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European Nutritional Supplement Market Analysis and Forecast to 2030: Soaring Demand for Sports and Dietary Supplements
European Nutritional Supplement Market
Dublin, May 21, 2024 (GLOBE NEWSWIRE) -- The "Europe Nutritional Supplement Market" report has been added to ResearchAndMarkets.com's offering.
The Europe Nutritional Supplement Market is poised for a substantial expansion, with its value expected to grow from US$ 38.27 billion in 2023 to US$ 63.51 billion by 2030. This growth, at a CAGR of 7.84%, reflects an increasing consumer focus on health and wellness across Europe.
The market growth is primarily driven by a soaring demand for sports and dietary supplements. Additionally, a growing consumer awareness about health and nutrition, coupled with the declining quality of diet, is prompting people to turn to supplements to fill nutritional gaps. However, the market faces challenges with issues of consumer trust, stemming from false labeling and the presence of counterfeit products in the market. These factors pose a significant hindrance to market growth.
The market is segmented based on product type, ingredient, form, age group, end-use, distribution channel, and region.
By Product Type
Dietary Supplements
Beverages
Functional Nutrition
Infant & Maternal Nutrition
Medical Nutrition
Sports Supplements
Nutritional Supplements
Others
By Ingredient
Vitamins
Botanicals
Minerals
Proteins & Amino Acids
Fibers & Specialty Carbohydrates
Omega Fatty Acids
Others
By Form
Capsule
Powder
Tablet
Liquid
Others
By Age Group
Infants
Adults
By End-use
Energy & Weight Management
General Health
Bone & Joint Health
Gastrointestinal Health
Immunity
Cardiac Health
Diabetes
Anti-cancer
Others
By Distribution Channel
Hypermarkets & Supermarkets
Pharmacy Stores Treatment
Online Channels
Others
Leading segments include Dietary Supplements, commanding over 40% market share, and Proteins & Amino Acids, expected to grow at a CAGR of 10.72%. Tablet forms are set to cross US$ 18.33 billion by 2028, while the Adults segment remains the largest consumer base. The Immunity segment is witnessing the fastest growth in end-use, and Pharmacy Stores Treatment is emerging as a key distribution channel.
Regional Overview
Western Europe dominates the market, with significant contributions from countries like the UK, Germany, France, Italy, and Spain. This region is the stronghold of the European Nutritional Supplement Market, accounting for more than 80% of the market share in 2023. With a diverse range of products and an increasing focus on health and wellness, countries like the UK, Germany, France, Italy, and Spain are major contributors to the market's growth. Below are the countries covered in the report:
Western Europe
The UK
Germany
France
Italy
Spain
Belgium
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Competitive Landscape
The market is characterized by the presence of prominent players like Abbott Laboratories, Amway, Bayer AG, Glanbia, GlaxoSmithKline, and Pfizer. These companies, holding nearly 47% of the market share, are crucial in driving innovation and meeting consumer demand.
A selection of companies mentioned in this report includes, but is not limited to:
Abbott Laboratories
Archer Daniels Midland
Amway
Arkopharma Laboratoires Pharmaceutiques
Bayer
Bionova Lifesciences
Carlyle Group
Glanbia
GlaxoSmithKline
Nu Skin Enterprises
Pfizer
Herbalife International
Himalaya Drug Company
Nature's Sunshine Form
The Bounty Company
Key Attributes
Report Attribute | Details |
No. of Pages | 327 |
Forecast Period | 2023-2030 |
Estimated Market Value (USD) in 2023 | $38.27 Billion |
Forecasted Market Value (USD) by 2030 | $63.51 Billion |
Compound Annual Growth Rate | 7.8% |
For more information about this report visit https://www.researchandmarkets.com/r/l59crm
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ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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