The Europe softgels dietary supplements market is projected to grow at the rate of 6.8% to reach a valuation of US$ 32 Billion by 2032 from US$ 16.56 Billion in 2022.
Growth in the market is attributed to the burgeoning treatment cost of diseases like bronchitis, and diabetes, along with the increased spending on healthcare rise. Softgels dietary supplements based on vitamins and minerals accounted for more than half of the global softgels dietary supplements market share in 2021.
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The regulatory authorities across the European countries have been approving nutritional supplements and functional foods to boost the growth of the market in the region. The amendments and changes in the regulatory process regarding the approval of such supplements have made the entire process less cumbersome and have included many sources. As of January 2018, the novel foods including clones derived from bioengineered nanomaterials have gained approval and the new rule has decreased the application processing time from 3 years to 18 months. These regulatory changes in the region are also driving the market.
During the COVID-19, there was an amplified demand for nutritional and dietary supplementation across Europe, which has helped the market to flourish despite the restrictions on transport and disruption in supply chain logistics. Health consciousness has risen in people and during the pandemic, there was a massive increase in the number of online health clubs and an increase in the sales of supplements through online channels. The retail shops also witnessed a large number of people buying vitamins and immune-boosting supplements as a precautionary means to avoid COVID infection. This surge in sales and rapidly increasing demand are projected to fuel the growth of the European market in the coming years.
Competitive Landscape:
Fact.MR has provided detailed information about the price points of key manufacturers in the Softgels Dietary Supplements market positioned across countries, sales growth, production capacity, and speculative technological expansion in the recently published report.
Some of the key developments are :
- In July 2021, soft capsule producer Aenova announced plans to open a new production line in Cornu, Romania. The new can and bottle filling plant in Cornu will be able to fill approximately 12 to 14 million plastic or glass bottles per year.
- In September 2020, Prorganiqan announced the launch of 24-in-1 mega superfoods dietary supplements. These will be packed with various essential greens, veggies, fruits, and herbs, and will deliver improvement in general health and well-being.
- In November 2019, Amway announced an investment of US$ 200 Million to set up an innovation center in China for dietary supplements. This is targeted toward offering custom-made solutions as well as the overall expansion of the company.
- In October 2019, Herbalife introduced a relaxation tea as well as new immunity essentials, formulated with lemon balm, to fight stress.
Key Companies Profiled:
- Abbott
- Amway Corp.
- anona GmbH
- Arkopharma
- Bayer AG
- GlaxoSmithKline plc.
- Otsuka Holdings Co., Ltd
- Pfizer Inc.
- The Bountiful Company
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Segmentation :
- By Ingredient Type :
- Amino Acid
- Botanical
- Vitamin- & Mineral-based
- Other
- By Application :
- Bone and Joint Health
- General Well-being
- Heart Health
- Immune Health and Digestive Health
- Sports Nutrition
- Weight Loss
- Other Applications
- By End User :
- Adults
- Geriatric Population
- Pregnant Women
- Children
- By Country :
- Germany
- Italy
- France
- Spain
- U.K.
- BENELUX
- Rest of Europe
Questionnaire answered in the report include:
- How the industry has grown?
- What is the present and future outlook on the basis of region?
- What are the challenges and opportunities?
- Why the consumption in region?
- In which year segment is expected to overtake segment?
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