Krill Oil Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2033

Description

Persistence Market Research has recently released a comprehensive report on the worldwide market for krill oil. The report offers a thorough assessment of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure.

Key Insights:

Krill Oil Market Size (2024E): USD 183.2 Million
Projected Market Value (2033F): USD 357.7 Million
Global Market Growth Rate (CAGR 2024 to 2033): 7.7%

Krill Oil Market - Report Scope:

Krill oil, derived from Antarctic krill, is rich in omega-3 fatty acids, phospholipids, and antioxidants, making it a popular supplement for promoting heart health, reducing inflammation, and supporting brain function. The krill oil market caters to dietary supplement manufacturers, pharmaceutical companies, and functional food producers, offering a range of product types, including liquid krill oil, softgels, and capsules. Market growth is driven by increasing consumer awareness of the health benefits associated with omega-3 fatty acids, rising demand for natural and sustainable supplements, and advancements in extraction and production technologies, enhancing product quality and efficacy.

Market Growth Drivers:

The global krill oil market is propelled by several key factors, including growing consumer awareness of the health benefits of omega-3 fatty acids found in krill oil, such as improved cardiovascular health, reduced inflammation, and enhanced cognitive function. The rising demand for natural and sustainably sourced supplements, coupled with the increasing prevalence of chronic diseases and lifestyle-related health issues, further drives market expansion. Technological advancements in krill oil extraction and production, such as improved cold extraction techniques and encapsulation methods, offer superior product quality, stability, and bioavailability, fostering market growth. Moreover, the expanding application of krill oil in functional foods and beverages and the rising popularity of personalized nutrition solutions create new avenues for market players to reach a wider consumer base.

Market Restraints:

Despite promising growth prospects, the krill oil market faces challenges related to sustainability concerns, regulatory compliance, and high production costs. Overfishing of krill in the Antarctic region poses a significant threat to marine ecosystems, leading to stringent regulations governing krill harvesting and oil production. Compliance with these regulations imposes operational burdens on manufacturers, affecting market entry barriers and production costs. Furthermore, the high cost of krill oil supplements compared to other omega-3 sources, such as fish oil, poses challenges for market penetration, particularly in price-sensitive markets. Addressing these sustainability and economic barriers requires collaboration between industry stakeholders, environmental organizations, and policymakers to promote sustainable krill harvesting practices and affordable product solutions.

Market Opportunities:

The krill oil market presents significant growth opportunities driven by technological innovations, evolving consumer preferences, and expanding applications. The development of advanced extraction and production technologies enhances the quality, stability, and bioavailability of krill oil, supporting its adoption in high-value applications, such as pharmaceuticals and nutraceuticals. The growing trend towards natural and personalized nutrition solutions, along with increasing consumer demand for clean-label and sustainably sourced products, offers opportunities for product differentiation and market expansion. Strategic partnerships, investment in research and development, and the introduction of innovative krill oil formulations, such as combination supplements and functional foods, are essential to capitalize on emerging opportunities and sustain market leadership in the dynamic krill oil landscape.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the krill oil market globally?
Which product types and applications are driving krill oil adoption across different segments?
How are technological advancements reshaping the competitive landscape of the krill oil market?
Who are the key players contributing to the krill oil market, and what strategies are they employing to maintain market relevance?
What are the emerging trends and future prospects in the global krill oil market?

Competitive Intelligence and Business Strategy:

Leading players in the global krill oil market, including Aker BioMarine, Neptune Wellness Solutions, and Qingdao Kangjing Marine Biotechnology, focus on innovation, product differentiation, and sustainable sourcing practices to gain a competitive edge. These companies invest in R&D to develop advanced krill oil solutions, including high-concentration omega-3 formulations, phospholipid-rich oils, and novel delivery systems, catering to diverse consumer needs and regulatory requirements. Collaborations with environmental organizations, healthcare providers, and dietary supplement distributors facilitate market access and promote sustainability initiatives. Moreover, emphasis on clinical research, evidence-based health claims, and consumer education fosters market growth and enhances consumer trust in the rapidly evolving krill oil landscape.

