Cocoa and Chocolate Market to Hit a CAGR of 4.98% by 2022-2029

The cocoa and chocolate market size reached USD 46.61 billion in 2021. The market value is anticipated to increase from USD 48.29 billion in 2022 to USD 67.88 billion by 2029 at a CAGR of 4.98% during the forecast duration. The market is exhibiting progressive growth due to the global chocolate confectionery industry's robust growth trajectory. The share of global grindings has increased significantly, which has increased the overall consumption of cocoa-based ingredients, says Fortune Business Insights^TM in its report titled, “Cocoa and Chocolate Market, 2022-2029”.

COVID-19 Impact-

COVID-19 Lockdown Affects the Supply Chains of Cocoa and the Hospitality Industry

The COVID-19 pandemic has significantly impacted the food and beverage processing industry. The socioeconomic situation had a negative impact on specific product consumption patterns. The restrictions imposed by COVID-19 resulted in losses for farmers growing cocoa in small but important cocoa-producing countries, as production outstripped demand in the early months of the pandemic's onset.

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List of Key Market Players:

• Barry Callebaut, AG (Switzerland)
• Cargill, Inc. (U.S.)
• Olam International (Singapore)
• Fuji Oil Company Ltd. (Japan)
• ECOM Agroindustrial Corporation Ltd. (Switzerland)
• Cocoa Processing Co. Ltd. (Ghana)
• Touton S.A. (France)
• Niche Cocoa Industry Ltd. (Ghana)
• BD Associates Ghana Ltd. (Ghana)
• PLOT Enterprise Ghana Limited (Ghana)

Report Coverage-

The research report provides a comprehensive analysis of the chocolate industry, focusing on key aspects such as leading companies, product types, and application industries for the product.

Segments-

By Type, Chocolate Segment Holds Major Share during the Forecast Period

On the basis of type, the market for cocoa and chocolate is bifurcated into cocoa ingredients and chocolate. The market is further segmented into cocoa butter, cocoa liquor, and cocoa powder based on cocoa ingredients.

The increasing popularity of chocolate confectioneries has largely contributed to the chocolate segment's improved sales performance. With the growing trend of premium chocolates, filled chocolate has a larger market share than other chocolate types.

By Application, Food & Beverage Sector Exhibits Promising Growth during the Forecast Period

On the basis of application, the market is sub-categorized into food & beverage, cosmetics, pharmaceuticals, and others. Food & beverage is further divided into confectionery, dairy, bakery, and others.

The food and beverage industry is expanding globally, creating numerous opportunities for the cocoa and chocolate industries. Chocolate has remained a popular flavor in new beverage, bakery, and confectionery product launches. It has also remained a popular ingredient in the sweets and beverages industries.

Geographically, the market is classified into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

Drivers & Restraints-

Increasing Demand for Chocolate Confectioneries to Fuel Market Growth

The growing popularity of chocolate confectionery is driving the global market for cocoa and chocolate. In recent years, demand for chocolate confectioneries in emerging economies has shown a positive trend, owing to rising consumer expenditure on indulgent confectionery products, particularly chocolate confectioneries. However, due to the ease of availability and low cost of the products mentioned above, the increased demand for cocoa ingredient replacements and cocoa ingredient equivalents, such as soybean oil, palm oil, rapeseed oil, shea butter, and others, may negatively impact the cocoa and chocolate market growth.

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Regional Insights-

Europe to Lead the Global Market Share

Europe dominated the global market, with USD 19.95 billion in 2021. Many of the world's major industrial chocolate producers are based in Belgium, the Netherlands, Germany, and Switzerland, making Europe a hub for industrial chocolate production.

The cocoa and chocolate market share in North America is expected to grow significantly, as it is a major importer of cocoa to meet domestic confectionery manufacturing sectors.

As the need for chocolate confectioneries in emerging economies, such as India and China, has increased, the Asia Pacific market is rapidly expanding. The increase is attributed to rising consumer spending on decadent chocolate confectionery.

The Middle East and Africa is expected to grow the fastest due to a preference for convenience, value, and luxury in chocolate offerings, which has increased the use of cocoa butter in the Middle East.

