Asia Pacific Protein Supplements Market

Asia Pacific Protein Supplements Market Research Report 2022 - 2027:

Asia Pacific Protein Supplements Market is expected to experience reasonable growth and record a compound annual growth rate of 8.6% throughout the conjecture period (2022 - 2027).

Protein supplements are additional components that are consumed to increase the nutritional content in the body. They improve fitness and performance by improving metabolism. The growing awareness of protein deficiency diseases and the need to replace fast foods are pushing consumers to include protein supplements in their busy lifestyles.

Recent Developments:

1. In December 2018, Unilever announced that it had agreed to purchase consumer health products and nutritional products for the Asia-Pacific regions. This acquisition will allow Unilever to expand its product offering in health products.
2. In October 2018, PepsiCo announced that it had acquired Health Warrior, Inc. This acquisition will help PepsiCo increase its nutritional product capacity and meet the growing demand for consumer-specific nutritional products.

Market Drivers and Restraints:

The loss of muscle mass, strength, and function that occurs gradually with aging is known as sarcopenia. Decreased skeletal muscle mass and strength will create a demand for dietary protein intake and muscle health. In addition, aging populations are expected to stimulate growth in the Asia Pacific protein supplement market during the forecast period. Whey protein powder is the most popular sports nutrition supplement as it starts with the muscle protein synthesis process, so the popularity of whey as sports nutrition for athletes and bodybuilders should greatly increase the growth of the whey protein. Online stores are expected to be the largest distribution channel segment in the Asia Pacific protein supplement market. The increasing number of Internet users combined with ease of access and convenience are the factors driving demand for protein powder in the online stores. In addition, product discounts and offers as a manufacturer's promotional strategy are expected to increase sales of protein supplements in this area.

Market Segmentation:

The segmentation for Asia Pacific Protein Supplements market can be made on the basis of Type, Form, Source, Sales Channel, Age Group and Gender.

Depending on the type, the APAC protein supplement market is studied among casein, whey, egg, soy, and others, including peas, peas, wheat, rice, canola, gelatin, collagen and others. Among the types of products, the whey protein segment represents a larger share of protein supplements. Whey protein is traditionally used by athletes and bodybuilders because it promotes overall body growth and muscle building. The increased demand for sports nutrition products and their value-added label as clean ingredients are the two main factors contributing to the overall growth of the market.

Depending on the age group, the regional protein supplement market is separated as Millennial, Generation X, and baby boomers. Among these, millennial segment recorded the prominent portion in the APAC protein supplement market. Millennials are known to be preferred customers for various proteins and other supplements. Most of them adopt a healthy lifestyle to feel good. They engage in a variety of health-related extracurricular activities, such as practicing gyms and participating in various sports.

Depending on gender, the market for protein supplements is studied in the male and female segments. Between the two demographic segments, the male segment should have greater traction than the female segment, as the male population is seeking supplements to improve performance for various physical activities, while the female population has less preference for it. The male segment is the group focused on performance in health and nutrition. Men seek protein nutrition to improve their performance.

By form, the Asia Pacific market is separated into Protein Bars, RTD Liquid, and Powder. By source, the market is mainly bifurcated as Plant and Animal. The plant-based proteins are determined to expand with a substantial growth rate in the coming years.

Based on the distribution channel, the regional market is separated into specialist sport store, health food store, nutrition store, chemist/drugstore, online, hypermarket/supermarket and others. With the increasing digitization and smartphone penetration, the online segment is predicted to expand rapidly in future.

Impact of covid-19 on Asia Pacific Protein Supplements Market

The Covid-19 pandemic, although, influenced several industries in a negative way, also boosted few industries. One among those positively influenced industries is the protein supplements market. The increasing consumer demand to improve immunity and combat against virus is promoting the call for protein-rich foods, which can be a good news for players in the protein supplements market.

Regional Analysis

The Asia Pacific Protein Supplements market by region is divided into China, India, Japan, Australia, Taiwan, South Korea, New Zealand, and the rest of the Asia Pacific. The APAC area is expected to experience the fastest growth during the outlook period. Demand for protein supplements in the region is touted to increase to a significant CAGR during the assessment period. Increasing middle-class populations in developing countries, with increasing disposable incomes, lifestyle changes, and the workforce, consider protein-fortified foods and food supplements to be a viable option to meet nutritional needs.

Leading Company

Abbott Laboratories had the noteworthy share of the Asia Pacific Protein Supplements Market in terms of sales and revenue in 2019.

Key Players

The Asia Pacific Protein Supplements Market is ruled by some leading players like Vitaco Health Limited, Abbott Laboratories, Suppleform, Maker Nutrition LLC, Herbalife International of America, General Nutrition Corporation (GNC Holdings Inc.), GlaxoSmithKline Plc, Glambia Plc., Amway corporation, and ABH Pharma Inc.