According to Future Market Insights (FMI), the protein water market size is projected to be worth US$ 1,187.1 million by 2023. From 2023 to 2033, a CAGR of 8.3% is predicted to be achieved. By 2033, it is expected to provide an estimated US$ 2,634.9 million in value.
Growing demand for ingredients that add value to the end product in the food & beverage industry is a key driving force. It is aided by consumers’ desire to try new food items with distinct flavors and textures.
Due to intense competition in the food & beverage industry, manufacturers have improved the taste and quality of their goods. It is set to result in the expansion of the protein water market.
The global functional food industry has expanded significantly. It has resulted in a constantly increasing demand for protein water from fitness enthusiasts, athletes, and people looking to boost their protein consumption while staying hydrated.
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Protein water offers additional health advantages and nutrients in a bottle of water at a reasonable price. The property is making it a good choice for modern consumers.
In place of other packaged food & beverages having less nutritional value, it serves as an excellent supplement. Protein water also offers consumers a whole range of health benefits in a single container.
Recent years have seen a significant rise in terms of demand for protein-rich diets as a result of changing lifestyles and increasing health consciousness. Protein water improves nutrient absorption, which boosts immunity and prevents health problems. Strengthening the immune system also aids in overcoming restlessness and maintaining a healthy lifestyle.
However, the consumption of protein water is not enough as it is packed with a significant protein punch. It misses the mark to meet the recommended daily intake of protein.
Shifting to protein water as a primary source of protein and energy might strip off the body. It can also affect carbohydrates and proteins, which are necessary for post-workout recovery. It is one of the key factors restraining growth in protein water demand globally.
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.
“It is anticipated that in the projected time frame, worldwide per capita spending on food & beverages will increase. Consumers today have become more concerned with the ingredients in their meals. They have started reading the ingredient lists on numerous products. It has further led to the introduction of novel goods such as protein water with essential elements tailored to certain needs.” – Says a lead analyst.
Competitive Landscape
The existence of significant national and international competitors might fuel the competitive environment of the global protein water market. To increase shares and profits, manufacturing companies are primarily focused on extending their global footprints.
They are expanding their production capacity throughout numerous continents, including Europe, Asia, and North America. It is as a result of the accessibility and availability of providers of raw materials. Leading businesses are also using mergers & acquisitions and new product launches as important competitive strategies.
Key companies profiled in the protein water industry 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 and others.
Key Market Developments:
- In 2021, Protein2o collaborated with Spikeball. It was Protein2o’s first nationwide sponsorship. It resulted in Protein2o being featured on the side-lines of Spikeball ESPN broadcasts, on social media, and in the hands of their athletes. The collaboration increased Protein2o’s visibility among millennials and gen-Z.
- In 2021, Ready announced a joint venture collaboration with Highmark Health. It aims to improve the health and nutrition of athletes living in areas serviced by Allegheny Health Network, a provider system of Highmark Health.
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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