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San Francisco, January 24, 2022 /PR Newswire/ — Worldwide Animal-Based Protein Supplements Market Estimated size arrive $22.26 billion By 2028, according to a new report from Grand View Research, Inc. expected Expand at a CAGR of 7.4% from 2020 to 2028. Growing fitness and physical activity among consumers has increased nutritional awareness, thereby positively impacting the market growth.
The whey ingredients market dominated the global market in 2020 owing to its high protein content. Furthermore, it is increasingly being used as a protein source for fortified functional and nutritious foods, and its demand is expected to increase further over the forecast period.
Key insights and findings from the report:
- By raw material, the whey segment dominated the market with a share of over 55.0% in 2020.This is attributed to its health benefits such as building muscle, lowering blood pressure, promoting fat loss, reducing stress and inflammation, repairing muscle tissue, lowering cholesterol levels, and promoting overall health
- The ready-to-drink product segment is expected to register the highest CAGR of 7.8% over the forecast period.This is attributable to the growing product demand from fitness enthusiasts and the changing fitness landscape globally, as well as high consumer demand for convenience
- By distribution channel, the online store segment is expected to grow at the fastest rate during the forecast period.The convenience of multiple brands, the penetration of the Internet in developing countries, and the ease of shopping are the key factors driving the growth of online retail sales
- In 2020, the sports nutrition application segment accounted for the largest share, exceeding 60.0%, due to the increase in the number of consumers concerned with self-care, preventive medication and fitness activities, as well as the increase in lifestyle diseases such as diabetes and obesity
- North America Dominate the market with a share of over 45.0% in 2020.Factors driving the market growth in this region include rising healthcare costs, rapid advancements in science and technology, growing geriatric population, and growing interest in achieving health through diet
Read the 130-page market research report, “
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