The global protein supplements market is picking up notable pace owing an overall shift in attitude among the masses regarding several protein-rich foods, diets, and other substances that can be consumed. The growing popularity of several sports all over has consequently led towards a surge in the number of sportspersons and athletes. Due to this, a rapid rise in the intake of protein-rich foods by sportspersons is consequently driving the global protein supplements market. Such immense benefits associated with protein supplements is surely anticipated to make the market witness boundless growth in future.
The global protein supplements market registers its spread across North America, Asia Pacific excluding Japan (APEJ), Europe, Japan, and the Middle East and Africa (MEA). The increasing interest of people in healthy living and their high disposable income have empowered North America to take the lead among all the regional markets. Progressing at a CAGR of 5.30% over the period from 2017 to 2022, the North America market for protein supplements is projected to remain attractive in the years to come.
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An awareness among potential customers regarding fitness and health has consequently led towards a substantial growth witnessed by the global protein supplements market. This is mainly due to an extensive use of proteins by fitness freaks, adventure enthusiasts, and others who are involved in similar physical and strenuous activities. All these people mainly use the protein supplements owing to their beneficial muscle and tissue building properties. Increasing popularity of soy and pea proteins coupled with a higher rate of consumption of dairy products and eggs has also caused the global protein supplements market to gain widespread growth.
The global protein supplements market had gained revenue worth 2.20 bn in 2017, which is further expected to increase up to 2.84 bn until 2022. This growth is projected to occur at a strong CAGR of 5.30% during the forecast period from 2017 to 2022.
Negligence in Staying Fit Owing to Junk Food Binging Restraints Market
However, volatility in costs as well as availability of protein products has been notably restraining the global protein supplements market in recent times. Fluctuation in manufacturing capacity of products rich in proteins might disturb the demand and supply rates, thus hindering to the market’s growth.
Briskly increasing junk food consumption had caused negligence in various communities to stay health and fit.
This has ultimately led towards less consumption of protein-rich, healthy foods, thereby restraining the global protein supplements market up to a certain extent.
Nevertheless, numerous manufacturers are coming up with less costly products, which is expected to nullify the effects of restraints affecting the global protein supplements market during the forthcoming years.
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Competition is expected to Increase Dramatically over the Next Few Years
The global protein supplements market mainly depicts the presence of a highly fragmented and competitive vendor landscape. This is majorly due to innumerable players operating in the market. With new players entering the market on a regular basis, the competition is expected to increase dramatically in the upcoming future.
Bringing about extensive product innovations for overall development is a prime strategy implemented by most businesses working in the global protein supplements market.
New businesses are expected to enter the competitive scenario every year, as the need for providing better protein supplements to fitness freaks has increased.