European krill oil market is projected to grow at a significant CAGR during the forecast period (2020-2026). The growing demand of food supplement in the various countries such as UK, Germany, France, and others further encourages the demand of krill oil as substances used for food supplements. In the EU, the food supplements regulation is dictated by Directive 2002/46/EC of the European Parliament and of the Council of 10 June 2002, on the approximation of the laws of the Member States relating to food supplements. The directive defines food supplements as foodstuffs with a purpose to supplement the normal diet and that are concentrated sources of nutrients or other substances with a nutritional or physiological effect.
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Furthermore, the presence of the major food supplements company in the region such Nautilus GmbH, Divis Nutraceuticals, Bayer Healthcare AG, and BASF SE among others that are making a key contribution towards the development of new products is fueling the market growth of nutraceuticals in the country. In July 2020, Evonik Industries AG, a German-based company has introduced an anthocyanin food supplement to support the health of blood vessels in pharmacies across its local market. The launch of such products in the market is expected to create awareness regarding the benefits of food nutrients which in turn is anticipated to drive the growth of the krill oil market across the region.
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European Krill Oil Market – Segmentation
By Product Type
- Capsules
- Softgels
- Liquids
- By Application
- Functional food and beverages
- Dietary supplements
- Pharmaceuticals
- Others (Animal feed)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
