The global high protein meal market is expected to grow at CAGR 5.63% during the forecast period 2019–2026. Rising awareness of consumers regarding the benefits provided by high-protein and nutritious products, increasing interest in bodybuilding, and the rising demand for protein-based products is expected to drive the demand for high protein meal market in upcoming years.
Demand for active and healthy life style to surge market growth
Nowadays, consumers are giving more emphasis on active and healthy lifestyles, regular exercise, and maintenance of a healthy diet. For instance, a study conducted by UK based cereal brand Weetabix, around half of all UK consumers are apparently seeking to add “extra protein” to their diets. The major consumers not only include sports athletes, but also those who want to have a wholesome meal without the trouble of cooking. Consumers prefer buying protein meal for various purposes, such as weight management, improving muscle mass and increasing energy.
Packaged protein foods are expected to hold the major market share during the forecast period
On the basis of type, package protein food segment is expected to hold the major market during the forecast period. The demand for packaged protein food such as meat snacks, fresh fish and seafood, fish oil products, crustacean food and soy desserts will drive the growth of high protein meal market. This is mainly attributed to the high nutritional value and health benefits of fish and seafood products in terms of protein.
Online store is likely to grow robustly over the forecast period
Increasing penetration of internet and smartphones in the recent years has resulted into the growth of online stores. Nowadays, more consumers prefer to buy the high protein meal at online stores. This is mainly due to the convenience and home delivery offered by the online stores. Therefore, this segment is likely to grow at highest CAGR during the forecast period.
Asia pacific is likely to capture largest market share
The high protein meal market in the North America and Europe is likely to reach at saturation phase, whereas the Asia Pacific region is gaining the momentum in the high protein meal market. This is mainly due to the rising consumer awareness in the developing countries such as India and China. The higher disposable income has led the increase in the consumption of high protein meal market in the Asia Pacific region.
Some of the major market players in the high protein meal market are The Kellogg Company, General Mills Inc., Mars Inc., Hormel Foods Corporation, Clif Bar & Company, Coca-Cola, Glanbia Nutritionals, GlaxoSmithKline, and PepsiCo among others. The high protein meal market is highly fragmented and many new players are entering into the market in the recent years. New advanced technologies, high R&D investment, and merger & acquisition are the some of the key strategies adopted by the key market players to gain the major market share in the global high protein meal market.