In 2024, the global protein powder market was valued at USD 26.9 billion. During the forecast period, the protein powder market to garner a moderate CAGR of 7.60%. By 2034, the market is expected to gain a valuation of USD 55.81 billion by 2034.
| Report Attribute | Details |
|---|---|
| Market Value (2024) | USD 26.9 billion |
| Forecast Value (2034) | USD 55.81 billion |
| Growth Rate (2024 to 2034) | 7.60% |
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Demand in the plant protein market is not bolstered by the high protein content of these powders. Consumers are also comparing its nutrient value with the other protein supplements like bars, gummies and others.
Consumers are considering the nutritional value and easy usage for all of these. Protein powder is thus gaining prominence for its easy to mix and drink nature, along with its high protein content.
Consumers are also focusing on the eco-friendly and sustainable packaging of these products. From sourcing to selling, consumers are inclined towards products that are completely sustainable all throughout its supply chain.
Market players are focusing on trends like clean labels, multiple flavors, and transparent packaging to gain a competitive edge in the global market.
The global demand for the protein powder market was estimated to reach a valuation of USD 19.57 billion in 2019, according to a report from Future Market Insights (FMI). From 2019 to 2023, the protein powder market witnessed a CAGR of 7%.
| Historical CAGR (2019 to 2023) | 7% |
|---|---|
| Forecast CAGR (2024 to 2034) | 7.60% |
Few trends are pushing the growth within the protein powder market globally. These include:
Plant based protein powders - Plant based proteins that are sourced from microalgae, duckweed and others are gaining traction.
Clean label trend - Customers are not only looking at the packaging but also considering the ingredients. They are now opting for more transparent packaging where each of the ingredients and the sources are mentioned clearly.
High Protein Content with Various Flavors are Pushing the Demand
Protein powders are becoming an essential supplement for athletes, bodybuilders and fitness-consciousness consumers.
They are always in search of nutrient dense supplements that aid in gaining muscle recovery and weight management. To support this, protein powders are an ideal option for them.
Market players now experimenting with the flavors, textures and sources of protein for these protein powders. These powders are available in various kinds of flavors like vanilla, chocolate, butterscotch and many more.
They are also available in varied textures like blended, having a crunchier feel and others. Factors as these are gaining the attention of consumers in the plant protein market.
Flavor and Texture Perfections and Overdose may hamper Market Growth
Challenges in flavor and texture optimization, as well as increased production costs compared to traditional proteins, restrict the wider adoption of these protein powders.
Other kinds of protein supplements like bars and gummies also present hurdles for the market. At the same time, increased intake of these protein powders can lead to sever damage in the kidneys and liver.
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This section provides a detailed analysis of two particular market segments for the protein powder, the dominant type, and the source. The two main segments discussed below are whey protein and animal protein powder.
| Type | Whey Protein |
|---|---|
| Market Share in 2024 | 35.3% |
In 2024, the whey protein powder will soar in demand with a 35.3%. Whey protein is a crucial supplement in the treatment of obesity and weight management. It also leads to a slower aging process and promotes bone and cardiovascular health.
It is also proven to boost the immunity system. Owing to its varied benefits, it is going to take a significant position in the global protein powder market.
| Source | Animal Source |
|---|---|
| Market Share in 2024 | 45.3% |
In 2024, the animal protein powder segment to reach a share of 45.3%. Consuming animal protein powder has the following benefits:
These protein powders are rich in lactose, vitamins, and minerals. It helps gym goers and athletes to achieve effective upper body endurance and strength.
This section will detail the protein powder markets in key countries, including the United States, Germany, China, Japan and India. The below section will emphasize the reasons that are pushing growth in each of the regions.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| The United States | 5.6% |
| Germany | 6.6% |
| China | 8.7% |
| Japan | 9.3% |
| India | 7.5% |
The United States protein powder industry to gain a CAGR of 5.6% through 2034. The youth is becoming more inclined towards physical fitness and gym training. They are consuming protein powder to build and maintain muscles to support this.
The protein powder market in Germany is expected to expand with a 6.6% CAGR through 2034. Consumers are slowly becoming flexitarians, that is, consumers of both plant protein and animal proteins. They are becoming aware of the various benefits of protein powders, be it animal or plant-based.
The protein powder ecosystem in China is anticipated to develop with an 8.7% CAGR from 2024 to 2034. Protein powder is gaining traction in China owing to its taste and price. Although it is mostly consumed as a sports nutrition, it's also used as a multipurpose food option. Besides yielding its benefits for bodybuilding in China, consumers also drink it for its high protein content.
The protein powder industry in Japan is anticipated to reach a 9.3% CAGR from 2024 to 2034. Japanese consumers are looking for easy to drink and convenient on the go snacking options. Protein powder drinks are among the popular easy to go drinks for them. With these drinks, they go to achieve their high protein content and fast drinking option fulfilled.
The protein powder ecosystem in India will likely evolve with a 7.5% CAGR during the forecast period. Indian consumers are looking for increased protein content with different blends. They are favoring the plant based whey protein powders more than its counterparts. For example, in 2023, Fast&Up launched the clinically approved plant and whey blend in India.
The global protein powder market players are gaining a competitive advantage by serving consumers with a range of protein powders. This indicates that they are not just serving a particular segment of consumers but beyond that.
They produce protein powders for diet, nutrition and health supplements, sports nutrition, diabetic protein powder, lactating and pregnant women powder, and gym protein.
The key players in this market include:
Key Development by Market Players
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.60% from 2024 to 2034 |
| Market value in 2024 | USD 26.9 billion |
| Market value in 2034 | USD 55.81 billion |
| Base Year for Estimation | 2023 |
| Historical Data | 2019 to 2023 |
| Forecast Period | 2024 to 2034 |
| Quantitative Units | USD billion for value |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Source, Flavor, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Omega Protein; Amway; Abbott Laboratories; Glanbia Group; Herbalife International of America Inc.; Vitaco Health; ABH Pharma Inc.; GlaxoSmithKline; Makers Nutrition; Living Inc. |
| Customisation Scope | Available on Request |
The protein powder market to garner a 7.60% CAGR from 2024 to 2034.
By 2024, the global protein powder market to reach a value of USD 26.9 billion.
By 2034, the protein powder market is poised to reach USD 55.81 billion.
The protein powder industry in the United States to garner a 5.6% CAGR during the forecast period.
The whey protein powder will gain immense popularity along with a 35.3% market share in 2024.
The animal protein powder will surge in demand with a 45.3% market share in 2024.
| Estimated Market Value (2024E) | USD 1,604.3 million |
|---|---|
| Projected Market Revenue (2034F) | USD 4,723.9 million |
| Value CAGR (2024 to 2034) | 11.4% |
| Market Estimated Size in 2024 | USD 58.9 million |
|---|---|
| Projected Market Value in 2034 | USD 234.8 million |
| Value-based CAGR (2024 to 2034) | 14.8% |
| Industry size in 2023 | USD 135.9 million |
|---|---|
| Expected Industry size in 2033 | USD 584 million |
| Forecasted CAGR between 2023 to 2033 | 15.7% |
| Current Year Value (2023) | USD 4.63 billion |
|---|---|
| Expected Forecast Value (2033) | USD 9.07 billion |
| Projected CAGR (2023 to 2033) | 7.4% |
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