Europe Nutrition And Supplements Market Growth & Trends
The Europe nutrition and supplements market size is expected to reach USD 102.5 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% from 2022 to 2030. The growing inclination of the European population towards fitness and health is a key factor driving the market. The demand for enriched foods, functional foods, and nutritional supplements across European countries has also risen. The newfound interest in preventative health using supplementation and functional foods has also contributed significantly to the growth.
The high prevalence of diseases like diabetes, cardiovascular diseases, and other chronic diseases has urged people to follow a healthier lifestyle and incorporate nutrient-rich food, using nutritional supplements as well as immunity-boosting supplements. The COVID-19 pandemic resulted in a sudden spike in this department. The sales reached exponentially high values as compared to previous years and this was a key factor driving the market.
Sports nutrition and other nutritional supplements have been gaining a lot of popularity in recent years. Fitness and well-being have become a priority for combating lifestyle diseases and leading healthy lives. Holistic nutrition has also been in trend and is also contributing to the growth of the European market. With the opening of new fitness centers and gyms post COVID restrictions, the engagement in sports activities is increasing and has also led to the increased consumption of sports nutrition supplements like protein shakes and weight loss products, thus significantly contributing to the market growth.
The functional foods and beverages product segment consisting of probiotics, omega-3, and others dominated the market in 2021. The rise in demand for these products has been largely due to their multifarious benefits and their promotion on social media platforms through influencers and fitness enthusiasts. The sports nutrition category has been gaining a lot of traction owing to an increase in interest in maintaining a healthy and active lifestyle as a preventative measure to avoid lifestyle diseases. As per Europa, the physically active population across Europe was about 54% in the recent Eurobarometer survey. This has been a key factor fueling the growth of the European market.
Powder formulation was the largest segment in 2021. High product density in the European market, ease of consumption, and benefits of high absorption rates are fueling the growth in the segment. The majority of the sports nutrition segment has product offerings in powder formulation, which has also contributed significantly to the growth. The capsules segment is expected to witness lucrative growth in the forecast period due to the advantages like low chances of GI tract irritability, ease of consumption, and unlike powder formulations, doses can be changed as per needs.
The adult consumer group segment dominated the market in 2021. The growing interest in health and fitness and a keen interest in avoiding potential lifestyle diseases have been the key growth drivers. The adult population’s susceptibility to developing disorders and diseases has also led to the increased consumption of supplements, thus driving the segment. The geriatric consumer group segment is expected to grow owing to the need for nutrient supplementation for combating deficiencies and maintaining a healthy diet. These have been key factors fueling the growth of the market in Europe.
The brick-and-mortar sales channel accounted for the largest revenue share of over 70.0% in 2021. The pandemic saw a massive spike in the sales of nutrition supplements through both online and retail sales. The majority of the consumers have been shifting towards online purchases of supplements. This paradigm shift has made the e-commerce platform the fastest-growing channel for distribution in Europe. The key market player strategies for increasing sales have been towards using online sales channels to reach a wider population base, which eventually has contributed to the growth of the nutrition supplements market.
The rest of Europe had the largest revenue share in 2021. Countries like Sweden and Norway are increasingly becoming leading markets for nutritional supplements and associated products. Increasing demand for veganism and natural foods has been leading the market towards growth. Other countries the U.K., Germany, and Italy have also been registering increasing demand for nutritional supplements. The Italian population has been increasingly using dietary supplements and the interest in functional foods has risen. Due to this, the sales have skyrocketed, resulting in a massive growth of the market in the country. The increase in the number of elderly people in these countries and the rising demand for dietary supplements and functional foods as a means to a healthy lifestyle have been the key factors fostering the growth of the market.
The COVID-19 pandemic has immensely contributed to the growth of the nutrition and supplements market in Europe. Western Europe, which was highly impacted due to COVID, along with other regions saw a monumental increase in sales of immune-boosting supplements, vitamins, and other nutrition supplements. A survey conducted by the Italian Association of Health Products Manufacturers and Distributors showed a peak in online sales, amounting to $1.17 billion during the pandemic.
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Europe Nutrition And Supplements Market Report
Europe Nutrition And Supplements Market Report Highlights
- The functional foods and beverages product segment accounted for the largest revenue share of over 55.0% in 2021. The demand for these products has risen significantly owing to a shift in people’s consciousness toward health
- The powder formulation segment held the largest revenue share of over 35.0% in 2021. The wide range of products available in the powder form for consumption across all age groups is driving this segment
- The adults’ consumer group segment captured the largest revenue share in 2021 owing to an increase in awareness regarding health as well as the adoption of nutrient supplementation to avoid lifestyle or deficiency-related diseases
- The e-commerce sales channel segment is expected to emerge as the fastest-growing segment over the forecast period owing to strategic initiatives undertaken by companies to boost product sales
- The rest of Europe including countries like Sweden and Norway is leading the market. Italy, the U.K., and Germany are among other countries with the increasing consumption and demand for nutrition supplements across Europe
