A recent report published by Infinium Global Research on the krill oil market provides an in-depth analysis of segments and sub-segments in the global as well as the regional krill oil market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional krill oil market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global krill oil market. According to the report, the global krill oil market is projected to grow at a CAGR of 11.70% over the forecast period of 2021-2027.

Market Insight

The global Krill oil market size was estimated at USD 339.25 million in 2021 and is expected to expand USD 660.51 million in 2027 at a compound annual growth rate (CAGR) of 11.70% from 2021 to 2027.  For years, people have been taking fish oil supplements for the essential fatty acids and more and more people have been turning to krill oil as an alternative. Krill oil is a marine phospholipid complex of choline and omega-3s. Its growing popularity has raised some concerns about sustainability. krill oil is rich in EPA and DHA that provide most of its health benefits. While it may share and even exceed many of fish oil’s health benefits, it comes at a higher cost. Due to expensive harvesting and processing methods, krill oil can often be as much as 10 times more expensive than fish oil.

The growing geriatric population coupled with the high prevalence of gastrointestinal disorders is providing a growing demand for krill oil market. Health benefits offered by consumption of krill oil to reduce cholesterol level, blood pressure, and coronary heart diseases such as heart attacks and strokes is anticipated to drive the market demand. Additionally, growing consumer awareness towards health and wellness is driving the demand for dietary supplements. Furthermore, the growing utilization of krill oil in infant formula due to the presence of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) is driving the market growth. In addition, growing concerns towards pet health are also propelling the usage of krill oil in pet food and supplements. Moreover, the increasing adoption of krill oil in the pharmaceutical industry based on the high content of omega-3 polyunsaturated fatty acids is also driving the global market. Furthermore, several advancements in the oil extraction technology along with growing cultivation of krill fish across different geographic locations will provides a significant growth opportunity for the market. However, quality and sustainability concerns regarding omega-3 oils produced from krill sources, is affecting to the growth of the market.

North America dominates the krill oil market. A rising consumer inclination toward fitness in the U.S., Canada, and Mexico is anticipated to drive the krill oil product demand in functional food and beverage application. Furthermore, the introduction of new product forms of dietary supplements are further expected to boost the demand for krill oil in North America. Asia Pacific is growing with a healthy CAGR as the rising demand for the krill oil product in countries such as China, India, Singapore, South Korea, Australia, and Japan. The penetration of krill oil in the daily diet, is augmenting the demand for omega 3 in this region. Moreover, the growing cultivation of krill fish in the Indian Ocean and South China Sea is expected to further drive the Asia Pacific market.

Segment Covered

The report on global krill oil market covers segments such as product, and application. On the basis of product, the sub-markets include liquids, softgels, and capsules. On the basis of application, the sub-markets include dietary supplements, animal feed, and functional food & beverages.

Companies Profiled:

The report provides profiles of the companies in the market such as Coastside Bio Resources, Aker BioMarine, Neptune Wellness Solutions Inc, Enzymotec Ltd, RIMFROST AS, NutriGold Inc, NWC Naturals Inc, Qingdao Kangjing Marine Biotechnology Co., Ltd, RB LLC, and Olympic Seafood AS.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of krill oil market . Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.