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Europe Nutraceutical Ingredients Market by Type (Probiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Fibers and Specialty Carbohydrates), Application (Food & Beverages, Animal Nutrition, Dietary Supplements), and Region (UK, Germany, Spain, Italy, France, London, and Rest of the Europe Countries) - Regional Industry Analysis on Market Size, Growth, Trends, Development Analysis Report 2022 to 2027

Published: March, 2023
ID: 4925
Pages: 145
Formats: report pdf report excel report power bi report ppt

Europe Nutraceutical Ingredients Market Size Analysis 2022 - 2027:

Europe Nutraceutical Ingredients Market size was valued at US$ 41.95 billion in 2020. The market is expected to grow at a compound annual growth rate of 6.88% over the forecast period to reach a valuation of US$ 62.6 billion by 2026.

Europe Nutraceutical Ingredients Market Overview:

Nutraceuticals help to modify and maintain physiological functions for optimal medical and personal benefits. They include antioxidants, probiotics and polyunsaturated fatty acids that limit health problems such as obesity, cardiovascular disease, cancer, cholesterol, arthritis and diabetes. Young people and wealthy clients realize the many benefits of nutraceuticals through the media, medical resources and the Internet. The word nutraceutical is derived from nutrients (nutritional food component) and pharmaceutical (medicine), a broad term that describes the product obtained from food sources with additional health benefits as well as fundamental nutritional values. Food supplements not only meet daily dietary needs but also prevent disease and increase physical performance.

  • In the European region, nutraceuticals are gaining in importance and are part of the consumer's daily diet. The reasons for this change were the higher prevalence of lifestyle-related illnesses and people taking preventative health measures.
  • With the increase in life expectancy and the consequent increase in lifestyle-related diseases, nutraceuticals have become a necessity for consumers, particularly in a developed market, such as the European region.
  • Functional foods represent the largest category of participation in the European nutraceutical ingredients market, followed by functional drinks and dietary supplements.
  • It is expected that increased health awareness, interest in a healthier lifestyle and higher demand for health and wellness products will increase the demand for dietary supplements. Vitamins are the most commonly consumed supplement for adults and children worldwide.

Recent Development in the Europe nutraceutical ingredients Industry:

  • Lipofoods SLU has become an integral part of Lubrizol Life Scient Health division in January 2020, increasing the global footprint of LLS Health and supporting its long-term goal to excel in the nutraceuticals business.

Europe nutraceutical ingredients Market Growth and Trends:

Germany dominates the Europe nutraceutical ingredients market-

Germany has the maximum market share of 14%, followed by the United Kingdom and France. Consumers in the UK valued protein-rich products for their health benefits, and therefore increased the target audience of traditional gym enthusiasts and general fitness enthusiasts. The most popular category with a protein-rich fortification is breakfast cereals. Germany has around 82 million consumers, making it the most abundant food and beverage retail market in Europe. German consumers tend to buy less and less frequently. However, they demand high-quality products, including organic food and health and wellness products.

Europe Nutraceutical Ingredients Market Drivers and Restraints:

Drivers:

Key market trends are largely influenced by changing consumer wishes and concerns. Growing concern over lifestyle-related illnesses, including diabetes and obesity, has led consumers to use nutraceuticals as a means of reducing the likelihood of disease. With rising healthcare costs, nutraceuticals offer a more cost-effective alternative to pharmaceuticals and give consumers a better sense of self-health with less risk of unwanted side effects. Nutraceutical ingredients have several health benefits, and they can find applications in the personal care segment due to its multiple benefits. Due to the anti-aging property, the integration of nutraceuticals in personal care is branched into "Cosmeceuticals".

Restraints:

The increase in manufacturing costs and the increase in public service spending will remain a worrying factor for players in the food supplement market for the next eight years. The cost of producing raw materials for nutraceuticals has increased significantly, which limits consumers to take advantage of these characteristics. Limited production of quality nutraceuticals increases demand more than supply. In addition, laboratory-to-market channeling for these products generally takes a lot of time.

Europe nutraceutical ingredients Market Segmentation Analysis:

The Europe Nutraceutical Ingredients market is mainly categorized based on the type and application.

By type, the regional market is divided into Probiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Fibers & Specialty Carbohydrates. Probiotics account for a prominent revenue share in the Europe nutraceutical ingredients business due to the medical applications related to them. Proteins and amino acids are also expected to expand at a noteworthy growth rate in the coming years.

By application, the Europe nutraceutical ingredients market is separated into Food & Beverages, Animal Nutrition, Dietary Supplements, and Others. Among these, the food and beverages segment is leading the local market, owing to the increased demand for functional foods and drinks. Dietary supplements also account for a considerable portion, which is foreseen to augment in the future.

Regional Analysis:

Germany, the Netherlands, and Sweden have become key centers for nutraceutical development in Europe. In contrast, the United Kingdom and Spain have become key test markets for new products, with European customers seeking energy from products that promote teeth health, strong bones, prevent digestive health problems, stimulate the immune system, and reduce cholesterol. Germany is the leading market in this region, owing to the strength of the economy and the low unemployment rate. The aging population is fueling the demand for functional drinks to prevent or overcome health problems. They consider functional beverages to be a bottle of food.

Key Players in the Europe Nutraceutical Ingredients Market:

The main players in the Europe nutraceutical market ingredients are

  • E.I. du Pont de Nemours and Company
  • General Mills Inc
  • Cargill
  • Royal DSM N.V
  • Groupe Danone S.A
  • Incorporated
  • BASF SE
  • Archer Daniels Midland Company
  • Evonik
  • Kyowa
  • Arla Foods

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