Foods, NBTY, MusclePharm Corp, Abbot Laboratories, Cyto Sport, IOVATE, and Transparent Labs

Read 150 page research report with ToC on "Protein Supplements Market Size, Share & Trends Analysis Report By Product (Protein Powders, Protein Bars), By Source, By Distribution Channel, By Application, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/protein-supplements-market

Increasing busy lifestyle has been leading to the growing consumption of packaged nutritional foods, such as protein bars and drinks. In addition, rising obesity concerns along with increased preference for protein-rich products to maintain health has been a key factor augmenting the product demand. The rising number of fitness enthusiasts and gym subscriptions, especially in emerging regions, such as Asia Pacific, is leading to a higher demand for protein powder to build muscles.