Aging Population Is Key Driving Force of Vitamins & Dietary Supplements Market in Western Europe
06 Feb 2018 • by Natalie Aster
LONDON – Whilst Western Europe is increasing at the slowest pace globally, the increasing number of aged people, enhancing focus on diseases prevention, rising popularity of online self-education and uptake in e-commerce are still encouraging modest but healthy growth. This region shows lucrative opportunities for vitamins and dietary supplements (VDS) to support healthy aging and digestive health.
Although stringent regulative framework for VDS, lack of consumer habit and the EU debt crisis are considerably restraining growth of the VDS market in Western Europe, this regional market still has growth potential owing to rapidly aging population demanding more VDS products to prevent different diseases and also support healthy living practices to raise healthy life span.
Dietary Supplements Command the Biggest Share of the Western European VDS Market
Dietary supplements from the largest category within the regional VDS market, this category enjoys steady uptake. Four country-wide markets (Italy, the UK, France and Germany) together capture a share of more than 70% of the region’s dietary supplements sales value.
Aged people in Western Europe are increasingly opting for 2 sub-types of dietary supplements: protein and probiotic supplements. Despite the fact that the probiotic supplements sub-segment accounted for the biggest share of the Western European dietary supplement segment in 2017, with its value sales exceeding protein supplements’ value sales by around 27 times in 2017; the protein supplements sub-segment was the most rapidly growing in the region over 2012-2017. Italy and France rank top consumers of protein and probiotic supplements in Western Europe, together accounting for a value share of nearly 80%. Meantime, the highest rates of demand growth are witnessed in Greece.
Grocery and E-Commerce Channels Expand their Shares
At present, chemists/pharmacies remain the major distribution channel for VDS in Western Europe. However, in the wake of grocery retailers’ expansion of their product range with VDS especially in France, and also rising online sales of VDS in Germany and the UK, other country-wide markets for VDS in Western Europe are anticipated to follow channel expansion trends encouraged by consumers’ increasing inclination towards online shopping and rising demand for value convenience.
More trustworthy, up-to-date information on this market is available in the cutting-edge research report “Vitamins and Dietary Supplements (VDS) in Western Europe” elaborated by Euromonitor International.