Krill Oil Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Krill Oil Market by region.
Global Krill Oil Market is valued at approximately USD 740.3 million in 2021 and is anticipated to grow with a healthy growth rate of more than 10.7% over the forecast period 2022-2029.
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Krill Oil is a dietary supplement sourced from a small shrimp-like crustacean named krill. Krill Oil contains omega-3 fatty acids eicosapentaenoic acid (EHA) and docosahexaenoic acid (DHA), the two essential omega-3 fats required for the efficient functioning of the body. It is available in different formats including tablets, soft gel, and capsules among others. The increasing prevalence of coronary heart disease and growing demand for protein & nutrition-rich foods as well as strategic initiatives from the market players are key factors accelerating the market growth.
The increasing prevalence of coronary heart disease is contributing to the growth of the Global Krill Oil Market. For instance, according to Centers for Disease Control and Prevention estimates – as of 2020, around 20.1 million adults aged 20 and older are affected by coronary heart disease. Additionally, approximately 382,820 individuals lost their lives due to coronary heart disease. Moreover, as per British Heart Foundation (BHF) estimates – in 2021, coronary heart disease (CHD) was estimated as the third highest cause of death, with around 66,000 individuals losing their lives due to CHD in 2021. Also, rising awareness towards the health benefits of Krill Oil and increasing consumption of dietary supplements would create a lucrative growth prospectus for the market over the forecast period. However, high costs associated with Krill Oil and decreasing population of aquatic animals stifle the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Krill Oil Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and increasing consumption of dietary supplements in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising prevalence of coronary heart disease and increasing penetration of leading market players in the region.
Major market players included in this report are:
- Aker BioMarine ASA
- Coastside Bio Resources
- Rimfrost AS
- NutriGold, Inc.
- Norwegian Fish Oil AS.
- NWC Naturals Inc.
- Qingdao Kangjing Marine Biotechnology Co., Ltd
- ConnOils LLC
- Viva Naturals.
- Jedwards International, Inc.
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Recent Developments in the Market:
In July 2020, Epion Brands announced the launch of its new Kori Pure Antarctic Krill Oil product. This new product comes in three soft-gel formats standard, which is 1,200 milligrams, small, which is 600 milligrams, and mini, which is*400*milligrams.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product Type
Liquid Type
Tablet Type
Soft Gels
Capsules
By Application
Dietary Supplements
Pharmaceutical
Pet Food and Animal Food
Functional Food and Beverages
Others
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By Distribution Channel
Supermarkets/ Hypermarkets
Departmental Store
Pharmacy Store
Online Store
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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Scope of the Report:
The scope of this report encompasses a comprehensive analysis of the market growth expected to occur from 2023 to 2030. Through meticulous research, we have organized data pertaining to the evolving market structures that exert influence on industries, markets, technologies, and capabilities. Our report presents a thorough examination of relevant statistics, opportunities, challenges, drivers, restraints, limits, market size, share, and trends. By delivering valuable insights, we aim to provide a comprehensive understanding of the market landscape.
Our Krill Oil Market Report is divided into several chapters to provide readers with a comprehensive understanding of the market.
Chapter 1 includes the scope of the report, research methodology, and other relevant information regarding the report’s contents.
Chapter 2 provides an executive summary, including the global Krill Oil market size, sales and revenue, and compound annual growth rate (CAGR). It also includes the Krill Oil market size by region, type, and application, historical data from 2018 to 2023, and a forecast until 2030.
Chapter 3 focuses on Krill Oil market sales, revenue, average price, global market share, and industry ranking by company from 2018 to 2023.
Chapter 4 presents global Krill Oil Market sales and revenue by region and country. It provides country-specific data and market value analysis for regions including the U.S., Canada, Europe, China, Japan, South Korea, Southeast Asia, India, Latin America, and the Middle East and Africa.
Chapters 5 through 8 delve deeper into the market, focusing on sales segments by country and type for each region including the Americas, APAC, Europe, and the Middle East and Africa.
Chapter 9 analyzes current market trends, market forecasts, opportunities, and economic trends that may affect the future of the marketplace.
Chapter 10 examines the manufacturing cost structure analysis of the market.
Chapter 11 explores sales channels, distributors, and customers.
Chapter 12 presents a world forecast review for geographic regions.
Chapter 13 analyzes key players in the market.
Chapter 14 provides research findings and a conclusion.
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