The Europe dietary supplements market was valued at USD 14, 995.3 million in 2020, and it is projected to reach a CAGR of 5.49% during the forecast period (2022-2031).
Due to the COVID-19 pandemic, the dietary supplement industry in Europe has increased among the multiple pockets as most of the European consumer has raised their interest on overall health and wellness. For instance, the outbreak of the coronavirus epidemic in Poland in March 2020 had a significant impact on the purchase changes in Poles, which translated into the volume of product sales. In the period from February to March, the highest sales increase was recorded for products from the health category, such as dietary supplements or OTC drugs.
Europeans perceive dietary supplements as products that improve health and wellness. The purchase of such products is, thus, considered as a preventive measure to health disorders. Health professionals across the region recommend dietary supplements to their patients, to combat health challenges.
The region has witnessed higher demands for food supplement products containing vitamins and minerals and thus, regulations and laws have given due preference for such products.
Key Market Trends
Weight-Loss Dietary Supplements are Capturing the Market
The term “Obesity” that was traditionally recognized as the alarm to eat healthily and live actively has gradually taken the shape of malignancy, across countries, such as Malta, Hungary, the United Kingdom, and Germany, where the rate of obese population has been escalating, amid government plans to curb the growth. The graveness of this issue can be understood by analyzing the countries with the lowest obesity rates in Europe, which yet surpass the global average of obesity prevalence as laid by the World Health Organization.
As a result, obesity has become one of the greatest burdens on the healthcare of most of the European countries, which is leading consumers to pivot their requirements toward natural ingredients and health products, wherein the use of alternative medicines, particularly “supplements,” have witnessed a steep growth over the past few years. According to the OECD, six places among the top ten economies with the greatest health expenditure on obesity are occupied by European countries with Germany, Spain, Italy, and the United Kingdom, leading in the region.
Italy holds the Largest Market Share
The awareness and market penetration level for vitamins in Italy is high, 52% of Italian adults use supplements either as vitamin or mineral. especially among the health-conscious millennials, thus the market share is increasing rapidly. Further, the growing ageing population is fueling the demand for dietary supplements, as they can prevent or overcome health conditions. The awareness and market penetration level for dietary supplements in Italy is high, thereby demanding more such products during the forecast period. According to FederSalus, due to the COVID-19 pandemic, consumers in the market are turning their attention toward supplements, to maintain their health. Thus, the sales of dietary supplements, like vitamin C, registered a market share of 237.8%. The sales of supplements for sleep and relaxation jumped by 26.6%, as compared to that of the previous year.
Competitive Landscape
Major players are focusing on product innovation in the market to expand their presence in the market, enhance their brand portfolio, and cater to various preferences of consumers. Major players in the European Dietary supplements market include Amway, Glaxosmithkline PLC, Reckitt Benckiser Group PLC, NutraHealth Plc, etc. These companies are increasing their investments in research and development (R&D) and developing innovative products in line with consumer needs, to expand their presence, and to maintain their position in the market.
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