Global Krill Fishery Market, By Product (Krill Oil, Krill Meal, Krill Pet Food), Species (Euphausia Superba, Euphausia Pacificia), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Krill Fishery Market
The krill fishery market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 5.20% in the forecast period of 2021 to 2028 and is expected to reach USD 555.94 billion by 2028. The growth in awareness regarding the benefits associated with krill products among population across the globe is escalating the krill fishery market.
The increase in the prevalence of life threatening and gastrointestinal diseases and the rising awareness among people about the benefits of krill products including presence of omega 3 for humans as well as pets are the major factors driving the krill fishery market. The growing geriatric population, presence of hypertension and unhealthy lifestyle preferences of people coupled with the advancements in the krill fishery market to enhance the products benefits influence the krill fishery market. The high utilization of krill oil in infant formula owning to the presence of eicosapentaenoic corrosive (EPA) and docosahexaenoic corrosive (DHA) helping in developing the mental health of new born babies and the growth in popularity of tablets and capsules made by krill oil for sports nutrition products and skin health products accelerate the krill fishery market growth. Additionally, the extensive use of the krill in functional food and beverages, increase in demand from pet and animal feed sector and the expansion of food, rise in food expenditure, rapid urbanization and expansion of food and beverage industry positively affect the krill fishery market. Furthermore, product innovations, rising demand for pet food products and sustainability in krill harvesting extend profitable opportunities to the krill fishery market players in the forecast period of 2021 to 2028.
On the other hand, the high production cost because of the various processes such as extraction, oil filtration, separation and refining which leads to high product cost in the market is the factor expected to obstruct the krill fishery market growth. The impact of COVID-19 in the production and distribution levels of the product is projected to challenge the krill fishery market in the forecast period of 2021 to 2028.
This krill fishery market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on krill fishery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Krill Fishery Market Scope and Market Size
The krill fishery market is segmented on the basis of product and species. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the krill fishery market is segmented into krill oil, krill meal and krill pet food.
- On the basis of species, the krill fishery market is segmented into euphausia superba and euphausia pacificia.
Global Krill Fishery Market Country Level Analysis
The krill fishery market is analyzed and market size, volume information is provided by country, product and species as referenced above.
The countries covered in the global krill fishery market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the krill fishery market because of the high use in the supplement and functional foods, pharmaceuticals and infant formulas, launch of new product types of dietary supplements, increase in demand for the product from functional food and beverage sector and inclination of consumers towards fitness. Asia-Pacific is expected to witness the significant CAGR during the forecast period of 2021-2028 because of the rise in demand for omega 3 products, growth in health and wellness awareness among population, increasing cultivation of krill fish, utilization of krill oil in the pharmaceutical sector, advancement in medication especially for elderly people and penetration of krill oil in the daily diet in the region.
The country section of the krill fishery market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Krill Fishery Market Share Analysis
The krill fishery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to krill fishery market.
The major players covered in the krill fishery market report are Superba Krill, ConnOils LLC, Orochem Technologies Inc., NutraCode LLC, Jedwards International, Inc., Omega Protein Corporation, China National Fisheries (Group) Corporation, ALFA LAVAL, AKER BIOMARINE ANTARCTIC AS, Schiff Vitamins, neptunecorp, Norwegian Fish Oil AS, NutriGold, RIMFROST AS, Qingdao Kangjing Marine Biotechnology Co., Ltd, NWC Naturals Inc., Ergomax, Daeduck FRD Inc., Enzymotec Ltd, Olympic Seafood AS among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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