Competitive Landscape-

Market Growth will be fueled by base Expansion and the Development of Premium Products

The major market players are actively considering new product launches and base expansion. These manufacturers are working hard to broaden their consumer outreach to strengthen their market presence.

Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
  • Emerging Trends
• Key Insights
  • Overview of the Parent/Related Market
  • Supply Chain and Regulatory Analysis
  • Recent Industry Developments - Policies, Partnerships, New Source Launches, and Mergers & Acquisitions
  • Cocoa Price & Trade Analysis
  • Qualitative Analysis (In relation to COVID-19)
    • Impact of COVID-19
    • Supply Chain Challenges
    • Potential Opportunities due to COVID-19

TOC Continued…!

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Key Industry Development-

August 2021: Cargill announced the acquisition of Aalst, a major Asian chocolate supplier. Cargill is expanding its Asia Pacific cocoa and chocolate offerings to better serve its industrial and foodservice customers.

Wine Market to Hit a CAGR of 4.30% by 2021-2028

The global wine market size was USD 339.53 billion in 2020. The market is projected to grow from USD 340.23 billion in 2021 to USD 456.76 billion in 2028 at a CAGR of 4.30% in the 2021-2028 period.

This information is provided by Fortune Business Insights, in its report, titled, “Wine Market, 2021-2028.”

According to our researchers, the industry is inducing rustic landscapes for consumers across the world and attaining huge admiration in the global marketplace, owing to its taste and uplifting properties. The beverage has become a significant commodity and is also obtaining approval in the overseas market, owing to the eased trade duties and tariff obstructions in marketing.

COVID-19 Impacts:

Supply Chain Disturbances amid COVID-19 to Adversely Affect Market Presentation

The COVID-19 pandemic has brought about a notable alteration in global markets, principally in this market. The product distribution channels across the globe were interrupted, owing to wide-ranging terminations of numerous amenities and limitations in public mobility.

The demand and ingestion of the drink has been detained in the majority of the markets globally. The greatest influence had been in the course the customers bought the product, as users progressively moved towards buying the drink online, owing to the steady conclusion of on-trade channels.

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List of Key Players Mentioned in the Report:

• The Wine Group (U.S.)
• John Distilleries (India)
• International Beverage Holdings (Thailand)
• Distell Group Limited (South Africa)
• Halewood Wines International (U.K.)
• Sula Vineyards Pvt. Ltd. (India)
• Accolade Wines, Plc. (U.S.)
• E & J Gallo Winery (U.S.)
• Global Drinks Finland (Finland)
• Treasury Wine estates (Australia)
• Torres Wines (Spain)

Report Coverage:

We offer our reports which are steered with an all-inclusive evaluation approach that primarily emphasizes on bringing comprehensive material. Our scholars have applied a data triangulation method, which further helps us to provide reliant calculations and inspect the general market conditions specifically. Additionally, our analysts have gained admission to several global as well as locally sponsored records for offering the upgraded material in order for the guarantors and business specialists to capitalize only in essential zones.

Segmentation:

By type, the market is divided into,

• Sparkling
• Still
• Others

Still wine is the oldest and the most renowned form of wine present across the world. It held the highest share under type.

Based on Flavor, the global market is segregated into,

• Red
• White
• Rose

In terms of Distribution Channel, the market is classified into,

• On-trade
• Off-trade

Geographically, the market is categorized into,

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

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Drivers and Restraints:

Rising Alcohol Socialization among Consumers to Assist Market Growth

Wine production and consumption have observed rapid development in the last few years, which has led to an augmented consumption pattern. These days, social activities, modernization, and surging acceptance of western culture are few of the aspects promoting alcohol socialization among users. The consumption of this drink is transforming into a signal of social prestige, which in turn is backing the growth of low alcoholic beverages in the market. This is estimated to foster the wine market growth.

Regional Insights:

Europe is anticipated to hold the biggest wine market share, as it offers one of the most enticing product assortments, represented by being the largest consumer across the world and was valued at USD 204.94 billion in 2020.

