The Latest Protein Powder Industry Statistics Explained
The global protein supplement market size was valued at USD 18.91 billion in 2020.
The statistic indicates that the global protein supplement market was valued at USD 18.91 billion in 2020. This means that the total sales revenue generated by protein supplements worldwide in that year amounted to nearly $19 billion. The market size reflects the demand for protein supplements, which are popular among consumers seeking to enhance their fitness and well-being. The significant value of the market signals a growing trend towards health and fitness consciousness, leading to increased consumption of protein supplements as a convenient and effective way to meet dietary protein needs.
The Protein Powder market is expected to grow at a CAGR of 6.3% between 2021 and 2023.
The statistic “The Protein Powder market is expected to grow at a CAGR of 6.3% between 2021 and 2023” means that the market for protein powder products is anticipated to increase steadily over the two-year period, with a Compound Annual Growth Rate (CAGR) of 6.3%. This indicates a consistent annual growth rate for the market during this timeframe. Companies operating in this market can use this statistic to forecast their future sales and plan their marketing and production strategies accordingly to capitalize on the expected growth in demand for protein powder products.
North America holds the largest market share for protein powder, making up 35% of the global market.
The statistic that North America holds the largest market share for protein powder, accounting for 35% of the global market, indicates the region’s significant dominance in the protein powder industry. This suggests that a substantial portion of total protein powder consumption and sales occurs in North America compared to other regions worldwide. Factors contributing to this market share dominance could include the popularity of fitness and health trends in the region, a high demand for protein supplements among athletes and fitness enthusiasts, as well as effective marketing and distribution strategies by companies operating in the North American market. Overall, this statistic highlights the importance of North America as a key player in the global protein powder market.
Protein powder manufacturing in the United States is estimated to earn $16 billion in revenue.
The statistic indicates that the revenue generated from protein powder manufacturing in the United States is estimated to reach $16 billion. This figure represents the total amount of money earned by companies in the industry by selling protein powder products within a specific period, likely annually. The substantial revenue suggests a high level of demand for protein powder products in the market, potentially driven by factors such as a growing interest in health and fitness, dietary trends emphasizing protein consumption, and the popularity of protein supplements among athletes and individuals seeking to improve their overall well-being. The statistic highlights the economic significance of the protein powder manufacturing sector within the broader context of the health and wellness industry in the United States.
Casein protein is predicted to grow at a faster rate of 7.9% CAGR during 2021-2028.
This statistic indicates that the market for casein protein is expected to experience significant growth over the period from 2021 to 2028, with a Compound Annual Growth Rate (CAGR) of 7.9%. This means that on average, the market size for casein protein is projected to expand by 7.9% each year during this period. The CAGR is a useful metric for understanding the steady annual growth rate of a market or product, and in this case, a CAGR of 7.9% suggests a substantial and consistent increase in the demand for casein protein products over the next few years.
The protein supplement e-commerce sector is expected to grow at a staggering CAGR of over 17% by 2028.
This statistic indicates the projected growth rate for the protein supplement e-commerce sector, stating that it is expected to grow at a compound annual growth rate (CAGR) of over 17% by the year 2028. A CAGR of 17% implies a robust and rapid expansion in the sector over the specified time frame. This growth rate suggests a significant increase in consumer demand for protein supplements through online platforms, likely driven by factors such as changing lifestyles, increasing health awareness, and convenience of online shopping. The forecast highlights a promising market opportunity and potential for businesses operating in the protein supplement e-commerce sector to capitalize on this anticipated growth trend in the coming years.
China is expected to consume the most protein supplements in Asia, with a projection to reach $2.5 billion by 2023.
The statistic indicates that China is anticipated to become the leading consumer of protein supplements in Asia by 2023, with a projected spending of $2.5 billion on such products. This forecast reveals a growing trend towards health and wellness in China, as individuals seek to strengthen their dietary intake and fitness routines with protein supplements. The rising demand for protein supplements in China suggests a shift towards preventive healthcare and a focus on physical well-being among the population. The projected increase in spending reflects a lucrative market opportunity for companies in the health and nutrition industry to cater to the evolving needs and preferences of Chinese consumers.
70% of American consumers perceive protein as a vital component for maintaining a healthy diet.
The statistic states that 70% of American consumers believe that protein is an essential component for maintaining a healthy diet. This means that a significant majority of consumers in the United States place a high value on protein as a crucial nutrient for their overall well-being. The perception that protein is vital for a healthy diet aligns with scientific evidence that highlights the importance of protein in various bodily functions, including muscle repair, immune system function, and hormone regulation. As such, this statistic reflects a widespread understanding and appreciation for the role of protein in promoting and sustaining good health among American consumers.
Whey protein held the maximum market share of over 65% in 2020.
In 2020, whey protein dominated the market by holding over 65% of the total market share, signifying its significant presence and popularity within the industry. This statistic suggests that whey protein, known for its high-quality protein content and various health benefits, was the most preferred choice among consumers and businesses involved in the protein supplement market. The substantial market share held by whey protein indicates a strong competitive advantage over other types of protein supplements, cementing its position as the market leader in 2020.
The soy protein segment is anticipated to grow at a significant CAGR of over 7.9% from 2021 to 2028.
The statistic indicates that the soy protein market is projected to experience a Compound Annual Growth Rate (CAGR) of over 7.9% from 2021 to 2028. This suggests a substantial rate of growth for the soy protein segment over the specified time frame. A CAGR of 7.9% implies that the market is expected to expand and increase its size by approximately this percentage each year, leading to significant growth opportunities in the soy protein industry. This projection could be driven by various factors such as increasing consumer awareness about the health benefits of soy protein, rising demand for plant-based protein alternatives, and advancements in technology and production processes.
