According to MarkNtel Advisors study the Global Krill Oil Market size was valued at USD 812 million in 2023 and is estimated to grow at a CAGR of around 10.21% during the forecast period, i.e., 2024-30.

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Key Findings of the Study: Krill Oil market

Global Krill Oil Market Driver:

Consumers' Increasing Demand for Dietary Supplements to Promote Market Growth – In recent times, shifts in lifestyles & dietary preferences have led to a global shortage in meeting recommended nutrition levels. As a result, consumers are increasingly turning to supplements to address this nutritional gap. Krill oil, containing essential omega-3 fatty acids, has gained popularity among individuals adopting healthy lifestyle practices.

Also regarded as a health-conscious choice due to its high protein content and nutritional value, krill oil is available in various forms, including capsules, tablets, powders, and liquids. The growing health awareness among the public has sparked heightened interest in dietary supplements for overall well-being. Hence, this surge in appeal is propelling the demand for krill oil supplements, thereby driving the Krill Oil Market.

Global Krill Oil Market Challenge:

High Production & Procurement Cost Compared to Other Oils to Impede the Growth – Krill oil can be derived from both fresh krill and dried krill biomasses. However, fresh krill contains significant levels of proteolytic enzymes, leading to rapid autolysis of the crustacean. Consequently, immediate processing of krill is essential post-capture. The extraction of krill oil involves various methods, such as solvent, non-solvent, SCFE (Supercritical Fluid Extraction), and enzyme-assisted extraction procedures. This results in a higher manufacturing cost compared to conventional oils in the market. Therefore, the elevated production cost becomes a limiting factor for the Krill Oil Market expansion.

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Scope of the Report and Krill Oil Market Segmentation:

By Form

• Liquid-Market Size & Forecast 2019-2030F, USD Million
• Capsule- Market Size & Forecast 2019-2030F, USD Million
• Soft gels- Market Size & Forecast 2019-2030F, USD Million

During the forecast period, the Soft gel category is expected to capture a substantial share of the Krill Oil Market.

By Application

• Dietary Supplements- Market Size & Forecast 2019-2030F, USD Million
• Fortified Food & Beverages- Market Size & Forecast 2019-2030F, USD Million
• Pharmaceuticals- Market Size & Forecast 2019-2030F, USD Million
• Animal Feed- Market Size & Forecast 2019-2030F, USD Million
• Others- Market Size & Forecast 2019-2030F, USD Million

By Distribution Channel

• Offline- Market Size & Forecast 2019-2030F, USD Million
  • Supermarkets/Hypermarkets- Market Size & Forecast 2019-2030F, USD Million
  • Drug Stores & Pharmacies- Market Size & Forecast 2019-2030F, USD Million
• Online- Market Size & Forecast 2019-2030F, USD Million

Krill Oil Market Competitive Landscape

• Aker Bio Marine
• Enzymotec USA Inc.
• Omega Protein
• Rimfrost AS
• Schiff Nutrition International Inc.
• Norwegian Fish Oil AS
• Nutri Gold Inc.
• Ergomax
• Qingdao Kangjing Marine Biotechnology Co. Ltd.
• NWC Natural Inc.
• Nutracode
• Krill Canada Corporation
• Superbakerill

Geographical Analysis:

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Note: If you require specific information not covered in the current report, we can provide it through customized option

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