Australia Protein Supplements Market Size & Outlook
Australia protein supplements market, 2018-2030 (US$M)
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Australia protein supplements market highlights
- The Australia protein supplements market generated a revenue of USD 160.1 million in 2023 and is expected to reach USD 281.9 million by 2030.
- The Australia market is expected to grow at a CAGR of 8.4% from 2024 to 2030.
- In terms of segment, animal based was the largest revenue generating source in 2023.
- Plant Based is the most lucrative source segment registering the fastest growth during the forecast period.
Protein supplements market data book summary
| Market revenue in 2023 | USD 160.1 million |
| Market revenue in 2030 | USD 281.9 million |
| Growth rate | 8.4% (CAGR from 2023 to 2030) |
| Largest segment | Animal based |
| Fastest growing segment | Plant Based |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Animal Based, Plant Based |
| Key market players worldwide | Glanbia PLC, MusclePharm Corp, Abbott Laboratories, PepsiCo Inc, NOW Foods, Transparent Labs, RSP Nutrition, Symrise AG, Quest Nutrition, Iovate Health Sciences International, AMCO Proteins, Nutrabolt, Dymatize Enterprises, BPI Sports, BRF SA ADR, Rousselot, Gelita AG, Hoogwegt |
Other key industry trends
- In terms of revenue, Australia accounted for 2.5% of the global protein supplements market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China protein supplements market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 427.9 million by 2030.
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Protein Supplements Market Scope
Protein Supplements Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Australia protein supplements market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to protein supplements market will help companies and investors design strategic landscapes.
Animal based was the largest segment with a revenue share of 58.03% in 2023. Horizon Databook has segmented the Australia protein supplements market based on animal based, plant based covering the revenue growth of each sub-segment from 2018 to 2030.
The rising veganism trend and growing demand for plant-based protein supplements are key factors propelling the Australian protein supplements market. This trend can be mainly attributed to increasing awareness about the health benefits of plant-based diets and growing concerns about the environmental impact of meat production.
In line with this trend, players in the protein supplements market are looking to expand their footprint and offerings in Australia with the help of various strategies. For instance, in May 2021, U.S.-based agri food company Bunge invested USD 30.6 million in Australian Plant Proteins (APP), a distribution and packaging company for plant-based powder with its headquarters in Australia.
Bunge's investment was aimed at helping APP accelerate the expansion of its plant-protein isolate fractionation facilities and increase the output of its plant-protein isolates by March 2022.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia protein supplements market , including forecasts for subscribers. This country databook contains high-level insights into Australia protein supplements market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia protein supplements market size, by source, 2018-2030 (US$M)
Australia Protein Supplements Market Outlook Share, 2023 & 2030 (US$M)
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