Krill Oil Market - Forecast(2019 - 2024)

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Krill Oil Market Overview:

According to the results generated in the most recent survey conducted by the World Health Organization (WHO) that were released in 2018, 1.9 billion adults were overweight from which 650 million were obese in 2016. The global obese population has tripled since 1975,[1] and the contemporary lifestyle and the consumption of fatty foods are collectively escalating the figure and making people more susceptible to diseases that are caused by obesity. Krill oil can significantly reduce fat deposits in the body. It also improves metabolic activities and prevents omega 3 deficiency. This happens to be the main reason responsible for the booming krill oil market which had a market size of $430 million as of 2018. Furthermore, the awareness about the health benefits of krill oil is expected to bolster the demand for the same which is estimated to increase with a staggering compound annual growth rate (CAGR) of 13.4% during the forecast period of 2019 to 2025.

 

There is a tangible growth in awareness about the deficiency of fatty acids in people belonging to some parts of Europe, especially Germany. Apparently, the consumers are now opting for healthy dietary supplements such as krill oil that are rich in fatty acids. Veganism is also makings strides in many countries of Europe, and fish consumption has substantially gone downhill due to which many people have low Docosahexaenoic acid (DHA) and Eicosapentaenoic acid (EPA). Krill oil is found to be a supplement for these acids that play an essential role in the body. This is leading to a change in the eating habits of the prospective customers that are now showing a predilection for krill oil which is creating opportunities for the European krill oil manufacturers. In 2018, Europe had the greatest krill oil market share of 35%.       

 

Krill Oil Market Outlook:

Prepared from a species named Euphausia Superba and Euphausia Pacifica that are tiny crustaceans, Krill oil is an extract that is consumed as soft gels or capsules. It finds applications in food, pharmaceuticals, and animal feed. Owing to the health benefits of krill oil, it is more often than used as a dietary supplement which is preferred by a major part of consumers as mentioned above. The application of krill oil as a dietary supplement is projected to observe a healthy CAGR of 13.8% through to 2025.

 

Krill Oil Market Growth Drivers:

·         The Growing Number of Cancer Patients –

According to Cancer Research UK, there were 17 million cases of cancer registered in 2018 with 9.6 million deaths attributable to cancer.[2] The disquieting figures have been a concern to the world, and the healthcare sector is striving to ameliorate the situation. On the other hand, the consumers have also become aware of cancer and eatables that can reduce the vulnerability towards the disease. Krill oil has omega 3 acids in galore which kill the cancer-causing cells and induce apoptosis. This benefit coupled with the easy access of information pertaining to health and wellness which is available on various websites is expanding the krill oil market size by many folds.  

 

·         The Reduction in Inflammation in the Body –

Skincare has become very important to people, especially to the residents of North America and other regions where skin diseases are rampant. According to the American Academy of Dermatology, 50 million Americans are affected by acne. Additionally, other skin diseases such as atopic dermatitis, psoriasis, and rosacea are also prevalent.[3] Krill oil reduces the possibility of inflammation in the body, which, in turn, reduces the susceptibility towards a gamut of skin diseases. Prospective customers are realizing this advantageous feature of krill oil which is opening up the krill oil market revenue avenue for the vendors.

 

·         The Prevalence of Heart Diseases and High Cholesterol –

There is an enormous number of people that suffer from heart conditions in the world, and high cholesterol has become a common problem. Apparently, krill oil reduces blood fats and cholesterol, thereby lessening the chances of heart diseases. This is one of the reasons for the flourishing global krill oil market. 

 

Krill Oil Market Trends :

·         In January 2018, Aker BioMarine acquired Enzymotec’s krill oil business. The acquisition was a part of Frutarom’s merger plan as the company felt that the krill business is not fitting with Enzymotec’s core business goals. However, Aker BioMarine has envisioned to position itself in the krill oil market.

·         In December 2017, Sami Direct had launched Krill C3 Power which is a good source of EPA and DHA and also provides advanced antioxidant support.

·         There is perpetual research on krill oil, and many research firms are finding concrete pieces of evidence for the benefits of krill oil that include its aid in treating colitis, neurological development, and detoxification of the body. Recently, krill oil is also found to be helpful in alleviating Attention Deficit Disorder (ADD) .

