Europe enjoys a high status in health care services, with the countries such as France and Germany featuring as the leading health providers at the global level. The prevalent high awareness and consciousness of health maintenance in the country has greatly supported the growth of the nutraceuticals in this region. Additionally, Europe also hosts a rapidly ageing population which has helped in creating a large segment of individuals for whom health is a primary concern. This has been largely driven the eating habits of the increasingly expanding middle aged and old population. Additionally, a majority of the consumers who belong to the middle and upper class in Europe are internet savvy, well read and are interested in information about food and beverages they consume. These factors have provided a necessary impetus to the growth of the nutraceuticals sector across the nations.
The nutraceuticals industry in Europe has been growing at a CAGR of 3.9% from 2006 to 2012. The proceeds of Europe are contributed by sales in four major countries including the UK, Germany, France and Italy. The growth of the nutraceuticals sector has marked varied patterns across different regions in Europe. The countries belonging to the Western Europe are far more evolved in terms of product offerings and range than their Eastern counterparts. However, the nutraceuticals industry is rapidly evolving in the eastern regions with spreading awareness and economic upturn. Amongst the chief markets of nutraceuticals in Eastern Europe, Russia is the leading market followed by Poland and Ukraine. The sales of the nutraceuticals in these regions are also provided impetus by the rapidly ageing demography.
The revenues generated from the UK nutraceutical industry have grown steadily over the period of 2006-2012 in terms of contribution, registering a ~% increase from ~% in 2006. The continuously growing sales helped the country to advance to the leading position in 2008, surpassing Germany. The maximum growth in revenue contribution over the years has been showcased by Italy whose shares inclined from ~% in 2006 to 17.8% in 2012. A continuous favorability towards nutraceuticals and health portrayed by the Italian people even during the adverse economic periods has helped the market to generate increasing revenues over the years. The contributions from France and Germany, on the other hand, have traced an irregular pattern over the years, with the spending on nutraceuticals being heavily affected by the inclining maturity of the market offerings along with lowering disposable incomes.
The nutraceuticals market in Europe is presently suffering from a sluggish growth, forced by recession and cautious spending by the consumers. The maturing nature of the major markets has reinstated the need for novel products in the market which suit the specific needs and requirements of the target consumers. An improving financial environment in the future years and growing awareness about nutritive requirements amongst people is expected to provide encouragement to the business conditions of nutraceuticals industry in Europe.
The report on “
Europe Nutraceuticals Industry Outlook to 2017 - Improving Economic Conditions to Propel Growth” provides detailed overview on the nutraceuticals market in the European region from various perspectives. The report encloses a comprehensive analysis of the various segments of the market reflecting the present scenario and future growth affected by changing industry dynamics in coming years. Additionally, the report also entails information about the market structure, segmentation and rational analysis of the macroeconomic factors, along with the profiles of the major market players of the nutraceuticals industry in different countries. The report will help industry consultants, nutraceutical, functional food and beverages manufacturers and distributors, and other stakeholders align their market centric strategies according to ongoing and expected trends in future.
