australia protein supplement market forecast 2026

MARKET INTELLIGENCE . CONSULTING

www.techsciresearch.com

AUSTRALIA PROTEIN SUPPLEMENT MARKET

FORECAST & OPPORTUNITIES

2016 – 2026

2

Scope of ReportProduct of Interest (POI): Protein Supplement

Review Period

2016 – 2019

Base Year

2020

Estimated Year

2021

Forecast Period

2022 – 2026

Year Range

Protein supplements are one of the most popular dietary supplements used byathletes, recreationally active adults, and soldiers striving to increase muscle mass,improve exercise recovery, and improve performance. Based on the source, theseprotein supplements can be segregated into animal-based protein and plant-basedprotein.

MARKET SEGMENTATION

RAW MATERIAL

• Whey

• Casein

• Dairy Alternatives

REGION

• Australia Capital Territory

& New South Wales

• Victoria & Tasmania

• Queensland

• Northern Territory &

Southern Australia

• Western Australia

PRODUCT

• Protein Powder

• Protein Bar

• Ready to Drink

• Others

DISTRIBUTION CHANNEL

• Supermarkets/Hypermarkets

• Departmental Store

• Online

• Others (Cereals, Pan Cake, Breads,

etc.)

APPLICATION

• Sports Nutrition

• Functional Foods

3

Table of Contents

Contents

1. Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)

2.Research Methodology (A detailed methodology on how we have derived the market related information and what are the measures that has been taken to validate the data.)

3. Impact of COVID-19 on Australia Protein Supplement Market

4. Executive Summary (This chapter covers summary of the complete study.)

5. Voice of Customer

5.1. Product Awareness

5.2. Brand Recall & Awareness

5.3. Brand Propensity

5.4. Factors Influencing Purchase Decision

6.Australia Protein Supplement Market Outlook, 2016-2026F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.)

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast (The overall product of interest bifurcated/split among various segments. )

6.2.1.By Product (Protein Powder, Protein Bar, Ready to Drink, and Others (Cereals, Pan Cake, Breads, etc.))

6.2.2. By Raw Material (Whey, Casein and Dairy Alternatives)

6.2.3. By Application (Sports Nutrition and Functional Foods)

6.2.4.By Distribution Channel (Supermarkets/Hypermarkets, Departmental Store, Online, Others (Cereals, Pan Cake, Breads, etc.))

6.2.5. By Region

6.2.6. By Company (2020)

4

Table of Contents

Contents

6.3. Market Map (By Product, By Distribution Channel, By Region)

7. Australia Protein Powder Market Outlook, 2016-2026F


7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Application

7.2.2. By Distribution Channel

8. Australia Protein Bar Market Outlook, 2016-2026F


8.1.1. By Value




9. Australia Ready to Drink Market Outlook, 2016-2026F


9.1.1. By Value




5

Table of Contents

Contents

10. Australia Other Protein Supplement Market Outlook, 2016-2026F


10.1.1. By Value




11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. Policy & Regulatory Landscape

14. Australia Economic Profile

15. Competitive Landscape

15.1. Competition Outlook

15.2. Company Profiles (Leading 10 Companies)

15.2.1. Company Details

15.2.2. Products & Services

15.2.3. Financials (As Reported)

15.2.4. Key Market Focus & Geographical Presence

6

Table of Contents

Contents

15.2.5. Recent Developments

15.2.7. Key Management Personnel

16. Strategic Recommendations

17. About Us & Disclaimer

RESEARCH METHODOLOGY

8

Research Methodology

✓ Identifying Key Opinion

Leaders

✓ Questionnaire Design

✓ In-depth Interviews

Data Collection

Developing List of Respondents

Formulating Questionnaire

Market Profiling

Data Validation

Data Analysis

In-depth secondary research was conducted to

determine top players in the Australia protein supplement market,

overall market size and segmental market size.

In order to conduct industry experts’

interviews, TechSci formulated a detailed

discussion guide.

List of industry players and industry

specialists was developed.

TechSci conducted interviews with

industry experts and industry players for data collection and

verification.

Data obtained as a result of primary and secondary research was

validated through rigorous

triangulation.

