Europe dietary supplements market size is projected to reach USD 20.89 billion by 2026. The market is set to grow remarkably owing to the increasing demand from millennial women who are starting to adopt superior sources of nutrients to complement their diet. This information is published in a recent report, titled, “Europe Dietary Supplements Market Size, Share & Industry Analysis, By Type (Vitamins, Minerals, Enzymes, Fatty Acids, Proteins, and Others), Form (Tablets, Capsules, Powder, and Liquid), and Regional Forecasts, 2019 – 2026,” by Fortune Business Insights™. The report further mentions that the market was worth USD 14.29 billion in 2018. However, it is expected to showcase a CAGR of 4.89% during the forecast period (2019-2026).
Introduction to Personalized Nutrition will Propel Growth
The availability of customized offerings by numerous industry giants is one of the main reasons for the Europe dietary supplements market growth. The concept of personalized nutrition is gradually replacing the one-size-fits-all concept. Moreover, the wave of digitalization has reached the nutrition sector at a fast pace. Companies are also adopting artificial intelligence to evaluate genetics, medical history, and biomarkers of each person to create hyper-personalized solutions. It is one of the most crucial Europe dietary supplements market trends that would augment growth.
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Key Segments of Europe Dietary Supplements Market
- Type: The market is fragmented into fatty acids, minerals, proteins, vitamins, enzymes, and others. Out of these, the vitamins segment had acquired 37.78% Europe dietary supplements market share in 2018. It will exhibit immense growth owing to the rising demand for multivitamin, mineral, and traditional vitamin supplements amongst women. Additionally, a large number of pregnant women, children, and infants are consuming these supplements. Men, on the other hand, are shifting towards those supplements that would be able to enhance their gut health and improve their endurance and energy. These factors are anticipated to drive the growth of this segment in the coming years.
- Form: The market is segregated into powders, liquids, and tablets and capsules. Amongst these, the tablets and capsules segment would dominate the market owing to their rising demand. Several domestic and international companies are encapsulating the multi-mineral, vitamin, amino acid, and multivitamin dietary supplements. These are available in various sizes. Also, the consumers are rapidly shifting towards these products on account of their possession of numerous benefits, namely, higher affordability, convenient packaging, and defined dosage as compared to the liquid supplements. Apart from that, the persistent technological advancements in the field of capsule manufacturing is set to fuel the growth of this segment.
- Country: The market is divided into the U.K., Germany, Italy, France, Spain, and rest of Europe. The rest of Europe is anticipated to exhibit a CAGR of 5.21% during the forthcoming years. It is likely to occur as people are shifting towards dietary supplements to improve their quality of life and remain healthy. In the, such as Belgium, Netherlands, Sweden, and Norway, the manufacturers are expected to have high growth opportunities to sell and promote specialized and state-of-the-art products by partnering up with e-commerce channels. Italy, on the other hand, had acquired a market share of USD 2.85 billion in 2018. This growth is attributable to the rising geriatric population and increasing awareness about the health benefits of dietary supplements amongst the masses. Besides, surging discretionary spending on self-care products is likely to boost growth in this country.
Sanofi Joins Hands with Startup Creasphere to Create a Hub of Digital Health Innovation
- January 2019: Sanofi S.A., a multinational pharmaceutical company, based in Paris, announced that it has joined hands with Startup Creasphere, a digital health innovation hub in Bayern to develop an ultimate hub of digital health innovation in Europe. It would enable disruptive startups to meet the advanced corporations to learn and share experiences, drive investments, pilot solutions and services, and boost geographical expansion. As per the officials of Sanofi, this partnership would also help in developing innovative and latest healthcare solutions for its consumer bases. Besides, it is likely to aid the company in gaining maximum Europe dietary supplements market revenue.
Fortune Business Insights™ profiles a few of the leading organizations present in the Europe dietary supplements market. They are as follows:
- Herbalife Nutrition Ltd.
- Amway Corp
- Pfizer, Inc.
- Glanbia Nutritionals
- Archer Daniels Midland Company
- Nestle S.A.
- GlaxoSmithKline plc
- Otsuka Holdings Co. Ltd.
- Suntory Holdings Ltd.
- Other key market players
The Europe dietary supplements market can be segmented in the following way:
Value (USD Billion)
- Fatty Acids
- Tablets and Capsules
- Rest of Europe