Krill Oil Market

Global krill oil market has been witnessing significant growth in the recent years owing to increased health awareness among the consumers across the globe. Krill is a small crustacean which is found abundantly in Antarctic waters and is considered highly nutritious. Krill oil contains omega-3 fatty acids Environmental Protection Agency (EPA) and Docosahexaenoic acid (DHA) which offers various health benefits such as improving heart health, boosting brain function, reducing inflammation, and enhancing mood and joints health. Rising health consciousness, busy lifestyle, and growing geriatric population have been fueling the demand for various nutrient-rich supplements including krill oil globally. Krill oil is an important omega-3 fatty acid that is extracted from Antarctic krill, which contain fatty acids that are vital for human health and development. The major types of omega-3 fatty acids found in krill oil are EPA and DHA, similar to fish oil. However, krill oil is gaining more popularity as compared to fish oil due to its easier absorption in the human body and freedom from toxic impurities which may be present in some fish oils.

Market Dynamics:

Global krill oil market is primarily driven by rising consumer preference for nutritional supplements over pharmaceutical drugs. Growing awareness about various health advantages of krill oil as compared to fish oil is positively impacting the market growth. However, high cost of krill oil as compared to fish oil supplements can hamper the mass adoption of krill oil to some extent. Rise in vegan population worldwide has opened up opportunities for krill oil manufacturers to develop plant-based vegan krill oil supplements and capture new customer segments. Introduction of innovative packaging solutions, advanced extraction methods, and new flavors continue to create new avenues in the market.

Key Features of the Study:

• This report provides an in-depth analysis of the market, and provides market size (US$ Mn) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include - Neptune Biotech Pvt. Ltd., Aker BioMarine AS, Enzymotec Ltd, Fuji Chemicals, Krill Canada, Rimfrost, Norwegian Fish Oil, Darduck Frd, and Quingdao Kangjing Marine Biotechnology Co. Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up gradation, market expansion, and marketing tactics
• The market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market

Detailed Segmentation:

• By Form
• • Liquid
  • Tablets
• By Application
• • Dietary Supplements
  • Functional Food & Beverages
  • Pharmaceuticals
  • Pet Food and Animal Feeds
  • Others (Infant Formula)
• By Region
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Top Companies in this Market
• • Neptune Biotech Pvt. Ltd.
  • Aker BioMarine AS
  • Enzymotec Ltd
  • Fuji Chemicals
  • Krill Canada
  • Rimfrost
  • Norwegian Fish Oil
  • Darduck Frd
  • Quingdao Kangjing Marine Biotechnology Co. Ltd.