Protein bar sales are expected to surpass $1 billion by 2023.
The statistic “Protein bar sales are expected to surpass $1 billion by 2023” indicates a significant growth trend in the protein bar industry. This projection implies that there is increasing consumer demand for protein bars, likely driven by factors such as the growing popularity of health and fitness trends, and the increasing awareness of the importance of protein consumption for various health and wellness goals. The expected sales surpassing $1 billion by 2023 suggests a strong market potential for protein bars, making it an attractive market for both existing and new players in the industry to capitalize on the growing demand and seize market opportunities.
Online sales accounted for more than 25% of the total revenue in the protein supplement market in 2020.
This statistic indicates that online sales played a significant role in the protein supplement market in 2020, comprising over a quarter of the total revenue generated within the industry. The fact that online sales accounted for more than 25% of total revenue underscores the growing importance and influence of e-commerce channels in the distribution and sales of protein supplements. This data suggests that consumers are increasingly turning to online platforms to purchase protein supplements, possibly due to factors such as convenience, wider product selection, and competitive pricing. As a result, manufacturers and retailers in the protein supplement market may need to adapt their strategies to capitalize on the opportunities presented by the online sales trend.
78% of Americans are aware of the positive effects of proteins and amino acids.
The statistic that 78% of Americans are aware of the positive effects of proteins and amino acids indicates that a significant majority of the American population has knowledge about the importance and benefits of these essential nutrients. This high level of awareness suggests that there is a general understanding among individuals regarding the role that proteins and amino acids play in maintaining good health and overall well-being. This statistic highlights the relevance of education and information dissemination efforts aimed at promoting healthy dietary habits and nutritional awareness among the public. It also underscores the potential for people to make informed choices about their diet and nutrition based on the recognition of the positive impacts that proteins and amino acids have on the body.
In 2020, the meal replacements segment dominated the protein supplements market with more than 45% share.
In 2020, the meal replacements segment emerged as the leading category within the protein supplements market, capturing over 45% of the total market share. This indicates that a significant portion of consumers preferred meal replacement products over other types of protein supplements like protein powders, bars, or drinks. The dominance of the meal replacements segment suggests a growing trend towards convenient and easy-to-consume protein options among health-conscious consumers. The strong market presence of meal replacements highlights their appeal in meeting the nutritional needs and lifestyle preferences of individuals seeking convenient and effective ways to incorporate protein into their diets.
Europe is expected to grow at a significant CAGR of around 6.5% in terms of revenue from 2021 to 2028.
This statistic indicates that European markets are projected to experience a substantial Compound Annual Growth Rate (CAGR) of approximately 6.5% in terms of revenue between the years 2021 and 2028. This growth rate suggests strong economic expansion and increasing business opportunities within the region over the specified time period. It implies that businesses operating in Europe could potentially see considerable financial gains and market growth during these years. Factors driving this growth may include advancements in technology, demographic shifts, regulatory changes, or improvements in market conditions. Overall, this statistic highlights the promising outlook for economic expansion and revenue generation in Europe from 2021 to 2028.
The protein supplement market in India is projected to exhibit a CAGR of over 10% during the forecast period (2021-2026).
This statistic indicates the compound annual growth rate (CAGR) expected for the protein supplement market in India over the forecast period from 2021 to 2026 arithmetically to be more than 10%. The CAGR is a measure of the year-over-year growth of an investment or market and reflects the smooth annualized gain or decline over a specified period. In this context, a CAGR of over 10% suggests substantial growth prospects for the protein supplement market in India over the forecast period, implying an increasing demand for protein supplements among the Indian population and presenting potential opportunities for businesses operating in this sector.
17% of US adults use protein supplements, and 11% use plant-based proteins.
This statistic indicates that among United States adults, 17% use protein supplements, while 11% specifically use plant-based proteins. This suggests that a notable proportion of the adult population in the US engages in the consumption of protein supplements, with a substantial minority opting for plant-based sources. The data highlights the popularity and diversity in choices of protein supplementation among adults, with implications for understanding dietary preferences, health trends, and consumer behavior in the nutrition and wellness industries.
The protein powders segment dominated the global market for protein supplements, accounting for a 61% share in 2020.
This statistic indicates that the protein powders segment held a significant position in the global market for protein supplements in 2020, comprising the majority share at 61%. This dominance suggests that protein powders were the most popular and widely consumed form of protein supplementation among consumers during that period. The high market share reflects strong demand for protein powders, possibly due to factors such as convenience, variety of flavors and formulations, effectiveness in supporting fitness and health goals, and widespread availability in both physical and online retail channels. As such, the dominance of the protein powders segment highlights its importance and influence within the broader protein supplement market landscape.
The market for plant-based protein products is forecast to reach $7.5 billion by 2025.
This statistic indicates that the market for plant-based protein products is expected to grow rapidly, reaching a value of $7.5 billion by the year 2025. This forecast suggests a significant increase in consumer demand for plant-based protein alternatives, driven by factors such as health and environmental concerns, changing dietary preferences, and the rise of vegan and vegetarian lifestyles. The substantial projected market value highlights the strong market potential for plant-based protein products in the coming years, signaling opportunities for businesses to capitalize on this growing trend and for consumers to enjoy an expanding variety of plant-based protein options in the marketplace.
References
0. – https://www.www.ibisworld.com
1. – https://www.www.nutritionaloutlook.com
2. – https://www.www.marketresearchfuture.com
3. – https://www.www.polarismarketresearch.com
4. – https://www.www.globenewswire.com
5. – https://www.www.fortunebusinessinsights.com
6. – https://www.www.grandviewresearch.com
7. – https://www.www.statsandreports.com
