The global krill oil market was valued at USD 705.13 Million in 2023. The industry is expected to expand at a CAGR of 11.40% during the forecast period of 2024-2032 to attain a value of USD 1863.10 Million by 2032. Increased awareness and recognition of the health benefits offered by omega-3 fatty acids are fuelling krill oil sales. Its superior bioavailability, anti-inflammatory properties, and applications in dietary supplements, functional foods, and pharmaceutical boost its demand in the global market.
Base Year
Historical Year
Forecast Year
Value in USD Million
2024-2032
Krill Oil Market Outlook
*this image is indicative*
The global krill oil market is growing significantly because of its various health benefits, mainly in heart health, joint function, and cognitive support. Krill oil, rich in omega-3 fatty acids, phospholipids, and antioxidants like astaxanthin, is increasingly being used in dietary supplements and functional foods.
Increased demand for natural and sustainable ingredients is driving krill oil market expansion, given that krill oil is believed to be more bioavailable than any other source of omega-3. Further, use in cosmetics related to skin health and anti-aging is growing. As consumer knowledge of health and wellness grows, so does the krill oil market.
The pet care industry is seeing a rising demand for functional nutrition products intended to improve pet health. Krill oil, with its content of omega-3 fatty acids, including EPA and DHA, contributes to maintaining pet cardiovascular health, joint mobility, and skin condition. The rise in demand for premium supplements by pet owners also boosts the growth of krill oil in pet food formulations. Companies such as Aker BioMarine offer krill oil-based animal supplements, which cater for this niche market.
Krill oil is an extract that is derived from a tiny, shrimp-like marine species, known as Antarctic Krill, whose scientific name is Euphausia Superba. Krill contains oil that is like fish oils and is rich in Omega-3 fatty acids, eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA). Omega-3 is very good for the body as it provides energy to the body and helps maintain the health of the heart, blood vessels, lungs, immune system, and endocrine system boosting the krill oil market demand.
The rising awareness about the health benefits of Omega-3 fatty acids is a major driver of the growth of the market. The increase in awareness has also enhanced the demand for krill oil in various sectors. Pharmaceutical and functional food and beverages are increasingly utilising krill oil for various products.
Krill oil is to gain traction as a targeted health supplement for heart health, brain function, and inflammation management. The diet supplement industry is being transformed by personalized nutrition. It aims at offering customized health solutions. Advanced nutrigenomics research in supplement formulations has allowed krill oil to be a prime choice due to its exceptionally high bioavailability and superior phospholipid-based omega-3 absorption. Brands such as Rimfrost and Neptune Wellness Solutions are creating custom krill oil supplements, fueling niche growth in the health and wellness sector.
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Omega-3 demand, sustainability, skincare growth, and pet supplement adoption are key trends driving krill oil.
The demand for omega-3 fatty acids in functional foods is fueling the growth of the krill oil market. Consumers are becoming more knowledgeable about the benefits of omega-3s, including the support of heart health, cognitive function, and reduced inflammation. As awareness of these benefits grows, krill oil, with its high levels of omega-3 fatty acids and better absorption rate than fish oil, is coming into preference. It is entering food products in the form of fortified beverages, snacks, and supplements. This trend is complemented by a growing concern for natural and sustainable ingredient usage in food products as well, thereby propelling the krill oil demand.
Sustainability and ethical sourcing are two major trends in the krill oil market. The more krill oil demand increases, the more focus on sustainable sourcing of krill increases to protect marine ecosystems. In many places, krill fishing is regulated to avoid overfishing, and companies increasingly seek certification from organizations like the Marine Stewardship Council (MSC). Consumers are becoming more aware of the environmental impact of their purchases, and krill oil manufacturers are focusing on eco-friendly practices. This trend is pushing brands to be transparent in sourcing and sustainable in production, which aligns with the growing interest in sustainable, responsibly sourced ingredients.
