Animal Based Protein Supplements Market Overview 2024: Size, Growth Drivers, and Major Segments
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What is the Expected Growth Rate of the Animal Based Protein Supplements Market for the Period 2024 to 2033?
The animal-based protein supplements market is expected to grow from $28.21 billion in 2023 to $31.04 billion in 2024 at a CAGR of 10.0%, driven by rising health consciousness, changes in dietary preferences, and sports and fitness trends.
The animal-based protein supplements market is expected to experience rapid growth, reaching $47.02 billion by 2028 with a CAGR of 10.9%. This growth is driven by factors such as a rising population, increasing income levels, evolving retail landscapes, sustainability concerns, and regulatory support. Key trends include product innovation, the synergy between plant-based and animal-based products, technological advancements, clean labels, customization, digital marketing, and fortified formulations.
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What Factors Are Responsible for the Growth of the animal based protein supplements Market?
The animal-based protein supplements market is expected to grow with the rising number of health-conscious consumers. The global health-conscious population is predicted to increase from 108 million in 2020 to 176 million in 2026. Post-pandemic, 70% of Indians prioritize dietary changes for overall health. This increasing health consciousness drives the demand for animal-based protein supplements.
Which Segments Are Important for Insight into the Animal Based Protein Supplements Market?
1) By Product: Protein Powder, Protein Bars, Ready-To-Drink, Other Products
2) By Raw Materials: Whey, Casein, Egg, Fish, Other Raw Materials
3) By Application: Pharmaceuticals and Nutraceuticals, Food and Beverages, Infant Formulations, Cosmetics and Personal Care, Animal Feed, And Dietary Supplements
4) By Distribution Channel: Supermarkets And Hypermarkets, Online Stores, Chemists or Drugstores, Specialty Stores, Other Distribution Channels
What Are the Significant Trends Reshaping the 25 Sector?
Product innovations are emerging as a prominent trend in the animal-based protein supplements market. Major companies in this market are focusing on developing new technological solutions to fortify their market positions. For instance, in 2021, GoodSport Nutrition, a US-based healthy sports drink manufacturer, launched the GoodSport sports drink, a natural sports drink made from 97% dairy. This drink delivers three times more electrolytes and 33% less sugar than conventional sports drinks. Research indicates that milk hydrates more effectively than other sports beverages and water.
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Which Regions Are Essential for the Growth of the Animal Based Protein Supplements Market?
North America was the largest region in the animal-based protein supplements market in 2023. 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, Africa
The Animal Based Protein Supplements Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the animal based protein supplements market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Animal Based Protein Supplements Market Include
1. Animal Based Protein Supplements Market Executive Summary
2. Animal Based Protein Supplements Market Segments
3. Animal Based Protein Supplements Market Size And Template Market Growth Rate
4. Key Animal Based Protein Supplements Market Trends
5. Major Animal Based Protein Supplements Market Drivers
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25. Key Mergers And Acquisitions In The Animal Based Protein Supplements Market
26. Top Animal Based Protein Supplements Companies
27. Animal Based Protein Supplements Market Opportunities And Strategies
28. Animal Based Protein Supplements Market, Conclusions And Recommendations
29. Appendix
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