Specialty Stores Segment to Dominate Europe Omega-3 Supplements Market During 2020–2028
According to The Insight Partners market research study on “Europe Omega-3 Supplements Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form, Source, and Distribution Channel,” is expected to reach US$ 14,080.95 million by 2028 from US$ 8,036.57 million in 2021. The market is estimated to grow at a CAGR of 8.3% from 2021 to 2028. The report provides trends prevailing in the Europe omega-3 supplements market along with the drivers and restraints pertaining to the market growth. Advancing product innovation efforts by companies, fostering consumers preferences towards vegan supplements, and enhancing awareness regarding chronic diseases are the major factor driving the growth of the Europe omega-3 supplements market. However, absence of clarity among consumers about the daily recommended intake hinders the growth of Europe omega-3 supplements market.
In Europe, currently France, the UK, and Russia are the worst-impacted countries by the COVID-19 pandemic. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in supply chain. However, shift in consumer lifestyle and rise in preference towards healthy dietary practices have substantially promoted the demand for omega-3 supplements in the regional market.
The Europe omega-3 supplements market is segmented on the basis of form, source, distribution channel and country. Based on form, the market is segmented into capsules, soft gels, and others. In 2020, soft gels segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on source, the market is segmented into fish oil, krill oil, algae oil, and others. In 2020, fish oil segment held the largest share in the market, and krill oil is expected to be the fastest growing segment during the forecast period. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online stores, and others. In 2020, specialty stores segment held the largest share in the market, and online stores is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Germany, the UK, France, Italy, Russia, and Rest of Europe. In 2020, Rest of Europe held the largest share in the market, and the UK is expected to be the fastest growing country during the forecast period.
Church & Dwight, Inc.; Prestige Consumer Healthcare Inc.; NOW Foods; Nordic Naturals; Reckitt Benckiser Group plc.; Pharma Nord B.V.; Rimfrost As; Pharmavite LLC; Quten Research Institute; and Epion Brands are among the leading companies in the Europe omega-3 supplements market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Epion Brands introduced its new Kori Pure Antarctic in Walmart, CVS, Meijer, and HEB. It is also available on Target.com and directly from the product’s website.
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