by Nutritional supplements have become an important part of everyday life for millions of people in Germany. These dietary supplements contain essential vitamins, minerals, fiber, fatty acids, or other nutritional substances that may provide health benefits when consumed along with a varied diet. Nutritional supplements help meet the daily macro and micronutrient needs of individuals and complete the gap between regular dietary intake and recommended daily intake. They play a crucial role in maintaining overall health and wellness. With rising health concerns among consumers and growing awareness of the benefits of preventive healthcare, the demand for nutritional supplements is on the rise in Germany.
The global Germany Nutritional Supplements Market is estimated to be valued at US$ 805.85 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the Germany nutritional supplements market is the growing demand for plant-based supplements. People are increasingly opting for supplements derived from plant and herbal sources over synthetically produced variants owing to perceived health benefits. According to industry estimates, herbal supplements grabbed nearly 40% share of the Germany nutritional supplements market in 2022. Furthermore, rising popularity of functional foods and beverages containing vitamins, minerals, probiotics, and other beneficial components is expected to drive market growth over the forecast period. The supplements market is witnessing significant innovation with new product launches focusing on specific health benefits for conditions like immunity, heart health, brain health, gut health etc.
Porter’s Analysis:
Threat of new entrants: Low as nutritional supplement market in Germany is already dominated by few established brands. High costs are involved in R&D, marketing, and distribution to enter this market.
Bargaining power of buyers: High as buyers have numerous brands to choose from. Buyers can negotiate on price and demands for better quality products.
Bargaining power of suppliers: Low as there are many suppliers for raw materials. Switching to alternate suppliers is easy.
Threat of new substitutes: Low as no direct alternatives for nutritional supplements are available. However, some close substitutes exist like diet and exercise.
Competitive rivalry: Intense as top players compete on basis of new product innovation, marketing strategies and premium quality. Major players focus on expanding their product portfolios.
Key Takeaways
The Global Germany Nutritional Supplements Market Demand is expected to witness high growth. The global Germany Nutritional Supplements Market is estimated to be valued at US$ 805.85 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
Regional analysis related content comprises regional analysis related content: The Germany market dominated the European nutritional supplements market in 2021. Factors such as increasing health awareness, rising disposable income are driving the Germany market growth.
Key players related content comprises key players related content: Key players operating in the Germany Nutritional Supplements market are Mentor Medical. Mentor Medical specializes in sports nutrition and medical food supplements. The company aims to expand its product portfolio in Germany through continuous R&D investments.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