Key Companies Profiled:

AdvaCare Pharma
Aker Biomarine
Beijing Be-Better Technology Co. Ltd.
Biocorp Co. Ltd.
Bio-Mer New Zealand
IAF NETWORK S.p.A.
Jarrow Formulas Inc.
KLAIRE LABS
Kori
NORWAY OMEGA LTD.
NOW(R) Foods
NutriGold Inc.
NutriNZ
Orzaks ?lac ve Kimya Sanayi
Qingdao Kangjing Marine Biotechnology Co. Ltd.
Reckitt Benckiser Group Plc
Rimfrost AS
Viva Naturals
Xi'an Prius Biological Engineering Co. Ltd.
Xi'an Sost Biotech Co. Ltd.

Krill Oil Market by Category

By End Use:

Dietary Supplement
Pharmaceutical
Animal Feed

By Sales Channel:

Business to Business
Business to Consumer

By Region:

North America
Europe
East Asia
South Asia & Oceania
Latin America
Middle East & Africa

Product Code: PMRREP6721

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends

4. Key Success Factors

4.1. Key Market Strategies
4.2. Product Adoption/Usage Analysis

5. Global Krill Oil Market Demand (Volume in Tons) Analysis 2019-2023 and Forecast, 2024-2033

5.1. Historical Market (Volume in Tons) Analysis, 2019-2023
5.2. Current and Future Market (Volume in Tons) Projections, 2024-2033

6. Global Krill Oil Market - Pricing Analysis

6.1. Regional Pricing Analysis
6.2. Global Average Pricing Analysis Benchmark

7. Global Krill Oil Market Demand Value (US$ Mn) Analysis 2019-2023 and Forecast, 2024-2033

7.1. Historical Market Value (US$ Mn) Analysis, 2019-2023
7.2. Current and Future Market Value (US$ Mn) Projections, 2024-2033
- 7.2.1. Y-o-Y Growth Trend Analysis
- 7.2.2. Absolute $ Opportunity Analysis

8. Market Background

8.1. Macro-Economic Factors
- 8.1.1. Global GDP Growth Outlook
- 8.1.2. Global Industry Value Added
- 8.1.3. Global Urbanization Growth Outlook
- 8.1.4. Global Food Security Index
- 8.1.5. Global Rank - Ease of Doing Business
- 8.1.6. Global Rank - Trading Across Borders
8.2. Global Aquaculture Industry Outlook
8.3. Global Dietary Supplements Industry Outlook
8.4. Global Pharmaceutical Industry Outlook
8.5. Krill Oil Processing Overview
8.6. Krill Oil Composition
8.7. Market Dynamics
- 8.7.1. Drivers
- 8.7.2. Restraints
- 8.7.3. Opportunity Analysis
8.8. Value Chain Analysis
8.9. Forecast Factors - Relevance & Impact

9. Global Krill Oil Market Analysis 2019-2023 and Forecast 2024-2033, By End Use

9.1. Introduction / Key Findings
9.2. Historical Krill Oil Market (US$ Mn) Analysis By End Use, 2019-2023
9.3. Current and Future Krill Oil Market (US$ Mn) Analysis and Forecast By End Use, 2024-2033
- 9.3.1. Dietary Supplements
- 9.3.2. Pharmaceutical
- 9.3.3. Animal Feed
- 9.3.4. Others
9.4. Market Attractiveness Analysis By End Use

10. Global Krill Oil Market Analysis 2019-2023 and Forecast 2024-2033, by Distribution Channel

10.1. Introduction
10.2. Historical Krill Oil Market (US$ Mn) Analysis By Distribution Channel, 2019-2023
10.3. Current Krill Oil Market (US$ Mn) Analysis and Forecast By Distribution Channel, 2024-2033
- 10.3.1. Business to Business
- 10.3.2. Business to Consumer
  - 10.3.2.1. Hypermarkets/Supermarkets
  - 10.3.2.2. Convenience Stores
  - 10.3.2.3. Specialty Stores
  - 10.3.2.4. Online Retail
10.4. Market Attractiveness Analysis By Distribution Channel

