Food and Beverages
Global Protein Water Market Size to Grow at a Cagr Of 4.2% During The Forecast Period 2021-2026.
Global Protein Water market size was valued at $1,370 million in 2020, and is anticipated to grow at a CAGR of 4.2% during the forecast period 2021-2026. Protein water is made by combining protein powder such as whey protein isolate or soy protein and water. Depending on the brand of protein water, the protein water is fairly maintained with high protein while providing relatively few calories containing calcium and magnesium that are important for bone health. The global protein water industry growth rate is attributed to the rapid consumer shift towards a healthy lifestyle coupled with the growing awareness regarding the consumption of protein water which is poised in bringing new opportunities. Furthermore, there is a rise in eating of nutritious food and regular exercising owing to the growing importance of protein-rich diet for lean muscle growth over the past decade. Moreover, the need for product customization to suit various consumer needs followed by the necessity for a brand to find innovative ways to market their products is aiding to the growth of stakeholders, thereby potentially raising the demand for various global protein water products. However, the lack of taste and mouth feel is poised to hinder the global protein water market.![]()
Key Takeaways
- Geographically, North America region held the highest market share in 2020. This is owing to the rising high cholesterol level among consumers and increased consumer awareness about health benefits associated with the consumption of protein-based water drinks in the region.
- The factors such as growing awareness regarding the consumption of protein water owing to rise in incidence of consumers towards a healthy eating habits are amongst the major factor projected to impel growth of Global Protein Water market.
- Additionally, factors such as refreshing fruit flavours along with natural colours, flavours, and sweeteners for protein water are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.
Global Protein Water Market Segment Analysis - By Distribution Channel
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Global Protein Water Market Segment Analysis - By Product Type
In 2020, on the basis of product type, flavored segment accounted for the largest segmental revenue of the Global Protein Water market. The flavored held the largest market on account of the fact that this product type acts as an increasing trend in healthy lifestyles, growing market interest in exotic flavours and growing demand for protein water from athletes, and increased investment in sports nutrition. Moreover, this segment is projected to witness healthy growth throughout the forecast period 2021-2026 with a CAGR of 4.80% since there is a change in consumer behavior and understanding of health towards the use of a flavored protein powder in water across the world thereby, allowing it to cater the sector growth during the forecast period 2021-2026.
Global Protein Water Market Segment Analysis - By Distribution Channel
On the basis of distribution channel, convenience stores segment accounted for the largest segmental revenue of the global protein water market in 2020. The large share can be attributed to the fact that there is an increase in spending of money by the customers at such stores in order to meet their demand for a healthy lifestyle. Furthermore, many consumers are trying to avoid busy markets and are less likely to shop around and risk exposure to the virus thereby, augmenting the market hold. On the other hand, online channel segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 4.34%. The online channel segment is to witness a surge in growth owing to the increase in strong investments in providing the best customer service, large discounts on online orders, good product quality and quick delivery methods set to boost segment growth during the forecast period 2021-2026.
Global Protein Water Market Segment Analysis - By Geography
North America is the major region dominating the Global Protein Water market with a market share of 35.9% in the year 2020. This can be attributed to increase in instances of cardiovascular disorders, owing to high cholesterol among consumers in the region followed by the demand for ready-to-eat, ease to carry, all-in-one products, such as protein water that offers a complete package of nutrients are the factors contributing to the growth of the market in North America. However, Asia-Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to rise in spending for health and wellness in the countries of the region.
Global Protein Water Market Drivers
- Rising Demand By The Sports Nutrition Sector
The worldwide protein water market is expected to grow in response to the significant rise in demand for protein water products in the sports nutrition sector, owing to the fact that it provides additional health advantages and nutrients in a bottle of water for the same price. Furthermore, it provides a good supplement to other artificial food beverages with inferior nutritional value, so providing athletes with a whole health benefit in a single package, which has resulted in all major manufacturing businesses working on meeting such a rise.
Global Protein Water Market Challenges
- Lack of Taste
One of the major factors lowering the global protein water unit sales is owing to the lack of taste and mouthfeel in case of unflavored drinks which continues to act as a key barrier when formulating clear protein drinks for the sports nutrition and functional food markets, which is hindering the market growth during the forecast period 2021-2026 as manufacturers of global protein water are being challenged to meet these consumer shifts.
Global Protein Water Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Global Protein Water market. In 2020, Global Protein Water market share is fragmented by the top ten players present in the market. The Global Protein Water market top 10 companies are Protein2o Inc, Aquatein, Drink Fizzique, BiPro USA, Molecule Beverages Ltd, Cend Limited, Vyomax Nutrition, Nutramino, River Collective Limited, and Arla Foods and others.
Acquisitions/Product Launches:
In January 2021, Costco via Protein2o came up with a protein based water offering 70 calories, two grams of carbs, and one gram of sugar per serving. The product comes in a wide variety of naturally-infused fruity flavors such as Orange, Mango, Strawberry and Watermelon.
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