Protein Powder Global Market Report 2023: Rising Number of Fitness Enthusiasts Fuels Growth
May 17, 2023
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06 Jun, 2023, 06:30 ET
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DUBLIN, June 6, 2023 /PRNewswire/ -- The "Protein Powder Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global protein powder market is expected to grow from $23.62 billion in 2022 to $25.23 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The protein powder market is expected to grow to $32.76 billion in 2027 at a CAGR of 6.7%.
A rising number of fitness enthusiasts is expected to propel the protein powder market going forward. Fitness enthusiasts are people who are committed to their physical well-being and who care about their food, viewing it as a vital component of their overall well-being. Fitness enthusiasts use protein powder to aid weight loss and help tone their muscles, thus, an increase in fitness enthusiasts will propel market growth. For instance, according to the 2022 IHRSA Health Club Consumer Report shared by the International Health, Racquet & Sportsclub Association, a US-based global community of health and fitness professionals, in 2022, more than 1 out of 5 Americans belonged to a health club or fitness studio, reaching 66.5 million consumers with a growth rate of 3.6%. Therefore, the rising number of fitness enthusiasts is driving the growth of the protein powder market.
Product innovations have emerged as a key trend gaining popularity in the protein powder market. Major companies operating in the protein powder market are focused on developing new innovative solutions to strengthen their position in the market. For instance, in July 2022, Dymatize Enterprises LLC, a US-based provider of a variety of nutritional and bodybuilding supplements, launched the Dymatize Complete Plant Protein, a new and unique vegan plant-based protein powder. It is uniquely designed with a complete amino acid profile and performance protein blend from five plant sources that support the muscles and help the body recover. It is a lactose-free powder that easily mixes in water or milk alternatives and offers 25 grams of complete protein with 160 calories.In May 2021, Saputo, a Canada-based producer and distributor of dairy products and whey protein powders, acquired the Reedsburg facility of Wisconsin Specialty Protein LLC for an undisclosed amount. This acquisition will enable Saputo to expand and boost the value of its ingredient offerings in the USA and abroad. Wisconsin Specialty Protein LLC is a US-based manufacturer of organic cow, sheep, and goat whey protein products.North America was the largest region in the protein powder market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the protein powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The countries covered in the protein powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.Executive Summary: Protein Powder Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on protein powder market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.Reasons to Purchase
Description:Where is the largest and fastest growing market for protein powder? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The protein powder market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.ScopeMarkets Covered:1) By Type: Casein Protein; Whey Protein; Egg Protein; Soy Protein2) By Flavor: Chocolate; Cookies And Cream; Vanilla; Strawberry; Other Flavors3) By Sources: Plant Sources; Animal Sources4) By Distribution Channel: Nutrition Stores; Supermarkets; Chemists; Online; Other Channels5) By End Use: Dietary Supplements; Food and Beverages; Pharmaceuticals; Other UsesKey Topics Covered: 1. Executive Summary2. Protein Powder Market Characteristics3. Protein Powder Market Trends And Strategies4. Protein Powder Market - Macro Economic Scenario5. Protein Powder Market Size And Growth6. Protein Powder Market Segmentation
7. Protein Powder Market Regional And Country Analysis
A selection of companies mentioned in this report includes
For more information about this report visit https://www.researchandmarkets.com/r/gz43w6
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