Increasing understanding of diseases induced by protein deficiencies is pushing consumers to incorporate protein supplements in their busy lifestyles.
According to TechSci Research report, “Australia Protein Supplement Market By Product (Protein Powder, Protein Bar, Ready to Drink, and Others (Cereals, Pan Cake, Breads, etc.)), By Raw Material (Whey, Casein, and Dairy Alternatives), By Distribution Channel (Supermarkets/Hypermarkets, Departmental Store, Online, Others (Departmental Store, Pharmacies, Direct Selling, etc.)), By Application, (Sports Nutrition, and Functional Foods), By Region, By Company, Forecast & Opportunities, 2026” the Australia protein supplement market size valued at USD90.67 million in 2020 is projected to grow around at a CAGR of over 5.19% during the forecast period 2021-2026 to reach around USD121.09 million by 2026 due to increased visibility of health and wellness centers and consumer health consciousness. Increasing popularity among millennials, along with the production of innovative protein-based supplements in various forms, coupled with the multiple health benefits of the product are some factors driving the growth. Moreover, a positive outlook for sports nutrition due to the growing importance of active lifestyles and increasing awareness of protein health benefits is projected to play a key role in encouraging the use of supplements.
Browse 21 market Figures spread through 70 Pages and an in-depth TOC on“ Australia Protein Supplement Market “
Based on product type, the market is fragmented into protein powder, protein bar, and ready to drink. The ready to drink segment is projected to grow significantly in the coming years advancing with a CAGR of 5.77% during the forecast period 2021-2026. Ready to drink and protein supplements are pre-formulated beverages that are readily available. These drinks deliver a high dose of protein that can be consumed in the pre-workout, post-workout, or on the go. Such products are easily absorbed by the body, encourage muscle recovery, and help in lean muscle development. Improved demand for sports nutritional supplements, combined with increasing demand for simple and readily available supplements, is expected to boost growth throughout the forecast period.
Factors such as strong online sales, retail distribution networks, and a growing number of stand-alone retail brands by different companies are expected to drive growth. Increased competition from bodybuilders, professional athletes, and casual trainers is expected to further fuel the growth of the segment in the coming years.
Based on raw material, the Australia protein supplement market is split into whey, casein, and dairy alternative. The whey segment holds the largest share of around 52% of the Australia protein supplement market as whey is the first form of protein and is used as an ingredient in maximum protein products.
Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, departmental store, online, others (Departmental Store, Pharmacies, Direct Selling, etc.). Supermarket segment holds the largest market share with around 31% in 2020, as supermarket offers a wide range of products at a lower price. The rising availability of nutritional supplements in organized retail stores is a significant factor fueling the selling of protein supplements. Also, the growing product offering has led retailers, such as supermarkets and hypermarkets, to provide protein supplements, thus promoting purchases.
Based on application, the market is further split into sports nutrition and functional foods. The sports nutrition segment accounted for about 65% of the overall market share in 2020. Growing demand for sports nutritional supplements from heart, power, athletic activities, fitness enthusiasts, and professional athletes is expected to boost demand. In addition, increased demand for sports nutritional supplements to promote lean muscle development, improve endurance, stamina, and weight loss is projected to drive development. The functional food segment is expected to have a significant market share over the forecast period. Efforts to lead a safe and active lifestyle, combined with an increasing awareness of the link between exercise and maintaining a balanced and nutrient-rich diet are driving demand for protein-rich functional foods and beverages.
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“Rising prevalence of health problems such as obesity, malnutrition, and poor immune systems has led consumers to increase their consumption of protein-rich food & beverages which contain whey, casein and plant-based protein such as dietary supplements, sports nutrition products, and ready-to-eat foods,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Australia Protein Supplement Market, By Product (Protein Powder, Protein Bar, Ready to Drink, and Others (Cookies, Pastry etc.)), By Raw Material (Whey, Casein, and Dairy Alternatives) By Distribution Channel (Supermarkets/Hypermarkets, Departmental Store, Online, Others (Specialty, Direct Selling, etc.)), By Application, (Sports Nutrition, and Functional Foods), By Region, By Company, Forecast & Opportunities, 2026” has evaluated the future growth potential of Australia Protein Supplement market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Australia Protein Supplement market.
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