Asia Pacific Protein Supplements Market To Grow At 8.8% CAGR Till 2033
The Asia Pacific protein supplements market size was exhibited at USD 2.12 billion in 2023 and is projected to hit around USD 4.53 billion by 2033, growing at a CAGR of 8.8% during the forecast period 2024 to 2033.
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Asia Pacific Protein Supplements Market Key Takeaways:
The rising demand in the protein supplements industry in this region can be attributed to a major paradigm shift in consumer preferences. Millennials’ interest in health and wellness is augmenting the growth of protein supplements making it the key driving factor.
The Asia Pacific protein supplements market held a share of 24.2% of the global protein supplements market revenue in 2023. The target consumers are growing more conscious about their health amidst the rise of obesity and environmental sustainability. From the environmental consciousness perspective, plant-based proteins emit fewer greenhouse gases, use fewer natural resources, and have a low ecological footprint. Regarding nutritional and dietary preferences, plant-based products such as soy proteins are gaining popularity as an alternative to dairy and meat proteins in the APAC region. The market is also inclining toward veganism. With culinary innovation and technological advancements in the food industry, the sector is acting up as the next best substitution for animal-based protein since it is more cost-effective and has similar nutritional attributes.
Although the market is witnessing a robust transition to the plant-based protein sector, with countries like China and India, APAC is still dominated by the quality-centric animal-based protein supplements market. Moreover, soy protein is gaining momentum as a high-quality substitution for poultry, livestock, and aquaculture. These proteins improve immunity, help prevent cardiovascular diseases, and promote bone health.
Furthermore, the sports culture and fitness nutrition sub-segment dominates the market. There is a growing demand for fortified ingredients and products with high stability and longer shelf life. Most target consumers are upgrading their fitness regime with a high intake of protein supplements and keeping track of their health with cutting-edge gadgets.
Plant-based proteins use spirulina, pea, and pumpkin seeds as supplements in the form of shakes, smoothies, and energy drinks. They have displayed considerable improvement in terms of market demand as they are significant vegetarian protein sources. For instance, pea protein is fat, gluten, and cholesterol-free, which attracts a large customer base. In addition, manufacturers of wheat and hemp are attempting to improve in reducing the distinctive starchy aroma.
Asia Pacific Protein Supplements Market By Source Insights
The animal-based protein supplements segment dominated the market with a share of 55.0% in 2023. Proteins, such as whey, casein, egg, and fish, are the key sources as animals have greater protein concentration than plants or other sources. Athletes/bodybuilders are the key demographic in the animal-based protein segment, as these supplements are highly effective in building muscles and weight & muscle management. Consumers can easily avail these supplements, including dry-mix beverages and protein shakes, from online stores or supermarkets that offer vast options. Hence, the market will likely exhibit significant growth in the coming years.
Asia Pacific Protein Supplements Market By Product Insights
The protein powder segment held a share of over 50.0% in 2023. Since consumers are becoming more health-conscious, there is a high demand for protein powders in regular diets to help gain muscle mass, manage weight, and improve overall wellness. Whey is found to be the most effective protein powder for healing the tissues post-workout. Protein powder comes in various forms including dairy and plant-based powders which make them both versatile and flexible. It can be mixed with water or milk beverages or used as an ingredient in various food products to suit preferred tastes. Major companies offer protein powders in assorted flavors, ingredients, and packaging to attract more consumers.
Asia Pacific Protein Supplements Market By Application Insights
The sports nutrition segment held a revenue share of 64.0% in 2023. Nutritional supplements for sports and activity are ideal for fitness enthusiasts, bodybuilders, and athletes. Manufacturers are introducing several products such as RTD protein shakes, low pH, nutritional beverages, or dry mix beverages in the sports nutrition segment. These supplements ensure building endurance and core strength. Additionally, gym-goers prefer these protein supplements as they aid in developing lean muscles, improving performance, managing weight, and boosting stamina.
Asia Pacific Protein Supplements Market By Distribution Channel Insights
The online store segment held a share of 48.0% in 2023. Since most consumers have easy access to the Internet, the sales of online distribution channels are rapidly growing. Online stores offer easy access to different brands depending on individual preferences and affordability, balancing today’s agile lifestyle. Hence, consumers find it more convenient to shop online. Online platforms also provide discounted products, seasonal offers, and an easy check-out process, which further helps in brand promotion and increased sales.
The supermarket segment is expected to grow at a CAGR of 8.6% over the forecast period. These markets perform in-depth consumer analysis, they offer products that consumers prefer the most, build brand credibility and even keep premium price points as target consumers are willing to pay for their products. Supermarkets offer a huge variety of options so that consumers can compare the pros & cons and quality of each product, before making a purchase.
Country Insights
China Protein Supplements Market Trends
The China protein supplements market accounted for a dominant share of 20.0% in 2023. Whey protein is the most widely consumed protein in the Chinese market. As whey protein offers antimicrobial, prebiotic, and hypertensive properties, it is most used in sports nutrition. These proteins exhibit excellent digestibility in all grades. The plant-based protein segment has also highlighted a major share where soy and hemp have spiked considerably while substituting as more convenient alternatives to traditional diets.
India Protein Supplements Market Trends
The protein supplements market in India is expected to grow substantially with a CAGR of 8.8% during the forecast period. Even though animal-based proteins stand dominant in the Indian market, the plant-based supplement segment is anticipated to grow substantially over the forecast period. Furthermore, Indian consumers are becoming conscious of the health benefits of outdoor sports, making sports nutrition a dominant segment.
Some of the prominent players in the Asia Pacific protein supplements market include:
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Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Asia Pacific protein supplements market
Source
Product
Application
Distribution Channel
Country
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That market's booming! More folks are ditching meat for plant-based options, huh? Makes sense with health and eco concerns on the rise. Vijay Anger