Krill Oil Market Growth Trends, Volume Insights and Outlook 2030

Future of Krill Oil Market: Key Dynamics, Size & Share Analysis

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. The market is experiencing growth & expansion, driven by various factors such as the booming food & beverages industry, heightened demand for krill oil in the medical & healthcare sector, increased consumer awareness regarding high-quality nutritional feed products, a surge in demand for food supplements, and the rise in disposable income.

Top Challenges Impacting the Krill Oil Market Growth

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.

Understanding the Core Segments in the Krill Oil Market

Krill Oil Market Size, Share & Industry Trends Analysis- By Form (Liquid, Capsule, Soft gels), By Application (Dietary Supplements, Fortified Food & Beverages, Pharmaceuticals, Animal Feed, Others), By Distribution Channel (Offline, Online), and others.

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Geographical Analysis of the Krill Oil Market

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

The North American region accounted for the largest share of the Krill Oil Market in 2021 and is anticipated to maintain its prominence, contributing significantly to market revenue in the years to come.

Who Dominates the Krill Oil Market Insights on Key Industry Players?

Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d

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 and others.

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