The UK nutraceuticals market is anticipated to grow at a CAGR of 6.8% over the forecast period (2020-2026). The key factors that drive the growth of the market include the awareness related to health, high prevalence of chronic diseases, and easy availability of nutraceuticals. Besides the government regulations also impacts the growth of the UK nutraceuticals industry over the forecast period. In UK, food supplements including nutraceuticals are regulated under food law- Food Safety Act of 1990. Most of the food laws in the UK are similar to the EU and have been included in the country’s law.
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In the UK, (similar to the EU) beneficial claims related to the benefits of food supplements for marketing can be made by a company whether it is a specific health claim or a nutrition claim. Further, the consumption of dietary supplements by the people as additional nutrition also positively impacts the market growth. In September 2018, a survey was conducted by the Food Standard Agency on more than 2,000 UK consumers (16+ years). Out of this, 59% of the consumers were taking some kind of vitamin, mineral, or other supplement product at some point during 2018. The Department of Health and Social Care also recommends certain supplements such as vitamins A, C, and D to all children aged 6 months to 5 years which positively affects the market growth.
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Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product Type and Distribution Channel
- Region Covered- UK
- Competitive Landscape- Archer Daniels Midland Co., Cargill Inc., Nestle SA, Danone SA, Koninklijke DSM NV, The Hain Celestial Group, Inc., and Abbott Laboratories among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
UK Nutraceuticals Market – Segmentation
By Product Type
- Functional Food
- Functional Beverage
- Dietary Supplements
By Distribution Channel
- Retail & Supermarkets
- Online Platform
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