 

Krill Oil Market Challenges:

The major challenge faced by the vendors in the krill oil market is due to the fact that the product is expensive, and the target customers are still dithering to purchase it which is reducing the market size. Furthermore, there are shreds of evidence of adulteration in krill oil, and organizations such as Food and Drug Administration (FDA) are investigating the product. This is projected to influence the krill oil market as there will be stringent regulations pertaining to the product. However, the number of people opting for the product is remarkably going uphill, and the vendors are creating a transparent supply chain so that the customers get the pure product.

 

Krill Oil Market Key Players Perspective:

The key players striving to capitalize on the projected demand for krill oil are Aker BioMarine SA, Neptune Technologies & Bioressources Inc., Enzymotec Ltd., Qingdao Kangjing Marine Biotechnology Co., Ltd., Azantis Inc., RB LLC., Olympic Seafood AS, Daeduck FRD Inc., NWC Naturals Inc., and NutriGold Inc.

 

Krill Oil Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the krill oil market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the specific applications of krill oil in food, pharmaceuticals, animal food, dietary supplements, and others.  

 

Krill Oil Market Report: Industry Coverage

The report analyses the product demand of krill oil by packaging that includes bottle, jar, liquid pump, and others; and it also analysis the product by form - liquid, capsule, and others. It also analysis the sales of the products on the basis of distribution channels that include large retailers, online portals, pharmacies, and others.

The krill oil market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

North America: The U.S., Canada, Mexico

South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark

APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

Middle East and Africa: Israel, South Africa, Saudi Arabia

 

Key Questions Addressed in the krill oil Market Report

Is the market demand for krill oil growing? How long will it continue to grow and at what rate?

Which type of home security system presents the major growth opportunities?

Is there a possibility for change in the market structure over time?

Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?

Do the key vendors look for partnerships to expand their businesses with respect to geography or product?

What are the short-term, long-term, and medium-term growth drivers for the market?

What are the short-term, medium-term, and long-term challenges for the market?

What are the short-term, medium-term, and long-term opportunities for the market

Who are the top players/companies of the market?

What are the recent innovations in the market?

How many patents have been filed by the leading players?

What are the types of patents filed by the leading players?

What is our Vision 2030 for the krill oil market?

 

A Few Focus Points Of This Research Are Given Below:

Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies

Provide an overview of the product portfolio, including product planning, development, and positioning

Discuss the role of technology companies in partnerships

Explore the regional sales activities

Analyze the market size and giving the forecast for current and future global krill oil market during the forecast 2019–2025

Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures

References -

[1] https://www.who.int/news-room/fact-sheets/detail/obesity-and-overweight

[2] https://www.cancerresearchuk.org/health-professional/cancer-statistics/worldwide-cancer

