Market Size of Europe Nutraceutical Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 83.88 Billion |
| Market Size (2029) | USD 106.59 Billion |
| CAGR (2024 - 2029) | 4.91 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Nutraceutical Market Analysis
The Europe Nutraceutical Market size is estimated at USD 83.88 billion in 2024, and is expected to reach USD 106.59 billion by 2029, growing at a CAGR of 4.91% during the forecast period (2024-2029).
In the European region, nutraceuticals are gaining importance and becoming a part of the consumer's daily diet. The reasons for this change are the increased prevalence of lifestyle-related diseases and people taking preventive healthcare measures. With the increase in life expectancy and subsequent increase in lifestyle-related diseases, nutraceuticals have emerged as a necessity for consumers, especially in a developed market, such as the European region. Functional food is the largest share-holding category of the market, followed by functional beverages and dietary supplements. A functional beverage is the fastest-growing segment, and developing markets have growth potential for these beverages.
Furthermore, due to the high elderly population, the diseases like obesity, heart-related diseases, arthritis, and many more are growing. According to the World Bank data from 2021, about 21.13% of the population in Europe is above the age of 65. Because of this, the region's requirement for nutraceuticals and functional foods is increasing. Also, the requirement for probiotic supplements is increased owing to the rising problems related to digestion, obesity, and others. In October 2022, OptiBiotix Health Plc (OptiBiotix), a global market leader in microbiome modulation solutions, " OptiXOS", a new xylo-oligosaccharide prebiotic for the European and African market. The product claims to increase positive gut health microbes at low active doses.