North America is the second largest market for the product. The region has an enormous latent for growth, owing to the rising fondness of millennials towards premiumization trends.

Asia Pacific is estimated to hold a substantial market share in the global marketplace. This is owing to the growing implementation of modernized trends and the ingestion of numerous local cuisines among consumers.

Competitive Landscape:

Corporations Engage into Partnerships and Sign Contracts to Spur their Market Position

The vital players of the market are known to implement important tactics in order to uphold their domination over the market worldwide. The players along with their expert consultants apply stratagems such as inaugurating products, signing strategic bonds, initiating mergers and many such factors to plunge market growth and widen their growth prospect throughout the market.

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Industry Developments:

January 2021: E. & J. Gallo Winery Group, declared the procurement of over 30 wine brands from Constellation Brands, Inc., which is an American maker and vendor of wines. The company procured these brands to extend its functional existence with the addition of five vineyards situated in California, New York, as well as in Washington.

Potato Starch Market To Hit CAGR of 3.9% by 2020-2027

The global potato starch market size is projected to reach USD 672.68 million by 2027, exhibiting a CAGR of 3.9% during the forecast period. Development of clean-label starch products by food companies is expected to prove beneficial for this market, shares Fortune Business Insights™ in its report, titled “Potato Starch Market Size, Share & COVID-19 Impact Analysis, By Nature (Organic & Conventional) End-use (Textile & Paper, Food & Beverages, and Pharmaceuticals), Type (Native and Modified), and Regional Forecast, 2020-2027”. Clean-label food products are those that are free of any chemical modifications or alterations and are made from natural ingredients. Starch is a carbohydrate that is generally synthesized chemically, but consumers are now demanding clean-label, or naturally-derived, starches and other ingredients that are used in foods and drinks. As a result, many companies are now developing innovative starch concoctions made from organic sources. For instance, Tate & Lyle developed the CLARIA^® Functional Clean-Label Starches, its new product line of non-Genetically Modified Organism (GMO) starch offerings, designed to meet several preparation requirements in the food industry. Cargill, too, came up with its SimPure line of native starches developed specifically for convenience foods.

The COVID-19 pandemic has created unparalleled turmoil, uncertainty, anxiety, and apprehensions in the global economy. Governments are pulling all stops to wade their countries out of this crisis, while the private sector is exploring alternatives to survive these hard times. At Fortune Business Insights™, we are taking constant efforts to provide you with comprehensive market intelligence and aid your business to emerge successfully from this crisis. We are offering precise market reports based on our expertise and experience in the field of market research.

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The report states that the global market value in 2019 stood at USD 500.07 million and provides the following information:

• Intelligent insights into the long-term and short-term impact of COVID-19 on this market;
• Actionable research into the market trends, drivers, and constraints;
• Detailed analysis of the key market segments; and
• Careful examination of the regional and competitive dynamics shaping the market growth.

 

Market Driver

Digestive Benefits of Potato Starch to Stoke Adoption

A leading factor fueling this market growth is the numerous benefits that resistant starch derived from potatoes has on the body’s digestive system. According to the National Institutes of Health (NIH), resistance starch helps in strengthening the colon by reducing inflammation in the area and potentially lowering the risk of colorectal cancer. In bolstering the colon’s functionality, this type of starch can prevent the development of chronic bowel disorders such as Crohn’s disease and ulcerative colitis. The NIH also highlights the advantages that resistant starch offers for metabolism. For instance, regular consumption of this starch type through meals can improve insulin sensitivity, which in turn can lower blood sugar levels and reduce the risk of diseases such as type 2 diabetes, heart disease, obesity, and even Alzheimer’s. Increasing awareness about the vast benefits of potato starch and other naturally derived ingredients is expected to augur well for the market in the coming years.

 

Regional Insights

High Demand for Plant-based Food Items to Support Market Growth in Europe

Europe is anticipated to have a commanding hold on the potato starch market share during the forecast period on account of high demand and consumption of plant-based, naturally made food items in the region. In addition to this, food & beverage companies in the region are increasingly developing health snacks by infusing them with potato starch, which is favoring the market growth in the continent.

