Dipl.-Kfm. Martin Franz
Partner
+49 (89) 809 53 63- 0
Curriculum vitae & references Quickcontact
ConAlliance is a leading advisory firm specializing in the sale and acquisition of companies within the food supplement, contract manufacturing, functional food, and nutraceutical sectors. Leveraging our extensive industry expertise and comprehensive understanding of regulatory, scientific, and operational complexities, we navigate our clients through the intricacies of M&A transactions in this rapidly evolving and high-growth market.
The global market for dietary supplements and functional foods is experiencing significant growth, driven by increasing health awareness and the shift towards preventative, health-oriented lifestyles. This sector is attracting interest from established food and pharmaceutical companies, as well as financial investors, drawn by its attractive margins, non-cyclical growth, and market fragmentation. This fragmentation, characterized by numerous small and medium-sized specialist providers, creates substantial opportunities for consolidation through strategic M&A transactions.
Strategic acquisitions in this industry not only facilitate market entry but also enable investors to realize synergies across production, distribution, and branding. Consolidation strategies can unlock untapped value by streamlining fragmented supply chains and enhancing competitive positioning.
Sellers benefit from heightened competition among buyers, often achieving premium valuations as a result of strong investor interest in the sector’s growth potential.
At ConAlliance, we bring unparalleled expertise to M&A transactions within the dietary supplement and functional food industry. We provide holistic advice that encompasses all value-driving factors, including brand, product composition, quality, production standards, supply chains, patents and legal considerations. Whether supporting sales mandates or acquisition projects, ConAlliance conducts thorough due diligence to identify risks and unlock the full potential of every transaction.
The regulatory landscape for dietary supplements and functional foods differs widely across regions. In the U.S., the FDA oversees dietary supplements, while the EFSA regulates these products in Europe. Although the approval processes are less stringent than for pharmaceuticals, companies must still comply with rigorous safety, quality control, and labeling standards. A thorough understanding of these regulatory frameworks is essential for successful M&A transactions. ConAlliance mitigates regulatory risks by guiding clients through this complexity with expert precision.
As a premier international M&A advisory firm ConAlliance has a proven track record in the nutritional supplement and functional food industry. Our approach combines deep market insights with an expansive global network, enabling clients to identify the most attractive buyers or acquisition targets. Through tailored strategies and precise execution, we consistently deliver superior results, empowering our clients to make transformative decisions with confidence.
ConAlliance – Expertise, Insight, and Tailored M&A Solutions for Your Success in a Growing Market. Please get in touch with us.
M&A Berater für Nahrungsergänzung (auch Nutraceutical - von nutrition = Ernährung und pharmaceutical = Pharmazeutikum) M&A Beratung: Zu den Branchen, in denen ConAlliance spezifische M&A-Erfahrung und spezielles Fachwissen vorweisen kann gehören die Labortechnik, Laborautomation, Medizinprodukte, Medizintechnik, Laborbedarf, Wundversorgung, OP-Bedarf. Ziehen Sie uns als Ihren M&A Berater in Erwägung, wenn Sie planen, ein Gesundheitsunternehmen zu kaufen oder verkaufen. Mit ConAlliance als Lead Advisor profitieren Sie von unserem weltweiten Netzwerk als erfahrener M&A-Beratung.
Vitamins & minerals | This category includes single vitamins (e.g. vitamin C, vitamin D) and multivitamin supplements. Minerals such as calcium, magnesium and zinc are also included. |
Herbal ingredients (phytotherapeutics) | Herbal supplements such as ginseng, gingko biloba, turmeric or extracts from medicinal plants to promote health and well-being. |
Proteins & amino acids | Supplements with proteins (e.g. whey, casein, vegetable proteins) and amino acids such as BCAAs, glutamine or creatine, which are mainly used in the sports nutrition sector. |
Fatty acids | These include omega-3 fatty acids from fish oil or plant sources, which are promoted for heart health and other functions. |
Probiotics & prebiotics | Products that contain beneficial bacteria (probiotics) or food components for bacteria (prebiotics) to promote intestinal health. |
Antioxidants | Supplements designed to neutralize free radicals, including ingredients such as coenzyme Q10, resveratrol or polyphenols. |
Enzymes | Digestive enzymes (e.g. bromelain, papain) to support digestion and other physiological processes. |
Immune strengthening | Products designed to strengthen the immune system, including vitamin C, zinc, echinacea or probiotics. |
Sports nutrition | Dietary supplements for performance enhancement, muscle building, regeneration and fat burning. Typical products include protein powder, amino acids and creatine. |
Weight management | Fat burners, appetite suppressants or other supplements designed to stimulate the metabolism or help control weight. |
Cognitive health | Supplements designed to improve mental performance, concentration and memory function (e.g. ginkgo biloba, omega-3, caffeine). |
Joint health | Products to support the joints and bones, such as glucosamine, chondroitin or MSM. |
Sleep and relaxation | Supplements such as melatonin, valerian or magnesium to improve sleep and reduce stress. |
Cardiovascular health | Omega-3, coenzyme Q10, garlic extracts or red rice yeast, which are said to promote heart health. |
Anti-aging and beauty | Products such as collagen, hyaluronic acid or antioxidants, which are intended to support skin health and slow down the ageing process. |
Tablets/capsules | The most common form of food supplements, as they are easy to dose and store. |
Powder | Often used in sports nutrition and proteins, as they can contain larger amounts of active ingredients. |
Liquids | Food supplements in liquid form, e.g. vitamin drops, juices or shots, are often bioavailable more quickly. |
Effervescent tablets | Products that are dissolved in water to ensure a pleasant intake. |
Gummy bears/soft gels | An increasingly popular dosage form, especially for children and older people who have difficulty swallowing capsules. |
Sprays | Vitamin and mineral sprays that enable rapid absorption via the mucous membranes. |
Athletes and fitness enthusiasts | Products such as proteins, amino acids, creatine, energizers and regeneration aids. |
Seniors | Products to support bone health, joint health and cognitive function, often enriched with calcium, vitamin D or omega-3. |
Women | Specific products to support skin, hair and nails, but also for pregnancy and hormone balance. |
Children | Child-friendly food supplements that promote child development, often in gummy bear or liquid form. |
People with special health needs | These include food supplements for diabetics, vegans, people with gluten intolerance or lactose intolerance. |
The market for dietary supplements and functional food can be segmented by company at various levels. Here are the common segmentations by brand, manufacturer, distribution channel and company size:
These companies dominate the global market, are highly diversified and often have extensive product portfolios that cover a wide range of nutritional supplements. Their brands are usually internationally recognized and stand for high quality standards and a strong market presence.
