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Report
Krill Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-10-15 I 149 Pages I IMARC Group
Market Overview:
The global krill oil market size reached US$ 631.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,207.7 Million by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028.
Krill, also known as Euphausia superb, refers to tiny, shrimp-like crustaceans that are mostly found in the oceans. The oil extracted from krill is primarily available in the form of liquid, capsules, and soft gels. Being an excellent source of omega-3, krill oil helps in lowering blood pressure levels, maintaining good heart health, reducing cholesterol, and increasing metabolism. It also contains a high amount of astaxanthin which improves immunity and reduces muscle inflammation. As a result, krill oil is widely used in dietary supplements, functional food and beverages, pharmaceuticals, animal feed, etc.
The rising geriatric population coupled with the high prevalence of gastrointestinal disorders is augmenting the demand for krill oil. Additionally, increasing consumer awareness towards health and wellness is also driving the need for dietary supplements. The high consumption of gelatin capsules for ensuring oil-soluble nutrient delivery with minimal gastrointestinal irritation is further proliferating the market. Furthermore, the market is also driven by the growing utilization of krill oil in infant formula due to the presence of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) which enhance infant brain development. Besides this, the prevalent trend of pet humanization and growing concerns towards pet health are also propelling the usage of krill oil in pet food and supplements. Moreover, the rising adoption of krill oil in the pharmaceutical industry based on the high content of omega-3 polyunsaturated fatty acids is also driving the global market. Furthermore, several advancements in the oil extraction technology along with growing cultivation of krill fish across different geographic locations will continue to bolster the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global krill oil market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and application.
Breakup by Product Type:
Liquid
Softgels
Capsules
Breakup by Application:
Dietary Supplements
Animal Feed
Functional Foods and Beverages
Pharmaceuticals
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
Australia
New Zealand
Thailand
Others
Europe
Germany
United Kingdom
Italy
Norway
Poland
Russia
Ukraine
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
GCC Countries
Israel
South Africa
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being 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 and Schiff Nutrition International Inc. (Reckitt Benckiser Group Plc).
Key Questions Answered in This Report:
How has the global krill oil market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global krill oil market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global krill oil industry and who are the key players?
What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 Executive Summary
4 Introduction
4.1Overview
4.2Key Industry Trends
5 Global Krill Oil Market
5.1Market Overview
5.2Global Krill Production
5.3Market Performance
5.4Impact of COVID-19
5.5Market Forecast
6 Market Breakup by Product Type
6.1Liquid
6.1.1 Market Trends
6.1.2 Market Forecast
6.2Softgels
6.2.1 Market Trends
6.2.2 Market Forecast
6.3Capsules
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1Dietary Supplements
7.1.1 Market Trends
7.1.2 Market Forecast
7.2Animal Feed
7.2.1 Market Trends
7.2.2 Market Forecast
7.3Functional Foods and Beverages
7.3.1 Market Trends
7.3.2 Market Forecast
7.4Pharmaceuticals
7.4.1 Market Trends
7.4.2 Market Forecast
7.5Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Region
8.1North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2Asia Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 Australia
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 New Zealand
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Thailand
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 United Kingdom
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 Italy
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Norway
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Poland
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Ukraine
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.3.8 Others
8.3.8.1 Market Trends
8.3.8.2 Market Forecast
8.4Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5Middle East and Africa
8.5.1 GCC Countries
8.5.1.1 Market Trends
8.5.1.2 Market Forecast
8.5.2 Israel
8.5.2.1 Market Trends
8.5.2.2 Market Forecast
8.5.3 South Africa
8.5.3.1 Market Trends
8.5.3.2 Market Forecast
8.5.4 Others
8.5.4.1 Market Trends
8.5.4.2 Market Forecast
9 SWOT Analysis
9.1Overview
9.2Strengths
9.3Weaknesses
9.4Opportunities
9.5Threats
10 Value Chain Analysis
10.1Overview
10.2Raw Material Procurement
10.3Manufacturing
10.4Packaging
10.5Marketing and Distribution
10.6Retailers & Exporters
10.7End Users
11 Porters Five Forces Analysis
11.1Overview
11.2Bargaining Power of Buyers
11.3Bargaining Power of Suppliers
11.4Degree of Competition
11.5Threat of New Entrants
11.6Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1Market Structure
13.2Key Players
13.3Profiles of Key Players
13.3.1Aker BioMarine Antartic AS
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.2Coastside Bio Resources
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.3Ergomax B.V.
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.4Krill Canada Sales Corporation
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5Neptune Wellness Solutions Inc.
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6Norwegian Fish Oil AS
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.7NutriGold Inc.
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.8NWC Naturals Inc.
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9Nutracode LLC
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.10Qingdao Kangjing Marine Biotechnology Co. Ltd.
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.11Rimfrost AS
13.3.11.1 Company Overview
13.3.11.2 Product Portfolio
13.3.12Schiff Nutrition International Inc. (Reckitt Benckiser Group Plc)
13.3.12.1 Company Overview
13.3.12.2 Product Portfolio
Figure 1: Global: Krill Oil Market: Major Drivers and Challenges
Figure 2: Global: Krill Market: Production Volume (in Tons), 2017-2022
Figure 3: Global: Krill Oil Market: Sales Value (in Million US$), 2017-2022
Figure 4: Global: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 5: Global: Krill Oil Market: Breakup by Product Type (in %), 2022
Figure 6: Global: Krill Oil Market: Breakup by Application (in %), 2022
Figure 7: Global: Krill Oil Market: Breakup by Region (in %), 2022
Figure 8: Global: Krill Oil (Liquid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Krill Oil (Liquid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Krill Oil (Softgels) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Krill Oil (Softgels) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Krill Oil (Capsules) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Krill Oil (Capsules) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Krill Oil (Dietary Supplements) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Krill Oil (Dietary Supplements) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Krill Oil (Animal Feed) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Krill Oil (Animal Feed) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Krill Oil (Functional Foods and Beverages) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Krill Oil (Functional Foods and Beverages) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Krill Oil (Pharmaceuticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Krill Oil (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Krill Oil (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Krill Oil (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: North America: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: North America: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: United States: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: United States: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Canada: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Canada: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Asia Pacific: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Asia Pacific: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: China: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: China: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Japan: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Japan: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: India: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: India: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Australia: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Australia: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: New Zealand: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: New Zealand: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Thailand: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Thailand: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Others: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Others: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Europe: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Europe: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Germany: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Germany: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: United Kingdom: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: United Kingdom: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Italy: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Italy: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Norway: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Norway: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Poland: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Poland: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Russia: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Russia: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Ukraine: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Ukraine: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Latin America: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Latin America: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Brazil: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Brazil: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Mexico: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Mexico: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Middle East and Africa: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Middle East and Africa: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: GCC Countries: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: GCC Countries: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Israel: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Israel: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: South Africa: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: South Africa: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Others: Krill Oil Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Others: Krill Oil Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Global: Krill Oil Industry: SWOT Analysis
Figure 83: Global: Krill Oil Industry: Value Chain Analysis
Figure 84: Global: Krill Oil Industry: Porter's Five Forces Analysis
Table 1: Global: Krill Oil Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Krill Oil Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 3: Global: Krill Oil Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Krill Oil Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Krill Oil Market: Competitive Structure
Table 6: Global: Krill Oil Market: Key Players
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