Australia protein
supplement market is expected to reach USD218.56 million by 2027F, growing at a
CAGR of 7.23% during the forecast period. Australia protein supplement market
is mainly driven by rising urbanization, increasing per capita income, surging
sales through e-commerce, rising demand from the young and adults, etc.
Furthermore, increasing young adults and women demand fat-free, nutritious
products to maintain their weight, which is another important reason driving
protein supplement demand in Australia. Furthermore, the protein supplement
market is driven by rising disposable income and a growing focus on having an
active and healthy lifestyle in Australia.
Various socioeconomic
factors, such as urbanization and population aging, are projected to have a
favorable impact on product demand. Furthermore, increased concerns about
obesity, a desire for vegan protein sources as a result of rising veganism and
spending on health-related items are all predicted to boost the demand for
goods in the near future.
Rising Disposable Income
Fueling the Market Growth
Rapid gains in the
combined income of family members results in additional discretionary income
for consumers, boosting their spending power significantly. As a result, a
growing percentage of consumers are unwilling to sacrifice product quality
regardless of price. As a result of increased disposable money, the Australia
protein supplement is profiting from such customer behavior.
As disposable income
levels have improved, consumers' spending power has increased, resulting in
higher living standards. Consumers are more concerned with their health and the
availability of branded and high-quality protein supplements, which is
supporting the expansion of the protein supplement market across the country.
Growing Demand for Ready
to Drink Drives the Market Growth
Ready to drink protein
beverages are gaining popularity due to their convenience, such as being
lightweight and ready to drink right away. These products are manufactured from
a variety of high-protein ingredients to suit people's daily nutritional needs
and are seen as a convenient method to get nutrients on the go. These items are
gaining popularity, especially among athletes and anyone who engages in
strenuous physical activity.
Greater consumption of such items is also driven
by a growing emphasis on staying fit and in shape, as well as increased
participation in sports, health clubs, sports clubs, and gyms. As a result,
market participants are concentrating their efforts on the launch of ready to drink
protein products. For example, Glanbia released a carbonated ready to drink
(RTD) beverage in 2018 that has 100mg of naturally sourced caffeine and 5mg
amino acid combination.
Research and Development
for Innovative Products Drive the Market Growth
The abundance of talent
available worldwide encourages R&D units to develop products at a lower
cost. To serve their clients better, protein supplement manufacturers are
experimenting with cutting-edge innovations, such as making their products
without using any fatty acid or other chemicals. The advancement of this
innovation is one of the main factors driving Australia's expansion of protein
supplement manufacturing companies.
Growing Preference of
Online Market Aiding Market Growth
With high and steadily
expanding internet penetration, an increasing proportion of Australian
consumers prefer to buy things through online channels. Online sales, backed up
by a variety of distribution networks and logistics, can let manufacturers
reach key parts of Australian cities without having to set up shops. Customers
are also shifting towards purchasing protein supplements online due to many
variables such as the broad range of products to compare, discounts, and offers
offered online.
Click here to download the sample
Market Segmentation
The Australia protein
supplement market is segmented based on product type, raw material,
application, distribution channel, region, and competitional landscape. Based
on product type, the market is categorized into protein powder, protein bar,
ready to drink, and others {cereals, cookies, etc.}. Based on raw materials,
the market is segmented into whey, casein and dairy alternatives. In terms of
distribution channel, the market is further fragmented into
supermarkets/hypermarkets, specialty stores, online and others {pharmacies,
direct selling, etc.}.
The market is also segmented into applications which are
further divided into sports nutrition and functional food. The market analysis
also studies the regional segmentation to devise regional market segmentation,
divided among Australia Capital Territory & New South Wales, Victoria &
Tasmania, Queensland, Northern Territory & Southern Australia and Western
Australia.
Company Profiles
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. and
others, are among the major market players in the protein supplement industry
that led the market growth of the Australia protein supplement market.
|
Attribute
|
Details
|
|
Market Size
Value in 2021
|
USD145.75 Million
|
|
Revenue
Forecast in 2027F
|
USD218.56 Million
|
|
Growth Rate
|
7.23%
|
|
Base Year
|
2021
|
|
Historical Years
|
2017 – 2020
|
|
Estimated
Year
|
2022E
|
|
Forecast
Period
|
2023F– 2027F
|
|
Quantitative
Units
|
Revenue in USD Million, and
CAGR for 2017-2021 and 2022-2027F
|
|
Report Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments Covered
|
·
Product Type
·
Raw Material
·
Application
·
Distribution Channel
·
Region
·
Company
|
|
Regional Scope
|
Australia
Capital Territory & New South Wales, Victoria & Tasmania, Queensland,
Northern Territory & Southern Australia and Western Australia
|
|
Key Companies
Profiled
|
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., etc.
|
|
Customization
Scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and Purchase
Options
|
Avail customized
purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/pdf format on special request)
|
Report Scope:
In this report, Australia protein
supplement market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
- 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:
o Australia Capital Territory & New
South Wales
o Victoria & Tasmania
o Queensland
o Northern Territory & Southern
Australia
o Western Australia
·
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in Australia protein supplement market.
Available
Customizations:
With
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).