3 million UK consumers have stopped taking food supplements since 2008, according to research by Mintel.
Thefirm said that cost-conscious consumers had switched to healthier diets and functional foods, ditching products such as Echinacea, which saw an 18% sales dip.
Mintel estimates the food supplements market – one of the largest in Europe – to be worth €480m in 2012. Sales of multivitamins reportedly remain solid but the sector will face unprecedented challenges in the years ahead: “People are more aware of healthy eating; they are buying more functional foods – there are more functional foods on the market for them to buy into and all of this is doing away with the perceived need to buy food supplements,” Alexandra Richmond, Mintel’s head of beauty and personal care told the author.
Richmond added that the trend is being compounded by the UK's economic situation.
However, the firm said that it expects the sector to deliver annual growth of 5-9% and revenues of between €524m and €567m by 2017. Multivitamins account for around 43% of the market with omega-3 supplements making up just over 10% of sales.
A recent Mintel reported highlighted strong growth in functional spreads, milk, bottled water, juice and prepared meals. However, functional yoghurt sales were flat.
The UK functional food market is worth €980m, Mintel said.
