The dietary supplement industry in Western Europe is experiencing remarkable growth, with a projected CAGR of 8.2% through 2033. Valued at US$ 16,185.60 million in 2023, the market is forecasted to reach US$ 35,578.05 million by 2033. This growth is fueled by factors such as increasing consumer awareness about health and wellness, rising demand for personalized nutrition, and advancements in product innovation.
The demand for dietary supplements in Western Europe is being driven by:
- Health-Conscious Consumers: Growing health consciousness among consumers is leading to increased adoption of dietary supplements to meet nutritional needs and support overall well-being.
- Personalized Nutrition: Consumers are seeking tailor-made dietary solutions to address specific health concerns, driving demand for specialized supplements targeting areas such as sports nutrition, joint health, and mental wellness.
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Key factors contributing to the growth of the dietary supplement industry in Western Europe include:
- Product Diversification: Manufacturers are diversifying their product lines to cover a broader range of segments, such as sports and energy, joint health, and mental health. This diversification is attracting more customers and fostering intense competition in the region.
- Online Retail Channels: The rise of online retail channels is making dietary supplements more accessible to consumers, driving sales growth. Convenience, exclusive product availability, and discounts offered by online retailers are contributing to increased sales.
Key Takeaway:
- Investment Opportunity: With a projected CAGR of 8.2% and a valuation of US$ 35,578.05 million by 2033, the dietary supplement market in Western Europe presents a lucrative investment opportunity for investors seeking growth in the health and wellness sector.
- Market Trends: Seismic shifts in shopping trends, increasing preference for personalized nutrition, and advancements in product innovation are driving market growth. Investors can capitalize on these trends by investing in companies that are at the forefront of innovation and market expansion.
- Consumer Behavior: The growing importance of health and wellness among consumers, coupled with increasing awareness about the benefits of dietary supplements, is driving demand for these products. Investors can target companies that cater to the evolving needs of health-conscious consumers.
- Regional Insights: Countries like Italy, Germany, the United Kingdom, the Netherlands, and France are witnessing robust growth in the consumption of dietary supplements. Investors can explore opportunities in these markets by investing in companies that are strategically positioned to capitalize on growing consumer demand.
Key Development Spurring the Sales of Dietary Supplement in Western Europe
- Procter and Gamble, in November 2021, forayed into the vitamin C formulations category containing herbal ingredients and minerals by introducing products co-packaged with its well-known OTC drug brands, Vick’s DayQuil and NyQuil cold remedies. This move underscores the growing traction for merging conventional drugs with dietary supplement to develop new product offerings and serve the increasing demand for preventive healthcare measures.
- Bayer released Berocca ImmunoEffervescent Tablets in June 2022. This nutritional supplement is developed to boost immunity. As per company’s claims, the product consists of ten essential minerals and vitamins C, D, A, B9, B6, and B12.
- Nature’s Bounty, in May 2021, introduced a marketing campaign in the United Kingdom and Ireland, meant to redefine its brand positioning. The campaign is intended to realign the firm’s message with its initial founding purpose to provide access to natural nutrition.
- Probi, a Swedish probiotics firm, and Perrigo, a leading provider of self-care products, entered a pan-European agreement in February 2021 to introduce probiotic concepts. The agreement includes the release of three probiotics by Perrigo as dietary supplement in the immune and digestive areas on the basis of Probi’s scientifically validated probiotic strains.
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Key Players Providing Dietary Supplement in Western Europe
- GlaxoSmithKline plc
- Bayer AG
- Reckitt Benckiser Group PLC
- Amway Corporation
- Abbott Nutrition
- Others
Segment Categorization of Dietary Supplement in Western Europe
By Form:
- Soft Gel or Capsules
- Confectionary Products
- Gummies
- Chews
- Others
- Pharmaceutical Products
- Chewable Pills and Pills
- Soft Gel
- Confectionary Products
- Powder
- Liquid
By Ingredient:
- Vitamins and Minerals
- Amino Acids
- Botanical Supplement
- Others
By End Use:
- Men
- Women
- Senior Citizen
- Others
By Application:
- Weight Loss
- Sports Nutrients
- General Well Being
- Immune Health and Digestive Health
- Bone and Joint Health
- Heart Health
- Others
By Distribution Channel:
- Pharmacies Drug Store
- Health and Beauty Stores
- Immune Health and Digestive Health
- Bone and Joint Health
- Heart Health
- Other
By Country:
- Germany
- Italy
- France
- United Kingdom
- Spain
- The Netherlands
- BENELUX
- Rest of Western Europe
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