Germany nutritional supplements market was valued at US$ 4.86 Billion in 2022, According to Germany Nutritional Supplements Market Report, By Ingredient (Vitamin, Protein, Fatty Acids, Botanical, Minerals, and Others), By Form (Capsule, Powder, Tablet, Liquid, and Others), By Product Type (Dietary Supplements, Sports Supplements, Beauty Supplements, and Others. By Distribution Channel (Hypermarkets & Supermarkets, Pharmacy Stores, Online Channels, and Others) as published by Coherent Market Insights
Germany Nutritional Supplements Market-Drivers
Launching new products to expand their product offering
Germany is one of the major contributors to the European nutritional supplements market growth. Rising awareness among the population regarding ones inventive and higher disposable income in the region are expected to drive the market growth. Thus, companies in the Germany nutritional supplements market are focusing on launching new products, in order to expand their product offerings with new ingredients such as protein, vitamins, fatty acids, and others. These new ingredients are used by the companies for developing nutritional supplement products that provides health benefits. For instance, in May 2022, SternLife and SternVitamin, subsidiaries of Stern-Wywiol Gruppe, a Germany-based food ingredients enterprise, launched vegan protein bars, water-soluble powder supplements, and micronutrient premixes.
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https://www.coherentmarketinsights.com/market-insight/germany-nutritional-supplements-market-4935
Key Trends and Analysis of the Germany Nutritional Supplements Market:
- Personalization of beauty supplements involves providing specific supplements by considering different factors such as age, skin conditions including acne and eczema, and beauty goals of consumers. Players operating in the nutritional supplements market are adopting strategies to provide personalized supplements to their consumers.
- Collagen supplements help in strengthening skin, and improves skin hydration and elasticity. Collagen supplements help to slow down aging by reducing skin dryness and wrinkles. Increasing number of collagen containing supplements are introduced in the market to cater to rising demand for anti-aging products.
Germany Nutritional Supplements Market- - Opportunities
Development of innovative products
- Manufacturers operating in the nutritional supplements market are developing innovative products to gain competitive edge in the Germany nutritional supplements market. For instance, in November 2022, TargEDys a France-based commercial-stage biotechnology company, and SymbioPharm, a pioneer in microbiome research and knowledge-based probiotics, entered in a partnership to launch SymbioLife Satylia in Germany. SymbioLife Satylia is a weight supplement and precision probiotic with a characterized mechanism of action at molecular level.
Germany Nutritional Supplements Market- -Restraints
High cost of Nutritional Supplements
- Higher cost of nutritional supplements is projected to hamper the Germany nutritional supplements market growth. Nutritional supplements, that often contains multiple ingredients to support one or more health benefits, leads to high price of nutritional supplements.
- For instance, SugarBearHair vitamins by Kardashian cost US$ 32.96 on Amazon or around 55 cents per gummy, whereas the Flinstones multivitamin gummies cost 7 cents per gummy or US$ 12.99 on Amazon.
Key Takeaways
- On the basis of ingredient, vitamin segment dominated the Germany nutritional supplements market in 2022, with around 34.6% of market share, in terms of revenue, followed by others due to increasing awareness regarding benefits associated with vitamins in Germany.
Key Players
- Key players operating in the germany nutritional supplements market include Queisser Pharma GmbH & Company KG, Nutraceuticals Group, Dr. B. Scheffler Nachfolger GmbH & Co. KG, ZeinPharma Germany GmbH, Pamex Pharmaceuticals GmbH, Ayanda GmbH, Sabinsa Europe GmbH, Denk Pharma GmbH & Co. KG, and Pascoe Naturmedizin.
- These players are constantly engaged in product launches, in order to gain competitive advantage over other players. For instance, in March 2023, Oost NL a venture capital firm, and GO4EXPORT which supports entrepreneurs from Gelderland and Overijssel in taking the right steps abroad, launched The Germany Program 2023, for any company to successfully enter grow in the German plant-based protein market.
Germany Nutritional Supplements Market- Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 had positive impact on the Germany nutritional supplements market. Increasing health awareness among the millennial population has boosted demand for nutritional supplements. Also, increasing investments in R&D in the healthcare sector boosted the market growth. Moreover, increasing need for boosting immunity among the millennial population to fight against several virus variants is projected to drive the market growth.Vitamin C supplements boost immunity and have widely been prescribed by doctors during the COVID-19 pandemic as well.
