The Global Krill Oil market is majorly driven by health benefits associated with the consumption of omega-3 fatty acid and increasing use of krill oil in food and beverages industry according to our research report “Global Krill Oil Market Outlook 2023”.
Regionally, the krill oil market is segmented into North America, Europe, Asia-Pacific and Rest of World (ROW). Among these, Europe is anticipated to witness a significant growth and occupy the largest share of the krill oil market by 2023.
Global krill oil market is anticipated to reach USD 720 million by 2023, witnessing a compound annual growth rate of 13.2% owing to the increasing health concerns among the consumers and health benefits associated with the consumption of omega-3 fatty acid.
Europe is expected to contribute highest share in revenue of global krill oil market due to highest krill oil harvest units in the region. Asia Pacific is anticipated to witness a compound annual growth rate of 13.1% owing to the increasing use of krill oil in functional food and beverages industry.
Health Benefits Associated with the Consumption of Omega-3 Fatty Acid: Uplift
Rising awareness related to various health benefits such as prevention of heart disease, cholesterol reduction and so much more has increased the demand and consumption of krill oil. Intake of krill oil component (omega-3s) can lead to a lower risk of infant allergy; rising awareness associated with the consumption of krill oil will further boost the demand of krill across the globe.
Increasing Use of Krill Oil in Food and Beverages Industry: Impetus
Krill oil contains fats that reduces swelling, helps to maintain low cholesterol, makes blood platelets less sticky which prevents blood clotting. On the other hand krill oil is beneficial for heart patients, maintain cholesterol level etc. various benefits associated with the consumption of krill oil has increased the use of krill oil in food and beverages industry. This will further propel the growth of market in upcoming 5-6 years.
The report titled “Global Krill Oil Market Outlook 2023” delivers detailed overview of the krill oil in terms of market segmentation by regions, by types, by end use industry applications.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the krill oil industry which includes company profiling of NWC Naturals Inc., Neptune Technologies, Bio-resources Inc., Aker Bio-Marine, Enzymotec Ltd. 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 on 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.
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