The global animal based protein supplements market grew from $25.59 billion in 2022 to $28.02 billion in 2023, at a compound annual growth rate (CAGR) of 9.5%. The market is expected to grow to $40.07 billion in 2027 at a CAGR of 9.4%.
What are animal protein supplements
Animal-based protein supplements refer to dietary supplements of animal source, high in protein, which can be part of a healthy lifestyle, and to enhance muscle synthesis and growth of lean muscle mass. Animal protein supplements are considered an excellent source of protein because they have all the essential amino acids and are considered a complete protein.
Animal-based protein supplements are extracted from animal sources, including eggs, milk, collagen, whey and beef protein isolate.
They come in all types and forms, including supplements, protein powders and bars, ready-to-drink shakes, and others. Protein powders are a convenient way of consuming animal protein and can be easily enriched with enzymes, vitamins and minerals to improve their nutritional value.
What is driving the market growth
The number of people focusing on their health and nutrition has been increasing globally in recent years, driving the demand for animal-based protein supplements.
North America was the largest region in the animal-based protein supplements market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecasted period.
The number of health conscious consumers is predicted to increase from 108 million in 2020 to 176 million in 2026, according to Avendus Capital. Besides a steady number of Americans who have a preference for dietary supplements, post-pandemic, 70% of Indians said they would prioritize dietary changes to improve their overall health.
What are the major players in the animal-based protein supplements market
The main players in the animal-based protein supplements market are Glanbia plc, Abbott Laboratories, CytoSport Inc., MusclePharm Corporation, Iovate Health Sciences International Inc., AMCO Proteins, WOODBOLT DISTRIBUTION LLC, Quest Nutrition, NOW Foods, Transparent Labs, The Bountiful Company, Dymatize Enterprises LLC, BPI Sports LLC, JymSupplementScience, RSP Nutrition, and International Dehydrated Foods Inc.
These companies distribute their products through several channels such as supermarkets and hypermarkets, online stores, drugstores, specialty stores, and others.
The market growth is driven by innovation
Product innovations are the key trend in the animal-based protein supplement market. Companies playing in this category are focused on delivering new technological solutions to strengthen their position in the market.
In 2021, GoodSport Nutrition, a US-based healthy sports drink manufacturing company, launched the GoodSport sports drink. This is a first-of-its-kind natural sports drink made from 97% dairy. GoodSport delivers three times more electrolytes and 33% less sugar than a conventional sports drink. The company shows that milk hydrates more effectively than other sports beverages and water.
In February 2022, Nestlé Health Science, a Switzerland-based nutrition company, acquired Vital Proteins, a US-based producer and marketer of animal collagen-based protein supplements.
This acquisition would help Nestlé add another brand to its vitamin, mineral, and supplements portfolio, and consolidate its position in the wellness market.