THE FOOD SUPPLEMENTS MARKET

THE FOOD SUPPLEMENTS MARKET

The food supplement sector is on the rise, not only in countries such as Spain, where a 6% growth is registered, but also in emerging areas such as Asia, South America and Africa, presenting a remarkable increase on its consumption. This rise is caused by better economic conditions of the population, the growth of key demographic groups and a better online offer, according to Transparency Market Research. It is also caused by better Regulations, increasing consumer’s trust, since they give greater emphasis to the health care and well-being.

What figures does that this decade leave? In Spain, the market is around 350 million euros, with 600 companies registered. The main global market is still United States, but it’s worth mentioning Asia as the first consumer of plant based and phytotherapy supplements and Russia and Eastern Europe presenting a 10% growth in vitamin and mineral supplements.

In Spain, the main categories of food supplements consumed are summed up in this graphic:

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Source: International Marketing Service 2015

Food supplements from vitamins and minerals are still the most consumed group, even though digestive and nervous system products are becoming more relevant.

In this new beginning decade, trends will characterize for using organic and ecological products and the presence of food supplements from algae and probiotics.

The concept of personalized nutrition will also arrive to this market or nutrigenetics, where depending on the genetic information of the consumer, a different kind of supplements will be recommended, in order to achieve a better health result.

It will also characterize for its technological improvements in the extracting system, which will lead to better phytochemistry profile or increase in drug bioavailability through microencapsulation, to mention some examples.

As a result of the positive perspectives that lie ahead, we can only wish a prosperous new decade.