Australia Protein Supplements Market to Surpass USD218.56 Million until 2027
Australia protein
supplements market is anticipated to grow with rising disposable income during
the forecast period, 2023-2027F.
According to TechSci report on, “Australia Protein
Supplements Market
- By
Region, Competition Forecast & Opportunities, 2027”,
Australia protein supplements market is expected to reach a market value of
USD218.56 Million by 2027F, growing with a CAGR of 7.23% during the forecast period,
2023-2027. This market growth is anticipated due to increasing demand for
protein supplements and healthy food demands from the consumers in the country.
Rapidly
growing health concerns among the population and their inclination toward body
building and muscle gaining routines & food habits is also expected to
drive the growth of the Australia protein supplement market in the upcoming
five years. Moreover, expanding nutraceutical industry in the country is one of
the major reasons responsible for the growth of the Australia protein
supplement market in the next five years.
Rising
number of health-conscious population opting for effective nutraceuticals to
enhance their health conditions and consume more nutritive food, indirectly
affects the growth of the Australia protein supplement market in the future
five years. The Australia protein supplement market is also gaining momentum in
the recent years due to growing popularity of protein supplements among the
millennials, and their inclination toward balanced diet to achieve muscle gain
and body building targets.
Also,
consumption of natural diet due to sedentary lifestyle and busy schedules have
influenced the adult & young adult consumers to opt for supplements in the
form of powder, drinks, etc. thereby aiding the growth of the Australia protein
supplement market in the forecast years through 2027F.
Government
initiatives toward promotions of health management, and aggressive promotions
and advertisements of the products from the market players would also
substantiate the growth of the Australia protein supplement market in the
forecast period.
Browse over 28 market
data Figures spread through 83 Pages and an in-depth
TOC on "Australia Protein
Supplements Market"
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The
Australia protein supplement market is segmented by product type, raw material,
application, distribution channel, regional analysis, and competition
landscape. Based on raw materials, the market is segmented into whey, casein
and dairy alternatives. Whey protein as a raw material for the protein
supplement is anticipated to hold the largest revenue shares of the market in
the upcoming five years and dominate the market due to increasing demands for
the whey protein.
Higher
nutrient content, higher protein concentration along with easier to digest
advantage of the whey protein has increased the popularity of the product among
the consumers and therefore driving the growth of the Australia protein
supplement market in the next five years. Moreover, availability of whey
protein in the form of powder also supports the growing demand and growth of
the Australia protein supplement market in the future five years.
The
market is also segmented into applications which is further divided into sports
nutrition and functional food. Sports nutrition 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 sports events.
A
partial list of major market players of the Australia protein supplements
market includes:
·
Vitaco
Health Australia Pty Limited
·
Glanbia
Performance Nutrition Pty Limited
·
Hi-Performance
Health Pty. Ltd.
·
Freedom
Foods Group Limited
·
Iovate
Health Sciences Australia Pty Limited
·
MusclePharm
Australia Pty Limited
·
Bioflex
Nutrition Pty Ltd
·
Body
Science International Pty Ltd
·
Genetix
Nutrition
·
True
Protein Pty. Ltd.
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“Nutraceutical industry is
expanding in the country at an exponential rate. The demand for the nutrient
supplements like protein supplements are bound to increase due to availability
of the innovative product development. Through research the market players are
advancing the nutrient content of the supplements thus enhancing the demand for
the products in the future five years. Government initiatives in promoting
weight management products, muscle growth products, and other nutritional
products would also support the growth of the market in the next five years.
New market players may focus on online distribution channels to expand their
business horizons. Sports nutrition trends have potential to expand the market
growth in upcoming five years. New market players may form collaborations or
partnerships with the sports & events operators to promote their products
among the sports person and other consumers,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Australia Protein
Supplements Market By Product Type (Protein Powder, Protein Bar, Ready to
Drink, and Others {Cereals, Pan Cakes, Cookies, etc.}), By Raw Material (Whey,
Casein and Dairy Alternatives), By Application (Sports Nutrition and Functional
Food), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores,
Online and Others {Pharmacies, Direct Selling, etc.}), By Region, Competition
Forecast & Opportunity, 2027F” has evaluated the future growth potential of Australia
protein supplements market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Australia protein
supplements market.
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