11. Global Krill Oil Market Analysis 2019-2023 and Forecast 2024-2033, by Region

11.1. Introduction
11.2. Historical Krill Oil Market (US$ Mn) Analysis By Region, 2019-2023
11.3. Current Krill Oil Market (US$ Mn) Analysis and Forecast By Region, 2024-2033
- 11.3.1. North America
- 11.3.2. Latin America
- 11.3.3. Europe
- 11.3.4. East Asia
- 11.3.5. South Asia & Pacific
- 11.3.6. Middle East and Africa (MEA)
11.4. Market Attractiveness Analysis By Region

12. North America Krill Oil Market Analysis 2019-2023 and Forecast 2024-2033

12.1. Introduction
12.2. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
12.3. Market Value (US$ Mn) Forecast By Market Taxonomy, 2024-2033
- 12.3.1. By Country
  - 12.3.1.1. U.S.
  - 12.3.1.2. Canada
- 12.3.2. By End Use
- 12.3.3. By Distribution Channel
12.4. Market Attractiveness Analysis

13. Latin America Krill Oil Market Analysis 2019-2023 and Forecast 2024-2033

13.1. Introduction
13.2. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
13.3. Market Value (US$ Mn) Forecast By Market Taxonomy, 2024-2033
- 13.3.1. By Country
  - 13.3.1.1. Brazil
  - 13.3.1.2. Mexico
  - 13.3.1.3. Rest of Latin America
- 13.3.2. By End Use
- 13.3.3. By Distribution Channel
13.4. Market Attractiveness Analysis

14. Europe Krill Oil Market Analysis 2019-2023 and Forecast 2024-2033

14.1. Introduction
14.2. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
14.3. Market Value (US$ Mn) Forecast By Market Taxonomy 2024-2033
- 14.3.1. By Country
  - 14.3.1.1. Germany
  - 14.3.1.2. Italy
  - 14.3.1.3. France
  - 14.3.1.4. U.K.
  - 14.3.1.5. Spain
  - 14.3.1.6. Benelux
  - 14.3.1.7. Nordic
  - 14.3.1.8. Russia
  - 14.3.1.9. Poland
  - 14.3.1.10. Rest of Europe
- 14.3.2. By End Use
- 14.3.3. By Distribution Channel
14.4. Market Attractiveness Analysis

15. South Asia & Pacific Krill Oil Market Analysis 2019-2023 and Forecast 2024-2033

15.1. Introduction
15.2. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
15.3. Market Value (US$ Mn) Forecast By Market Taxonomy2024-2033
- 15.3.1. By Country
  - 15.3.1.1. India
  - 15.3.1.2. Thailand
  - 15.3.1.3. Indonesia
  - 15.3.1.4. Malaysia
  - 15.3.1.5. Oceania (New Zealand & Australia)
  - 15.3.1.6. Rest of South Asia
- 15.3.2. By End Use
- 15.3.3. By Distribution Channel
15.4. Market Attractiveness Analysis

16. East Asia Krill Oil Market Analysis 2019-2023 and Forecast 2024-2033

16.1. Introduction
16.2. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
16.3. Market Value (US$ Mn) Forecast By Market Taxonomy, 2024-2033
- 16.3.1. By Country
  - 16.3.1.1. China
  - 16.3.1.2. Japan
  - 16.3.1.3. South Korea
- 16.3.2. By End Use
- 16.3.3. By Distribution Channel
16.4. Market Attractiveness Analysis

17. Middle East and Africa Krill Oil Market Analysis 2019-2023 and Forecast 2024-2033

17.1. Introduction
17.2. Historical Market Value (US$ Mn) Trend Analysis By Value Taxonomy, 2019-2023
17.3. Market Material (US$ Mn) Forecast By Market Taxonomy, 2024-2033
- 17.3.1. By Country
  - 17.3.1.1. GCC Countries
  - 17.3.1.2. South Africa
  - 17.3.1.3. Rest of Middle East and Africa
- 17.3.2. By End Use
- 17.3.3. By Distribution Channel
17.4. Market Attractiveness Analysis

