At a CAGR of 11.4%, the global krill oil market share is expected to surpass $474.0 million by 2028: Polaris Market Research

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According to the research report, the global krill oil market size and share was valued at USD 235.8 Million in 2020 and is projected to reach USD 474.0 Million by 2028, growing at a CAGR of 11 .4% over the forecast period.

According to the research report, the global krill oil market size and share was valued at USD 235.8 million in 2020 and is expected to reach $474.0 million by 2028to grow to a 11.4% CAGR during the forecast period.

Krill is a minute crustacean with a similar impression to shrimp. They are discovered in the colder waters of the ocean. Krill basically finds use as a food source in other marine animals, namely seals, whales, fish, squid, and penguins. Krill is located in the oceans of Canada, Antarctica and Japan. There is controversy surrounding the commercial harvesting of krill. Harvesting krill to use krill oil supplements could intimidate species it consumes for food, including whales. All of the krill oil sold in nutritional supplements is harvested from the breaking ocean, upsetting the natural balance in the food supply of larger marine animals.

Krill contains a homogeneous oil in the oils found in omega 3 fatty acids and fish oils. Omega 3 fatty acids are advocated for use in lowering triglyceride levels. Krill oil is used as an additive to lower blood lipids. Unlike fish oil, the omega 3 fatty acids in krill oil are absorbed and moved to the cells of the body as phospholipids. Omega 3 fatty acids, along with exercise and diet, work by decreasing the body’s production of bad low-density lipoprotein (LDL) triglycerides and can elevate good high-density lipoprotein (HDL) cholesterol. ).

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Important Questions Answered by the Market Report

  • What is the size and growth of the market?
  • Who are the key players or companies in the Krill Oil Market?
  • What are the recent innovations in the krill oil market?
  • Is there a likelihood of change in market structure over time?
  • Are significant vendors pursuing a partnership to expand their business in the context of product and geography?
  • Are additional developments needed for current product or service offerings, or do existing products meet customer demands?

Main market players:

  • Aker BioMarine Ergomax
  • Neptune Wellness Solutions Inc
  • Norwegian fish oil AS
  • nutracode
  • NutriGold Inc.
  • NWC Naturals Inc.
  • Qingdao Kangjing Marine Biotechnology Co. LTD.
  • Rimfrost AS
  • Schiff Nutrition International Inc.

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Krill Oil Market: Growth Factors

Nutrients are essential for the well-being of human health. Due to changes in lifestyle and dietary habits, consumers around the world are not meeting approved nutrient intake levels. The influence of low nutrient intake is a significant public health concern, leading to susceptibility to disease and infection. This advent of disease has led to an increasing consumption of dietary supplements to support overall health. Krill oil is one of the main components of many people’s healthy lifestyle because it provides the necessary omega 3 fatty acids. Krill oil products are marketed as healthy foods due to their high protein content and nutritional value and are available as capsules, tablets, powder and krill oil liquid. krill.

The global krill oil industry is expected to grow in the coming years. A growing number of krill oil users in various sectors could be largely linked to the rise of the market. The market for pharmaceuticals and functional foods and beverages is approaching to observe an increase in the consumption of krill oil. The market will benefit from the growing demand for sports supplements and the growing awareness of gastrointestinal health. In addition, the market will apparently benefit from the increase in the number of pet owners and the increase in the purchasing power of pet owners. They are heavily dependent on spending on marine oils like krill oil which is included in pet food. For a variety of purposes, krill oil is used in the supplement, pharmaceutical, and food industries.

When covid-19 hit, shellfish and fresh fish supply chains were severely disrupted by the closure of food processing units. The closure of world markets, for example restaurants, hotels and canteens, resulted from the dependence of fish products on international trade.

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Krill Oil Market: Scope of the Report

Report attribute

Details

Market Size Value 2020

$235.8 million

Market Outlook for 2028

$474.0 million

Expected CAGR Growth

11.4% from 2021 to 2028

base year

2020

Forecast period

2021 – 2028

Segments Covered

By product, by application, by region

Key companies

Aker BioMarine Ergomax, Neptune Wellness Solutions Inc, Norwegian Fish Oil AS, Nutracode, NutriGold Inc., NWC Naturals Inc., Qingdao Kangjing Marine Biotechnology Co., LTD., Rimfrost AS, Schiff Nutrition International, Inc.

Regional scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Personalization options

Custom purchase options are available to meet your research needs.

Krill Oil Market: Key Segmentation

  • Overview by product, application and region

By product, liquid krill oil dominates the market as it is ideal for infant and pet food nutrition. By application, increased intake of omega 3 polyunsaturated fatty acids in functional foods and pharmaceuticals is expected to drive demand due to growing chronic disease and healthcare awareness.

By region, North America emerged as a region for a significant share of revenue. Some of the major application segments in this field are infant formula, supplements, functional foods, and pharmaceuticals. Growing consumer inclination towards physical fitness in Canada, Mexico and the United States is expected to drive product demand in available food and beverage applications. Additionally, increasing health benefits and launching new configuration of dietary supplement products are expected to improve the krill oil market in North America over the coming years.

Browse all “Krill Oil Market Share, Size, Trends, Industry Analysis Report, By Application (Dietary Supplements, Animal Feeds, Functional Foods & Beverages, Pharmaceuticals, Others); By product; By region; Sector forecasts, 2021 – 2028 » Report to https://www.polarismarketresearch.com/industry-analysis/krill-oil-market

Report Highlights

  • Krill Oil Market Supply and Demand Status
  • Factors impacting the krill oil market in the long and short term
  • Dynamics involves constraints, drivers, opportunities, political, socio-economic and technological factors
  • Main trends and perspectives
  • Dominant Companies Operating in the Krill Oil Market and Competitive Position

Market mainly depends on product, application and region

Krill Oil Market: By Product

  • Liquids
  • capsules
  • capsules

Krill Oil Market: By Application

  • Food supplements
  • animal feed
  • Functional foods and beverages
  • Medications
  • Other Apps

About Us:

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