Dietary supplements consisting of specific vitamins,proteins, and other micronutrients have been proven to be effective instrengthening the immune system’s response to the COVID infection. A studyconducted by researchers from the University Medical Center in Netherlands, theUniversity of Otago in New Zealand, the University of Southampton in the UK,and the Oregon State University in the US found that vitamins C & D, andDHA, an Omega-3 fatty acid found in fish, can significantly boost immune function.A strong immune system is critical in fighting the COVID-19 infection and asthe pandemic continues its rampage across Europe, the demand for dietarysupplements is set to spike in the region.
Market Driver
Changing Demographicsin Europe to Feed Market Growth
Europe, according to the UN’s Population Division, was thefirst region to enter the period of demographic transition, characterized bylower fertility and improved longevity. The UN states that in 2017, nearly 20%of Europe’s population was aged 60 and above and by 2050, this is expected toreach 35%. This presents attractive opportunities for players in the dietarysupplements market of Europe as older people need to consume supplementary fooditems to maintain their health and energy.
For example, the National Institute of Aging in the USrecommends sufficient intake of calcium for people over the age of 50 formaintaining bone density as bone loss can lead to fractures in older persons.Similarly, physicians commonly recommend old people to increase intake ofvitamin B6, which is present in bananas, potatoes, fortified cereals, andchicken breast, as it is necessary to form red blood cells. Thus, the Europedietary supplements market growth is anticipated to gain impetus as thecontinent’s geriatric population rises.
Regional Insights
Improving AdoptionRate of Food Supplements to Surge the Regional Market
Rising awareness about the multiple benefits of dietarysupplements is improving the adoption rate of these products across Europe. Toa large extent, this is attributable to the changing perception of foodsupplement products among consumers in countries such as Belgium, Austria,Denmark, and Greece. The demand for specialized supplements is also growing inthe continent, and companies in the region are extensively utilizing e-commerceplatforms to broaden their reach regionally as well as internationally.
Among countries, Italy is expected to dominate the Europedietary supplements market share during the forecast period on account ofsupportive policy framework for herbal food supplements in the country. In2019, the region’s market size was at USD 2.99 billion. On the other hand, theUK is anticipated to display a remarkable CAGR of 9.69% in the forthcomingyears.
IndustryDevelopments:
February 2020: Nestle Health Science signed a long-termagreement with VALBIOTIS, a French health R&D company, to develop andcommercialize TOTUM-63. Conceived to lower the risk of development of Type 2Diabetes in pre-diabetic persons, the product features an innovativecombination of five plant extracts.
November 2019: Royal DSM completed its takeover of AVA, aUS-based nutrition platform, strengthening its portfolio of health and wellnessproducts and services. AVA is an AI-based digital health platform that providesadaptive nutrition recommendations and delivers live coaching to customers.
Source: https://www.fortunebusinessinsights.com/industry-reports/dairy-alternatives-market-100221