The market size in North America stood at USD 178.75 million in 2019 and is expected to expand at a steady pace owing to surging demand for organic foods and drinks in the region. In Asia Pacific, rapid urbanization is boosting the demand for ready-to-eat organic foods, which is creating promising prospects for the players in this market.

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Competitive Landscape

Key Players to Engage in Collaborative Efforts to Promote Plant-based Nutrition

With the widening ambit of plant-based foods and drinks, key players in this market are taking concrete steps to innovate and augment the potential of naturally-derived starches, including potato starch. To that end, many companies are joining large-scale initiatives to promote plant-based nutrition products. On the other hand, a few other companies are making tactical acquisitions to expand their global presence.

 

Industry Developments:

• December 2019: Roquette became part of the ‘Beyond Starch’ campaign launched by Starch Europe, the European association of starch industries. The purpose behind this campaign is to spread awareness about the use of starch in the food industry through a series of events organized by its 27 member companies.
  
  
• March 2019: Ingredion Incorporated announced the acquisition of the operations of Western Polymer, a US-based producer of native and modified potato starches for food and industrial applications. This move will allow Ingredion to strengthen its production, augment processing capacities, and broaden its portfolio of specialty ingredients.
  
  

List of the Leading Companies Profiled in the Global Potato Starch Market Report:

• Lodaat Pharma – Illinois, U.S.
• AGRANA Beteiligungs-AG – Vienna, Austria
• KMC a.m.b.a. – Brande, Denmark
• Roquette – Lestrem, France
• Cargill, Inc. – Minnesota, U.S.
• Tereos - Moussy le Vieux, France
• Coöperatie Koninklijke Cosun U.A. – Dinteloord, Netherlands
• Ingredion, Inc. – Illinois, U.S.
• PEPEES Group – Lomza, Poland
• Emsland Group – Lowe Saxony, Germany

 
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Protein Bar Market to Hit a CAGR of 6.1% by 2022-2029

The global protein bar market size stood at USD 4.54 billion in 2021. The market is anticipated to grow from USD 4.68 billion in 2022 to USD 7.07 billion by 2029 at 6.1% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Protein Bar Market, 2022-2029.”

According to the analysis, a palpable trend for ready-to-eat (RTE) protein sources among the millennial and gen Z population will encourage leading companies to invest in the landscape. Stakeholders expect meal-replacement bars and sports nutritional bars to gain considerable traction. Moreover, online channels and convenience stores could further their investments in nutritional bars.

COVID-19 Impact

Shutdown of Fitness Centers and Health Clubs Dented Growth Prospect

The pervasive COVID-19 pandemic did not bode well for the nutrition bar suppliers and manufacturers. Sports tournaments were predominantly postponed or canceled, sending shockwaves in the global market. The prevailing trends led to the shutdown of fitness centers and health clubs across emerging and advanced economies. Meanwhile, the resumption of sports tournaments and reopening of fitness centers following the dip in COVID-19 cases and robust vaccination campaigns augured well for the business outlook.

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Major Players Profiled in the Report:

• General Mills Inc. (U.S.)
• The Simply Good Foods Company (U.S.)
• The Kellogg Company (U.S.)
• Clif Bar & Company (U.S.)
• Glanbia Plc. (Ireland)
• GNC Holdings Inc. (U.S.)
• Mars, Incorporated (U.S.)
• Mondelez International (U.S.)
• POST HOLDINGS INC. (U.S.)
• Amway Corp. (U.S.)
• The Bountiful Company (U.S.)

Report Coverage

The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.

Segments

Plant-based Protein Bars to Remain Dominant with Rising Vegan Population

In terms of source, the market is segmented into animal-based and plant-based. Plant-based protein bars will grow during the forecast period, largely due to the soaring number of vegan population. Moreover, strong demand for natural ingredients, such as seeds, nut butter, and fruit, will encourage leading companies to invest in the portfolio.

