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Krill oil is oil extracted from tiny crustaceans, which are found in all the world's oceans.
These shrimp-like crustaceans make up the largest biomass available on the earth. Euphasia
Superba and Euphasia Pacifica are the two main species used for krill oil extraction. Oil can
be extracted by solvent extraction or solvent-free extraction techniques. Increasing
consumer inclination towards the maintenance of healthy lifestyle through consumption of
omega-3 fatty acids and a nutritious diet is a major trend driving the growth of the krill oil
market.
Currently, the global krill oil market is principally driven by factors such as increasing health
concerns among consumers, product promotions through trade shows, and the introduction
of innovative products with krill oil. However, factors such as high costs, lack of proper
regulations, preference for established fish oils, and lack of consumer awareness about
alternatives to krill oil are expected to restrain market growth. The global krill oil market
revenue is projected to expand at a CAGR of 12.9% from 2015 to 2022, to account for US$
703.0 Mn by 2022.
On the basis of form, the krill oil market has been segmented into liquid and tablets. The
tablets segment is expected to account for highest market share as compared to the other
form segment. Tablets segment is further sub-segmented into soft gels and capsules. Among
the tablet sub-segments, soft gel is expected to account for 69.4% market share by 2015
end, and register a moderate CAGR of 13.4% during the forecast period (20152022). The
capsule sub-segment has been estimated to account for 30.6% market share in 2015.
On the basis of applications, the market is segmented into dietary supplements, functional
food & beverages, pharmaceuticals, pet food & animal feed and others (infant formula). The
dietary supplements segment is expected to account for 40.3% market share by 2015 end.
Revenue from this segment is expected to expand at CAGR of 13.7% during the forecast
The report provides detailed information about the various trends driving the growth of each
segment and offers analysis and insights into the potential of the krill oil market in specific
regions. On the basis of region, the market is segmented into six, namely North America,
Latin America, Eastern Europe, Asia-Pacific and the Middle East & Africa. Among these
regions, the market in Western Europe is expected to remain dominant with an estimated
25.7% share of the global market value by the end of 2015. The market in this region is
expected to register highest CAGR of 14.4% in terms of value during the forecast period.
However, with increasing demand for krill oil in Asia Pacific, this region is expected to
register a CAGR of 13.6%.
Key players in the global krill oil market include Qingdao Kangjing Marine Biotechnology Co.,
Ltd., Enzymotec Ltd., RB LLC., NWC Naturals Inc., NutriGold Inc., Daeduck FRD Inc., Aker
BioMarine SA, Neptune Technologies & Bioressources Inc., and Olympic Seafood AS
(RIMFROST AS).
Softgel
Capsules
Dietary Supplements
Pharmaceuticals
By Region
North America
Latin America
Western Europe
Eastern Europe
Asia Pacific
Market History:
The global krill oil market is experiencing rapid growth owing to increasing health awareness
among consumers. Awareness regarding the benefits of omega-3 fatty acids,
eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) is increasing globally.
In terms of value, the global krill oil market was valued at US$ 267.7 Mn in 2014 and is
expected to reach a value of US$ 703.0 Mn by 2022, expanding at a CAGR of 12.9% during
the forecast period (2015-2022). Rising adoption of fish oil alternatives is driving overall
market growth. Initially, fish oil was only consumed on doctor recommendation but has been
increasing in recent years owing to growing awareness regarding the health benefits. This is
turn is fuelling the demand for krill oil supplements.
On the basis of form, the market is segmented into liquids and tablets. In 2014, the liquid
segment was valued at US$ 102.6 Mn and has been estimated to account for US$ 115.0 Mn
On the basis of application, the market is segmented into dietary supplements, functional
food & beverages, pharmaceuticals, pet food & animal feed and others (infant formula). In
2014, the dietary supplements segment was valued at US$ 107.1 Mn and is expected to
reach US$ 297.2 Mn by the end of 2022. The segment is expected to register highest CAGR
of 13.7% during the forecast period. The functional food & beverages segment is expected
to register the CAGR of 13.1% during the forecast period, followed by others segment with
12.9%.
Key players in the global krill oil market include Qingdao Kangjing Marine Biotechnology Co.,
Ltd., Enzymotec Ltd., RB LLC., NWC Naturals Inc., NutriGold Inc., Daeduck FRD Inc., Aker
BioMarine SA, Neptune Technologies & Bioressources Inc., and Olympic Seafood AS
(RIMFROST AS).
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