The Europe Dietary Supplements Market size is projected to reach USD 20.89 billion by 2026, thereby exhibiting a CAGR of 4.89% during the forecast period (2019-2026). Fortune Business Insights™ published this information in a recent study, 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.” However, the market was worth USD 14.29 billion in 2018. As per the study, the market is set to gain momentum from the increasing popularity of sportified nutritional supplement products in the region.
Rising Innovative and Customizable Offerings by Companies to Propel Growth
The market is dynamic and highly competitive. Several niche companies and private label brands are dominating the market owing to their aesthetic, customizable, and innovative offerings. Significant brand loyalty of regional brands and product expertise are leading to a large number of mergers and acquisition activities in Europe. These factors are anticipated to benefit end-use consumers in the form of clean-label, high-quality, certified, and credible supplements.
Additionally, the local companies are achieving tremendous funding opportunities because of their capability to provide disruptive and unique solutions even amidst the rising competition from the functional food and beverages sector. It would help in fueling the Europe Dietary Supplements Market growth in the coming years.
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List of the most reputed organizations operating in the Europe Dietary Supplements Market are:
- Suntory Holdings Ltd.
- Herbalife Nutrition Ltd.
- Amway Corp.
- Pfizer, Inc.
- GlaxoSmithKline plc
- Archer Daniels Midland Company
- Otsuka Holdings Co. Ltd.
- Glanbia Nutritionals
- Nestle S.A.
- Other key market players
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Tablets & Capsules Segment Will Lead Owing to Innovations in Manufacturing Technology
In terms of form, the market is grouped into tablets and capsules, liquid, and powder. Out of these, the tablets and capsules segment is likely to dominate in terms of Europe Dietary Supplements Market revenue. This growth is attributable to the increasing demand for these type of supplements across Europe. Consumers are shifting towards them because of their possession of numerous features, namely, defined dosage, high affordability, and convenient packaging as compared to the liquid supplements. Many domestic and international organizations are selecting encapsulation method to sell their amino acid, multi-mineral, multivitamin, and vitamin dietary supplements in multiple sizes. Also, the ongoing technological advancements in the manufacturing of capsule is projected to fuel the growth of this segment.
Italy to Exhibit Significant Growth Backed by Rising Geriatric Population
The market is geographically segregated into Italy, Germany, Spain, the U.K., France, and rest of Europe. Amongst these, the rest of Europe will showcase 5.21% CAGR during the forecast period. It would occur because of the rising adoption of dietary supplements in countries, namely, Poland, Greece, Belgium, Netherlands, Austria, Denmark, and Ireland. These supplements are being used more nowadays to improve quality of life and enhance health of the masses.
Italy, on the other hand, acquired a market size of USD 2.85 billion in 2018. The growth is driven by the surging discretionary spending on self-care products, rising aging population, and increasing awareness campaigns amongst the populaces regarding the health benefits of nutritional products. Also, the rising demand for botanicals and the active principles associated with them would drive growth in this country.
DSM Acquires Ava to Become the Partner of Choice for Supplement Brand Owners
November 2019: DSM N.V., a multinational company active in the fields of health, nutrition, and materials, headquartered in Heerlen, announced that it has acquired Ava, a medical technology company, based in California. Ava is a unique digital health platform that uses artificial intelligence to analyze consumption, wellness, and behavior patterns. It also helps in delivering end users with live coaching and adaptive nutrition recommendations. DSM would combine this technology with its state-pf-the-art solutions, products, and nutrition science. According to the officials, this acquisition would support DSM in being the partner of choice for food and beverage as well as dietary supplement brand owners that want to provide healthy and customized nutrition.
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