DUBLIN--(BUSINESS WIRE)--The "Australia Protein Supplement Market, By Product Type (Protein Powder, Protein Bar, Ready to Drink, and Others), By Raw Material (Whey, Casein and Dairy Alternatives), By Application, By Distribution Channel, By Region, Competition Forecast & Opportunity, 2027" report has been added to ResearchAndMarkets.com's offering.
The Australian Protein Supplement Market value was USD145.75 million in the year 2021, which is anticipated to grow with a CAGR of 7.23% during the forecast period, 2023-2027, to achieve the market value of USD218.56 million by 2027.
The Australian Protein Supplement Market is anticipated to grow on the back of increasing demand for supplement food. Rising concerns regarding health and increasing inclination among the population towards bodybuilding and muscle development, majorly among the male population, are driving the growth of the Australian Protein Supplement Market in the upcoming five years.
Factors like rising urbanization, increasing per capita income, surging sales through e-commerce are some of the major factors supporting the growth of the Australian Protein Supplement Market in the next five years.
Increasing health-conscious population demanding fat-free and nutritious products to maintain their weight is further aiding the market growth since protein, the most important nutrient, is supplied through such supplements minus the excessive fat components.
Higher disposable income available to the consumer is also majorly aiding the growth of the Australian Protein Supplement Market in the forecast years through 2027. Through research on the product and development of the advanced product through more nutritious and customized products, the market players are also substantiating the growth of the Australian Protein Supplement Market in the forecast period.
The Australian Protein Supplement Market is segmented by product type, raw material, application, distribution channel, regional analysis, and competitive landscape.
Based on product type, the market is further fragmented into protein powder, protein bar, ready to drink, and others like cereals, pancakes, cookies, etc. Protein powder is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of increasing demands from muscle-building and bodybuilding consumers.
Increasing number of events of bodybuilding and competitions further aid the demand for protein powder, thus driving the growth of the Australian Protein Supplement Market in the next five years. Protein bars are also expected to hold significant shares of the market due to the increasing inclination towards quick breakfast consumers.
The population is highly focused on maintaining their fat consumption in check and thus is opting for protein supplements with the necessary nutrients and flavored breakfast bars.
Objective of the Study:
- To analyze the market size of the Australian Protein Supplement Market from 2017 to 2020
- To estimate and forecast the market size the Australian Protein Supplement Market from 2021 to 2022 and growth rate until 2027
- To classify and forecast the Australian Protein Supplement Market based on product type, raw material, application, distribution channel, regional analysis, and competition landscape
- To identify dominant region or segment in the Australian Protein Supplement Market
- To identify drivers and challenges for the Australian Protein Supplement Market
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Australian Protein Supplement Market
- To identify and analyze the profile of leading players operating in the Australian Protein Supplement Market
- To identify key sustainable strategies adopted by the market players in the Australian Protein Supplement Market
Company Profiles:
Detailed analysis of the major companies present in the Australian Protein Supplement Market.
Major Market Players
- Vitaco Health Australia Pty Limited
- Glanbia Performance Nutrition Pty Limited
- Hi-Performance Health Pty. Ltd.
- Freedom Foods Group Limited
- Lovate Health Sciences Australia Pty Limited
- MusclePharm Australia Pty Limited
- Bioflex Nutrition Pty Ltd
- Body Science International Pty Ltd
- Genetix Nutrition
- True Protein Pty. Ltd.
Report Scope:
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
Australia Protein Supplement Market, By Product Type:
- Protein Powder
- Protein Bar
- Ready to Drink
- Others
Australia Protein Supplement Market, By Raw Material:
- Whey
- Casein
- Dairy Alternatives
Australia Protein Supplement Market, By Application:
- Sports Nutrition
- Functional Food
Australia Protein Supplement Market, By Distribution Channel:
- Supermarkets/Hypermarkets
- Specialty Stores
- Online
- Others
Australia Protein Supplement Market, By Region:
- Australia Capital Territory & New South Wales
- Victoria & Tasmania
- Queensland
- Northern Territory & Southern Australia
- Western Australia
For more information about this report visit https://www.researchandmarkets.com/r/7x8dtc
