PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358001
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358001
Germany nutritional supplements market was valued at US$ 4.86 Billion in 2022, and is expected to exhibit a CAGR of 3.3%, over the forecast period (2023-2030) to reach US$ 6.28 Billion by 2030.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 4.86 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 3.30% | 2030 Value Projection: | US$ 6.28 Bn |
Increasing demand for nutraceutical ingredients is expected to drive the nutritional supplements market in Germany. Germany is one of the major contributors in the Europe nutritional supplements market growth. Rising awareness among the population regarding ones creativity and higher disposable income in the region are expected to drive the market growth. For instance, according to Organization for Economic Co-operation and Development (OECD), the average household net-adjusted disposable income per capita in Germany is US$ 34,297 per year. Online channels offers customers the opportunity to order anything at the customer's doorstep. Consumers have the option of comparing prices of different products on different websites, and can choose from the various available options. Therefore, these benefits is expected to make positive impact on market during the forecast period.
Increasing awareness about health benefits of nutritional supplements is expected to drive the market growth over the forecasted period. Nutritional supplements are used to treat nutritional deficiency in human body. Nutritional supplements consist of vitamins, minerals, proteins, and other necessary ingredients that increases aesthetics. Health benefits associated with consumption of nutritional supplements includes reduction in signs of aging and improving cardio & heart health. More women are focused on healthy skin, hair, nails, and others. Therefore, rising need to prevent premature skin aging and preference for effective and safe beauty solutions are driving the nutritional supplements market growth. In April 2019, Bobbi Brown collaborated with Walmart and launched Evolution_18, which comprises 10 different supplements such as beauty collagen, beauty superfood, beauty shot, beauty bubbles collagen, beauty gummy, beauty glow, beauty hydration, beauty debloat, beauty probiotics, and beauty grow.