Market Trends of Europe Dietary Supplements Industry
Escalating Consumer Investment in Preventive Healthcare Products
- The aging population in Europe is driving the demand for various dietary supplements that can help maintain and enhance overall health and well-being. This trend is further fueled by the high healthcare costs in the region, as Europeans spend a considerable amount out-of-pocket on healthcare expenses for both communicable and non-communicable diseases.
- For instance, according to the Organisation for Economic Co-operation and Development (OECD), in 2021, in Germany, the average per capita out-of-pocket spending on healthcare was USD 858.4. Vegan and all-natural supplements are some of the fastest-growing categories, as they are gaining popularity due to their perceived health benefits. Probiotics, in particular, have experienced significant growth in recent years as they aid in gut health.
- Market companies have responded quickly to this trend, expanding their product portfolios to include such supplements. For instance, in June 2022, Procter & Gamble launched a new line of dietary supplements, including in Europe.
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Italy Holds the Largest Market Share
- Italian consumers place great value on functional foods and believe that they offer significant health benefits. As a result, they are increasingly demanding affordable products with functional properties. This has led to substantial growth in the market, driven by growing awareness of the link between diet and health and a desire for dietary supplements that can improve health while providing essential nutrition.
- Consumers in the region are mainly focused on preventive healthcare and are spending more on healthcare as a result. There is also an increasing prevalence of obesity in the country, which is driving demand for fitness supplements and other dietary supplements. According to World Population Review data from 2023, 19.9% of adults in Italy are obese.
- Market players in the region are launching new dietary supplements to meet consumer needs. For example, in February 2021, Garden of Life launched new baby vitamins designed to provide optimal wellness for babies. These liquid supplements are certified United States Department of Agriculture (USDA) organic, non-genetically modified organism (GMO) project verified, and are vegan and gluten-free.
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