(MENAFN- GlobeNewsWire - Nasdaq) New York, Nov. 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Animal Based Protein Supplements Global Market Report 2022: Ukraine-Russia War Impact' -
The global animal-based protein supplements market 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, effecting 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%.
The animal-based protein supplements market consists of sales of animal-based protein supplements by entities (organizations, sole traders, partnerships) that are used to complete the daily requirement of protein for the body and to enhance muscle synthesis and growth of lean muscle mass.Animal-based protein supplements are protein supplements extracted from animal sources, including eggs, milk, and collagen.
Animal-based protein supplements are considered an excellent source of protein since they have all the essential amino acids and are considered a complete protein. They also have a more neutral taste and are blended easily.
The main product types of animal-based protein supplements are supplements, protein powder, protein bars, ready-to-drink, and others.Protein powders are a convenient way of consuming protein and can be enriched with added enzymes, vitamins, and minerals to improve their nutritional value.
The different raw materials include whey, casein, eggs, fish, and others that are used in pharmaceuticals and nutraceuticals, food and beverages, infant formulations, cosmetics and personal care, animal feed, and dietary supplements. It is distributed through several channels such as supermarkets and hypermarkets, online stores, chemists' or drugstores, specialty stores, and others.
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 report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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.
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.
In February 2022, Nestlé Health Science, a Switzerland-based nutrition company, acquired Vital Proteins for an undisclosed amount.The acquisition would help Nestlé add another brand to its vitamin, mineral, supplement, and wellness portfolio.
Vital Proteins is a US-based producer and marketer of animal collagen-based protein supplements.
The countries covered in the animal-based protein supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The animal-based protein supplements market research report is one of a series of new reports that provides animal-based protein supplements market statistics, including global market size, regional shares, competitors with an animal-based protein supplements market share, detailed animal-based protein supplements market segments, market trends and opportunities, and any further data you may need to thrive in the animal-based protein supplements industry. This animal-based protein supplements market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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