U.S. Protein Supplement Market forecast is Expected to Reach $3,585.07 Million by 2028-Allied Market Research

According to a new U.S. protein supplement market report published by Allied Market Research titled, “U.S. Protein Supplement Market by Type, Form, Source, Gender, Age Group, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2028,”

The U.S. protein supplement market size is projected to reach $3,585.07 million by 2028 from $1,922.50 million in 2019, growing at a CAGR of 7.7% from 2021 to 2028. Protein is an essential nutrient and second most abundant substance present in the body after water. Protein supplements are concentrated sources of protein obtained from animals or plants that include dairy, eggs, wheat, soybean, pea, and others. They are present in three common forms, that is, powders, bars, and ready to drink (RTD) liquids. 

Protein powder is one of the most common protein supplements, available in the market as protein concentrates, protein isolates, and protein hydrolysates. The concentrates consist of 60%-80% protein and 20%–30% fat & carbs; the isolates contain 90%-95% protein; and hydrolysates boost the absorption of protein subsequently enhancing the muscle growth response to exercise. These products are consumed by individuals who strive to build muscle, increase & maintain body mass, or lose weight. Also, people take protein supplements to fulfill the necessary energy and vitamins needed through strenuous workouts as well as to compensate the nutrients & vitamins loss during reduction of food intake. 

Health benefits associated with consuming protein supplements and rise in fitness concerns among people in different regions drive the U.S. protein supplement market growth. In addition, increase in number of fitness & training centers, surge in disposable income, and alarming rise in obesity rates also fuel the U.S. protein supplement market growth. However, presence of cheap replacements and false claims coupled with negative publicity are expected to hamper the growth of the U.S. protein supplement market during the forecast period. Rise in protein supplement demand from health-conscious young population of the developing nations as well as strengthening of distribution channels in untapped regions are expected to provide numerous opportunities for expansion of the U.S. protein supplement market industry. The online segment was the leading distribution channel in the protein supplement market analysis in 2019 with the highest CAGR of 8.5% during the forecast period. 

This was attributed to the large number of options or alternatives present in online shopping resulting in convenience of people willing to buy protein supplement or related products. According to studies, protein supplements maintain blood pressure, improve immune system, aid in weight management, and reduce risk of cardiovascular diseases. In 2019, the whey protein segment occupied a major U.S. protein supplement market share, accounting for more than one-third revenue of the market. This U.S. protein supplement market trend is expected to continue during the forecast period as well, owing to its ease in digestibility, richness in branched-chain amino acids, and other factors. The soy protein segments accounted for the second highest market share in 2019, and is expected to grow at the highest CAGR during the forecast period. Obesity is the cause of many diseases and health hazards, owing to which more people are willing to lose weight and stay fit. Also, a large section of people are consuming protein supplements to develop muscles or gain weight. This results in expansion of the protein supplement market in all the regions.

Key findings of the study

• Based on type, the whey protein segment accounted for around 38.6% market share in 2019, growing at a CAGR of 7.9% from 2021 to 2028. The soy protein segment accounted for around 23% market share, growing at a CAGR of 8.8% from 2021 to 2028.
• Based on form, the powder segment accounted for 76.8% share of the market in 2019 and is expected to grow at a CAGR of 7.6%. The Ready to Drink (RTD) liquid segment occupied around 12.3% share of the market and is expected to grow at the CAGR of 8.7%.
• Based on source, the animal segment accounted for 74.4% share of the market in 2019 and is expected to grow at the highest CAGR of 7.8%. The plant segment occupied around 25.6% share of the market and is expected to grow at the CAGR of 7.4%.
• Based on gender, the male segment accounted for 61.6% share of the market in 2019 and is expected to grow at the highest CAGR of 7.9%. Female segment occupied around 38.4% share of the market share and is expected to grow at the CAGR of 7.3%.
• Based on age group, the millennial segment accounted for 45.9% share of the market in 2019 and is expected to grow at the highest CAGR of 8.1%. The Generation X segment occupied around 31.8% share of the market and is expected to grow at the CAGR of 7.6%.
• Based on distribution channel, the E-commerce segment accounted for 19.8% share of the market in 2019 and is expected to grow at the highest CAGR of 8.5%. The nutrition store segment occupied around 15.7% share of the market and is expected to witness growth at a CAGR of 8.2%.

The market is fragmented with the presence of several market participants such as Abbott Laboratories, ABH Pharma Inc., Amway Corporation, Glanbia Corp., GlazoSmithKline, GNC Holdings, Herbalife International of America Inc., Bob's Red Mill, Nutiva Inc., and MusclePharm Corporation. The major strategies adopted by key players to expand their business include expansion in untapped regions and new product launches.