The data was scrutinized using MS-Excel, statistical

tools and internal proprietary database to obtain qualitative and

quantitative insights about the Australia protein supplement market.

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights

BusinessSolution

Primary Research Desk Research Company Analysis

✓ Recent Developments

✓ Market Changing

Aspects/Dynamics

✓ Government Policies

✓ Conclusion

✓ Market Participants

✓ Key Strengths

✓ LinkedIn✓ TechSci Internal

Database

✓ Factiva✓ Hoovers

Paid Sources

✓ Company Websites✓ Company Annual

Reports✓ White Paper Study✓ Financial Reports✓ Investor

Presentations✓ Regulatory Body✓ Associations, etc.

Secondary Research

Primary Research

9


Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of Australia protein supplement market. The team has

analyzed the outlook of various segments of this market, while considering the major influencing factors such as growing consumers awareness

for protein based products. The study includes market forecasting, which would enable our clients to take better decisions while planning their

strategy to achieve sustainability in Australia protein supplement market.

Methodology Followed for Calculation of Market Size:

• Market Size by Value & Volume : Market size, in terms of value & volume, for the year 2020 was calculated based on information collected

through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as protein supplement

companies, suppliers, channel partners, end users, industry experts, and other industry participants.

• The team interviewed more than 40 – 50 protein supplement companies, suppliers, 180 – 200 end users, 15 – 20 industry experts and other

value & volume chain stakeholders in the Australia protein supplement market to obtain the overall market size from 2016 to 2020, which was

validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size

data during 2016-2020.

10


• Respondents were asked about the current and future market growth rates, market shares by raw material, by product, by distribution

channel, by application, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier

wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated

across various segments were further triangulated from other stakeholders.

Methodology Followed for Calculation of Market Shares:

Market shares by raw material, by product, by distribution channel, by application, by region and by company were calculated based on the

responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue

generated from various segments of protein supplement market. The final shares were calculated by taking the geometric mean of the

responses gathered from key opinion leaders after eliminating the outliers.

Methodology Followed for Forecasting:

• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in

SPSS/Tableau Software.

• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Australia

protein supplement market, TechSci Research used various forecast techniques such as:

✓ Moving Average

✓ Time Series Analysis

✓ Regression Analysis

✓ Econometric and Judgmental Analysis

11


TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research

also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It

should be noted that the figures compiled are only for the organized market including market share data.

Partial List of Companies Interviewed Key Secondary Sources

▪ Vitaco Health Group Limited

▪ Glanbia plc

▪ Aminoactive Pty. Ltd

▪ Freedom Foods Group Trading Pty Ltd

▪ Iovate Health Sciences International Inc.

▪ MusclePharm Corporation

▪ Genetix Nutrition

▪ Body Science International

▪ True Protein Pty Ltd

▪ Bulk Nutrients

▪ World Bank

▪ TechSci Research Proprietary Database & Knowledge

Repository

▪ Company Annual Reports

▪ Industry Magazines

▪ Industry Reports

▪ Statista

▪ News Dailies

▪ Credible Paid Databases

12

Industry Brief

According to TechSci Research report, “Australia Protein Supplement Market By Product (Protein Powder, Protein Bar, Ready to Drink, and Others (Cereals,

Pan Cake, Breads, etc.)), By Raw Material (Whey, Casein, and Dairy Alternatives), By Distribution Channel (Supermarkets/Hypermarkets, Departmental Store,

Online, Others (Departmental Store, Pharmacies, Direct Selling, etc.)), By Application, (Sports Nutrition, and Functional Foods), By Region, By Company,

Forecast & Opportunities, 2026” the Australia protein supplement market size valued at USD90.67 million in 2020 is projected to grow around at a CAGR of over

5.19% during the forecast period 2021-2026 to reach around USD121.09 million by 2026 due to increased visibility of health and wellness centers and consumer

health consciousness. Increasing popularity among millennials, along with the production of innovative protein-based supplements in various forms, coupled

with the multiple health benefits of the product are some factors driving the growth. Moreover, a positive outlook for sports nutrition due to the growing

importance of active lifestyles and increasing awareness of protein health benefits is projected to play a key role in encouraging the use of supplements.

