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According to The Business Research Company’s research report on the animal based protein supplements market, the increasing number of health-conscious consumers is expected to drive the growth of the animal-based protein supplement market going forward. The number of people focusing on their health and nutrition has been increasing globally in recent years, due to which people are more aware of completing the daily protein requirement and its importance in bodily functions. To complete the protein requirement, people are moving towards animal-based protein supplements, which in turn is resulting in the growth of the demand for animal-based protein supplements. For instance, in March 2022, according to Avendus Capital, an India-based financial services firm, consumers who are concerned about their health are predicted to increase from 108 million in 2020 to 176 million in 2026. In addition, after the pandemic, 70% of Indians said they would prioritize dietary changes to improve their overall health. Therefore, the increasing number of health-conscious consumers is driving the demand for animal-based protein supplements.
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The global animal based protein supplements market size is expected to grow from $23.20 billion in 2021 to $25.33 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The animal-based protein supplements market is expected to grow to $34.39 billion in 2026 at a CAGR of 7.9%.
Product innovations have emerged as the key trend gaining popularity in the animal-based protein supplement market. Major companies operating in the animal-based protein supplement market are focused on developing new technological solutions to strengthen their position in the market. For instance, in 2021, GoodSport Nutrition, a US-based healthy sports drink manufacturing company, launched the GoodSport sports drink, a first-of-its-kind natural sports drink made from 97% dairy. The drink delivers three times more electrolytes and 33% less sugar than a conventional sports drink. According to the firm, research has shown that milk hydrates more effectively than other sports beverages and water.
Major 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.
The global animal based protein supplements market is segmented by product into protein powder, protein bars, ready-to-drink, other products; by raw materials into whey, casein, egg, fish, other raw materials; by application into pharmaceuticals and nutraceuticals, food and beverages, infant formulations, cosmetics and personal care, animal feed, and dietary supplements; by distribution channel into supermarkets and hypermarkets, online stores, chemists or drugstores, specialty stores, other distribution channels.
North America was the largest region in the animal-based protein supplements market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the animal based protein supplements market overview are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Animal Based Protein Supplements Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide animal based protein supplements market forecast size and growth, animal based protein supplements market segments and geographies, animal based protein supplements market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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