The global krill oil market size is expected to reach US$ 2,309.3 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 13.1% CAGR between 2019 and 2029. According to the report, the rising demand for healthier foods with better nutritional value will stoke growth of the market. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the krill oil market. Some of these are:
- The estimated value of the market was at 674.3 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Regionally, North America emerged as a key market for krill oils.
- Latin America and Europe will remain steady as key markets for krill oils.
- In terms of end use, dietary supplements and functional food and beverages are key segments in the market.
- Key players are likely to focus on product development to stay relevant in developed markets.
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“Krill oil is likely to appeal younger generation more since they have better access to information via internet. Their inclination towards maintaining a healthy diet plan will tip scales in favour of the krill oil market,” said a lead analyst at FMI
With Buyers Inclining Towards Food with Higher Nutritional Value, Krill Oil Sales Likely to Soar
Focusing on health was never more imperative than now. With the incidence of chronic diseases increasing uncontrollably, our poor lifestyle choices has come under scanner. Consumers are therefore more willing than ever before to spend on food that offer higher nutritional value. Their preferences are aided by the rising income, especially in case of urban population. Spurred by ongoing trends, the global krill oil market is expected to clock impressive growth over the forecast period.
Who is Winning?
Some of the leading players operating in the krill oil market are Neptune Biotech, Aker BioMarine AS, Enzymotec Ltd., Alpha B&H Co., Ltd., Fuji Chemicals, Krill Canada, Rimfrost AS, Norwegian Fish Oil AS, Quingdao Kangjing Marine Biotechnology Co. Ltd., Nutrifynn Caps, Inc., Xi’an prius biological engineering Co., Ltd., Vestige Marketing Private Limited, Trophic Canada, Neptune Wellness Solutions, NutriGold Inc. and others.
Companies operating in the krill oil market are focusing on the introduction of various types of products to cater to a more widespread demography of consumers. However, krill oil market is highly regulated, which often restricts the quantity of krill fish that fisher man catch in a year.
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Get Valuable Insights into Krill Oil Market
Future Market Insights, in its new report, presents an unbiased analysis of the global krill oil market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. In terms of for, the market can be segmented into capsules, liquid, and soft gels. By end use, the market covers dietary supplements, functional food and beverages, pharmaceuticals, pet food and animal feeds, and others. Regionally, the market can be segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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