Based on product type, the market is fragmented into protein powder, protein bar, and ready to drink. The ready to drink segment is projected to grow

significantly in the coming years advancing with a CAGR of 5.77% during the forecast period 2021-2026. Ready to drink and protein supplements are pre-

formulated beverages that are readily available. These drinks deliver a high dose of protein that can be consumed in the pre-workout, post-workout, or on the

go. Such products are easily absorbed by the body, encourage muscle recovery, and help in lean muscle development. Improved demand for sports nutritional

supplements, combined with increasing demand for simple and readily available supplements, is expected to boost growth throughout the forecast period.

Factors such as strong online sales, retail distribution networks, and a growing number of stand-alone retail brands by different companies are expected to drive

growth. Increased competition from bodybuilders, professional athletes, and casual trainers is expected to further fuel the growth of the segment in the coming

years.

Based on raw material, the Australia protein supplement market is split into whey, casein, and dairy alternative. The whey segment holds the largest share of

around 52% of the Australia protein supplement market as whey is the first form of protein and is used as an ingredient in maximum protein products.

Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, departmental store, online, others (Departmental Store,

Pharmacies, Direct Selling, etc.). Supermarket segment holds the largest market share with around 31% in 2020, as supermarket offers a wide range of

products at a lower price. The rising availability of nutritional supplements in organized retail stores is a significant factor fueling the selling of protein

supplements. Also, the growing product offering has led retailers, such as supermarkets and hypermarkets, to provide protein supplements, thus promoting

purchases.

Based on application, the market is further split into sports nutrition and functional foods. The sports nutrition segment accounted for about 65% of the overall

market share in 2020. Growing demand for sports nutritional supplements from heart, power, athletic activities, fitness enthusiasts, and professional athletes is

expected to boost demand. In addition, increased demand for sports nutritional supplements to promote lean muscle development, improve endurance, stamina,

and weight loss is projected to drive development. The functional food segment is expected to have a significant market share over the forecast period. Efforts to

lead a safe and active lifestyle, combined with an increasing awareness of the link between exercise and maintaining a balanced and nutrient-rich diet are

driving demand for protein-rich functional foods and beverages.

“Rising prevalence of health problems such as obesity, malnutrition, and poor immune systems has led consumers to increase their consumption of protein-rich

food & beverages which contain whey, casein and plant-based protein such as dietary supplements, sports nutrition products, and ready-to-eat foods,” said Mr.

Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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Sample Data - Snapshot

5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00

2016 2020 2021E 2026F

By Value (USD Million)

CAGR By Value

XX%CAGR By Value

YY%

Australia Protein Supplement Market Size, By Value (USD Million), 2016–2026F

Australia Protein Supplement Market Share, By Product, By Value, 2016–2026F

25%25%

25%

25%

25%

25%

25%

25%

25%

25%

25%

25%25%

25%

25%

25%

25%

25%

25%

25%

25%

25%

25%25%

25%

25%

25%

25%

25%

25%

25%

25%

25%

25%25%

25%

25%

25%

25%

25%

25%

25%

25%

25%

2016

2017

2018

2019

2020

2021E

2022F

2023F

2024F

2025F

2026F

Protein Powder Protein Bar Ready to Drink Others

Australia Protein Powder Market Share, By Distribution Channel, By Value, 2016–2026F

25%25%25%25%25%25%25%25%25%25%25%

25%25%25%25%25%25%25%25%25%25%25%

25%25%25%25%25%25%25%25%25%25%25%

25%25%25%25%25%25%25%25%25%25%25%

2016

2017

2018

2019

2020

2021E

2022F

2023F

2024F

2025F

2026F

Supermarkets/Hypermarkets Departmental Store Online Others

14

Report Ordering

Report Name: AUSTRALIA PROTEIN SUPPLEMENT MARKET

FORECAST & OPPORTUNITIES2016 – 2026

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About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in

number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The

proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’

model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich

evaluation of the opportunities available in the market.

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considersreliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors oromissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of thisreport. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative marketsize and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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