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Europe Dietary Supplements Market is Segmented by Type (Vitamin, Mineral, Botanical, Enzyme, Fatty Acid, Protein, and Other Types) and Geography
Fastest Growing Market:
The European dietary supplements market is forecasted to reach USD 26.2 billion by 2024, registering a CAGR of 4.6%, during the forecast period (2019 - 2024).
The European dietary supplement market is available in vitamin, mineral, botanical, enzyme, fatty acid, protein, and other types. With the increase in income levels and promotional initiatives by market vendors, the sale of prenatal vitamin supplements has increased, considerably.
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The French dietary supplements market is growing, due to the consumer knowledge on healthier ingredients and increase in demands for vitamins and minerals supplements, from the health-conscious population. The French market for the dietary supplements has received a substantial boost from the evolving EU regulations around the health claims that provided considerable innovative space to supplement manufacturers. The EU nutrition and health claim regulations (NHCR) have prompted supplement manufacturers to incorporate micronutrients in their offerings for substantiating the health claims. This has also led to the proliferation of products fortified with vitamins and minerals. The sales of organic supplements, coupled with the strengthening of distribution channels, have offered accessibility and convenience to the French consumers. The sales of herbal products have also witnessed a significant increase in last three years.
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The preventive healthcare practices that are in vogue nowadays, coupled with multivitamins deficiency that is commonly observed owing to inadequate intake, are driving the demand for vitamin supplements in Europe. Additionally, the increasing number of personalized online systems available to consumers free of charge is driving the demand for dietary supplements. Both manufacturers and retailers are beginning to offer free access to “wellness tools” that create a customized vitamin list based on a consumer’s specific conditions and need. Elderly people usually suffer from vitamin D deficiency, as they have low exposure to sunlight. Therefore, there is a growing dependency on vitamin D supplements among the geriatric population. The market for vitamins supplement has approached maturity in France, as the market is also concentrated within the country, few players dominate the market scenario. The source of the graph is the European Food Safety Authority, depicting the average requirement for vitamins in males.
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Europe dietary supplement market faces high competition among the global leading players, including Pfizer, Sanofi, Herbalife, Glanbia Nutritionals, Abbott, Bayer AG, GlaxoSmithKline, and Reckitt Benckiser. Key players, like Arkopharma, hold 34% within the European dietary supplement market and none of the major shareholders account for more than 5% of the market, which depicts the competition prevalent in the market.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.5 Fatty Acid
5.1.7 Other Types
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.3 Herbalife International of America, Inc.
6.1.5 Bayer AG
6.1.6 GlaxoSmithKline plc.
6.1.8 Glanbia plc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
* List Not Exhaustive