The Europe Wellness Supplements Market was at US$ xx million in 2022, and it is estimated that it will reach US$ xx million by 2028 with an annual development rate of xx% between 2023 and 2028.
Wellness supplements are substances that are meant to add nutritional value to your diet to promote health. Wellness supplements are essential to maintaining a healthy life. The supplement contains all the minerals in sufficient quantities to meet your daily needs for a healthy life. Food supplements usually contain calcium, vitamin D, folic acid, and vitamin B12. Pregnant women and breastfeeding women commonly use these supplements, which are essential because they contain high amounts of folic acid. Strict vegetarians may not get enough vitamin B12, zinc, and iron, and these tablets can be used as a supplement.
The Europe wellness supplements market is inherently fragmented with several major and emerging players. There are no distinct leaders in the wellness supplement market, as each product segment is dominated by many players.
Increasing health awareness among people is one of the main factors driving the demand for Europe wellness supplements. All over the region, consumers are increasingly realizing the benefits of prophylactic health over treatment, leading to a transition to a healthier lifestyle. Additionally, the market is being revitalized as awareness of wellness products increases. In addition, the growing disposable income of consumers in developing countries is driving sales in the region, expanding the entireEuropean market. An aging population generally favors the market due to a poor immune system. The growth of the European dietary supplement market is largely driven by factors such as the increasing elderly population, increasing prevalence of chronic diseases, increased awareness of the benefits of dietary supplements, increasing healthcare costs and consumer shift from treatment to prevention. Wellness supplements are essential to maintaining a healthy life. Pregnant women can use food supplements because they contain large amounts of folic acid. Therefore, market participants are focused on adopting new technologies to differentiate their products from those of the competition, making the market for wellness supplements very competitive. The wellness supplement market is experiencing remarkable growth due to an aging population and associated health issues, which is driving demand in Europe.
The demand for specialty supplements is also increasing on the continent, and companies in the region are expanding their reach both regionally and internationally by making extensive use of e-commerce platforms. The growing awareness of the many benefits of dietary supplements is driving the adoption of these products across Europe. This is largely due to the change in perception of food supplements among consumers in countries such as Denmark, Austria, Belgium and Greece. The growth of the Europe wellness supplement market is largely driven by factors such as increased interest in healthy lifestyles, higher disposable income in emerging economies, increased awareness of wellness products and the health transition therapeutic to preventive.
The high costs associated with wellness supplement products, the lack of distinction from traditional food categories, and changing regulatory policies are factors limiting the growth of the European wellness supplement market. In addition, the marketing of these supplements is subject to strict regulations, so changes in regulatory policy are negatively impacting the growth of the Europe wellness supplements market. However, regulatory compliance has the potential to slow the growth of the Europe wellness supplement market to some extent. The lack of traditional food categories, high supplemental food costs, increasing regulatory issues, and increased incidence of health issues are likely to hamper the growth of the Europe wellness supplement market during the outlook period.
On a product basis, the Europe wellness supplement market is segmented into dietary supplements, enriched / functional foods and beverages, food intolerance products, and skincare essentials. The dietary supplement segment is expected to account for the majority of the European wellness supplement market by product in 2020. Factors driving the growth areincreasing elderly population in this segment include a higher incidence of chronic disease and increased interest from consumers in a healthy lifestyle.
The coronavirus crisis has mainly affected primary diets that require fruit, vegetable and animal foods as an important source of essential micronutrients in the diet. Micronutrients - Vitamins and minerals are essential for health, disease prevention, and well-being. They are not produced by the body and are derived from the diet. The demand for wellness supplements is expected to increase as consumers choose supplements that boost the immune system during the COVID-19 pandemic. In addition, the decline in the consumption of poultry, meat and seafood products worldwide is supposed to increase the demand for wellness supplements in the near future.
Geographically the Europe Wellness Supplements Market is segmented into UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe. Europe dominates the wellness supplement market with a growing awareness and acceptance of wellness products and a growing interest in healthy lifestyles, along with the growing population and increasing disposable income. Growth in the region is largely complemented by the public's shift in focus to a healthier lifestyle as awareness and acceptance of wellness products increases. Increasing consumers' disposable income is also supporting the intake of wellness supplements in the area.Among countries, Italy is likely to dominate the European wellness supplement market share during the outlook period due to the supportive policy framework for herbal food supplements.
Key Players in the Market:
Major Key Players in the Europe Wellness Supplements Market are
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