Market Size of Europe Botanical Supplements Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 7.70 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Europe Botanical Supplements market Analysis
Europe Botanical Supplements market is projected to register a CAGR of 7.7% during the forecast period, 2022-2027.
Evolving health and wellness trends have promoted the consumer shift toward natural products and flavors which has significantly impacted the market's growth in the region. Consumers are willing to limit their exposure to the harmful chemicals used in conventional products owing to the growing awareness about the health and benefits of botanical products. For instance, According to FIBL(Research Institute of Organic Agriculture), European consumers spent EUR 63.3 on organic food per person in 2020, stating that consumer spending on organic food has doubled in the last decade. In 2020, Switzerland and Danish consumers spent the most on organic food (EUR 418 and EUR 384 per capita, respectively). Additionally, players operating in the market are taking action to make the products readily available to all consumers through different distribution channels. They can be bought over the counter in pharmacies, supermarkets, specialist shops, and via the internet. The presence of branded products and privately labeled products coupled with the growth in retail channels is expected to fuel the growth of botanical supplements in the country.
Moreover, with innovations in health supplements, players are introducing new flavors, and of which the number of consumers is expected to increase during the forecast period. The major players in the market are also successful in promoting the benefits of organic products. However, the availability of substitute products like conventional products which are also pocket friendly has the potential to hinder the growth of the market.
Europe Botanical Supplements market Industry Segmentation
Botanical supplements are derived preparations made from plants, plant parts, plant extracts, algae, fungi, or lichens. The botanical supplements market is segmented by form, distribution channel, and geography. By form, the market is segmented as powder, capsules, tablets, and other forms. By distribution channel, it is segmented as supermarkets/hypermarkets, pharmacies/ drug stores, online stores, and other distribution channels. Based on geography, the market studied is segmented into the United Kingdom, Germany, Spain, France, Italy, Russia, and the Rest of Europe. The report contains the top-line revenues and a detailed qualitative analysis of the global key players, highlighting the most adopted strategies and recent developments of the companies in the market studied. For each segment, the market sizing and forecasts are done in terms of value (USD million).
By Form | |
Powder | |
Capsules | |
Tablets | |
Other Forms |
By Distibution Channel | |
Supermarkets and Hypermarkets | |
Pharmacies/ Drug Stores | |
Online Stores | |
Other Distribution Channels |
By Geography | |
United Kingdom | |
Germany | |
Spain | |
France | |
Italy | |
Russia | |
Rest of Europe |
Europe Botanical Supplements Market Size Summary
The European botanical supplements market is experiencing significant growth, driven by a shift in consumer preferences towards natural products and flavors. This trend is largely influenced by increasing awareness of the health benefits associated with botanical products, as consumers seek to reduce their exposure to harmful chemicals found in conventional products. The market is further bolstered by the availability of these supplements through various distribution channels, including pharmacies, supermarkets, specialist shops, and online platforms. The introduction of innovative flavors and formulations by major players is expected to attract more consumers, although the presence of cost-effective conventional substitutes may pose a challenge to market expansion. The convenience of botanical supplements, particularly in tablet form, is also contributing to their popularity, as they offer an easy and portable solution for meeting daily nutritional needs.
The market is characterized by a competitive landscape with both global and regional players striving to enhance their presence in Europe. Companies are focusing on product innovation, strategic acquisitions, and expansions to broaden their customer base. Notable developments include the launch of sustainable and children's supplement ranges by Stada's Nature's Aid, and the introduction of joint health products by FutureCeuticals. The market's growth is supported by the increasing consumer interest in preventive healthcare and personalized wellness solutions, prompting producers to explore new applications and therapeutic benefits of botanical supplements. As consumers continue to prioritize health and convenience, the demand for these products is expected to rise, further driving market growth.
Europe Botanical Supplements Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Form
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2.1.1 Powder
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2.1.2 Capsules
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2.1.3 Tablets
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2.1.4 Other Forms
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2.2 By Distibution Channel
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2.2.1 Supermarkets and Hypermarkets
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2.2.2 Pharmacies/ Drug Stores
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2.2.3 Online Stores
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2.2.4 Other Distribution Channels
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2.3 By Geography
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2.3.1 United Kingdom
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2.3.2 Germany
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2.3.3 Spain
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2.3.4 France
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2.3.5 Italy
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2.3.6 Russia
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2.3.7 Rest of Europe
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Europe Botanical Supplements Market Size FAQs
What is the current Europe Botanical Supplements Market size?
The Europe Botanical Supplements Market is projected to register a CAGR of 7.70% during the forecast period (2024-2029)
Who are the key players in Europe Botanical Supplements Market?
Himalaya Wellness Latvia SIA. , Gaia Herbs Farm, GNC Holdings, LLC , NOW Foods and Zein Pharma are the major companies operating in the Europe Botanical Supplements Market.