Krill oil is gaining popularity in the skincare and cosmetics industry due to its antioxidant properties, particularly from astaxanthin, a powerful compound that helps combat oxidative stress and signs of aging. Krill oil's high concentration of omega-3s and its anti-inflammatory benefits make it an attractive ingredient for anti-aging products, moisturizers, and serums. As consumers seek multifunctional beauty products with natural, effective ingredients, krill oil's application in cosmetics is expanding. Formulate new skincare formulations with krill oil and harness its rich skin-nourishing abilities, which shall drive beauty and personal care segment demand up in the coming future, thus boosting the krill oil market revenue.
Krill oil market is witnessing growth through the pet supplements segment primarily due to enhanced pet health awareness and surging requirements for natural supplements of excellent quality. Pet owners are increasingly opting for omega-3-rich supplements to improve their pets’ joint health, coat condition, and cognitive function. Krill oil’s superior bioavailability and higher antioxidant levels compared to fish oil make it a preferred choice in pet supplements. With more veterinarians recommending pets, especially older animals or those with specific health issues, to undergo omega-3 supplementation, the market for krill oil is experiencing increased adoption within the pet health and wellness industry.
The trends in the krill oil market is witnessing a rise with increasing demand from the pharmaceutical and healthcare industries. Being the leading country globally in pharmaceutical sales with 64.4% of global sales, krill oil's popularity can be seen to increase by its health-related benefits, mainly in heart, brain, and joint health. Other strong markets include Europe at 16.8% and Japan at 6.0%; meanwhile, emerging markets provide an opportunity of 9.6%. Increasing investments in health care further aids the trend, as market growth continues especially in developing regions.
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“Krill Oil Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type:
Market Breakup by Application:
Market Breakup by Region:
By Product Type Analysis
Based on product type, the market bifurcations include liquid, soft gels, and capsules. The capsule segment is expected to hold a significant share of the krill oil industry. As per krill oil market analysis, the capsule type of krill oil supplement is experiencing high demand due to the ease of storage and the defined dosage available. The hardened gelatine layer also protects against oxygen. The segment will also grow significantly owing to its comparably higher shelf life.
The liquid segment is expected to grow significantly owing to its faster absorption rate and easy digestibility. The liquid is also easier to swallow when compared to pills, especially among the elderly and young children, who might have difficulty swallowing pills.
Market Analysis by Application
Krill oil is gaining traction across various applications due to its health benefits. Within dietary supplements, its rich content in Omega-3 supports heart, brain, and joint health and contributes to popularity within the product. As per krill oil industry analysis, for animal feed, nutrients from krill oil prove essential for enhancing livestock health and growth in animals. Functional foods and beverages contain krill oil due to their anti-inflammatory properties and nutritional value. The pharmaceutical industry uses krill oil for its curative properties in treating diseases such as arthritis and heart diseases, while cosmetic and skincare applications investigate more possibilities.
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North America Krill Oil Market Opportunities
The need for Omega-3-rich supplements among consumers is driving growth of the krill oil market, especially in North America. Businesses like Aker BioMarine are leveraging the health advantages of krill oil in North America by providing high-quality, sustainable goods. Krill oil is becoming more popular in Europe in functional meals and dietary supplements. As a result of growing knowledge of its advantages and rising disposable incomes in nations like China and India, Asia-Pacific is currently becoming a significant market.
Asia Pacific Krill Oil Market Trends
The Asia Pacific krill oil industry is witnessing high demand due to awareness of health benefits and increased demand for Omega-3 supplements. Countries like China and India are experiencing increased consumption due to the health-conscious nature of customers and increased disposable incomes. The market is also experiencing growth due to the interest of people in sustainable and natural products in the region. The companies targeted the market by launching innovative krill oil-based supplements to ascertain their share of heart, brain, and joint health supplements.
