Protein plays a crucial role in every individual's life and has become an essential part of health and fitness diets because of protein and fitness synchronization. Additionally, this micro-nutrient supports in the building of strong bones, lean muscle, and in boosting up the metabolism level as well. Protein dietary supplements are available in various forms such as protein powder, capsules, bars, and Ready-to-Drink protein shakes. Dietary supplements limit the intake of minerals, herbs, vitamins, amino acids, nutrients, and botanical products. Mainly, these supplements are chosen to compensate for medical conditions and diet. Regular intake of protein dietary supplements is necessary as this provides every individual with adequate protein for a day. Herbal food supplements, fitness supplements, amino acid supplements, and iron supplements are some of the major types of dietary supplements that are used to maintain a healthy diet. Thus, the appetite and high-interest level of consumers evaluated the global OTC protein dietary supplements market size at $90.3 billion in 2018, and it is estimated to grow at a CAGR of 8.5% during the forecast period 2019-2025. The continuous expansion in the sports nutrition industry is particularly because of core users and also due to the increasing awareness of benefits associated with the global health and wellness trends. The increasing number of efforts to prolong the healthy lifespan by prioritizing physical activity and healthy diets are contributing to an increment in the protein dietary supplements market revenue.
Muscle building, fatigue reduction, weight loss, and sexual enhancement are identified as some of the positive effects which are attributing for the robust growth in the demand for dietary supplements. Whey protein, egg white protein, and soy protein are repeatedly used as sources of protein dietary supplements, and they are most popular in powdered form. Dietary supplements play a vital role in assisting individual physique development. Whey protein capsules present an over-the-counter (OTC) dietary supplement, which is highly preferred by the bodybuilders and the people who need to supplement their protein consumption. Consultation of a physician in prior hand to the intake of these OTC supplements is highly recommended to avoid dreadful consequences. The widespread availability of protein capsules, and dietary supplements at online retailers, drugstores, and health food stores are indicating the increase in demand for nutrition supplements. Hence, the nutrition supplements application is set to grow at a CAGR of 6.6% all through the forecast period. The rising popularity of protein powders in comparison to ready-to-drink protein products is owing to its longer shelf life and low-cost investment for shipping of these products. Moreover, protein powder prominence in the sports nutrition along with the new formulations in protein bars such as muscle milk protein bar are attracting the consumers to purchase these protein-rich lifestyle products. Furthermore, these factors are also positively impacting the growth of the nutrition supplements in the OTC protein dietary supplements market.
North America OTC Protein Dietary Supplements Market
In 2017, Council for Responsible Nutrition (CRN) survey stated that all-time high usage of supplement in the U.S. is noted majorly among adults, and it accounts for 76 percent dietary supplements consumption, which indicates 5% rise from last year’s results. This growth is a result of the U.S. residents’ trust and confidence associated with the quality, safety, and effectiveness of these dietary supplements. According to the National Institutes of Health, two-thirds of adults, along with one-third of children and youngsters are suffering from obesity. Among the nearly 45% of overweight Americans, 67% are obese and are focusing on losing weight through the consumption of weight-loss dietary supplements. Sports and fitness club members’ preference to consume fewer fats as a part of their weight loss program through the supplementation of fish oil and flax-seed oil dietary supplements. Growing multi-vitamins consumption among millions of Americans, along with the above-mentioned factors, is leading to the dominance of North America in the protein dietary supplements market. The region accounts for a share of 35% in the global OTC protein dietary supplements market. In the U.S., the Food and Drug Administration (FDA) regulates over-the-counter dietary supplements. The FDA and the Federal Trade Commission regulatory actions against manufacturers that deal with unsubstantiated weight-loss product claims, adulterated products marketing, and product recalls. Thus, these regulations concentrate more on the safety considerations on both dietary supplements with prescription and over-the-counter medication.
Trends - OTC Protein Dietary Supplements Marketplace:
· Disease Risk reducer: Dietary supplements are beneficial to health. They primarily handle and reduce the risk related to definite diseases. They are also authorized to mark label claims which describe its use. For example, folic acid supplements may claim risk reduction associated with the congenital disabilities of the brain and spinal cord. However, it cannot make disease claims which include “treats heart disease,” because these supplements are not intended to diagnose, treat, prevent, and even to cure diseases.
· Balanced Diet: Presently, athletes are raising the demand for a well-balanced diet along with people that have nutrition deficiency. The consumers highly prefer protein dietary supplements because protein is the most important thing which is necessary to manage the growth and repair of tissues. In addition to this, these supplements provide essential nutrients such as vitamins and calcium, to maintain a healthy diet.
Major Players in OTC Protein Dietary Supplements Market Include:
Glanbia Plc, AMCO Proteins, Quest Nutrition, NOW Foods, NBTY, MusclePharm Corp, Abbot Laboratories, Cyto Sport, IOVATE, Transparent Labs, and Herbalife International are the OTC protein dietary supplements top 10 companies, which are operating in the OTC protein dietary supplements industry. These players are implementing business strategies to mark their position in the OTC protein dietary supplements market. For instance, a recent development in the protein dietary supplements marketplace is as follows:
On December 19, 2018, GlaxoSmithKline and Pfizer planned to sign an agreement of joint venture to merge their consumer health units. These two pharma giants aimed to represent one of the largest manufacturers of over-the-counter products such as vitamins and dietary supplements, toothpaste, relievers, and cold medicines. It is possible through their dietary supplements and over-the-counter brands. In this joint venture, GSK holds 68%, and the Pfizer holds the rest percentage in this business strategy. Implementation of this joint venture has resulted in the expansion of GSK’s consumer health portfolio coupled with faster growth in the vitamin and dietary supplements business segments. It is due to the active participation of Pfizer. Vitamin and dietary supplements of Pfizer accounts for more than 50% of its consumer health sales worldwide.
Premama is a specialty over-the-counter supplement enterprise. In 2017, this company grabbed an opportunity to expand its range in the maternity health space, which accounts for a $2.5 billion market. This intention targets new millennial moms to represent the growth in the prenatal support and supplements category.
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