Global Krill Oil Market, By Product Type (Liquid Type, Tablet Type, Soft Gels and Capsules), Application (Dietary Supplements, Pharmaceutical, Pet Food and Animal Food, Functional Food and Beverages and Others), Distribution Channel (Supermarkets/ Hypermarkets, Departmental Store, Pharmacy Store, Online Store and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, 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 of Krill Oil Market
Data Bridge Market Research analyses that the global krill oil market will project a CAGR of 11.70% for the forecast period of 2021-2028. Growth and expansion of the food and beverages industry, surging demand for krill oil by medical and healthcare industry, rising consumer consciousness towards high quality nutritional feed products, rising demand for food supplements and increasing personal disposable income by the major companies are the major factors attributable to the growth of krill oil market.
Krill oil is obtained from krill which is a little crustacean with a shrimp-like look. Krill is basically a source of food for many aquatic animals such as seals, penguins, whales and other. Krill is rich in omega-3 fatty acids. Therefore, krill oil provides a wide range of health benefits such as lowering down the level of cholesterol in the body, reducing the swelling on injured areas, and creating blood platelets. Krill oil enhances the immunity, improves gut functioning and builds strength. It further improves the metabolic activities and reduces the fat deposits in the body.
Rising levels of demand for better nutrition and protein rich food and surge in the awareness about the health benefits of krill oil are the major factors fostering the growth of the krill oil market. Changing lifestyle, growth and expansion of feed industry especially in the developing economies and rising consumer preference for products that are rich in omega-3 fatty acids are other important factors acting as krill oil market growth determinants. Rising expenditure to undertake research and development proficiencies and rising application in infant formula will further induce growth in the krill oil market value.
However, rising penetration of fish oil and fish capsules will pose a major challenge to the growth of the krill oil market. High costs associated with the research and development proficiencies and procedures will also hamper the krill oil market growth rate. Decreasing population of aquatic animals will yet again derail the krill oil market growth rate. Stringent government norms and regulations and expensive nature of krill oil will also act as krill oil market growth restraints.
This krill oil market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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 oil market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Krill Oil Market Scope and Market Size
The krill oil market is segmented on the basis of product type, application and distribution channel. The growth among segments helps you analyse 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 type, the global krill oil market is segmented into liquid type, tablet type, soft gels and capsules.
- On the basis of application, the krill oil market is segmented into dietary supplements, pharmaceutical, pet food and animal food, functional food and beverages and others.
- On the basis of distribution channel, the krill oil market is segmented into supermarkets/ hypermarkets, departmental store, pharmacy store, online store and others.
Krill Oil Market Country Level Analysis
The krill oil market is analyses and market size, volume information is provided by country, product type, application and distribution channel as referenced above.
The countries covered in the krill oil market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, 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).
Europe region dominates the krill oil market and will continue to during the forecast period owing to the increased consumption of products rich in omega-3 fatty acids. Asia-Pacific is set to undergo substantial gains and will score the highest CAGR owing to the growth and expansion of animal feed industry and increasing awareness about the benefits of krill oil.
The country section of the krill oil 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 Oil Market Share Analysis
The krill oil 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 oil market.
The major players covered in the krill oil market report are AKER BIOMARINE., Coastside Bio Resources, Rimfrost AS, NutriGold, Inc., Norwegian Fish Oil AS., NWC Naturals Inc., Qingdao Kangjing Marine Biotechnology Co., Ltd, ConnOils LLC, Viva Naturals., Jedwards International, Inc., Nutracode LLC, Jarrow Formulas, Inc., Neptune Wellness Solutions Inc., International Flavors & Fragrances Inc., Azantis Inc., Olympic Seafood AS, Daeduck FRD, Ergomax, Krill Canada Corporation and RB Health (US) LLC 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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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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