by The Germany nutritional supplements market is estimated to be valued at US$ 4.86 Billion in 2022 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nutritional supplements in Germany include vitamins, minerals, herbals, botanicals, amino acids, enzymes and many other products that are intended to supplement the diet. The supplements are available in various forms such as tablets, capsules, liquids and powders. They provide health benefits such as boosting energy and immunity, bone health, heart health, digestive health and weight management. The supplements market in Germany is gaining traction especially among health conscious consumers who prefer preventive healthcare approach.
Market Dynamics:
The Germany nutritional supplements market is driven by increasing health awareness among consumers and rising prevalence of chronic diseases. Growing disposable incomes have also boosted discretionary spending on preventive healthcare products. In addition, easy availability of supplements through the burgeoning e-commerce sector is expected to drive the online sales of these products in Germany. Key players are launching new formulations catering to specific health conditions such as bone & joint health, cognitive health and sports nutrition to meet the personalized needs of consumers. Furthermore, growing fitness trends and rising health insurance coverage are expected to propel the demand for nutritional supplements in Germany over the forecast period.
Segment Analysis
The Germany Nutritional Supplements Market is dominated by the vitamin supplements segment. Within vitamin supplements, multivitamins dominate the segment owing to the increasing health and wellness trends in German consumers. Multivitamins provide essential vitamins and minerals required by the body in a single capsule or tablet, thereby witnessing high demand.
PEST Analysis
Political: Regulatory requirements for manufacturing, labeling and marketing of supplements in Germany are among the strictest in Europe. Supplement companies have to follow stringent EU level regulations.
Economic: The Germany economy has witnessed steady growth over the past decade. Rising disposable incomes have increased the spending ability of consumers on health and wellness products such as nutritional supplements.
Social: German consumers are increasingly becoming health conscious and are incorporating supplements in daily diet to bridge nutritional deficiencies and promote overall wellbeing. The trend of preventive healthcare is driving the growth of supplements market.
Technological: Technological advancements have enabled supplement companies to develop targeted supplements for varied health conditions. Smart formulations deliver precise doses of nutrients, improving absorption and efficacy.
Key Takeaways
The Germany nutritional supplements market size was valued at US$ 4.86 Billion In 2022. The market is expected to grow at a CAGR of 3.3% during 2023-2030 driven by growing elderly population.
Regional analysis indicates that South Germany dominates the nutritional supplements market in Germany owing to higher health awareness and spending power. North Germany is also a major regional market.
Key players operating in the Germany nutritional supplements market are Queisser Pharma GmbH & Company KG, Nutraceuticals Group, Dr.B.Scheffler Nachfolger GmbH & Co. KG, ZeinPharma Germany GmbH, Pamex Pharmaceuticals GmbH, Ayanda GmbH, Sabinsa Europe GmbH, Denk Pharma GmbH & Co. KG, and Pascoe Naturmedizin. Key players are focusing on new product launches and adopting organic and inorganic growth strategies like mergers & acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
