Portland, July 22, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the U.S. Protein Supplement Market was pegged at $1.92 billion in 2019, and is expected to reach $3.58 billion by 2028, growing at a CAGR of 7.7% from 2021 to 2028.
Rise in awareness among people for health & fitness, surge in disposable income, and increase in demand for supplement from the Millennial population drive the growth of the U.S. Protein Supplement Market. In addition, alarming rise in obesity rates supplements the market growth. However, availability of cheaper alternatives and side-effects and negative publicity & claims hinder the market. On the contrary, increase in demand from the young population is expected to open lucrative opportunities for the market players in the future.
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- Since the Covid-19 outbreak, people have become concerned about their health and wellness. More and more people are more conscious about their dietary decisions, immunity, and weight gain, which favored the demand for protein supplements.
- Chronic illnesses such as diabetes and obesity could increase the chance of getting infected with Covid-19. Thus, the demand for protein supplements increased in the U.S. to combat such diseases and lead a healthier lifestyle.
U.S. Protein Supplement Market is segmented on the basis of type, form, source, gender, age group, and distribution channel.
Based on type, the soy protein segment is expected to register the highest CAGR of 8.8% during the forecast period. However, the whey protein segment held the largest share in 2019, accounting for nearly two-fifths of the market.
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On the basis of form, the RTD liquid segment is anticipated to manifest the highest CAGR of 8.7% during the forecast period. However, the powder segment held the lion’s share in 2019, contributing to more than three-fourths of the market.
Based on distribution channel, the e-commerce segment dominated the market in 2020, holding nearly one-fifth of the market. Moreover, the segment is expected to register the highest CAGR of 8.5% from 2021 to 2028.
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The U.S. Protein Supplement Market report includes an in-depth analysis of the prime market players such as ABH Pharma Inc., Abbott Laboratories, Glanbia Corp., Amway Corporation, Herbalife International of America Inc., GlaxoSmithKline, GNC Holdings, Bob’s Red Mill, Nutiva Inc., and MusclePharm Corporation.
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