Global Krill Oil Market is valued at approximately USD 740.3 million in 2021 and is anticipated to grow with a healthy growth rate of more than 10.7% over the forecast period 2022-2029. Krill Oil is a dietary supplement sourced from a small shrimp-like crustacean named krill. Krill Oil contains omega-3 fatty acids eicosapentaenoic acid (EHA) and docosahexaenoic acid (DHA), the two essential omega-3 fats required for the efficient functioning of the body. It is available in different formats including tablets, soft gel, and capsules among others. The increasing prevalence of coronary heart disease and growing demand for protein & nutrition-rich foods as well as strategic initiatives from the market players are key factors accelerating the market growth.

The increasing prevalence of coronary heart disease is contributing to the growth of the Global Krill Oil Market. For instance, according to Centers for Disease Control and Prevention estimates - as of 2020, around 20.1 million adults aged 20 and older are affected by coronary heart disease. Additionally, approximately 382,820 individuals lost their lives due to coronary heart disease. Moreover, as per British Heart Foundation (BHF) estimates - in 2021, coronary heart disease (CHD) was estimated as the third highest cause of death, with around 66,000 individuals losing their lives due to CHD in 2021. Also, rising awareness towards the health benefits of Krill Oil and increasing consumption of dietary supplements would create a lucrative growth prospectus for the market over the forecast period. However, high costs associated with Krill Oil and decreasing population of aquatic animals stifle the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Krill Oil Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and increasing consumption of dietary supplements in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising prevalence of coronary heart disease and increasing penetration of leading market players in the region.

Major market players included in this report are:

Aker BioMarine ASA

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.

Recent Developments in the Market:

In July 2020, Epion Brands announced the launch of its new Kori Pure Antarctic Krill Oil product. This new product comes in three soft-gel formats standard, which is 1,200 milligrams, small, which is 600 milligrams, and mini, which is*400*milligrams.
Global Krill Oil Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Product Type, Application, Distribution Channel, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type

Liquid Type

Tablet Type

Soft Gels

Capsules

By Application

Dietary Supplements

Pharmaceutical

Pet Food and Animal Food

Functional Food and Beverages

Others

By Distribution Channel

Supermarkets/ Hypermarkets

Departmental Store

Pharmacy Store

Online Store

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

RoLA

Rest of the World