by The global Germany nutritional supplements Market is estimated to be valued at US$ 4.86 Bn in 2022 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Germany nutritional supplements market includes products such as vitamins, minerals, proteins, and others that help support health and provide nutrients to the body. They come in different forms such as tablets, capsules, powders, gels, and liquids. There is increasing health consciousness among German consumers regarding the importance of maintaining good health through proper nutrition. Nutritional supplements help fulfill the nutrient gaps in regular diets and support various bodily functions. The growing geriatric population prone to deficiencies also presents an opportunity in the market.
Market Key Trends:
One of the key trends fueling growth in Germany nutritional supplements market is the rising popularity of herbal or plant-based supplements. Consumers are increasingly preferring supplements derived from natural sources over synthetic formulations due to perceived safety and efficacy benefits. Plant-based supplements are rich in antioxidants, vitamins and minerals and help support diverse health needs. Another major trend is the customized or personalized supplements targeted for specific individuals. Supplement companies are offering customized formulations tailored to an individual’s nutrient profiles, deficiencies, genetic makeup, lifestyle and medical conditions. This personalized approach is gaining popularity among health conscious consumers in Germany.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in the Germany Nutritional Supplements Market due to the presence of established players and regulations regarding product safety and quality.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of nutritional supplements from various manufacturers. Buyers can easily switch between brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers. However, manufacturers prefer long term relations with reliable suppliers.
Threat of new substitutes: The threat of substitutes is low as nutritional supplements have limited substitutes that can provide the similar nutritional value.
Competitive rivalry: The competitive rivalry is high due to the presence of many domestic and international brands offering a varied range of products.
Key Takeaways
The global Germany nutritional supplements market is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing health awareness among consumers. The market size for 2022 was US$ 4.86 Billion.
Regionally, Southern Germany dominates the nutritional supplements market with over 30% share owing to growing elderly population seeking nutritional supplements for healthy aging. Western and Northern Germany also show potential growth due to rising preventive healthcare spending.
Key players operating in the Germany nutritional supplements market are 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 manufacturers offer a wide assortment of supplements including vitamins, proteins, herbs, and minerals.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
