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Krill Oil Market Size, Share, Industry & Opportunities 2031
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Krill Oil Market Size, Share, Industry & Opportunities 2031

Segments - Krill Oil Market Segment by Applications (Pet Food & Animal Food, Pharmaceuticals, Dietary Supplements, and Functional Food & Beverages), Forms (Tablet and Liquid), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

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Author : Anuradha B. More
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Fact-checked by : Vaibhav Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :FB-3995 | 4.7 Rating | 73 Reviews | 190 Pages | Format : PDF Excel PPT

Report Description


The global krill oil market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the rising health awareness along with growing geriatric population across the globe.

Krill oil is derived from a tiny, translucent marine critter that lives at the bottom of the ocean. It is used in dietary supplements as seafood, which is considered to be a rich source of nutrients. It also has considerable amount of medicinal value and, as a result, it is extensively used to cure several serious health disorders.

Global Krill Oil Market Key Takeaways

Furthermore, it has the potential to replace fish oil and is used for various food & beverage products. It contains the important omega-3 fats eicosapentaenoic acid (EHA) and docosahexaenoic acid (DHA), which are required for normal bodily function. Heart disease, excessive levels from certain blood lipids (triglycerides), high blood pressure, osteoarthritis, stroke, high cholesterol, cancer, depression, and premenstrual syndrome are some of the conditions, which can be treated with the use of krill oil.

The COVID-19 pandemic has a considerable impact on the global krill oil market. Due to the ongoing pandemic, stringent lockdown imposed by governments and regulatory agencies around the world, numerous oil related market suffered extensive loss due to hindrances in supply chain worldwide. The market is expected to recover soon with an uptrend operation as due to subsiding COVID cases.

  • Increasing urban population along with rising income levels especially in developing regions is one of the key factors driving the market growth.
  • Rising demand for fortified pet food products is expected to boost the market in the coming years.
  • High production costs and low economies of scale from the supplier end present major challenges. This is anticipated to hamper the market growth during the projected period.
  • Continuous climatic changes are adversely affecting the krill oil production, which is expected to hinder the market during the projected period.
  • Technological advancements in the manufacturing of Active Pharmaceutical Ingredients (APIs) are projected to create significant growth opportunities for the market in the near future.

Scope of Krill Oil Market Report

The report on the global krill oil market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Krill Oil Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Pet Food & Animal Food, Pharmaceuticals, Dietary Supplements, and Functional Food & Beverages) and Forms (Tablet and Liquid)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

NutriGold Inc.; Coastside Bio Resources; Aker BioMarine; Neptune Wellness Solutions, Inc.; and Enzymotec Ltd.

Krill Oil Market Segment Insights

Pharmaceuticals segment to grow at a rapid pace

Based on applications, the global krill oil market is divided into pet food & animal food, pharmaceuticals, dietary supplements, and functional food & beverages.

The pharmaceuticals segment is expected to grow at a rapid pace during the forecast period owing to growing consumption of omega 3 polyunsaturated fatty acids in functional foods. Moreover, increasing spending on the pharmaceutical sector by major key players is expected to drive the segment further.

Global Krill Oil Market Applications

Liquid segment to expand at a considerable CAGR

On the basis of forms, the market is bifurcated into tablet and liquid.

The liquid segment is projected to expand at a considerable CAGR during the forecast period attributed to its properties such as in infant formulations and pet food. On the other hand, the tablets segment is anticipated to account for a major market share during the forecast period as it protects delicate ingredients, enables novel ingredient combinations, ensures the delivery of oil and fat-soluble nutrients, and reduces gastrointestinal irritation.

Europe to constitute a key market share

In terms of regions, the global krill oil market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

Europe is expected to constitute a key share of the market during the projected period owing to rising consumer inclination toward fitness across the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to growing cultivation and demand for krill fish along with products associated with it in the region.

Segments

The global krill oil market has been segmented on the basis of

Applications

  • Pet Food & Animal Food
  • Pharmaceuticals
  • Dietary Supplements
  • Functional Food & Beverages

Forms

  • Tablet
  • Liquid

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

Key players competing in the global krill oil market are NutriGold Inc.; Coastside Bio Resources; Aker BioMarine; Neptune Wellness Solutions, Inc.; and Enzymotec Ltd.

Manufacturers in the market have used a variety of strategic initiatives such as collaborations, partnerships, and mergers & acquisitions to expand their customer base and gain a competitive advantage over competitors. Furthermore, corporations are focusing their investments in R&D for the development of new products in order to build their strong foothold in the market.

Global Krill Oil Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Krill Oil Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Krill Oil Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Krill Oil Market - Supply Chain
  4.5. Global Krill Oil Market Forecast
     4.5.1. Krill Oil Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Krill Oil Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Krill Oil Market Absolute $ Opportunity
5. Global Krill Oil Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Krill Oil Market Size and Volume Forecast by Applications
     5.3.1. Pet Food & Animal Food
     5.3.2. Pharmaceuticals
     5.3.3. Dietary Supplements
     5.3.4. Functional Food & Beverages
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Krill Oil Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Krill Oil Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Krill Oil Demand Share Forecast, 2019-2026
7. North America Krill Oil Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Krill Oil Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Krill Oil Market Size and Volume Forecast by Applications
     7.4.1. Pet Food & Animal Food
     7.4.2. Pharmaceuticals
     7.4.3. Dietary Supplements
     7.4.4. Functional Food & Beverages
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Krill Oil Demand Share Forecast, 2019-2026
8. Latin America Krill Oil Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Krill Oil Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Krill Oil Market Size and Volume Forecast by Applications
     8.4.1. Pet Food & Animal Food
     8.4.2. Pharmaceuticals
     8.4.3. Dietary Supplements
     8.4.4. Functional Food & Beverages
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Krill Oil Demand Share Forecast, 2019-2026
9. Europe Krill Oil Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Krill Oil Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Krill Oil Market Size and Volume Forecast by Applications
     9.4.1. Pet Food & Animal Food
     9.4.2. Pharmaceuticals
     9.4.3. Dietary Supplements
     9.4.4. Functional Food & Beverages
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Krill Oil Demand Share Forecast, 2019-2026
10. Asia Pacific Krill Oil Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Krill Oil Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Krill Oil Market Size and Volume Forecast by Applications
     10.4.1. Pet Food & Animal Food
     10.4.2. Pharmaceuticals
     10.4.3. Dietary Supplements
     10.4.4. Functional Food & Beverages
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Krill Oil Demand Share Forecast, 2019-2026
11. Middle East & Africa Krill Oil Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Krill Oil Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Krill Oil Market Size and Volume Forecast by Applications
     11.4.1. Pet Food & Animal Food
     11.4.2. Pharmaceuticals
     11.4.3. Dietary Supplements
     11.4.4. Functional Food & Beverages
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Krill Oil Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Krill Oil Market: Market Share Analysis
  12.2. Krill Oil Distributors and Customers
  12.3. Krill Oil Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. NutriGold Inc.
     12.4.2. Coastside Bio Resources
     12.4.3. Aker BioMarine
     12.4.4. Neptune Wellness Solutions, Inc.
     12.4.5. Enzymotec Ltd.

Methodology

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