Krill Oil Supplements Market to Grow with a CAGR of 7.42% through 2031
Increasing scientific research highlighting the health
benefits of krill oil, and sustainable fishing practices are expected to drive
the Global Krill Oil Supplements Market growth in the forecast period, 2021-2031F
According to TechSci Research report, “Krill Oil Supplements Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2021-2031F”, The Global Krill Oil Supplements Market will grow from USD 0.95 billion in 2025 to USD 1.46 billion by 2031 at a 7.42% CAGR. This can be attributed to the expansion of distribution channels. The availability of krill oil supplements has increased significantly
through diverse distribution channels. While these products were traditionally
found in health food stores, they are now readily available online through
e-commerce platforms. This expanded accessibility has enabled consumers worldwide to conveniently explore and purchase krill oil supplements, further
boosting market growth.
Moreover, transparency in sourcing, processing, and
labeling will be paramount. Manufacturers will invest in initiatives to provide
consumers with clear and detailed information about the origin of their krill
oil supplements and the sustainable practices employed. Furthermore, consumer
education efforts will intensify, helping individuals make informed decisions
about their dietary supplement choices.
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The market's expansion can be attributed to rising health consciousness among consumers in countries such as India, China, and the United States, as well as to an aging population, particularly in developed economies such as France, Japan, Germany, and the United Kingdom. This
heightened awareness is expected to drive demand for nutrient-dense foods and beverages, thereby contributing to market growth. During the COVID-19 pandemic,
supply chains for shellfish and fresh fish were severely disrupted by the closure of food-processing facilities. Fish and fish products that heavily relied on
international trade faced challenges due to restrictions and market closures
early in the pandemic. However, demand for these supplements remained unaffected, as there was a stronger emphasis on health-conscious
products. Consequently, manufacturers experienced higher demand for these
supplements than they could supply. With the easing of trade restrictions, a
growing market for supplements is emerging across industries such as pharmaceuticals, animal feed, and dietary supplements, which is expected to drive growth during the forecast period.
In the United States, one of the leading markets for this product in North America, increasing consumer awareness of the benefits of krill oil relative to fish oil has positively
influenced market growth. Additionally, the preference for krill oil
supplementation over fish intake is associated with health benefits. Among
product segments, capsules are projected to experience the highest growth rate
due to the rising consumption of nutritious health supplements among consumers
in the country. This growth is attributed to capsule properties, such as ease of swallowing, lack of taste and odor, and faster onset of action compared with tablets.
The market is driven by growing consumer awareness of the benefits of eicosapentaenoic (EPA) and docosahexaenoic acid (DHA) omega-3 fatty acids. The increased emphasis on researching the medical benefits of krill oil will further benefit the
market. For example, krill oil has been found to reduce inflammation, enhance
neurological development in newborns, and promote cardiovascular health, all of
which are expected to increase demand for the product during the forecast period.
The Global Krill Oil Supplements Market is segmented
into product, application, distribution channel, regional distribution, and
company.
Based on its distribution channel, the supermarkets
and hypermarkets category secured the largest market share in 2022 and is
poised to maintain its dominant position in the foreseeable future. Various
supermarkets and hypermarkets, including but not limited to Walmart, Tesco,
Target Brands Inc, Sainsbury’s, and Asda, offer unique supplements to attract a
broader consumer base. In recent years, increased investment in product research and development, along with the growing trend of supplements incorporating Omega-3s and antioxidants to support overall health, have prompted manufacturers to introduce new products through major supermarkets. This
has been instrumental in driving growth in this segment.
Based on region, North America held the largest market
share. Within this region, key sectors such as pharmaceuticals, infant formula,
and supplemental and functional foods played a significant role. The demand for
krill oil in functional food and beverage applications is expected to increase
due to the growing emphasis on fitness among consumers in the United States, Canada, and Mexico. Furthermore, the North American
market for krill oil supplements is poised to grow in the coming years, driven by increasing awareness of its health benefits and the introduction of various dietary supplement forms.
Meanwhile, the Asia-Pacific region is expected to exhibit a high CAGR. In China, krill oil as a dietary supplement has
gained popularity among middle-aged consumers for its purported benefits for eye
and immune health. The rising demand for supplements in countries such as
India, China, Singapore, South Korea, Japan, and Australia has contributed to
the growth of omega-3 consumption in the Asia-Pacific region. The increasing inclusion of
krill oil in daily diets and heightened consumer awareness of health issues are driving this demand. Additionally, the cultivation of krill is expected to continue to expand in the Indian Ocean and the South China Sea
in the coming years. Moreover, the increasing use of krill oil in the pharmaceutical industry, coupled with expanding research and development activities in the region, is expected to drive market growth.
Major companies operating in
Global Krill Oil Supplements Market are:
- Aker BioMarine ASA
- Neptune Wellness Solutions Inc.
- Rimfrost As
- Schiff Nutrition International Inc
- Norwegian Fish Oil AS.
- Qingdao New Life Biotechnology Co Ltd
- NWC Naturals Inc.
- Nutracode LLC
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“The global krill oil supplements market is poised for
exciting developments in the coming years. Sustainability, innovative
formulations, enhanced bioavailability, personalized nutrition, and expanded
distribution channels will drive growth. Transparency and consumer education
will remain crucial, and ongoing research will continue to unveil the
impressive health benefits of krill oil. As these trends converge, the krill
oil supplements market promises to offer a broader range of options to
health-conscious consumers seeking holistic well-being,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Krill Oil Supplements Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Liquids, Softgels, Capsules), By Application (Dietary Supplements, Animal Feed, Functional Food & Beverages, Pharmaceuticals, Others), By Distribution Channel (Supermarkets/Hypermarkets, Drug Stores & Pharmacies, Online Retailers, Others), By Region, By Competition Forecast & Opportunities, 2021-2031F”, has evaluated the future growth potential of Global
Krill Oil Supplements Market and provides statistics & information on
market size, structure and future market growth. The report aims to provide cutting-edge market intelligence and help decision-makers make sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Krill Oil
Supplements Market.
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