Sports Nutrition Bars to Gain Traction Due to Soaring Popularity among Sportsperson

On the basis of type, the market is segregated into meal replacement bars, sports nutrition bars, and others. Sports nutrition bars will contribute notably to the global market in the wake of soaring popularity among sportspeople.

Online Channels to be Sought-after with Soaring Demand from E-Commerce Stores

With respect to the distribution channel, the market is classified into specialty stores, mass merchandisers, online channels, convenience stores, and others. The online channels segment will expand at a dominant share in the light of expanding penetration of e-commerce stores.

Drivers and Restraints

Trend for On-the-go Breakfast to Bolster Growth Potentials

The prevalence of sedentary and hectic lifestyles is expected to foster protein bar market share. Nutrition bars have become highly sought-after in the wake of the soaring demand for convenience food. Moreover, the growing fitness culture among millennials and gen Z populations will prompt companies to inject funds into protein bars. To illustrate, in September 2020, Maxim Nutrition rolled out the Maxim Apple cinnamon energy bar to offer sports enthusiasts a solid foundation for good performance and high-quality nutrients. Major companies could invest in innovative flavors to cash in on prevailing opportunities in the global market.

However, high sugar content and availability of alternative products could impede the industry growth.

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Regional Insights

North America to Provide Lucrative Opportunities with Soaring Number of Fitness Enthusiasts

The U.S. and Canada are poised to offer promising growth opportunities in the wake of an increasing number of gyms, fitness enthusiasts, health clubs, and fitness training centers. The North America market size stood at USD 2.61 billion in 2021 and will witness a similar trend due to heightened awareness of protein-enriched bars and consumption of snacks. The healthy snacking trend has augured well for the regional growth as consumers seek non-GMO products with no preservatives, colors, and artificial flavors.

Europe protein bar market growth will be noticeable on the back of the trend for vegan products. The outlook is attributed to a surge in the vegan population across Spain, the U.K., Italy, and Germany. Plant-based protein bars have become the go-to product across the region. Furthermore, an upsurge in working-class population will trigger the product demand.

Stakeholders expect Asia Pacific to emerge as a lucrative destination due to growing awareness about protein intake. For instance, the General Office of the State Council’s Outline for China’s Food and Nutrition Development (2014-2020) recommends that Chinese people intake 78g of daily protein per person. Besides, the trend for plant-based protein bars will also expedite investments in the landscape.

Competitive Landscape

Major Players Invest in Product Portfolio Expansion to Boost Footprint

Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, major companies could invest in innovations and product offerings in the ensuing period.

TOC Continued…!

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Key Industry Development

• September 2021 - Sun Pharma Consumer Healthcare forged an entry into India’s nutrition bar segment with the launch of Revital NXT.

Apple Cider Vinegar Market Size, Share, Segmentation, Revenue and Forecast by 2028

The global food and beverages sector has been solid amid the COVID-19 pandemic backed by the high demand for food items that were added to the list of essential items. In addition, the increasing demand for functional foods during the lockdown period stoked by people’s intention of improving their immunity has given a significant boost to the growth of the market during the pandemic period. Similarly, the apple cider vinegar market has experienced high demand during the initial phase of the COVID-19 era due to high demand for the product, which was stoked by its immunity-boosting properties.

The global apple cider vinegar market size is projected to reach USD 789.37 million by 2028, exhibiting a CAGR of 4.5% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “Apple Cider Vinegar Market Size, Share & COVID-19 Impact Analysis, By Source (Organic and Conventional), By Form (Liquid and Tablet),By Distribution Channel (Hypermarkets/Supermarkets, Online Channels, Traditional Grocery Stores, and Others) and Regional Forecast, 2021-2028”. As per the report, the value of the market stood at USD 561.57 million in 2020. Various enterprises operating in the food and beverages space are leveraging the health benefits of ACV to attain a new customer base. They are using vinegar as a key ingredient for developing their products. For instance, Be Gud beverages, a health and wellness company based in Florida, two new flavor-infused shots of ACV.

