North America Protein Supplements Market

North America Protein Supplements Market Size Analysis Report 2022 - 2027:

North America Protein Supplements Market size was expected at USD xx million in 2021 and is anticipated to reach an extent of USD xx million with a considerable CAGR throughout the conjecture period (2022 - 2027).

Protein supplements are consumed along with a proper diet to increase protein intake. Some of the proteins are produced for specific purposes, such as whey protein for faster protein release and casein protein for slower protein release. Protein supplements are different from amino acid supplements because the latter are consumed in small doses for a specific purpose. Protein powder is made from animal and plant sources.

REPORT COVERAGE:

North America Protein Supplements Market Recent Developments

1. In December 2018, Unilever published about its contract for buying nutritional and consumer health products in the Asia-Pacific. This acquisition is likely to support Unilever to expand its product portfolio of health products.
2. In October 2018, PepsiCo confirmed its acquisition of 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 increasing popularity of Millennial, as well as the development of innovative protein supplements in different forms, combined with the many health benefits of the product, are some of the main growth factors. Also, the positive outlook towards sports nutrition due to the increasing importance of active lifestyles and an increased awareness of the health benefits of protein should play a crucial role in promoting the use of supplements. Factors such as hectic lifestyles and increasing health awareness are expected to drive overall market growth in North America. Additionally, increased functional benefits, including muscle repair, increased energy, and weight loss, are expected to increase fuel demand. The increasing use of meal replacement snacks and the demand for greater traceability and authenticity of ingredients are other factors that may increase the demand for protein supplements in the near future. Various socio-economic factors, especially rising disposable income, urbanization, and aging populations, should have a positive impact on product demand. Furthermore, growing concerns about obesity, a preference for vegan protein sources due to increased veganism, as well as increased spending on health products, are expected to fuel demand for the products in the near future. The increasing penetration of organized retail and electronic commerce should further stimulate demand in the coming years.

A significant increase in gym membership, particularly in the North-America region, as well as increased health and fitness awareness among millennials, supported primarily by their strong disposable income, should further stimulate demand for protein supplements. Along with physical activity, millennials prefer to include protein powder in the diet. This trend is expected to positively influence North America protein supplements market growth during the forecast period. Increased consumption of packaged nutritional food products, such as protein bars and ready-to-drink (RTD) products. The introduction of healthy products by various manufacturers is expected to further stimulate market growth.

North America Protein Supplements Market Segmentation:

The North America Protein Supplements Market can be divided into Type, Form, Source, Distribution Channel, Age Group and Gender.

By form, the protein powder segment registered about 64.0% of the North American protein supplement market in 2019. Factors such as strong online sales, mass distribution channels and the growing number of brands mass self-sufficiency is expected to drive growth in this segment.

By type, the whey protein segment accounted for the prominent share due to the growing demand for bodybuilders, elite athletes and casual trainers is expected to further fuel growth in the segment in the coming years. The sports nutrition segment had around 66.8% of overall market share in terms of revenue in 2019. The growing demand for sports nutrition supplements from core athletes, strength, endurance, weekly weekend warriors, fitness enthusiasts and professional athletes must stimulate demand for whey protein. Additionally, the rising need for sports nutrition supplements to improve muscle growth, performance, endurance, and weight loss is determined to support business growth.

By distribution channel, the online store segment had around 59.5% of the total market share in 2019. The increasing number of Internet users, ease of access, 24/7 availability and many options to choose from are the factors driving the online sales. In addition, discussion portals, product discounts and offers, and the implementation of various promotional strategies will drive online sales during the forecast period.

By source, the animal segment had around 67.9% of the total share in terms of revenue in 2019. As a result, the segment is expected to drive growth in the overall market during the outlook period.

By age group, the North American protein supplements market is separated into baby boomers, Generation X and millennial. Of these, the millennial segment is foreseen to record the substantial growth in the regional market in the coming years. By gender, the local market is bifurcated into male and female, of which, the male segment dominated the regional and worldwide business.

Impact of covid-19 on North America 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 good news for players in the protein supplements market.

Regional Analysis:

The North America Protein Supplements market has been divided into regions of the United States, Canada, Mexico and rest of North America. It was the largest regional market in 2019 with a 50.3% share in terms of turnover and is likely to maintain its privileged position throughout the forecast period. Led by countries like the United States and Canada, the regional market has seen an increase in the call for nutritional supplements for athletes. From the point of view of raw material supply, the main players operating in the region benefit from an abundant supply of raw materials, which facilitates large-scale production in the area.

Leading Company

Glanbia Plc had substantial share of the North America Protein Supplements Market in terms of sales and revenue in 2019.

Key Players

The North America Protein Supplements Market is concentrated with well-established players. Key players in the Speciality Fats and Oils Market include Transparent Labs, Glanbia Plc, IOVATE, Cyto Sport, Abbot Laboratories, MusclePharm Corp, NBTY, NOW Foods, Quest Nutrition, and AMCO Proteins.