18. Country Wise Krill Oil Market Analysis, 2024

18.1. Introduction
- 18.1.1. Market Value Proportion Analysis, By Key Countries
- 18.1.2. Global Vs. Country Growth Comparison
18.2. U.S. Krill Oil Market Analysis
- 18.2.1. By End Use
- 18.2.2. By Distribution Channel
18.3. Canada Krill Oil Market Analysis
- 18.3.1. By End Use
- 18.3.2. By Distribution Channel
18.4. Mexico Krill Oil Market Analysis
- 18.4.1. By End Use
- 18.4.2. By Distribution Channel
18.5. Brazil Krill Oil Market Analysis
- 18.5.1. By End Use
- 18.5.2. By Distribution Channel
18.6. Argentina Krill Oil Market Analysis
- 18.6.1. By End Use
- 18.6.2. By Distribution Channel
18.7. Germany Krill Oil Market Analysis
- 18.7.1. By End Use
- 18.7.2. By Distribution Channel
18.8. Italy Krill Oil Market Analysis
- 18.8.1. By End Use
- 18.8.2. By Distribution Channel
18.9. France Krill Oil Market Analysis
- 18.9.1. By End Use
- 18.9.2. By Distribution Channel
18.10. U.K. Krill Oil Market Analysis
- 18.10.1. By End Use
- 18.10.2. By Distribution Channel
18.11. Spain Krill Oil Market Analysis
- 18.11.1. By End Use
- 18.11.2. By Distribution Channel
18.12. Russia Krill Oil Market Analysis
- 18.12.1. By End Use
- 18.12.2. By Distribution Channel
18.13. Poland Krill Oil Market Analysis
- 18.13.1. By End Use
- 18.13.2. By Distribution Channel
18.14. China Krill Oil Market Analysis
- 18.14.1. By End Use
- 18.14.2. By Distribution Channel
18.15. Japan Krill Oil Market Analysis
- 18.15.1. By End Use
- 18.15.2. By Distribution Channel
18.16. S. Korea Krill Oil Market Analysis
- 18.16.1. By End Use
- 18.16.2. By Distribution Channel
18.17. India Krill Oil Market Analysis
- 18.17.1. By End Use
- 18.17.2. By Distribution Channel
18.18. Turkey Krill Oil Market Analysis
- 18.18.1. By End Use
- 18.18.2. By Distribution Channel
18.19. South Africa Krill Oil Market Analysis
- 18.19.1. By End Use
- 18.19.2. By Distribution Channel

