The Protein Supplement Market was worth USD 1.67 billion in the year 2014 and is expected to reach approximately USD 2.72 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.59% during the forecast period. The market is segmented into Raw Material, Source, Product, Distribution Channel and Application. In terms of raw material the market is segmented into Pea, Casein, Whey and Soy. On the basis of source the market is segmented into Plant-based and Animal-based. On the basis of distribution channel the market is segmented into online stores, DTC and supermarkets. On the basis of product the market is segmented into RTD, Protein Powders and Protein Bars. In terms of application the market is segmented into functional food and sports nutrition.
Whey was the dominant raw material segment in 2016
Whey was the predominant raw material fragment and represented 56.6 percent of the general profit in 2016. The variables adding to the section development incorporate expanded selection of the product to maintain and build muscle mass, building muscle strength in response to endurance & strength training, and enhancing the recovery of athletes from heavy exercises.
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In 2016 animal-based protein was the dominant segment
By source, animal-based protein was the ruling portion and represented 68.9 percent of the general market revenue in 2016 because of its convenient accessibility, high rate of assimilation, and the existence of a few Supplement including vitamin D, vitamin B12, DHA, zinc and Heme-iron.
Protein powder was the most favored product segment in 2016
In 2016 Protein powder was the most favored product fragment and represented 64.5 percent of the general income. Protein powder is foreseen to encounter considerable development and remain the overwhelming product portion over the conjecture time frame. Increasing mass distribution channels, strong online sales, and expanding number of standalone mass facing brands by different organizations.
In 2016 Sports nutrition was the largest and fastest developing application segment
Sports nutrition was the biggest and quickest developing application portion and represented roughly 75 percent of the general market income in 2016. The expanding interest for sports nutritional Supplement from nations including Canada, the United States, Germany, United Kingdom, Italy, and India is foreseen to boost the demand over the figure time frame.
The leading players in the market are NOW Foods, Quest Nutrition, IOVATE, GNC, NBTY and AMCO. The key market players have set up their appropriation systems for the supply of items in creating areas including Focal and South America and Asia Pacific inferable from the rising demand from these areas.
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