Europe weight loss supplements market is projected to grow at a CAGR of 3.21% during the forecast period (2020-2025).
- The rising obesity level among the consumers of the region has led to an intensive demand for weight loss supplements among all the demographics.
- The sales of organic weight loss supplements, coupled with the strengthening of distribution channels, have offered accessibility and convenience to the European consumers. Moreover, the sales of vegan products in the region have also witnessed a significant increase in the last three years.
- The dietary supplement companies in Europe are introducing varied weight loss supplements manufactured from natural ingredients, such as green tea extracts, green coffee extracts, and caffeine. Moreover, the ingredients, such as synephrine, which are found in bitter oranges that stimulate weight loss is widely catering product innovations in the market studied.
Key Market Trends
Rising Obesity in the Region
In Europe, the rising purchasing power of the consumer has led to various lifestyle changes, such as unhealthy consumption patterns, leading to an increase in calorie intake, and reduced physical activities, therefore, leading to higher obese consumers in the region. However, the rising health awareness in recent times, among the consumers is compelling them to opt for a healthy lifestyle which includes more physical activities and consumption of healthy food. Conversely, many consumers in European countries are heavily influenced by dietary supplements due to their hectic lifestyle in order to maintain their bodies and to have a fit-look. In countries like the United Kingdom, Malta, and Germany, the obesity rate is rising among the youth causing several lifestyle diseases due to which the concerned population is focusing on supplements for weight loss to reduce the risk of such diseases. Consequently, the rising obesity level has increased the demand for weight loss supplements in the region.
United Kingdom is the Largest Market
In the United Kingdom, approximately 29% of adults were classified as obese in 2017 by WHO (World Health Organization), increasing from 26% in 2016; due to this, people in the country have increased the consumption of weight loss supplements. The consumers in the country have better access to knowledge about health and nutrition, due to active media telecast, lifestyle blogs, and social media. Moreover, companies are increasing investment in advertising and new product development, which, in turn, drives the sales of weight loss supplements in the country. Moreover, online retailing serves the market at an incredible rate for the consumers are highly inclined towards online channels for convenience and for the ability to access different brands which provides an impetus to the consumers to spend higher amounts and bulk purchases. Thus, widely catering to the United Kingdom weight loss supplements market.
The market is fragmented with many global players and regional players operating in the market. General Nutrition Centers Inc. and Glanbia are among the most active companies with significant share in the market studied. These companies have has invested considerably with a focus on product innovation and continuous expansion. For instance, in 2018, Glanbia PLC announced the acquisition of SlimFast, one of the prominent weight management and health and wellness brand family distributed primarily in the food, drug, mass, and club (FDMC) channel in the region. Moreover, other companies have also adopted product innovation, strategic acquisitions, and expansions as their key strategies to increase their geographical presence and customer base.
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Table of Contents
1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.2 By Distribution Channel
5.2.3 Specialty Stores
5.2.4 Online Retail Stores
5.3 By Geography
5.3.1 United Kingdom
5.3.7 Rest of Europe
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Amway GmbH
6.4.2 General Nutrition Centers, Inc.
6.4.3 Glanbia plc
6.4.5 Supplement Paradise Ltd.
6.4.6 Bulk Powders
6.4.7 Nutrex Research
6.4.8 SAN Corporation
A selection of companies mentioned in this report includes:
- Amway GmbH
- General Nutrition Centers, Inc.
- Glanbia plc
- Supplement Paradise Ltd.
- Bulk Powders
- Nutrex Research
- SAN Corporation