South Korea Protein Powder Market Report and Forecast 2024-2032

South Korea Protein Powder Market Outlook

The South Korea protein powder market size is projected to grow at a CAGR of 12.1% between 2024 and 2032.

Key Takeaways

• When buying protein products, about 34% of South Korean consumers opted for vegetable protein, while only 21% selected animal-based proteins.

• In South Korea, 20% of consumers get their protein from sports nutrition products that have added protein.

• Ingredients like peas and tempeh, known for their high protein content, are gaining popularity in South Korea.

• Popular protein powder companies in the country are Optimum Nutrition, Amway Korea Ltd., and Herbalife Korea Co. Ltd.

Protein powder is a dietary supplement that provides protein and other nutrients to the body. It is usually made from animal or plant sources, such as whey, soy, pea, rice, or hemp. Protein powder can help people meet their daily protein requirements, especially if they have a low-protein diet, exercise regularly, or want to build muscle mass. Protein powder is also convenient and easy to consume, as it can be mixed with water, milk, or other beverages.

The South Korea protein powder market outlook looks promising due to the increasing health awareness and fitness trend among the population, especially the young and urban consumers, who are looking for products that can enhance their physical performance and well-being. Moreover, the growing demand for a protein-rich diet among the public and the popularity of protein supplements among gymgoers, athletes, and fitness enthusiasts are majorly driving the South Korea protein powder market growth.

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Key Trends and Developments

Rising demand for plant-based protein powder, health benefits of protein powders, and growing influence of celebrities is fostering the South Korea protein powder market development

South Korea Protein Powder Market Trends

South Korea protein powder market development can be attributed to the growing demand for plant-based and vegan protein powder, which cater to the dietary preferences and needs of the consumers who are allergic, intolerant, or sensitive to animal-based protein sources. Also, the expanding distribution channels and online platforms make protein powder more accessible and convenient to buy, which is increasing the South Korea protein powder market size.

Furthermore, protein powders are gaining more popularity among millennials and generation Z because it can be costly to regularly eat a balanced meal that includes meat. Major food companies have launched a variety of protein-rich products to attract a wider customer base and capture a larger South Korea protein powder market share. In 2018, the leading dairy company in South Korea, Maeil Dairies Co., introduced protein powder, drinks, and bars under its Selex brand.

In addition, apart from helping in developing strong muscles and tissues, protein powder also heals tissue, strengthens the immune system, produces enzymes, helps control weight, and keeps cholesterol levels healthy. These benefits contribute to the protein powder market in South Korea.

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Market Segmentation

South Korea Protein Powder Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Animal-based protein powder is further segmented by type into whey protein, egg protein, casein, and collagen, among others. Plant-based protein powder is sub-divided into pea, soy, hemp, and brown rice, among others.

Animal-based protein powders hold a significant market share due to their high biological value and availability of a wide range of flavours

In types of protein powders, animal-based protein powders is anticipated to lead the South Korea protein powder market share in the forecast period. Animal-based protein powders are derived from animal sources, such as milk, eggs, or meat. They are considered to have a high biological value, meaning that they contain all the essential amino acids that the human body cannot synthesise. The most popular animal-based protein powders are whey and casein, which are derived from milk. Whey protein is fast-digesting and has a high concentration of branched-chain amino acids (BCAAs), which are beneficial for muscle growth and recovery. Casein protein is slow-digesting and has a high concentration of glutamine, which is beneficial for immune system support and muscle preservation. The major factors driving the growth of this segment are the high preference for whey and casein protein powders among consumers, the availability of a wide range of flavours and formulations, and the presence of established brands and manufacturers in the market.

Plant-based protein powders, on the other hand, are derived from plant sources, such as soy, pea, rice, hemp, or quinoa. They are considered to have a low biological value, meaning that they lack one or more essential amino acids that the human body cannot synthesize. However, some plant-based protein powders are blended with different plant sources to create a complete protein profile. Plant-based protein powders are suitable for vegans, vegetarians, or consumers who have lactose intolerance, gluten allergy, or other dietary restrictions. Plant-based protein powders are also rich in fibre, antioxidants, and phytochemicals, which are beneficial for digestive health, inflammation, and chronic diseases. According to South Korea protein powder market analysis, the major factors driving the growth of this segment are the increasing demand for vegan and organic products, the rising awareness about the environmental and ethical issues of animal-based protein production, and the emergence of new and innovative plant-based protein sources and flavours.

Hypermarkets and supermarkets augment the expansion of the market as these channels provide a wide range of protein powders

The hypermarkets and supermarkets segment accounted for the largest share of the protein powder market in South Korea. Th growth of the segment is driven by the increasing availability of various brands and types of protein powder products in hypermarkets and supermarkets, such as whey, casein, soy, pea, and rice. Some of the leading players in the segment are Amway, Herbalife, GNC, MusclePharm, and Optimum Nutrition.

The convenience stores segment also accounts for a substantial South Korea protein powder market share due to the increasing demand for convenient and ready-to-drink protein powder products, such as shakes, bars, and snacks, among busy and health-conscious consumers.

According to South Korea protein powder market report, the speciality stores segment is growing because of the increasing preference for specialised and customised protein powder products, such as vegan, organic, gluten-free, and lactose-free, among niche and loyal customers.

The expansion of online channels has also increased the South Korea protein powder market value and the segment is expected to grow at a fast rate in the forecast period. This is due to the increasing penetration of e-commerce platforms, social media marketing, and online reviews, which offer convenience, variety, and competitive prices to the customers.

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Competitive Landscape

Market players are introducing different flavours of protein powders to cater to consumer’s demand and further strengthen their positioning.

Other key players in the South Korea protein powder market analysis include Sequel Natural LLC. (Vega), and THG Nutrition Limited (Myprotein), among others.

Key Highlights of the Report