Europe Nutraceuticals Market Outlook, 2027

Europe Nutraceuticals Market Outlook, 2027

In recent years, consumption of junk food has increased manifold, leading to various diseases caused by improper nutrition. Obesity is now recognized as a global issue. In addition to that, heart disease continues to be a primary cause of death in most developing countries worldwide, followed by cancer, osteoporosis, arthritis, and many others. Consumers are frustrated with the expensive and high-tech treatment approaches of modern medicine, and they seek alternative or complementary beneficial products. Nutraceutical products can be a viable option for these requirements. As a result of that, a new diet health pattern is evolving across the globe which places higher emphasis on the positive aspects of diet. This new lifestyle adopted by people has changed the basic food habits of the latter. As for the European region, the concept of nutraceuticals arose first in the UK, Germany, and France, where diets were rated higher by consumers. However, the European nutraceutical market is highly competitive with the presence of numerous international and domestic players. Also, the European nutraceutical industry is focusing on innovation and new product development. In Europe, Germany, the UK and France have emerged as key innovation hubs and have already attracted many major companies into the region. Rising opportunities and new product launches in obedience to consumer trends are likely to fuel the overall market growth.

According to the research report titled Europe Nutraceuticals Market Outlook, 2027, published by Bonafide Research, the market size is anticipated to reach nearly USD 114 Billion by 2027. The growing elderly population and the increasing application of nutraceuticals for treating malnutrition and cardiovascular diseases in Europe are some of the driving factors to boost the demand for nutraceutical products. Further, significant changes in consumer lifestyle driven by continuous enhancement in the functional food industry are creating myriad growth opportunities. The European nutraceutical market is segmented into six prominent countries, including Germany, the UK, Spain, France, Russia, and Italy. Among these countries, Germany is projected to gain the most momentum during the forecast period in the nutraceutical market.

Germany has around 82 Million consumers, which makes it the largest food and beverage retail market across the European region. Furthermore, consumers in Germany demand high-quality products, including organic, health, and wellness food and beverage products. Also, the nutraceutical market in Germany is benefitted by the strong economy and low unemployment rate. According to the Agricultural Market Information Company (AMI), in 2018, organic product demand has grown by around 8% in Germany. Key players operating in the nutritional supplement market are introducing organic and natural products in order to cater to rising demand for organic and natural products. For instance, in May 2019, Herbaland Gummies launched vegan collagen booster gummies, which help in improving collagen formation in the body. In addition to that, the rising influence of social media and advertising of nutritional supplements by retailers on different social media platforms are resulting in increasing consumption of nutritional supplements across the country.

The European nutraceutical market is segmented into three product types, including dietary supplements, functional beverages, and functional foods. Among these types, the functional food segment dominated the market during the forecast period owing to higher adoption of diet plants across the region by the majority of the population. Further, based on dietary supplement types, the vitamins segment occupied a larger portion of the market in 2021. This growth can be attributed to the rising need to boost vitamin intake prevailing among the millennial population. Furthermore, based on the functional food types, the dairy product segment is expected to lead the market during the upcoming timeframe. Increasing awareness and adoption of the product are expected to fuel the market's growth. However, the functional beverages segment is growing at a prominent growth rate for 2022–2027. Based on the sub-types of functional beverages, the energy drink segment is leading the market, followed by sports drinks. The growing consumer's inclination toward non-alcoholic beverages and the various health benefits associated with them has raised the demand for functional beverages in recent years.

COVID-19 Impact:
The European nutraceutical market has had a positive impact and witnessed significant growth during the pandemic time period, as these include food ingredients that provide medical or health benefits to prevent diseases as well as boost the overall immune system. The flexibility in storage options, the intensifying demand for combined formulations with multiple benefits, augmented consumer awareness, and the rise in health concerns among consumers during the pandemic period have increased the demand for nutraceuticals in the European region.

Major Companies present in the market:
Herbalife Nutrition, AMWAY Corp., Bayer AG, Pfizer Inc., GlaxoSmithKline plc., Abbott Laboratories, Glanbia plc, Archer Daniels Midland Company, Nu Skin Enterprises, Inc., Nestle SA, Danone SA, General Mills Inc., Tyson Foods, Monster Beverage Corporation, The Coca-Cola Company, Arla Foods amba, Hearthside Food Solutions LLC, PepsiCo Inc.

Considered in this report
• Geography: Europe
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Europe nutraceuticals market with its value and forecast along with its segments
• Country wise nutraceuticals market analysis
• Application wise nutraceuticals market distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• Germany
• UK
• France
• Italy
• Spain
• Russia

Based on product type of nutraceuticals market in the report:
• Dietary Supplements (Vitamin, Minerals, Herbal Supplements, Probiotic, Amino acid/Protein& Others)
• Functional Foods (Bakery & Cereals, Dairy Products, Meat, Fish & Eggs, Soy Products, Fats & Oils & Others)
• Functional Beverages (Energy Drinks, Sports Drinks, Dairy & Dairy Alternative Drinks, Fortified Juices & Others)

Based on Distribution channel type of nutraceuticals in the report:
• Supermarkets & Hypermarkets
• Convenience Stores
• Drug and Pharmacies
• Online Retail Stores
• Other Distribution Channels

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to food & beverage industry, nutrition industry, pharmaceutical industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.