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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Krill Oil Market Growth
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 krill oil 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 Market Report Snapshots
*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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Key Questions Answered in the Report
The global market for krill oil reached a size of USD 705.13 million in 2023.
The market is estimated to grow at a CAGR of 11.40% between 2024 and 2032.
The market is expected to reach a value of USD 1,863.12 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.
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