Global Krill Oil Supplements Market

Krill Oil Supplements Market Size, Share, Growth Analysis, By Product(Liquids, softgels and capsules), By Application(Dietary supplements, animal feed) - Industry Forecast 2024-2031

Report ID: SQMIG30L2205 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 63 | Figures: 75

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Krill Oil Supplements Market size was valued at USD 915.95 Million in 2022 and is poised to grow from USD 1014.87 Million in 2023 to USD 2305.31 Million by 2031, at a CAGR of 1O.8% during the forecast period (2024-2031).

Krill Oil Supplements Market is characterized by intense competition among major players, which is driven by product innovation, pricing strategies, and mergers & acquisitions. The market is expected to witness an increase in strategic collaborations and partnerships between manufacturers and retailers to expand their market reach and distribution networks. In addition, the market is expected to witness an increase in mergers and acquisitions as major players look to gain a larger market share and diversify their product portfolios. 'Aker BioMarine (Norway)', 'Neptune Wellness Solutions Inc. (Canada)', 'Enzymotec Ltd. (Israel)', 'RB LLC. (UK)', 'NutriGold Inc. (US)', 'NWC Naturals Inc. (US)', 'Daeduck FRD Inc. (South Korea)', 'Qingdao Kangjing Marine Biotechnology Co., Ltd. (China)', 'Azantis Inc. (US)', 'Natural Health International (South Africa)', 'Source Naturals (US)', 'Everest Nutrition (US)', 'Nutrilite (US)', 'Golden Omega S.A. (Chile)', 'Solal Technologies (South Africa)', 'Acasti Pharma (Canada)', 'Bio-marine Ingredients Ireland Ltd. (Ireland)', 'Xsto Solutions LLC. (US)', 'Rimfrost AS (Norway)', 'Nutra-Life Health & Fitness Pvt. Ltd. (New Zealand)'

There is a rising trend among consumers towards adopting a healthy lifestyle, which has led to an increased demand for natural dietary supplements. Krill oil supplements are considered a rich source of omega-3 fatty acids, phospholipids, and astaxanthin, which have various health benefits, such as reducing inflammation, improving heart health, and enhancing brain function. As a result, the growing health consciousness among consumers is driving the demand for krill oil supplements.

Increasing popularity of vegan and plant-based krill oil supplements: There is a growing trend among consumers towards adopting vegan and plant-based diets. As a result, manufacturers are developing vegan and plant-based krill oil supplements using alternative sources, such as algae and seaweed, to cater to this growing demand.

North America held the largest market share of 37.4% in 2021, with key application sectors including pharmaceuticals, infant formula, and supplemental & functional foods. The demand for krill oil supplements in North America is expected to increase due to expanding health benefits and the introduction of various dietary supplement product forms. Rising fitness preferences among consumers in the U.S., Canada, Mexico, and Canada are expected to drive demand for functional food and beverage applications.

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Global Krill Oil Supplements Market

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