The European nutraceuticals market is projected to grow at a rate of 5.9%, with France leading the market.
The region is the third largest market for nutraceuticals in the world, after North America and Asia- Pacific. The market has a demand for advanced nutraceutical products, which can provide visible benefits on consumption. The reason for the European market growth being restrained is its stringent regulatory approval procedures and high-cost of research and product development, which, in turn, increases the price of the products.
Algal-based omega-3 fatty acids and natural plant extracts are the new trend in the nutraceutical market; omega3 is one of the most consumed nutraceuticals, due to its association with many disease prevention and treatments, such as thrombosis, atherosclerosis, cancers, arthritis, etc. Many global players in functional food and beverages are now trying to invest in algal-based omega-3 fatty acids (EPA and DHA) production and supply in the European Market.
The European nutraceuticals market is competitive with many market giants, such as ADM, DuPont, Cargill, Inc., Royal DSM, and BASF SE. These large players are holding the majority of the nutraceuticals market share in Europe. These market giants are trying to increase their market through various market strategies, such as nutraceutical innovation, technological advancement, partnership, mergers, acquisition, market expansion and categories expansion.