The Europe vegan supplements market growth is estimated to progress at a CAGR of 8.06% during the forecast period, 2021-2028. The rising product availability through distribution channels like e-commerce is a major growth driver in the region.
Russia, the United Kingdom, Belgium, Germany, Scandinavia, Italy, France, and Rest of Europe, are assessed for the Europe vegan supplements market growth analysis. In Germany, health-conscious consumers are more inclined to vegan and vegetarian products. Also, as per a survey, the number of vegan consumers doubled in 2020 from 2016. In addition, the dietary supplements market is projecting a steady growth due to increasing expenditure on products perceived as healthy, rising online sales platforms, and growing preference among women. Moreover, there has been a surge in homeopathic formulations and botanicals sales due to their associated label claims and natural profile. Such factors propel market growth in Germany.
In Russia, the dietary supplements market is witnessing growing demands due to the international presence of brands. As a result, there is also a rising demand for vegan supplements. Additionally, the vegan food industry is supplemented by an incubator for alternative protein and plant-based brands. It will be launched by the new Association of Alternative Food Products Producers (AAFPP), with the first of its kind in Russia.
In Belgium, the consumption of vegan products has been on a significant rise, with consumers opting for sustainable and healthy products. Also, many retailers are recording ever-increasing sales. In addition, dietary supplements are recording sales due to the growing awareness about their multiple benefits. This is also accredited to the changing perception of food supplement products among consumers.
Some of the major firms in the market include Kerry Group, Nestle, Herbalife Ltd, Nugo Nutrition, GNC Holdings, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments