European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank7

Sweden · Consumer Cyc.

Zinzino

Offers test-based nutritional supplements, skincare and lifestyle products; its network includes independent partners worldwide.

+141%revenue growth
FY2022–FY2025
+394%net-income growth
FY2022–FY2025
+579%stock return
FY2022–FY2025
−15%2026 stock return
current context only

Company profile

Home tests, recurring nutrition routines and direct distribution

Zinzino AB is a Swedish listed direct-sales company marketing home tests, nutrition products and skincare in more than 100 markets. Its signature loop couples a dried-blood-spot test with a supplement routine and a later retest; the wider range spans gut health, vitamin D, blood-sugar tracking and skin nutrition. Independent Partners are distributors rather than employees, while laboratory analysis, ingredient processing and manufacturing involve a mix of outside specialists, a 49%-owned associate and a group production subsidiary.

Test-based concept

A test, a routine and a second measurement

The flagship Balance concept starts with a self-administered dried-blood-spot BalanceTest. Samples are analysed anonymously by independent Vitas in Oslo; customers may then pair the result with a BalanceOil+ routine and retest after about 120 days. Zinzino's home tests are self-screening tools for information, not for diagnosis, treatment or cure.

Tests and products

The range extends beyond the omega-3 starting point

Beyond fatty acids, the home-test range includes Gut Health, Vitamin D and HbA1c tests. The shop also lists ZinoBiotic+ with eight dietary-fibre sources and Collagen Boozt with marine collagen and hyaluronic acid. These are concrete examples rather than the whole catalogue, and the product pages retain the company's food-supplement and self-screening disclaimers.

Production and quality chain

Suppliers, an associate and a subsidiary have different roles

External supplier LYSI refines fish oil from sardines, anchovies and mackerel in Reykjavik. Cleanthi, a Cypriot olive-oil producer in which Zinzino owns 49%, is an associated company rather than a wholly owned unit. Faun Pharma is different again: Zinzino owns 98.8% of the Vestby subsidiary, which develops and makes tablets, capsules and powders, bottles oils and also serves outside customers.

Markets and recurring orders

Independent Partners support an online subscription model

Zinzino reports more than 40,000 Independent Partners and customers in over 100 markets on five continents. The annual report describes those Partners as field distributors, separate from the group's 322 employees at year-end 2025. Customers can buy once or subscribe; Premier subscriptions, automatic refills, ZinoCash and the referral-linked Zinzino4Free programme are designed to keep ordering within the same online system.

Current 2026 update

What has changed in 2026?

Second quarter ended 30 June 2026 · 3 July 2026

Second quarter ended 30 June 2026latest official update
2company-specific highlights
−15%2026 stock return · context only

Second-quarter revenue

Group revenue was SEK 930.2 million, 17.1% above the second quarter of 2025.

Second quarter ended 30 June 2026 · SEK 930.2m · +17.1%

Regional sales mix

Despite group growth, second-quarter sales fell 9% in both East Europe and Asia-Pacific; East Europe was down 11% for the first half.

Second quarter and six months ended 30 June 2026

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY20257+141%+394%+579%