Europe Krill Oil Market Dynamics
The Europe market for krill oil is driven by increasing awareness of health and demand for supplements with Omega-3. According to a European Food Safety Authority report in 2022, Omega-3 fatty acids are necessary to maintain healthy heart functions. This has increased the consumption of krill oil across the region. A rising appreciation for natural, sustainable ingredients is also instrumental in the growth of the European market. Key markets for krill oil supplement demand are Germany, France, and the United Kingdom. Consumers are increasingly turning to krill oil supplements to improve their joint, brain, and heart health.
Middle East and Africa Krill Oil Market Drivers
The Middle East and Africa market for krill oil is driven by rising health consciousness and increasing demand for Omega-3 supplements. As per a 2021 WHO report, the area is witnessing a rise in cardiovascular and joint health issues, driving up the demand for krill oil. Further, the sales of krill oil in regional markets such as South Africa and the UAE are on the up and up as customers opt for natural, sustainable products. Increased disposable income as well as increased access to healthcare drive the adoption of krill oil supplements.
Latin America Krill Oil Market Insights
The Latin America krill oil market is growing with the increasing awareness of health benefits from Omega-3 fatty acids. As per a 2020 market study, Brazil and Mexico are still key markets in the region, with growing consumer preference for natural and sustainable supplements. Krill oil demand grows in dietary supplements and functional foods while seeking solutions for heart, joint, and brain health. Additionally, rising disposable income and improved access to healthcare are driving the market forward.
The krill oil market players are focussing on sustainability and product innovation while trying to expand their market presence. Krill oil companies have streamlined their operations to enhance the bioavailability of krill oil, which in turn increases the absorption rates among consumers. Krill fishing companies have also embraced sustainability, adhering to environmental regulations and catering to growing consumer demand for natural, health-improving supplements, especially heart, brain, and joint health.
NWC Naturals LLC is a 1994 company based in Vancouver, Canada. The company specialises in krill oil-based supplements, with more focus on heart, joint, and brain health. Their products have been particularly known for sustainability and superior absorption.
Established in 2005 and based in Tromsø, Norway, Rimfrost AS produces premium krill oil derived from sustaina...
Founded in the year 2003, Norwegian Fish Oil AS, based in Norway, produces pure and sustainable krill oil supp...
Established in 1999, South Korean company Daeduck FRD operates krill oil-based dietary supplements. As innovat...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other market players in the krill oil market report includes AdvaCare Pharma, and Biocorp Co., Ltd., among others.
Startups in the krill oil market are committed to delivering high-quality, sustainably sourced products that deliver superior bioavailability and health benefits. Their focus is on meeting the ever-growing demand for natural, eco-friendly supplements targeting heart health, cognitive function, joint support, and skin care. Most startups are also looking at innovative delivery formats, like krill oil-infused functional foods.
Kirkman®
Kirkman produces premium krill oil supplements that focus on purity and sustainability. The products range from cardiovascular health to joint support and general wellness through the use of ethically sourced krill.
Krill Life
Krill Life specializes in responsibly sourced, high-quality krill oil supplements. Their offerings target consumers who are in search of natural omega-3s for cognitive health, joint health, skin vitality, and an approach that is also eco-sensitive.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 705.13 Million.
The krill oil market is assessed to grow at a CAGR of 11.40% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 1863.10 Million by 2032.
The market is driven by the growing demand for krill oil, which is supported by the rising health awareness about the benefits of Omega-3 among people around the world.
The rising demand for healthcare products due to the rising prevalence of health disorders and the growing geriatric population who are more susceptible to health disorders can deliver new growth opportunities to the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The market is categorised according to the product type, which includes liquid, soft gels, and capsules.
Based on the application, the market is divided into dietary supplements, animal feed, functional foods and beverages, and pharmaceuticals, among others.
The market key players are NWC Naturals LLC, Rimfrost AS, Norwegian Fish Oil AS, Daeduck FRD, AdvaCare Pharma, and Biocorp Co., Ltd., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
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| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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