Globally every market is perceived in the new lens through Environmental, Social, and Governance (ESG) perspectives due to the precedence of ESG initiatives in every other industry. The rapid boom of the Protein Supplements Market around the globe is comparatively proactive in recent years. According to Grand View Research, the global protein supplement market was valued at 20.47 billion USD and is estimated to expand to a CAGR of 8.5% in 2030 with base year as 2021. A general shift towards preventive care is emphasized owing to the changing lifestyle practices among consumers. A large-scale survey conducted by a European-based flavor and nutrition company revealed that more than 40% of the consumers equate protein supplements with a healthy lifestyle and healthy diet.
Despite the significant increase in the popularity of the industry, the product labeling and advertising is greatly flawed. The over glorification of the benefits of protein supplement products in the market affects the social aspects of the product in the market. However, the emerging opportunity in the sector is plant-based and animal-based protein. The market has great potential to address social risk in terms of improving health and safety of the consumers and creates opportunities to address growing concerns. The lack of regulations in the sector has paved way for falsified claims.
In addition to the increasing glamor towards veganism and vegetarianism, ESG initiatives could delve into a huge market and create positive socio-economic benefit in the upcoming Protein Supplements Market.
Since the Covid-19 pandemic in 2020, a reactive action towards healthy lifestyle has gained momentum. Consumer intake of protein-rich foods increased based on the spontaneous decision that it increases their immunity power. In March 2020, a survey conducted by a European nutrition group found that the consumption of protein bars increased by 2% among the group within a span of 2 weeks.
Whey protein is one of the major products in the market that has almost zero carbon emissions and is thus a key product offering in the industry. Whey is a leftover product from cheese making. Instead of dumping this leftover liquid into the environment, whey protein powders are made from them thereby making them a sustainable option. The global whey protein market stands at in 2019 and is expected to grow to by 2027.
The alternative and sustainable protein products and the resulting new products have raised social awareness in vegan movements and might help in attaining certain United Nations’ - Sustainable Development Goals (UN – SDGs). Some of these SDGs the Protein Supplements Market can help accomplish include Responsible Consumption and Production, Climate Action, and Good Health and Well-being.
The growing market faces extreme social risks in terms of product labeling. A survey conducted by a non-profit organization in 2018 of the top 130 protein powders in the market revealed that almost three fourth of the products contained heavy metals, pesticides, and other contaminants. A partial, to no disclosure on the product ingredients with life-threatening impacts can affect the progress of the protein supplement industry.
• Glanbia PLC
• CytoSport, Inc.
• Transparent Labs
• Macro-economic and ESG-variable analysis of the industry, including regulatory, policy, and innovation landscape
• Key insights on infrastructure developments and ESG issues affecting the theme
• Identify key initiatives and challenges within the industry
• Identify ESG leaders within the industry
• Understand key initiatives and the impact of companies within the sector to fuel an informed decision-making process
• Analysis of industry activities based on multi-media sources, including significant controversies and market sentiment
• Identifying: Policies & Regulations, Environmental Opportunities and Social risks impacting the Market globally.
• Understanding key risks and opportunities in the Protein Supplements industry.
• Obtaining a clear understanding of the company’s products and identifying relevant investment opportunities.
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