It’s no surprise that the protein powder market is rising rapidly. Protein powder and other goods rich in protein and minerals have become among the high-demand products to sell. Business owners also benefit from the increased usage of these products. You can find protein powder drinks in bars and ready-to-drink options in convenience stores. The restaurant industry also benefits from the trend and offers various protein-rich options on their menus. That helps businesses maximize profits as these menu items usually have a higher profit margin. In this article, we’ll shed some light on the state of the protein powder industry and what are the expected future trends in this niche market.
Current State of the Protein Powder Market
According to the data gathering website Statista, the size of the global protein powder market was 27 billion dollars in 2022. It’s estimated to hit 37 billion in the next five years and more than 47 billion in ten years. A large portion of these numbers is attributed to the most popular whey protein variety.
Main Drivers of the Protein Powder Market
There are multiple reasons why the protein powder market is growing. Let’s see some of the main drivers for the increased demand of these products.
- An increased number of people going to the gym and exercising. The main application of protein products is to help muscle regeneration and growth. Therefore, it’s no surprise that their demand rises as more people work out.
- Application as an animal nutrition supplement. Manufacturers from the animal feed industry also utilize the benefits of protein powder. That’s why its usage in the feed compounding industry is expected to double in the next 10 years.
- Increase in eCommerce sales. Online trade has made it more convenient for people to purchase various products. The same is true in the protein powder market. A lot of people purchase their protein-based supplements from the physical stores of specialized retailers or from grocery stores. However, online sales of supplements have increased a lot after 2020.
Key takeaway: The protein powder market is rapidly growing worldwide. The main reason for that is the increased number of people who purchase supplements. In addition to protein powder, businesses also sell other products such as protein bars, pasta, popcorn, ready-to-drink beverages, and more.
Future Trends in the Protein Powder Market
The current state of the protein powder market can help us understand its future. Here are some of the trends that are expected to continue shaping the industry in the next five to ten years.
- Increased sales of plant-based options. Even though whey protein is the most popular one, some consumers are shifting towards dairy-free alternatives or plant-based options.
- Additional ingredients and superfoods. Some protein powder brands combine their products with other nutrients such as vitamins and minerals. Protein powder varieties with probiotics, fiber, or antioxidants have also increased in popularity.
- Innovative taste and formats. Businesses that trade with protein powder find suppliers who also offer other related products. Whether it’s ready-to-drink beverages or protein food products, their demand is surging.
- Subscriptions. Many websites offer customizable subscription options for their regular customers. These businesses purchase products at wholesale prices and sell them at retail rates.
- Clean labeling. An increasing number of consumers are looking for products that have minimal additives and sweeteners. That’s why labeling is very important in the retail and wholesale supplements industry.
- Sustainability. Brands have shifted their focus towards sustainable packaging and products to answer the demand of environmentally-conscious consumers. Responsibly sourced ingredients and biodegradable or recyclable packaging will become more important in the future.
- Protein snacks. Products such as protein bars, ready-to-drink shakes, and protein popcorn are just some of the snacking options available. They are convenient and easy to consume.
Business Opportunities in the Protein Powder Market
Starting a company in the protein powder industry can be a fruitful and profitable endeavor. The market is still not very consolidated and there are multiple opportunities to stand out from the rest. Here are some business ideas related to protein powder.
- Custom protein blends. People often need a customized approach when it comes to supplements. That’s a potential business niche to exploit. Offer consultations and custom mixes to health-conscious customers.
- Start your own protein powder brand. The usual way to start such a business is to invest in manufacturing equipment and start selling your own products. However, research for producers who can offer white-label services.
- Create educational materials and content. Currently, video content is the most popular type. You can create educational videos on the subject of protein supplements and use them to earn revenue from ads. Furthermore, you can sign up for different affiliate programs and add another revenue stream.
- Start an eCommerce business. The easiest way to do so is via the dropshipping method. Find reliable suppliers of supplements and other exercise-related products. Although profit margins for dropshipping websites are lower, there’s less risk for a startup business. In addition, you won’t need to worry about warehousing and fulfillment.
Frequently Asked Questions about the Protein Powder Market
At BlueCart, we aim to help entrepreneurs find out about the opportunities in different business niches. So whether you’re planning to start a company in the protein powder market or you already run such a business, the answers to some frequently asked questions will help you achieve your goals.
What Are the Protein-Rich Alternatives to Powder?
Organic products like different types of yogurt, legumes, and meat are the most common protein-rich food products. However, the demand for more protein-rich foods has led to the creation of other alternatives as well. For example, protein pasta is becoming increasingly popular. Other common protein-rich products include:
- Protein bars;
- Peanut butter and other types of nut butter;
- Protein drinks;
Of course, high-quality animal products like eggs, meat, and dairy are still considered to be among the best options for people who wish to increase their protein intake. Fish that is rich in omega-3 fatty acids and amino acids is also an excellent choice for people who wish to eat healthily.
What Are the Most Popular Types of Protein Powder?
Whey protein is probably the most common type on the market. The main feature that makes it so popular is that whey protein is digested very quickly. This makes it excellent for consumption after a workout and not as a nighttime protein. Although whey protein is considered to be the most common option, here are other popular choices in the protein powder market.
- Mixed proteins. They combine animal-based and plant-based amino acids. This makes them a more complete solution.
- Pea protein. It’s one of the most common vegan options. It contains all essential amino acids.
- Egg protein. Similar to whey protein, protein powder made of egg whites is also a great option for muscle building and recovery. Furthermore, this is a dairy-free alternative that is suitable for lactose-intolerant people.
Who Buys Protein Powder?
Protein powder businesses sell their products to a wide range of customers. People who purchase retail or wholesale protein products are usually young or middle-aged. They exercise often and strive to live a healthy lifestyle. A large percentage of customers prefer to buy protein powder from an eCommerce store. Customers who have little to no knowledge of the field might choose to visit a brick-and-mortar store in order to get a consultation and better customer service.
Businesses usually purchase wholesale protein powder. They used it for various protein powder recipes like drinks or protein-rich desserts.