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List of the Leading Companies Profiled in the Global Apple Cider Vinegar Market are:

• Barnes Naturals Pty Ltd (Maryborough, Australia)
• Carl Kuhne KG (Hamburg, Germany)
• Molson Coors Beverage Company (Chicago, U.S.)
• Global Export Marketing Co. Ltd (American Garden) (New York, U.S.)
• Swander Pace Capital (Bragg) (San Francisco, U.S.)
• Manzana Products Co. Inc. (Sebastopol, U.S.)
• NOW Health Group Inc. (Bloomingdale, U.S.)
• Mizkan America, Inc. (Mount Prospect, U.S.)
• Stonewall Kitchen (York, U.S.)
• Lost Coast Food Co. Ltd. (London, UK)

 What Does the Research Report Offer?

The report comprises a detailed analysis of the various drivers and restraints affecting the demand and supply of the market. In addition to this, it includes insights into the various segments and their current holdings in the market. Apart from this, the report also provides regional analysis based on our research on key geographic locations along with details on the strategies adopted by the key market players.

Driving factor

Increasing Adoption of Superfoods to Drive Growth

Growing health awareness among consumers is driving them to add more functional foods or superfoods to their diet. For instance, according to a survey report published by Datassential in 2019, over 56% of adults have shown an inclination toward superfoods for good health. This rapidly surging trend is driving the global apple cider vinegar market growth. In addition, various enterprises are developing innovative food products using the substance as the key ingredient. For instance, in June 2020, Good Glow, a wellness products company, introduced its new AVC wellness shot diluted and made from wholly organic ingredients. The increasing adoption of such products will further boost the demand.

However, prolonged consumption of AVC could lead to health issues such as tooth decay and acidity. For instance, Dr. Robert H. Shmerling, an associate professor of Harvard medicine, has suggested that excessive consumption of the product could lead to hypokalemia. Such factors are predicted to hinder market growth.

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Key Market Segmentation

We have categorized the market on the basis of source, form, distribution channel, and geography. In terms of source, the market is divided into conventional and organic. Based on form, it is fragmented into liquid and tablet. On the basis of distribution channel, the market is bifurcated into hypermarkets/supermarkets, online channels, traditional grocery stores, and others. Lastly, based on the region, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.

Regional Insights

High Production in the U.S. to Help North America Dominate the Market

The total value of the market in North America stood at USD 277.9 million in 2020. The region is projected to hold the leading apple cider vinegar market share during the forecast period due to high production in the U.S. In addition, new product launches from several manufacturers for the U.S. market are projected to accelerate the demand for AVC in the region. For instance, in February 2021, Garden of Life, one of the leading producers of organic products, collaborated with the actress Alicia Silverstone for the launch of mykind, a new range of apple cider vinegar gummies.

The market in Asia Pacific is estimated to showcase positive growth during the projected timeline. The arrival of new players in the market has given a boost to the market expansion in the region. For instance, Goli Nutrition has opened a new trend in the Indian market space by offering ACV-based gummies in the country.

Competitive Landscape

Prominent Players Experimenting with Product Form to Enter New Markets

Prominent enterprises operating in this market are focusing on experimenting with the form of consumption of their product. They are seeking innovative ways to find easier ways of consuming their products. For instance, in 2020, Man Matters, a health and wellness company, introduced ACV gummies in the Indian market. These gummies are aimed to help consumers manage their weight 

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Key Industry Developments:

December 2019: Mizkan America, Inc. introduced OSU, a new apple cider vinegar using the Japanese expertise of fermentation. The product was launched in the UK market.

May 2019 – Lost Coast Food Co. Ltd, one of the leading beverage manufacturers in the UK, introduced three new flavors of sparkling apple cider vinegar for potential customers in the country.

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Europe Dietary Supplements Market to Hit a CAGR of 9.3% by 2020-2027

According to Fortune Business Insights™, the Europe dietary supplements market size is projected to reach USD 33.80 billion by 2027, exhibiting a CAGR of 9.3% during the forecast period. The rapid spread of the coronavirus across Europe has brought to the fore the importance of dietary supplements in recent months. Dietary supplements consisting of specific vitamins, proteins, and other micronutrients have been proven to be effective in strengthening the immune system’s response to COVID infection.

