Norway Nutritional Supplements Market Report 2022 to 2030

Norway Nutritional Supplements Market Analysis

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By 2030, it is anticipated that the Norway Nutrition and Supplements market will reach a value of $xx Bn from $xx Bn in 2022, growing at a CAGR of xx% during 2022-2030. The nutrition and supplements market in Norway is primarily dominated by local players such as Pharma Nord, Sana Pharma, and Nordic Naturals. The market for nutrition and supplements in Norway is primarily driven by an inclination towards better health infrastructure, government regulations and increasing consumer awareness of health and lifestyle. The Norway nutrition and supplements market in Norway is segmented by Type, Product, application, and Distribution Channel.

ID: IN10NOON002 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Norway AUTHOR: Dr. Vishwa Modhia

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Norway Nutrition and Supplements Market Analysis Summary

By 2030, it is anticipated that the Norway Nutrition and Supplements market will reach a value of $xx Bn from $xx Bn in 2022, growing at a CAGR of xx% during 2022-30.

Norway is a country in Northern Europe occupying the western portion of the Scandinavian Peninsula as well as the volcanic island Jan Mayen and the Arctic Archipelago of Svalbard. Fish is widely consumed in Norway, which also produces and exports a lot of it. A large portion of fatty fish, such as salmon and mackerel, which are high in omega-3 fatty acids, is often included in the Norwegian diet.

The demand for meals and supplements made with sustainably harvested resources is rising in Norway as people there are becoming more conscious of how their eating habits affect the environment. For instance, there is a rising interest in nutrition supplements that are derived from plants and from sustainable sources, such as algae. The amount Norway spent on health in 2019 (10.5 % of GDP) was comparable to that of other Scandinavian nations and slightly higher than the EU average.

Market Dynamics

Market Growth Drivers Analysis

Individuals and families can take use of a variety of nutrition counselling services provided by Norwegian medical professionals. Programs for healthy eating and weight loss, individualised meal planning, and suggestions for nutrition supplements are some examples of services. The International Life Sciences Institute has qualified a large number of medical practitioners in Norway as registered dietitians. They may be sure they have the knowledge and abilities to offer high-quality nutrition counselling services thanks to this accreditation. Food fortification with critical nutrients has a long history in Norway, and it is still popular today. For instance, vitamin D is often added to dairy products, which is crucial in a nation with lengthy, dark winters. These factors have the potential to drive the Norway nutrition and supplement market.

Market Restraints

In an effort to modernise and elevate standards within the European Union, the Norwegian government has strengthened the regulations currently in place regarding the addition of vitamins and minerals to nutrition supplements. These factors may deter new entrants into the Norway nutrition and supplement market.

Competitive Landscape

Key Players

Nordic Naturals (NOR)
Sana Pharma (NOR)
Pharma Nord (NOR)
Pureviva (NOR)
Nutriment (NOR)
NYO3 (NOR)
DSM NUTRITIONAL PRODUCTS AG (NOR)

Recent Notable Update

February 2023: The high-end health brand NYO3 from Norway has joined Douyin in a strategic partnership and has relocated to Douyin's global buying division. It is noteworthy that this time, NYO3 and Douyin Global Purchase's collaboration has reached a record-breaking high of over 10 Mn. Since then, the Norwegian brand NYO3, Shuangxin, Blackmores, Movefree, Swisse, and By-Health have evolved into Douyin's "six worldwide collaboration brands for nutrition supplements," among the subcategories of nutrition supplements that Douyin purchases globally.

May 2021: Lesaffre announces the completion of its acquisition of NattoPharma, a Norwegian nutraceutical business that focuses on vitamin K2 research and marketing. With this acquisition, Gnosis by Lesaffre, the business unit of Lesaffre devoted to human care, is enhancing its position in the international market for human nutrition and health and reaffirming its commitment to stepping up its R&D efforts. With this declaration, the February friendly public offer to purchase all of the outstanding shares of NattoPharma, a business listed on Euronext Expand Oslo, has been successfully concluded. Lesaffre currently owns more than 90% of NattoPharma's shares, therefore in due course, a delisting and compulsory acquisition of the remaining shares will take place.

Healthcare Policies and Reimbursement Scenarios

In Norway, laws governing nutrition supplements and nutrition are overseen by the Norwegian Food Safety Authority. Food supplements must adhere to the regulations, which outline their labelling, composition, and safety standards. The selling of food supplements is governed by the Chief Sanitary Inspectorate. The governing body is the Ministry of Health and Care Services. The national agency with jurisdiction over both pharmaceuticals is the Norwegian Medicines Agency, which reports to HOD.

The Norwegian Health Economics Administration oversees a reimbursement programme for some nutrition supplements and medicinal foods in Norway (Helfo). This programme offers financial aid to patients who, as part of their treatment plan, need additional nutrients or special diets due to certain medical problems. Only those with specified medical illnesses, such as phenylketonuria (PKU), inborn metabolic defects, and certain gastrointestinal disorders, are eligible for the payment programme.

1. Executive Summary
1.1 Product Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Government Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel and Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Nutritional Supplements Market Segmentation

The Nutritional Supplements Market is segmented as mentioned below:

By Product (Revenue, USD Billion):

Sports Nutrition
- Sports Food
- Sports Drinks
- Sports Supplements

Fat Burners
- Green Tea
- Fiber
- Protein
- Green Coffee
- Others (Turmeric, Ginseng, Cranberry, Garcinia Cambogia)?

Dietary Supplements
- Vitamins
- Minerals
- Enzymes
- Amino Acids
- Conjugated Linoleic Acids

Functional Foods
- Probiotics
- Omega-3
- Others

By Consumer Group (Revenue, USD Billion):

Infant
Children
Adults
Pregnant
Geriatric

By Formulation (Revenue, USD Billion):

Tablets
Capsules
Powder
Softgels
Liquid
Others

By Delivery Channel (Revenue, USD Billion):

Chemists/Pharmacists
Direct-to-Consumer Sales
E-commerce

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

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In Norway, laws governing nutrition supplements and nutrition are overseen by the Norwegian Food Safety Authority.

The Norwegian Health Economics Administration oversees a reimbursement programme for some nutrition supplements and medicinal foods in Norway (Helfo).

The nutrition and supplements market in Norway is primarily dominated by local players such as Pharma Nord, Sana Pharma, and Nordic Naturals.