The global market for krill oil is estimated to have a significant CAGR of around 10.8% during the forecast period. Krill oil is also an important alternative to fish oil and extracted from Antarctic krill species. Krill is a source of EPA and DHA. Fats found in krill oil makes easier for the body to use compared to the fish oil as most of the omega 3 fats in fish oil are stored in the triglycerides form. Krill oil may be highly efficient for fight against inflammation rather than other marine omega-3 sources. It contains astaxanthin, a pink-orange pigment that have anti-oxidant and anti-inflammatory effects. It is generally used for high cholesterol and heart disease. However, limited researches were reported to support such uses. The market is mainly driven due to various health benefits, growing awareness for nutritional foods across the globe.

 Segmental Outlook  

The global market for krill oil is classified on the basis of product type and application. Based on the product type, the market is further classified into capsules, softgels, and liquids. The capsules segment are projected to have considerable share in the global market. The dietary supplements capsules are primarily used as a dosage form as they are available in a range of sizes and thereby offer various dosing options flexibility to the manufacturers. Other benefits of capsules over tablets include ease of formulation and handling, availability in several sizes, and attractive color options. Owing to the increasing focus towards making supplements highly effective, the manufacturers are using capsules as a dosage form, which in turn, is contributing to the significant share of capsules as a dosage form in dietary supplements. Based on the application, the global krill oil market is further segmented into functional food and beverages, dietary supplements, pharmaceuticals, others.

Global krill oil Market Share by Application, 2018(%)

Global krill oil market to be driven by Functional Dietary Supplements Application

The dietary supplements segment held a considerable share in the market owing growing application krill oil in for diet due to various health benefits. Dietary supplements contain certain type of micronutrients such as vitamins, zinc, and antioxidants, which significantly slows down the progression of age-related macular degeneration (AMD) in people, which are at high risk of attaining diseases. The daily consumption of supplements having krill oil significantly reduce the level of blood triglyceride and influence glucose homeostasis. The Federal Government’s Dietary Guidelines 2015–2020, for the US population, states that an adult must intake more than eight ounces per week of a variety of seafood such as fish or shellfish. Therefore growing awareness towards intake of dietary supplements for health concern further propels the segmental growth  

Regional Outlook 

Geographically, the global krill oil market is further classified into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific is estimated to have considerable market growth in the global market during the forecast period. The market growth in the region is increasing awareness towards nutritional health benefits in emerging economies. The major countries which will have a significant market share during the forecast period are India, China, and Japan. Apart from these nations, South Korea and Singapore are some of the other major economies that contribute in the growth of the market. 

Global krill oil Market Growth, by Region 2019-2025

North America to hold a considerable share in the global krill oil market

Geographically, North America is projected to hold a significant market share in the global krill oil market.  Major economies which are anticipated to contribute to the North America krill oil market are the US and Canada. Increasing adoption of the omega-3 fatty acids in the field of functional foods has been propelling the market growth in the region. Moreover, the emerging applications of omega-3 fatty acids in untapped market across pharmaceutical sector have been the major reason for this market growth. The US is one of the key markets in North America owing to increasing consumption of krill oil in numerous applications. Moreover, Canada is also implementing health measures in the country, so as to increase the awareness for the critical diseases. This is expected to increase the opportunities for the augmentation of the market in the near future.

Market Players Outlook

The key players in the krill oil market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Arista Industries Inc, Aker Biomarine Antarctic AS, Coastside Bio Resources, NutriGold Inc., BASF SE, Rimfrost AS and others. These market players adopt various strategies such as product launch, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. 

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global krill oil market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.