19. Market Structure Analysis

19.1. Market Analysis by Tier of Companies
19.2. Market Concentration
19.3. Market Presence Analysis

20. Competition Analysis

20.1. Competition Dashboard
20.2. Competition Benchmarking
20.3. Competition Deep Dive
- 20.3.1. AdvaCare Pharma
  - 20.3.1.1. Overview
  - 20.3.1.2. Product Portfolio
  - 20.3.1.3. Sales Footprint
  - 20.3.1.4. Key Developments
  - 20.3.1.5. Strategy Overview
- 20.3.2. Aker Biomarine
  - 20.3.2.1. Overview
  - 20.3.2.2. Product Portfolio
  - 20.3.2.3. Sales Footprint
  - 20.3.2.4. Key Developments
  - 20.3.2.5. Strategy Overview
- 20.3.3. Beijing Be-Better Technology Co. Ltd.
  - 20.3.3.1. Overview
  - 20.3.3.2. Product Portfolio
  - 20.3.3.3. Sales Footprint
  - 20.3.3.4. Key Developments
  - 20.3.3.5. Strategy Overview
- 20.3.4. Biocorp Co. Ltd.
  - 20.3.4.1. Overview
  - 20.3.4.2. Product Portfolio
  - 20.3.4.3. Sales Footprint
  - 20.3.4.4. Key Developments
  - 20.3.4.5. Strategy Overview
- 20.3.5. Bio-Mer New Zealand
  - 20.3.5.1. Overview
  - 20.3.5.2. Product Portfolio
  - 20.3.5.3. Sales Footprint
  - 20.3.5.4. Key Developments
  - 20.3.5.5. Strategy Overview
- 20.3.6. IAF NETWORK S.p.A.
  - 20.3.6.1. Overview
  - 20.3.6.2. Product Portfolio
  - 20.3.6.3. Sales Footprint
  - 20.3.6.4. Key Developments
  - 20.3.6.5. Strategy Overview
- 20.3.7. Jarrow Formulas Inc.
  - 20.3.7.1. Overview
  - 20.3.7.2. Product Portfolio
  - 20.3.7.3. Sales Footprint
  - 20.3.7.4. Key Developments
  - 20.3.7.5. Strategy Overview
- 20.3.8. KLAIRE LABS
  - 20.3.8.1. Overview
  - 20.3.8.2. Product Portfolio
  - 20.3.8.3. Sales Footprint
  - 20.3.8.4. Key Developments
  - 20.3.8.5. Strategy Overview
- 20.3.9. Kori
  - 20.3.9.1. Overview
  - 20.3.9.2. Product Portfolio
  - 20.3.9.3. Sales Footprint
  - 20.3.9.4. Key Developments
  - 20.3.9.5. Strategy Overview
- 20.3.10. NORWAY OMEGA LTD.
  - 20.3.10.1. Overview
  - 20.3.10.2. Product Portfolio
  - 20.3.10.3. Sales Footprint
  - 20.3.10.4. Key Developments
  - 20.3.10.5. Strategy Overview
- 20.3.11. NOW(R) Foods
  - 20.3.11.1. Overview
  - 20.3.11.2. Product Portfolio
  - 20.3.11.3. Sales Footprint
  - 20.3.11.4. Key Developments
  - 20.3.11.5. Strategy Overview
- 20.3.12. NutriGold Inc.
  - 20.3.12.1. Overview
  - 20.3.12.2. Product Portfolio
  - 20.3.12.3. Sales Footprint
  - 20.3.12.4. Key Developments
  - 20.3.12.5. Strategy Overview
- 20.3.13. NutriNZ
  - 20.3.13.1. Overview
  - 20.3.13.2. Product Portfolio
  - 20.3.13.3. Sales Footprint
  - 20.3.13.4. Key Developments
  - 20.3.13.5. Strategy Overview
- 20.3.14. Orzaks Ilac ve Kimya Sanayi
  - 20.3.14.1. Overview
  - 20.3.14.2. Product Portfolio
  - 20.3.14.3. Sales Footprint
  - 20.3.14.4. Key Developments
  - 20.3.14.5. Strategy Overview
- 20.3.15. Qingdao Kangjing Marine Biotechnology Co. Ltd.
  - 20.3.15.1. Overview
  - 20.3.15.2. Product Portfolio
  - 20.3.15.3. Sales Footprint
  - 20.3.15.4. Key Developments
  - 20.3.15.5. Strategy Overview
- 20.3.16. Reckitt Benckiser Group Plc
  - 20.3.16.1. Overview
  - 20.3.16.2. Product Portfolio
  - 20.3.16.3. Sales Footprint
  - 20.3.16.4. Key Developments
  - 20.3.16.5. Strategy Overview
- 20.3.17. Rimfrost AS
  - 20.3.17.1. Overview
  - 20.3.17.2. Product Portfolio
  - 20.3.17.3. Sales Footprint
  - 20.3.17.4. Key Developments
  - 20.3.17.5. Strategy Overview
- 20.3.18. Viva Naturals
  - 20.3.18.1. Overview
  - 20.3.18.2. Product Portfolio
  - 20.3.18.3. Sales Footprint
  - 20.3.18.4. Key Developments
  - 20.3.18.5. Strategy Overview
- 20.3.19. Xi'an Prius Biological Engineering Co. Ltd.
  - 20.3.19.1. Overview
  - 20.3.19.2. Product Portfolio
  - 20.3.19.3. Sales Footprint
  - 20.3.19.4. Key Developments
  - 20.3.19.5. Strategy Overview
- 20.3.20. Xi'an Sost Biotech Co. Ltd.
  - 20.3.20.1. Overview
  - 20.3.20.2. Product Portfolio
  - 20.3.20.3. Sales Footprint
  - 20.3.20.4. Key Developments
  - 20.3.20.5. Strategy Overview