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2021
Krill Oil Market

Krill Oil Market by Form {Liquid and Tablets (Soft Gel and Capsules)} and Application (Dietary Supplements, Functional Food & Beverages, Pharmaceuticals, Pet Food & Animal Feed, Infant Formula, and Others): Global Opportunity Analysis and Industry Forecast,2021-2027

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Dec 2021 | 1055 Views
   
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COVID-19

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Krill oil is obtained from a tiny,transparent marine animal living at the bottom of the sea.Seafood is a rich source of nutrients,hence, krill oil is included in the dietary supplements .In addition to this,it exhibits high medicinal values and is used for the treatment of severe diseases. Moreover, its is a potential replacement of fish oil. It contains eicosapentaenoic acid (EHA) and docosahexaenoic acid (DHA),the two essential omega-3 fats required for proper functioning of the body.

It is available in the form of liquids and tablets(softgel and capsules).It is expected that the krill oil market will grow at a substantial rate during the forecast period.

Market scope and structure analysis

Report Metric

Details

Market size available for years

2020–2027

Base year considered

2019

Forecast period

2021–2027

Forecast unit

Value ($USD)

Segments covered

Form,Application, and Region

Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and the Rest of Asia-Pacific), and LAMEA (Middle East, Brazil, and the Rest of LAMEA)

Companies covered

  • Neptune Biotech Pvt. Ltd., Aker BioMarine AS, Enzymotec Ltd, Fuji Chemicals, Krill Canada, Rimfrost, Norwegian Fish Oil, DarduckFrd, QuingdaoKangjing Marine Biotechnology Co. Ltd.,andOlympic Seafood AS (RIMFROST AS).

 

Covid-19 scenario analysis

  • The COVID-19 outbreak has negatively impacted the krill oil market.
  • The closure of all the major industries due to lockdown has severely hampered the production.
  • Availability ofpotential and cheap substitutes of krill oil have hampered the market growth.
  • Government has given relaxation to the few essential industries, and krill oil is not considered under essential product,hence, the sales and revenue have been affected drastically.
  • However, the demand is expected to rise significant,if the industrywill diversify online sales and lower the price.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

The major factor propelling the growth of the krill oil market is its premium quality.Along with this, it is a potential substitute for fish oil, as it hascomparativelyless fat,more antioxidants, and is easily absorbed by the body.In addition to this,rise in the number of health-conscious consumers is supporting the market growth.Furthermore, krill oil exhibits various health benefits such as it is a rich source of healthy fats,used in the treatment of inflammation,reduces the chances of bone-related ailments such as arthritis and joint pain, and improves health. Moreover, it helps in reducing the period pain and used in the treatment of premenstrual syndrome,a commonly occurring syndrome during the menstrual cycle.

The major restraints ofthe global krill oil market are high costand side effects by its consumption, including indigestion,nausea,and heartburn,which may vary person-to-person.However,increase in disposable income,continuous research & development,investment in technology & innovation,product standardization,and product branding are strengtheningthe market growth.Using krill oil as a healthy option in food & beverages is creating a large customer base and increasing the revenue.The availability of krill oil in liquid and in the form of tablets is increasing its demand.Furthermore,it is recommended by medical specialists for the treatment of certain diseases.Manufacturers are opting for e-commerce sale in this volatile business environment,which is helping to create transparency about the product.Thus, all these factors are anticipated to significantly contribute toward the growth of the global krill oil market during the forecast period.

 

Key segments covered

Segment

Subsegment

Form

  • Liquid
  •  
  • Tablets (SoftGeland Capsules)

Application

Dietary Supplements

 

Functional Food & Beverages

 

Pharmaceuticals

 

Pet Food &Animal Feed

 

Infant Formula

 

Others

 

Region

 

North America

Europe

Asia-Pacific

LAMEA

 

Key benefits of the report

  • This study presents the analytical depiction of the global krill oil market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global krill oil market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global krill oil market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

Questions answered in the global krill oil market research report:

  • Which are the leading players active in the krill oil market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What future projections would help in taking further strategic steps?

 

 
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