[3] https://www.aad.org/media/stats/conditions/skin-conditions-by-the-numbers

1. Krill Oil Market - Overview
1.1. Definitions and Scope
2. Krill Oil Market - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Krill Oil Market 
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis 
4. Krill Oil Market – Startup companies Scenario Premium
4.1. Top 10 startup company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Market Shares
4.1.4. Market Size and Application Analysis
4.1.5. Venture Capital and Funding Scenario
5. Krill Oil Market – Industry Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing business index
5.3. Case studies of successful ventures
5.4. Customer Analysis – Top 10 companies
6. Krill Oil Market Forces
6.1. Drivers
6.2. Constraints
6.3. Challenges
6.4. Porters five force model
6.4.1. Bargaining power of suppliers
6.4.2. Bargaining powers of customers
6.4.3. Threat of new entrants
6.4.4. Rivalry among existing players
6.4.5. Threat of substitutes 
7. Krill Oil Market - Strategic analysis
7.1. Value chain analysis
7.2. Opportunities analysis
7.3. Product life cycle
7.4. Suppliers and distributors Market Share
8. Krill Oil Market – By Packaging (Market Size -$Million / $Billion)
8.1. Market Size and Market Share Analysis 
8.2. Application Revenue and Trend Research
8.3. Product Segment Analysis
8.3.1. Introduction
8.3.2. Bottle
8.3.3. Jar
8.3.4. Liquid Pump
8.3.5. Others
9. Krill Oil Market – By Form (Market Size -$Million / $Billion)
9.1. Liquid
9.2. Capsule
9.3. Others
10. Krill Oil Market – By Distribution Channel (Market Size -$Million / $Billion)
10.1. Large Retailers
10.2. Online Portals
10.3. Pharmacies
10.4. Others
11. Krill Oil Market – By Application (Market Size -$Million / $Billion)
11.1. Food
11.2. Pharmaceuticals
11.2.1. Arthritis
11.2.2. Aging skin
11.2.3. Cholestrol
11.3. Animal Food
11.3.1. Cats & Dogs
11.3.2. Farmed Fish
11.4. Dietary Supplements
11.4.1. Osteoarthritis
11.4.2. Premenstrual Syndrome
11.5. Others
12. Krill Oil - By Geography (Market Size -$Million / $Billion)
12.1. Krill Oil Market - North America Segment Research
12.2. North America Market Research (Million / $Billion)
12.2.1. Segment type Size and Market Size Analysis 
12.2.2. Revenue and Trends
12.2.3. Application Revenue and Trends by type of Application
12.2.4. Company Revenue and Product Analysis
12.2.5. North America Product type and Application Market Size
12.2.5.1. U.S.
12.2.5.2. Canada 
12.2.5.3. Mexico 
12.2.5.4. Rest of North America
12.3. Krill Oil - South America Segment Research
12.4. South America Market Research (Market Size -$Million / $Billion)
12.4.1. Segment type Size and Market Size Analysis 
12.4.2. Revenue and Trends
12.4.3. Application Revenue and Trends by type of Application
12.4.4. Company Revenue and Product Analysis
12.4.5. South America Product type and Application Market Size
12.4.5.1. Brazil  
12.4.5.2. Venezuela
12.4.5.3. Argentina
12.4.5.4. Ecuador
12.4.5.5. Peru
12.4.5.6. Colombia 
12.4.5.7. Costa Rica
12.4.5.8. Rest of South America
12.5. Krill Oil - Europe Segment Research
12.6. Europe Market Research (Market Size -$Million / $Billion)
12.6.1. Segment type Size and Market Size Analysis 
12.6.2. Revenue and Trends
12.6.3. Application Revenue and Trends by type of Application
12.6.4. Company Revenue and Product Analysis
12.6.5. Europe Segment Product type and Application Market Size
12.6.5.1. U.K  
12.6.5.2. Germany 
12.6.5.3. Italy 
12.6.5.4. France
12.6.5.5. Netherlands
12.6.5.6. Belgium
12.6.5.7. Spain
12.6.5.8. Denmark
12.6.5.9. Rest of Europe
12.7. Krill Oil – APAC Segment Research
12.8. APAC Market Research (Market Size -$Million / $Billion)
12.8.1. Segment type Size and Market Size Analysis 
12.8.2. Revenue and Trends
12.8.3. Application Revenue and Trends by type of Application
12.8.4. Company Revenue and Product Analysis
12.8.5. APAC Segment – Product type and Application Market Size
12.8.5.1. China 
12.8.5.2. Australia
12.8.5.3. Japan 
12.8.5.4. South Korea
12.8.5.5. India
12.8.5.6. Taiwan
12.8.5.7. Malaysia
13. Krill Oil Market - Entropy
13.1. New product launches
13.2. M&A's, collaborations, JVs and partnerships
14. Krill Oil Market – Industry / Segment Competition landscape Premium
14.1. Market Share Analysis
14.1.1. Market Share by Country- Top companies
14.1.2. Market Share by Region- Top 10 companies
14.1.3. Market Share by type of Application – Top 10 companies
14.1.4. Market Share by type of Product / Product category- Top 10 companies
14.1.5. Market Share at global level- Top 10 companies
14.1.6. Best Practises for companies
15. Krill Oil Market – Key Company List by Country Premium
16. Krill Oil Market Company Analysis
16.1. Market Share, Company Revenue, Products, M&A, Developments
16.2. Aker Biomarine
16.3. Enzymotec
16.4. Omega Protein
16.5. Reckitt Benckiser Group
16.6. Nutracode
16.7. Superbakrill
16.8. RIMFROST
16.9. Qingdao Kangjing Marine Biotechnology Co., Ltd
16.10. NWC Naturals
16.11. NutriGold Inc
16.12. Company 11 
16.13. Company 12 and More
"*Financials would be provided on a best efforts basis for private companies"
17. Krill Oil Market - Appendix
17.1. Abbreviations
17.2. Sources
18. Krill Oil Market - Methodology
18.1. Research Methodology
18.1.1. Company Expert Interviews
18.1.2. Industry Databases
18.1.3. Associations
18.1.4. Company News
18.1.5. Company Annual Reports
18.1.6. Application Trends
18.1.7. New Products and Product database
18.1.8. Company Transcripts
18.1.9. R&D Trends
18.1.10. Key Opinion Leaders Interviews
18.1.11. Supply and Demand Trends