Posted On: 2021-04-29
Vitamins supplement is expected to hold the largest revenue share in the Europe dietary supplements market during the forecast period - 6Wresearch
Europe dietary supplements market witnessed considerable growth in recent years on account of rise in awareness towards health and wellness, overall immune support, maximise productivity, support with stress management, etc. In terms of revenues, Italy is the leading nation in the entire continent, whereas Germany is following Italy with the second largest revenue share in Europe. However, France is expected to show the maximum growth rate during the forecast period and United Kingdom would also show the significant growth. Additionally, the COVID-19 pandemic further had a positive impact on the market of dietary supplements owing to increase in demand for vitamin & minerals type dietary supplements during the pandemic due to their association with immunity and memory improvement, underpinned by the news spread by the media stating vitamins could help boost immunity against the virus.
According to 6Wresearch, Europe Dietary Supplements Market size is projected to grow at CAGR of 4.5% during 2021-2027F. Based on function types, medical supplements acquired the maximum revenue share in the year 2020 owing to COVID-19 outbreak that led to increase in usage of medical supplements on the recommendation of doctors pertaining to their benefits such as high immunity and improved memory. Furthermore, medical supplements as well as additional supplements would show a significant growth over the coming years on the back of the health benefits associated with adding the above-mentioned supplements to daily routine. The medical supplements and additional supplements also help to maintain fitness, thus leading to higher demand for these supplements from the fitness enthusiasts. However, sports supplements would also augment in some regions of the Europe on account of rising participation of youth in sports activities across the region.
According to Sarthak Bansal, Senior Research Analyst, 6Wresearch, “Based on form type, tablets and capsules holds the maximum share in revenue in the year 2020 on account of easy to use and equally effective like any other form. In forthcoming years, the abovementioned types i.e. tablets and capsules would show slow and steady growth.
According to Srajan Yadav, Research Associate, 6Wresearch, “Based on end users, adults segment of the market constitutes highest revenue share due to their dependence on the dietary supplements which helps in reducing the negative impact of stress and modern life on their sleep along with their increasing focus on health and stress management. On account of rise in sports activities and spread in awareness about health and fitness among adults, adults segment would augment in the forecast period, simultaneously, children segment would also show significant growth.
Some of the major companies in Europe dietary supplements market includes Glanbia plc, The Hut Group, NUTERGIA, VIT’ALL+, Supplement Factory Ltd., Kaged Muscle, MyProtein, Sanofi, Santiveri and other players.
Europe Dietary Supplements Market (2021-2027) report provides an in-depth analysis with 50 figures and 20 tables covered in 125 pages.” The report estimates and forecast the overall Europe Dietary Supplements Market by revenues, types, function type, form type, and end users. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.