Krill Oil Market to Grow by a CAGR of ~16% By 2031

Research Nester published a report titled “Krill Oil Market”: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global krill oil marketin terms of market segmentation by form, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global krill oil market is anticipated to grow with a CAGR of ~16% over the forecast period, i.e., 2022 – 2031. The market is segmented by application into dietary supplements, pharmaceuticals, infant formula, and others. Amongst these, the dietary supplements segment is anticipated to grow at the highest rate during the forecast period owing to the rising awareness in people for the essential nutrients to keep themselves fit and healthy.

The global krill oil market is estimated to significantly grow owing to the growing prevalence of dysmenorrhea in teenagers, growing occurrences of digestive diseases, rising incidences of stress and anxiety as anxiety and stress leads to so many severe issues related to mental health. Besides this, growing prevalence of Arthritis is also expected to significantly drive the growth of the market during the forecast period. Omega-3 fatty acid is a dietary element which is vital for proper body functioning. Therefore, cumulative attentiveness about the countless health benefits of omega-3 fatty acids associated with bone health, and aging are projected to lead the growth of the global krill oil market.

Regionally, the global krill oil market is segmented into five major regions comprising of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the North America region is estimated to witness significant growth over the forecast period owing to the rising awareness in people for good health in the region. Moreover, growing healthcare sector in the developed countries is further anticipated to boost the market growth.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Increasing Awareness in Geriatric Population Regarding the Numerous Health Benefits of Omega-3 Fatty Acids to boost the Market Growth

The World Health Organization (WHO) reported that, the number of people aged 60 and above reached 1 billion in 2019. As of 2030, this number is estimated to rise to 1.4 billion, followed by 2.1 billion by 2050.

The accelerated aging of the world’s populations brings an unexpected number of challenges, including mounting disease burdens and elevated health-care spending. Rising aging population have been dealing with various health problems related to bones, joints, CVDs and so on. As a result, people are adding sufficient quantity of essential DHA, nutrients, and fatty acids, to aid stay healthy and deal with these health issues. Such factors are estimated to boost the market growth.

However, side-effects associated with the consumption of krill oil, Excessive prices of krill oil products, and lack of proper guideline are expected to operate as key restraint to the growth of global krill oil market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global krill oil market which includes company profiling of Rimfrost AS, Neptune Wellness Solutions Inc., Aker BioMarine ASA, NutriGold, Inc., NWC Naturals Inc., Qingdao Kangjing Marine Biotechnology Co., Ltd, Jarrow Formulas, Inc., Viva Naturals Inc., Biocorp Co., Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global krill oil market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.