According to IMARC Group’s latest report, titled “Krill Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global krill oil market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of 11.5% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Krill, also known as Euphausia superb, are tiny, shrimp-like crustaceans found mostly in the oceans. The oil extracted from krill is mainly present in liquid, capsules, and soft gels form. It helps in reducing blood pressure and cholesterol levels, maintaining heart health, and improving metabolism. Krill oil is rich in astaxanthin, which improves immunity and minimizes muscle inflammation. As a result, it is extensively used in dietary supplements, functional food and beverages, pharmaceuticals, animal feed, etc.
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Market Trends
The increasing geriatric population and growing incidences of gastrointestinal disorders are propelling the demand for krill oil. Additionally, rising consumer awareness towards several health benefits of krill oil further escalates the product demand. The growing consumption of gelatin capsules to ensure oil-soluble nutrient delivery with minimal gastrointestinal irritation is also driving the market. Krill oil is also utilized in infant formula as it contains eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) that enhance infant brain development. Moreover, the growing trend of pet humanization and concerns towards pet health has further increased the demand for krill oil in pet food and supplements. Furthermore, krill oil is widely used in the pharmaceutical industry due to its high content of omega-3 polyunsaturated fatty acids. Also, several innovations in the oil extraction technology and growing krill fish cultivation across several geographic locations is projected to bolster the krill oil market.
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List of Key Companies Covered in this Market Report:
- Aker Biomarine Antarctic AS
- Coastside Bio Resources
- Ergomax B.V.
- Krill Canada Sales Corporation
- Neptune Wellness Solutions Inc
- Norwegian Fish Oil AS
- NutriGold Inc.
- NWC Naturals Inc.
- Nutracode LLC
- Qingdao Kangjing Marine Biotechnology Co. Ltd.
- Rimfrost AS
- Schiff Nutrition International Inc. (Reckitt Benckiser Group Plc).
The report has segmented the market on the basis of product type, application and geography
Breakup by Product Type:
- Liquid
- Softgels
- Capsules
Breakup by Application:
- Dietary Supplements
- Animal Feed
- Functional Foods and Beverages
- Pharmaceuticals
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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