Report : Europe Ketones Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Form (Solid and Liquid), and Application (Food and Beverage, Dietary Supplements, Personal Care and Cosmetics, and Others)
Liquid Segment to Dominate Europe Ketones Market during 2021–2028
According to a new market research study on “Europe Ketones Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form and Application” is expected to reach US$ 1,407.51 million by 2028 from US$ 934.78 million in 2021. The market is estimated to grow at a CAGR of 6.0% from 2021 to 2028. The report provides trends prevailing in the Europe ketones market along with the drivers and restraints pertaining to the market growth. Rising popularity of ketone supplements is the major factor driving the growth of the Europe ketones market. However, issues associated with the dearth of awareness and low adoption of ketone supplements hinder the growth of Europe ketones market.
The Europe ketones market is segmented into form, application and country. Based on form, the ketones market is segmented into solid and liquid. The liquid segment dominated the market in 2020 and solid segment is expected to be the fastest growing during the forecast period. Based on application, the Europe ketones market is segmented into food and beverage, dietary supplements, personal care and cosmetics, and others. The others segment dominated the market in 2020 and dietary supplements segment is expected to be the fastest growing during the forecast period. Based on country, the ketones market is classified into Germany, France, Italy, UK, Russia, and Rest of Europe.
In Europe, France and Italy recorded the highest number of COVID-19 cases. Moreover, Russia, the UK, and Germany are amongst the worst hit countries and are expected to suffer an economic hit due to the lack of revenue from various industries. European countries have implemented drastic measures and travel restrictions, including partially closing their borders. Extended lockdowns created trade barriers and restricted the operations of various industries in the region. These factors potentially restricted the growth of ketones market. However, with the European countries getting vaccinated, recommencement of business operations this impact is expected to ease out in the coming years leading to growth of ketones market across the region.
Eastman Chemical Company; Health Sources Nutrition CO., LTD.; Hunan NutraMax Inc.; Orchid Chemical Supplies Ltd; Royal Dutch Shell plc.; SABIC; and Taj Pharmaceuticals Chemicals are among the leading companies in the Europe ketones market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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