The global Protein Supplements Market is estimated to be valued at US$ 27.43 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Protein supplements help build and maintain lean muscle mass and are used by athletes, bodybuilders and individuals focusing on their fitness. These dietary supplements come in powder, bar and ready-to-drink liquid form and provide essential amino acids and other nutrients required for muscle growth and recovery.

Market key trends:

One of the key trends in the protein supplements market is the increasing popularity of protein bars. Protein bars provide convenience of dietary supplements on-the-go. They are easy to carry and consume and taste better than protein powders. Popular types of protein bars include cereal protein bars, granola protein bars and protein snack bars. As more people adopt active lifestyles and wellness regimens, the demand for tasty and filling protein bar snacks is expected to rise substantially. Protein bars offer balanced macros like carbohydrates, fats and protein satisfying hunger for longer duration. Their availability in various flavors also allows consumers to choose optimal bars according to taste preferences.

Segment Analysis

The protein supplements market can be segmented into various protein types such as whey, casein, egg, soy, pea and others. Among these, whey protein type holds the largest share of around 35% due to its easily digestible property and rich composition of amino acids like leucine, cysteine, histidine, methionine. Whey is primarily extracted as a by-product during cheese manufacturing.

Key Takeaways
The Global Protein Supplements Market Demand is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing health awareness and rising disposable income.

Regionally, North America dominates the protein supplements market owing to growing health-conscious population and awareness regarding benefits of consuming protein-rich diet in countries like US and Canada. North America is expected to hold around 40% share of the global market by 2030.

The global protein supplements market size is US$ 27.43 Bn in 2023. Key players operating in the protein supplements market are Mondelez Company, Meiji Holdings Co Ltd., Quest Nutrition LLC, MusclePharm Corporation, Post Holdings Inc., Nestlé SA, Abbott Laboratories, Scitec Nutrition, The Hut Group, Glanbia PLC, Weider Global Nutrition LLC, and Iovate Health Sciences International Inc., among others. These major players are adopting strategies like new product launches, mergers, acquisitions and geographical expansions to increase their market share.

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