As the consumer of protein powder, the bigger picture of the market is unimportant and uninteresting. We go to the store, or online, buy the protein, open it, then use it. This standard routine among protein drinkers is simple and straight to the point. However, there is a whole other side of buying protein powders that we don’t really know about or frankly care about. Well, behind the curtain lies the protein powder market. Not a place where you buy protein powders, but protein powders in its entirety. Today’s article, I’m explaining what is the protein powder market and why we should care about it. Stay tuned!
Protein Supplement Industry
The protein powder market consists of all the different types of protein powders there is that you can buy. The most recent protein powder you bought or currently have with you is in the protein market. Proteins like casein, whey, egg, soy, and others have secured the market for consumers to buy from.
The protein powder market is part of an even bigger industry known as the protein supplement industry. Protein powders, protein bars, and other protein-provided products are listed in this market. As of 2019, the value of the protein supplement market is estimated to be around USD 17.55 billion.
That’s quite a lot of value, it goes to show you how much protein supplements have grown in popularity and significance. It’s hard to believe that in 2018, the market was valued at around USD 7.23 billion. It’s grown quite a lot, for many reasons which I’ll discuss in a bit.
However, what many people, including maybe you, the reader, is how the market will do moving forward. Especially during the COVID-19 crisis, we’re going through right now. Will this pandemic cause drops in the value in the market? The forecast predicts actually says otherwise.
The Market Growing Gains
According to the analyst team of “Grand View Research,” they predict that by 2027, so in seven years, the value of the protein supplement market will be at USD 23.3 billion. That’s about a billion-dollar increase almost every year, which is fantastic for the industry. But why do experts forecast this value? Well, it’s precisely due to the ripple effect of COVID-19 on the market.
There’s been a sudden strong growth in nutrient-related food products, and a rise in health awareness, easy to guess why. A rise in consumer health consciousness has forced individuals to keep their health at best they can. In doing this, an increase in the use of supplements is being observed on the market.
The benefits of using protein powder is something that really entices millennials. A millennial, or Generation Y, are individuals born between 1982 – 2000 who are currently being cautious with their health at this point in time. Protein powders provide advantages, including muscle repair, energy boost, and weight loss, which are undoubtedly going to stay in demand. Was there ever a time in your life when someone didn’t want to look lean or slim?
The demand for wanting a six-pack, muscles, or just a flat stomach will simply continue to rise. Especially considering the next generation, we have to come; Generation Z. Individuals born between the mid-late 90s and early 2010s are categorized in this generation. We can tell from this generation that other than being digitally active, they’re spontaneous and curious.
In the forthcoming years, the demand for certain types of people will grow. A rise in bodybuilders, elite athletes, and casual exercisers is anticipated to grow with protein powders. The ready to drink protein supplements will be easily available pre-workout, post-workout, or just on the go anywhere.
What To Do With This Information?
While it’s nice and dandy that the value of the market of our beloved protein powders will go up, how does that affect us, the consumer? Well, if you know a thing or two about investing, this is something worth looking in to. Growth in a sector forecasted by many different sources is a good sign of investing in something.
Now, I’m not saying you should throw all your money into one protein supplement share and just wait out the seven years, not at all. Unfortunately, if you want to learn to invest or buy stocks, this website is not the place for you. I’m solely reporting what recent studies/reports have shown about protein powders, especially in a time like this.
Do some of your own research to learn how to properly invest. Find the best corporations to invest online on websites or blogs to see where you’d like to put your money in to. You now know that the market for protein powders is only going to grow for years to come.
In conclusion, what is the protein powder market? Simply put, it’s the industry in which protein powders all fall in to. The market is part of an even bigger industry called the protein supplement industry, which includes the likes of protein bars, and others. The market has seen some steady growth in value over the years, and it appears that it will only keep rising according to forecasters. This is a moment in time to do some research and take action, for the cause of the recent COVID-19 epidemic, investing may be worth looking into.
Got any questions? Leave them down below, along with any comments you may have!