The global protein supplements market is projected to exhibit a significant growth, at a CAGR of around 7.0%, during the forecast period. The demand for protein supplements is continuously increasing across the globe due to the rising consciousness amongst public related to health. The increasing trend for physical exercise has significantly stimulated the market growth across the globe. Moreover, the rising disposable income and continuous growth in the health and fitness centers, such as gym, have been offering growth to the protein supplements market. Realizing these factors, many new entrants as well as other dietary supplements market players are launching newer and novel products in the global market. In the past 2-3 years, a number of protein supplement products are launched in India-
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- In September 2019, MuscleBlaze introduced a Biozyme Whey protein powder series, especially for the Indian market. The company launched #WheyForIndia campaign for the Indian gym-goers. All protein products offered by the company are covered under its sports-nutrition category and are designed keeping in the mind the type of the Western body and dietary habits the people follow in India. The product is clinically tested on Indian bodies, which offered result for 50% higher absorption as compared to other whey proteins available in the market, as it has Enhanced Absorption Formula(tm) (EAF).
- In April 2020, EspererOnco Nutrition, an India-based start-up launched first-of-its-kind product, a series of nutrition supplements for the cancer patients. The series includes a set of three products for cancer patients at different stages of treatment, before, during, and post. The ingredients contained in the products include milk protein and prebiotics and probiotics. The product is available in the market in the form of powder packets. These series of products are designed to maintain nutrition level in cancer patients and further alleviate problems, such as weight loss. The company has started its distribution in a number of hospitals in India, which includes HCG hospitals and Apollo Hospitals.
- GSK consumer healthcare Ltd., a division of GlaxoSmithKline PLC introduced a new consumer segment in February 2018 that serves nutritional products to the Indian men. The company launched Horlicks Protein+, a protein supplement developed and manufactured in India. This protein supplements have been growing at significant growth rate of more than 20% annually in India. As per the company’s press release, around 46% of GSK’s revenue comes from South India, followed by East India with 36%, while the remaining comes from exports (8%), North India (7%) and West India (3%). Through Horlicks Protein+ for men, the company is expecting a growth even in the weaker regions of the country.
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Global Protein Supplements Market-Segmentation
By Technology
- Whey Protein Supplement
- Pea Protein Supplement
- Casein Protein Supplement
- Others (Soy Protein Supplement)
By Source
- Animal-based
- Plant-based
By Form
- Powder
- Bars
- Ready-to-drink
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