Europe Nutraceutical Market to grow with a CAGR of 5.98% through 2028
Growing demand for personalized
nutrition is expected to drive the Europe Nutraceutical Market in the forecast
period 2024-2028
According
to TechSci Research report, “Europe Nutraceutical Market – Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the Europe
Nutraceutical Market is valued at USD 85.69 Billion in 2022 and is expected
to grow with a CAGR of 5.98% through the forecast period. This can be ascribed to
collaborations and partnerships among leading companies with a diverse approach
to merge the expertise of individual companies and to strengthen their position
in the market.
The increased demand for functional and healthy
foods is serving as a powerful catalyst for the growth of the nutraceutical
market. This surge in demand is driven by a global shift towards more
health-conscious consumer behavior, where individuals are actively seeking out
foods that not only satiate hunger but also provide added health benefits. Functional
foods are designed to offer specific health benefits beyond their basic
nutritional value. They are enriched with bioactive compounds, such as
probiotics, prebiotics, antioxidants, and various vitamins and minerals, which
are known to support bodily functions and address specific health concerns.
These foods are viewed as a proactive approach to health management, helping
individuals address nutritional deficiencies and reduce the risk of chronic
diseases.
Moreover, the trend towards healthy eating habits
and wellness-oriented lifestyles has gained substantial momentum. Consumers are
increasingly mindful of the impact of their dietary choices on their overall
well-being. They are seeking foods that not only taste good but also contribute
to their overall health and vitality. Functional foods, with their
scientifically supported health benefits, align perfectly with this consumer
mindset.The COVID-19 pandemic has further amplified the focus on health and wellness.
Consumers are now more acutely aware of the critical role that a well-balanced
diet plays in supporting the immune system and overall health. This heightened
awareness has led to a surge in demand for functional foods that are fortified
with immune-boosting ingredients like vitamins, minerals, and herbal extracts.
Furthermore, the preference for natural and
minimally processed foods is driving the demand for functional ingredients
derived from plants and botanicals. Ingredients like turmeric, ginger, and
green tea, known for their health-promoting properties, are being incorporated
into a wide array of functional foods and beverages. This natural and holistic
approach to health resonates strongly with consumers seeking clean label
options. The expanding array of functional food products is also contributing
to market growth. Manufacturers are innovating and introducing a diverse range
of functional foods, including fortified cereals, yogurt with added probiotics,
and beverages enriched with vitamins and antioxidants. This diverse product
offering caters to a wide range of consumer preferences and dietary needs.
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"Europe Nutraceutical Market.”
In October 2021, Nexira unveiled Heptura, an
innovative ingredient designed for liver protection and detoxification
purposes. Heptura is a natural blend of Immortelle and Clove sourced from the
rugged and sun-drenched terrain of the Corsican maquis in France. Undergoing a
detox regimen can contribute to sustaining energy levels, promoting vitality,
and fortifying the immune system.
As consumer awareness regarding sustainability and
ethical practices continues to rise, nutraceutical companies are encountering
an escalating demand for transparency and responsibility in their sourcing and
production processes. This challenge arises from a collective societal shift
towards more environmentally conscious consumption habits. Consumers are
increasingly scrutinizing the origin and production methods of the products
they consume, including nutraceuticals. They are advocating for companies to
adopt sustainable sourcing practices, reduce environmental impact, and uphold
ethical labor standards throughout the supply chain. This growing pressure
represents a pivotal challenge for nutraceutical companies. They must invest in
sustainable sourcing, adopt eco-friendly production methods, and ensure fair
labor practices, all while maintaining product efficacy and affordability. Successfully
meeting this challenge not only aligns with ethical consumer expectations but
also positions companies to thrive in a market where sustainability and social
responsibility are becoming central tenets of corporate identity and consumer
loyalty. Europe Nutraceutical Market segmentation is based on
product type, form, source, distribution channel, Company, and Region.
Some
of the major companies operating in the Europe
Nutraceutical Market include:
- Nestle S.A.
- The Kellogg's Company
- Amway Corporation
- The Coca-Cola Company
- Nature's Bounty Inc
- Herbalife Nutrition U.S.
- General Mills Inc
- The Kraft Heinz Company
- PepsiCo, Inc.
- Sanofi SA
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“Certain regions, particularly the Germany,
are anticipated to be substantial drivers of demand for nutraceutical products.
This is attributed to a combination of factors, including a well-established
healthcare infrastructure, a health-conscious populace, and a robust economy.
Germany's population places a significant emphasis on health and wellness,
leading to a heightened demand for nutraceuticals. Additionally, the country
boasts a sophisticated healthcare system, which includes a network of
pharmacies and healthcare practitioners that often recommend or prescribe
nutraceutical products. Furthermore, Germany has a strong presence in
pharmaceutical and biotechnology industries, providing a solid foundation for
nutraceutical research, development, and production. These factors collectively
position Germany as a key market for nutraceuticals, and the trend is
anticipated to persist in the foreseeable future.," said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Global management
consulting firm.
Europe
Nutraceutical Market By Product Type (Functional Food, Functional Beverage,
Dietary Supplement), By Form (Tablets, Capsules, Liquid, Powder, Others), By
Source (Animal, Plant, Microbial), By Distribution Channel (Specialty Stores,
Online, Pharmacies, Hypermarkets/ Supermarkets), By Region, Competition,
Forecast and Opportunities, 2028 has
evaluated the future growth potential of Europe Nutraceutical Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Europe Nutraceutical Market.
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