Nestlé Health Science: Leading global player in functional foods and nutraceuticals. Nestlé has massively expanded its presence in this segment through acquisitions (e.g. Garden of Life, Pure Encapsulations).
Pfizer (Centrum): One of the best-known brands in the multivitamins segment. Pfizer has a strong global presence and offers products for all age groups and specific health needs.
Bayer (One A Day): Another pharmaceutical company that has a strong position in the multivitamin space. The "One A Day" brand is particularly well established in North America.
Amway (Nutrilite): Amway is one of the largest direct selling companies in the world and distributes Nutrilite, one of the best-selling nutritional supplement brands.
Herbalife: Another direct selling giant with a focus on weight management, sports nutrition and general health.
These companies focus on certain niches within the food supplement market and offer highly specialized products. They are often innovation leaders in their respective fields.
Thorne Research: A premium provider of medical supplements and personalized health products. Strong focus on science-based formulations.
NOW Foods: One of the leading manufacturers of natural food supplements. NOW Foods offers a wide range of products, especially in the area of herbal products and natural vitamins.
Jarrow Formulas: Known for its scientifically developed and clinically tested nutritional supplements. Strong focus on probiotics and antioxidants.
Solgar: A traditional manufacturer of dietary supplements known for its high quality standards and wide range of products. Solgar products are available in many pharmacies and specialty stores.
Life Extension: Innovative in the field of anti-ageing and scientifically advanced formulations. The company offers a variety of supplements for long-term health and longevity.
These companies focus on the distribution of dietary supplements and often also on private labels, which are offered through various channels, including retail, pharmacies, online sales and direct sales.
Amazon (own brands: Solimo, Revly): Amazon has positioned itself as a major player in the dietary supplement market by distributing major brands as well as offering its own dietary supplement products under the "Solimo" and "Revly" brands.
GNC (General Nutrition Centers): GNC operates thousands of retail stores worldwide and offers both well-known branded products and private labels. The focus is strongly on sports nutrition and health products.
The Vitamin Shoppe: Similar to GNC, The Vitamin Shoppe is a major retailer with an extensive portfolio of nutritional supplements. They sell major brands as well as private label brands such as "Vthrive" and "BodyTech".
Walgreens & CVS: These large pharmacy chains offer private label products alongside well-known brands. They are important distribution channels for multivitamins, probiotics and herbal supplements.
iHerb: A leading global e-commerce platform that sells a wide range of dietary supplements, often with a focus on niche brands and international distribution.
These companies produce food supplements on behalf of brands or retailers. They often do not have their own brand, but are crucial for the production and development of supplements, especially for private labels.
Lonza: A leading provider of contract manufacturing solutions for pharmaceutical and dietary supplement companies. Lonza manufactures capsules, tablets and other dosage forms.
Capsugel (part of Lonza): Specializes in the production of capsules and gel capsules for dietary supplements.
DSM Nutritional Products: A global player in the field of vitamins, carotenoids and food supplements. DSM supplies raw materials and also offers contract manufacturing for brands.
Sirio Pharma: A major Chinese contract manufacturer that produces nutritional supplements for international customers, particularly in capsule and tablet form.
Catalent: An international provider of development and manufacturing services for dietary supplements and pharmaceutical products.
Multinationals: These large companies dominate the market and operate globally. They use their economies of scale to offer a wide range of nutritional supplements, often through acquisitions and licensing. Examples: Nestlé Health Science, Pfizer, Bayer.
Medium-sized companies: Companies of this size often focus on specialized niche markets or regions and have strong brands with high reputations in specific categories. Examples: Jarrow Formulas, Solgar, Thorne Research.
Start-ups and niche providers: Smaller companies, often strongly driven by innovation, that focus on novel ingredients or special formulations, e.g. in the area of personalized supplements or "clean label" products. Examples: Care/of, Persona Nutrition.