Europe Dietary Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe Dietary Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The European 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 (2021-2026).

Due to the COVID-19 pandemic, the dietary supplement industry in Europe has registered growth among the multiple pockets, as most of the European consumers have more interest in overall health and wellness. For instance, the outbreak of the coronavirus pandemic in Poland in March 2020 had a significant impact on the purchase changes in Poles, which translated into the volume of product sales. 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 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 TrendsWeight 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 the obese population has been escalating. 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 sectors 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,” has 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.

Italy Holds the Largest Market Share

The awareness and market penetration level for vitamins in Italy is high, as 52% of Italian adults use supplements either as vitamins or minerals. Further, the growing aging 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% compared to that of the previous year.

Competitive Landscape

Major players are focusing on product innovations 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, and NutraHealth PLC. 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 maintain their position in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Amway
Glanbia PLC
Glaxosmithkline PLC
Abbott
Reckitt Benckiser Group PLC
Gnc Holdings Inc.
Bayer AG
Procter & Gamble
Nature's Bounty
NutraHealth PLC

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