According to the current analysis of Reports and Data, the global Krill oil market was valued at USD 445.4 Million in 2020 and is expected to reach USD 1,012.1 Million by the year 2028, at a CAGR of 10.70%. The increasing awareness among consumers of the health benefits of omega-3 fatty acids is a crucial factor for the growth of the krill oil market. Among the regions, China occupied around 1/3rd of the infant formula market in 2016-17, with imported infant formula valued at about USD 2.5 billion annually. The demand for infant milk formula is also expected to grow at a rate of 10%. There is a rising demand for special/premium infant formula products. EPA and DHA are essential for infant brain development and immunity strength. DHA has well-established legal strains for incorporation into infant formula products in different regulations and WHO recommendations. Thus, infant formula holds the major market share for omega-3 consumer products in China.
Krill Oil is derived from small organisms named krill that are small red-colored crustaceans, similar to shrimp, that flourish in extremely cold waters and are mostly found near the Antarctic Ocean. Their survival in such an indifferent environment is attributable to the organism having a high content of long-chain polyunsaturated fatty acids (LCPFAs), including docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) attached to their cell membranes via phospholipids (primarily phosphatidylcholine). This structure provides optimum membrane fluidity in cold temperatures and an ideal source of omega-3 fatty acids.
There has been a recent growth in the consumption of krill oil among the consumers in developed regions such as Europe and North America due to the rising awareness of the importance of omega-3 fatty acids, docosahexaenoic acid (DHA), and eicosapentaenoic acid (EPA) in daily nutritional requirements, which KO provides. The European region accounts for the largest market share of the global krill oil market. Moreover, the German KO market is projected to witness positive growth owing to increasing awareness about fatty acid deficiencies in the region. The German population as a whole does not obtain enough amounts of EPA and DHA owing to the low consumption of particular food products such as fish in the country. However, product innovation and the introduction of krill oil in different product forms are expected to fuel its growth over the coming years. The changing consumer habits and growing knowledge about omega 3 products are likely to drive the demand for this product in this country.
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Further key findings from the report suggest
- Krill is an increasingly crucial source of n-3 PUFAs as Krill oil has high DHA and EPA-containing phospholipids, which might be better bioavailable with some uncertainty. KO has a considerable amount of astaxanthin, an important natural antioxidative component. Moreover, intake of food rich in antioxidants is beneficial to reduce the risk of cardiovascular, high blood pressure, and cancer. KO in animal feeding with a high-fat diet has been demonstrated to improve its dyslipidemia, body weight, and glucose metabolism.
- Supplementation with KO gives the benefit of not only supplying EPA and DHA but also choline, which is a conditionally essential nutrient. Choline is needed in the synthesis of neurotransmitters (acetylcholine) and PLs (PC, lyso-PC, choline plasmalogen and sphingomyelin) and is important in the transport of lipids and reduction of homocysteine.
- Krill oil is an attractive dietary supplement that might help in the maintenance of skin health and treatment of skin disorders by both its omega-3 and phospholipid components. By increasing the amount of omega-3 fatty acids in the body, krill oil has the ability not only to influence skin hydration and elasticity, but also the amount and size of wrinkles.
- Phospholipids (PL) help in mixed micelle formation and enhance lipid absorption. In humans, dietary PLs are hydrolyzed to lyso-PC and free fatty acid (FFA), which are absorbed after binding to albumin or through the enterocytes, a process that increases the delivery of PUFAs to tissues. Furthermore, studies in animals suggest that up to 20% of it may also be absorbed intact, without being first cleaved by phospholipase A2.
- Key participants include Qingdao Kangjing Marine Technology, Enzymotec Ltd., RB LLC, NWC Naturals LLC, Neptune Technologies & Bioresources, Nutrigold Inc., Daeduck FRD Inc., Olympic Seafood AS, Azantis Inc., and Norweigan Fish Oil, among others. Current food and beverage companies are shifting to protect and improve their positions in the market, both through internally driven product development and invention and inorganic development through the procurement of the new disruptor brands and products.
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For the purpose of this report, Reports and Data has segmented the Krill oil market on the basis of product, distribution channel, application, and region:
Product (Revenue, USD Million; 2018–2028, Volume, Tons; 2016-2026)
- Liquids
- Tablets
- Soft Gels
- Capsules
Distribution Channel (Revenue, USD Million; 2018–2028, Volume, Tons; 2016-2026)
- Supermarkets/Hypermarkets
- Departmental Store
- Pharmacy Store
- Online Store
- Others
Application (Revenue, USD Million; 2018–2028, Volume, Tons; 2016-2026)
- Dietary Supplements
- Animal Food & Pet Food
- Functional Food & Beverages
- Pharmaceuticals
- Others
Regional Outlook (Revenue, USD Million; 2018–2028, Volume, Tons; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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