No. of Pages: 162 | Report Code: BMIRE00031845 | Category: Consumer Goods
The Europe nutraceuticals market was valued at US$ 118.98 billion in 2023 and is expected to reach US$ 215.43 billion by 2031; it is estimated to register a CAGR of 7.7% from 2023 to 2031.
The emergence of e-commerce has significantly transformed the way people shop and spend their money. A positive change in the organized retail sector, a rise in the reach of smartphones and the internet, upsurge in purchasing power, easy access to emerging technologies, and convenience provided by online retail shopping platforms from anywhere at any time are a few of the major factors bolstering the penetration of e-commerce worldwide. Consumers are becoming confident about purchasing various nutraceutical products online, moving from the traditional purchasing model to the home delivery service model. Moreover, online sales of nutraceuticals grew significantly during the COVID-19 pandemic due to the shutdown of physical stores and the government's imposition of social restrictions. As lockdowns constrained people's movement and compelled them to stay home, there was a substantial inclination toward online shopping.
With the increasing penetration of online shopping, manufacturers are selling products through direct-to-customer (D-to-C) channels by launching their online retail sites, thereby eliminating the need to invest in expensive marketing and distribution infrastructure. For instance, Herbalife International, Inc; Now Foods, Quest Nutrition has their own retail channels. Thus, the increasing dependency on e-commerce services and the adoption of the D-to-C strategy by manufacturers are expected to create lucrative opportunities for the nutraceuticals market growth in the coming years.
The emergence of e-commerce has significantly transformed the way people shop and spend their money. A positive change in the organized retail sector, a rise in the reach of smartphones and the internet, upsurge in purchasing power, easy access to emerging technologies, and convenience provided by online retail shopping platforms from anywhere at any time are a few of the major factors bolstering the penetration of e-commerce worldwide. Consumers are becoming confident about purchasing various nutraceutical products online, moving from the traditional purchasing model to the home delivery service model. Moreover, online sales of nutraceuticals grew significantly during the COVID-19 pandemic due to the shutdown of physical stores and the government's imposition of social restrictions. As lockdowns constrained people's movement and compelled them to stay home, there was a substantial inclination toward online shopping.
With the increasing penetration of online shopping, manufacturers are selling products through direct-to-customer (D-to-C) channels by launching their online retail sites, thereby eliminating the need to invest in expensive marketing and distribution infrastructure. For instance, Herbalife International, Inc; Now Foods, Quest Nutrition has their own retail channels. Thus, the increasing dependency on e-commerce services and the adoption of the D-to-C strategy by manufacturers are expected to create lucrative opportunities for the nutraceuticals market growth in the coming years.
Europe Nutraceuticals Market Strategic Insights
Get more information on this report Europe Nutraceuticals Market Segmentation Analysis
The Europe nutraceuticals market is categorized into type, distribution channel, and country.
Based on type, the Europe nutraceuticals market is segmented into gr functional foods, functional beverages, and dietary supplements. The functional foods segment held the largest market share in 2023. The dietary supplements segment is further sub segmented into general wellness, sports nutrition, weight management, immune health, and others.
In terms of distribution channel, the Europe nutraceuticals market is segmented into supermarkets and hypermarkets, specialty stores, online retail, convenience stores, and others. The supermarkets and hypermarkets segment held the largest market share in 2023.
By country, the Europe nutraceuticals market is segmented into Germany, France, Italy, Spain, the UK, and the Rest of Europe. The Rest of Europe dominated the Europe nutraceuticals market share in 2023.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 118.98 Billion |
| Market Size by 2031 | US$ 215.43 Billion |
| Global CAGR (2023 - 2031) | 7.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
Glanbia Plc, NOW Health Group Inc, Amway Corp, Nature's Bounty, Garden of Life LLC, Danone SA, GNC Holdings LLC, Quest Nutrition LLC, Kellanova, and Chobani LLC are among the leading companies operating in the Europe nutraceuticals market.
The Europe Nutraceuticals Market is valued at US$ 118.98 Billion in 2023, it is projected to reach US$ 215.43 Billion by 2031.
As per our report Europe Nutraceuticals Market, the market size is valued at US$ 118.98 Billion in 2023, projecting it to reach US$ 215.43 Billion by 2031. This translates to a CAGR of approximately 7.7% during the forecast period.
The Europe Nutraceuticals Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Nutraceuticals Market report:
The Europe Nutraceuticals Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Nutraceuticals Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Nutraceuticals Market value chain can benefit from the information contained in a comprehensive market report.
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