A study conducted by researchers from the University Medical Center in the Netherlands, the University of Otago in New Zealand, the University of Southampton in the UK, and the Oregon State University in the US found that vitamins C & D, and DHA, an Omega-3 fatty acid found in fish, can significantly boost immune function. A strong immune system is critical in fighting the COVID-19 infection and as the pandemic continues its rampage across Europe, the demand for dietary supplements is set to spike in the region.

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Market Driver

Changing Demographics in Europe to Feed Market Growth

Europe, according to the UN’s Population Division, was the first region to enter the period of demographic transition, characterized by lower fertility and improved longevity. The UN states that in 2017, nearly 20% of Europe’s population was aged 60 and above and by 2050, this is expected to reach 35%. This presents attractive opportunities for players in the dietary supplements market of Europe as older people need to consume supplementary food items to maintain their health and energy.

For example, the National Institute of Aging in the US recommends sufficient intake of calcium for people over the age of 50 for maintaining bone density as bone loss can lead to fractures in older persons. Similarly, physicians commonly recommend old people to increase intake of vitamin B6, which is present in bananas, potatoes, fortified cereals, and chicken breast, as it is necessary to form red blood cells. Thus, the Europe dietary supplements market growth is anticipated to gain impetus as the continent’s geriatric population rises.

Regional Insights

Improving Adoption Rate of Food Supplements to Surge the Regional Market

Rising awareness about the multiple benefits of dietary supplements is improving the adoption rate of these products across Europe. To a large extent, this is attributable to the changing perception of food supplement products among consumers in countries such as Belgium, Austria, Denmark, and Greece. The demand for specialized supplements is also growing in the continent, and companies in the region are extensively utilizing e-commerce platforms to broaden their reach regionally as well as internationally.

Among countries, Italy is expected to dominate the Europe dietary supplements market share during the forecast period on account of supportive policy framework for herbal food supplements in the country. In 2019, the region’s market size was at USD 2.99 billion. On the other hand, the UK is anticipated to display a remarkable CAGR of 9.69% in the forthcoming years.

Competitive Landscape

Research-based Collaborations to Emerge as Hallmark Feature of Competition

Leading players in the Europe dietary supplements market are actively collaborating with diverse organizations, institutions, and companies to enhance their research capacities. This is allowing them to widen their offerings and develop products for specific consumers. Additionally, companies are leveraging digital platforms to boost sales and strengthen distribution networks.

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List of Key Players Covered in the Europe Dietary Supplements Market Report:

• Suntory Holdings Ltd. (Tokyo, Japan)
• Danone S.A. (Paris, France)
• Herbalife Nutrition Ltd. (California, United States)
• GlaxoSmithKline plc (Brentford, United Kingdom)
• Amway Corp (Michigan, United States)
• Pfizer Inc. (New York, United States)
• Nestle S.A. (Vevey, Switzerland)
• Glanbia Nutritionals (Chicago, United States)
• Archer Daniels Midland Company (Chicago, United States)
• Abbott Laboratories (Chicago, United States)

Key Industry Developments:

• February 2020: Nestle Health Science signed a long-term agreement with VALBIOTIS, a French health R&D company, to develop and commercialize TOTUM-63. Conceived to lower the risk of development of Type 2 Diabetes in pre-diabetic persons, the product features an innovative combination of five plant extracts.
• November 2019: Royal DSM completed its takeover of AVA, a US-based nutrition platform, strengthening its portfolio of health and wellness products and services. AVA is an AI-based digital health platform that provides adaptive nutrition recommendations and delivers live coaching to customers.

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As per the report, the market value stood at USD 14.95 billion in 2019. It also provides the following:

• Microscopic analysis of the various market segments;
• Tangible insights into the drivers and trends shaping the market’s growth trajectory;
• Detailed evaluation of the challenges facing the market; and
• Exhaustive study of the regional dynamics and competitive milieu of the market.

