The global protein water market is projected to reach a valuation of USD 1,187.1 million by the end of 2023. From 2023 to 2033, it is expected to grow at a compound annual growth rate (CAGR) of 8.3%, potentially reaching USD 2,634.9 million by 2033.
The growing demand for value-added ingredients in the food and beverage industry is a major driving force, fueled by consumers’ eagerness to explore new flavors and textures.
Intense competition within the industry has led manufacturers to enhance the taste and quality of their products, contributing to the growth of the protein water market.
Moreover, the significant expansion of the global functional food sector has driven a rising demand for protein water among fitness enthusiasts, athletes, and individuals seeking to increase their protein intake while staying hydrated.
Protein water provides extra health benefits and essential nutrients in a convenient and affordable package, making it an attractive option for today’s consumers.
As a more nutritious alternative to other packaged foods and beverages with lower nutritional value, protein water stands out as an excellent supplement. It delivers a comprehensive range of health benefits in a single, convenient container.
Key Takeaways from Protein Water Market Study
- The protein water market expanded at a CAGR of 5.1% during the historical period from 2018 to 2022.
- The United States protein water market is anticipated to broaden at a robust CAGR of 7.3% in the next ten years.
- China protein water industry is likely to be valued at US$ 208.4 million by 2033.
- India protein water market is estimated to elevate at a CAGR of 4.4% from 2023 to 2033.
- By source, the plant-based protein segment is predicted to generate a share of around 70% by the end of 2023.
Competitive Landscape
The competitive landscape of the global protein water market is driven by both national and international players. Manufacturers are focused on expanding their global presence to increase market share and revenue.
To achieve this, they are enhancing production capacities in regions such as North America, Asia Pacific, and Europe, where access to raw material suppliers is advantageous. Leading companies are also pursuing mergers and acquisitions, along with new product launches, as key strategies to stay competitive in the market.
For instance,
- In November 2022, Vieve, a reputed vegan water start-up headquartered in the United Kingdom, announced its plan to become more sustainable. It is aiming to reduce carbon emissions, and has planted more than 12,000 trees in the last twelve months. The company wants to plant a tree for every 5 packs of protein water purchased.
- In July 2022, Aquatein, a Mumbai-based start-up firm, launched India’s First Protein Water in three new flavors. The product is set to help individuals to maintain a balance between regular nutrition and daily life.
Key Companies Profiled
The hut.com Ltd; BioTech USA; Sigma Lifesciences; Garden State Nutrition; SI03, INC; Hint Inc.; Celsius Holdings; pepsico; Vital Proteins LLC; Now Health Group; Protein Works; Applied Nutrition Ltd.; USN UK Ltd; Iovate Health Sciences Inc; VPA Australia; Influx Healthcare; Soulfuel; The Vita Coco Company, INC; Drink TATU
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Protein Water Market Outlook by Category
By Product Type:
- Ready-to-drink/ Liquid
- Ready-to-mix/ Powder
By Flavor:
- Original/ Unflavored
- Flavored
- Vanilla
- Chocolate
- Tropical
- Peach
- Strawberry
- Orange
- Mango
- Watermelon
- Lemon
- Mixed Berry
- Black Grape
- Others (Cranberry and Green apple)
By Packaging Type:
- Bottle
- Sachet
- Box
- Tetra Pack
- Pouch
- Bottle Can
By Source:
- Plant-based Protein
- Animal-based Protein
By Distribution Channel:
- Commercial/ Food Service
- HoReCa
- Quick Service Restaurants (Sandwicheries, Fast Casual, Coffee Shops)
- Retail/ Household/ B2C
- Hypermarkets/ Supermarkets
- Convenience Stores
- Specialty Stores
- Drug Stores/ Pharmacy/ Wellness Centers
- Traditional Grocery Retailers/ Mom and Pop Stores/ Discount Stores/ Independent Small Groceries
- Airport Retail
- Travel Retail (Airplanes, Cruise Ships, and Others)
- Online Sales
- Company Website
- Gross Merchandiser
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
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