Moringa Products Market to Hit a CAGR of 9.63% by 2021-2028

The global moringa products market size amounted to USD 7.08 billion in 2020. The market value is slated to increase from USD 7.79 billion in 2021 to USD 14.80 billion in 2028 at a CAGR of 9.63% over the projected timeframe. Increasing public awareness toward the health benefits of drumsticks is a key factor driving the market growth. Rising demand for organic dietary supplements will also augment this growth, states Fortune Business Insights™ in its report titled “Moringa Products Market, 2021-2028”.

Moringa (Moringa oleifera), commonly known as drumstick, is a nutritionally abundant tree native to the Indian subcontinent. The drought-resistant tree can also be found in Southwest Asian countries and some African countries. Products derived from the tree such as leaves, tea, oil, leaf powder, and moringa seeds have numerous health benefits. These benefits make them suitable for a range of applications in food, feed, pharmaceutical, and cosmetics. Growing awareness toward these benefits will drive product consumption in future.

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List of Key Players Present in the Market

• Aayuritz Phytonutrients Pvt. Ltd. (Gujarat, India)
• Botanica Natural Products (Limpopo, South Africa)
• Organic India (Lucknow, India)
• Moringa Connect (Accra, Ghana)
• Earth Expo Company (Gujarat, India)
• Moringa Malawi (Blantyre Malawi)
• Saipro Biotech Private Ltd. (Maharashtra, India)
• Himalaya Global Holdings Ltd. (Karnataka, India)
• Ancient GreenFields Pvt. Ltd. (Tamil Nadu, India)
• Herbs & Crops Overseas (Ahmedabad, India)

COVID-19 Impact

Supply Chain Problems and Trade Restrictions Restricted Market Growth amid Pandemic

The COVID-19 pandemic slowed down the moringa products market growth slightly due to strict lockdown restrictions introduced to contain the coronavirus spread. These restrictions led to large-scale delays in transportation and logistics. In addition, temporary shutdown of factories and shortages in the workforce created major challenges for manufacturers.

However, the pandemic led to increased focus over health and wellbeing among consumers. Nutrition-rich foods and health supplements have experienced increased demand in several regions. These factors could help negate the impact of COVID-19 in the forthcoming years.

Report Coverage

The report offers:

• Major growth drivers, restraints, opportunities, and potential challenges for the market.
• Comprehensive insights into the global as well as regional developments.
• List of key industry players.
• Major strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.

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Drivers & Restraints

Rising Health Concerns and Demand for Supplements to Augment Market Growth

The market growth is aided by growing consumer awareness toward the health benefits of moringa products and drumsticks. With unprecedented access to social media, internet, and other sources, consumers are increasingly becoming aware about natural and organic products to capitalize on the rising product popularity. Brands are using moringa as an ingredient in cosmetics, pharmaceuticals, food products, and supplements.

Uptick in the demand for dietary supplements is creating tremendous opportunities for moringa suppliers worldwide. Consumers are increasingly seeking safe, clean-label, and better-for-you products made with naturally-sourced ingredients. Moringa-based supplements will experience robust demand over the next few years.

However, the product demand could be hampered by strict regulatory frameworks and lower market penetration in certain regions.

Regional Insights

Asia Pacific to Dominate owing to Abundant Availability of Moringa

Asia Pacific is slated to dominate the moringa products market share during the forecast period. In 2020, the region generated USD 2.70 billion in terms of annual revenue in the global market. High product consumption in Asia Pacific could be attributed to the abundant availability of moringa products. Growing awareness about the product benefits along with rising supplements demand will foster the regional expansion. 

Europe will exhibit stellar growth over 2021-2028 led by the growing consumption of nutritional supplements. Germany, Italy, the Netherlands, and the U.K. are some of the leading markets for supplements in Europe and will witness growing product consumption in future.

North America will be driven by the rapid rise in the adoption of foods and supplements with natural and organic ingredients.

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Key Industry Development

June 2021 – Vasu Healthcare Pvt. Ltd., an Ayurvedic and herbal products manufacturing company, launched a new range of herbal supplements called Vasu Safe Herbs. The product range consists of single herb vegetarian capsules such as holy basil, moringa, turmeric, and others.