Americas hold the largest market share in the Krill Oil Market
According to the new market research report by IndustryARC titled “Krill Oil Market: By Product (Liquids, Tablets); By Application (Dietary Supplements, Animal Food & Pet Food, Functional Food & Beverages, Pharmaceutical, Others); By Sector (On Shore & Off Shore); By Well Type (Open Hole & Cased Hole) & Geography - (2015-2022)”, the market is driven by the rising consciousness about Omega 3 deficiency and the growing individuals’ preference for better work-life balance.
Americas hold the largest market share in the Krill Oil Market
Americas region holds the largest market share in the Krill Oil Market. However, Asia Pacific holds significant market growth during the forecast period. The presence of major fisheries and favorable trade environment are likely to drive the market in European region. The rise in fishing activity and presence of krill fish in Oceans surrounding South Asian nations such as India and Vietnam is driving the market in APAC region. The key applications in European region are Dietary Supplements and Pharmaceutical among others.
Selected Product Analysis done in the full report
Krill Oil is extracted from crustaceans that are found in deep oceans. The fish species that are primarily used in the extraction process are Antarctic Krill, Euphasia Pacifica, and Euphasia Superba.
Krill is served as a major food source for most of the marine creatures. Krill oil is available as a supplement primarily in softgel formulation.
Krill Oil is helpful to beat blood pressure and triglycerides. It also helps to improve heart health.
Krill Oil is prescribed in the treatment of rheumatoid arthritis, higher triglycerides level, asthma, and Alzheimer’s disease.
Excerpts on Market Growth Factors
The adoption of sustainable Krill harvesting will be one of the key trends that will gain traction in the Krill Oil Market over the next few years.
The liquid krill demand is driven by the rapid introduction of new krill products within the liquid krill oil segment.
The demand in European region was over 60.0 millions in 2015 accounting for over 35% of the overall market. The hunt for Omega 3 substitutes and rising consumer knowledge are reportedly driving the market in this region.
European Krill Oil Market is valued at $64.6 millions in 2016 and is anticipated to reach $156.16 million by 2023 at a CAGR of 13.44%.
“The European Food Safety Authority (EFSA) authorization of the use of lipid extract derived from krill oil at a higher dose is set to “drive a big change for Europe” and open up health claim avenues” says one Norwegian company.
aRecent data indicate the krill oil represents 14% of the total omega-3 sales in Europe. This reveals the fact that consumers are continuously in search for the potential benefits of omega-3 fatty acids.
The application segment was dominated by dietary supplements with a market share of over 60% and is anticipated to reach $297.2 million by the end of 2022.
The functional food & Beverages segment is expected to register the CAGR of 13% during the forecast period.
Capsules are the fastest growing product segment within the krill tablet category and anticipated to grow at a CAGR of over 13% during the forecast period owing to the rising number of manufacturers
Asia Pacific accounted for 27.64% of the total market share in 2016, in terms of revenue.
To access the full report browse the link below
https://industryarc.com/Report/17818/krill-oil-market.html?
Key players of Krill Oil Market:
Cleanmarine Krill Oil is one of the best krill oil and the first omega-3 oil in Europe to be certified by MSC standard for sustainability.
The key players in the market include Aker BioMarine, Enzymotec, Omega Protein, Reckitt Benckiser, and RIMFROST are the leading vendors in the Krill Oil Market. The other prominent vendors include Allinon Pharma, Health Natura, NHS Labs, NORWAY OMEGA, Nutrifynn Caps, NutriStart, Savant Distribution, and Viva Naturals.
New Product launches and consumer awareness campaigns are expected to drive the growth in this market.
AkerBioMarine acquires Enzymotec’s Krill Oil business in a €21.6 million deal in 2018. The Norwegian company also announced the acquisition of krill oil roster and intellectual property of Neptune Technologies & Bioresources Inc. The deal was worth $34 million and allowed the company to expand its market share and products globally.
Americas hold the largest market share in the Krill Oil Market
Americas region holds the largest market share in the Krill Oil Market. However, Asia Pacific holds significant market growth during the forecast period. The presence of major fisheries and favorable trade environment are likely to drive the market in European region. The rise in fishing activity and presence of krill fish in Oceans surrounding South Asian nations such as India and Vietnam is driving the market in APAC region. The key applications in European region are Dietary Supplements and Pharmaceutical among others.
Selected Product Analysis done in the full report
Krill Oil is extracted from crustaceans that are found in deep oceans. The fish species that are primarily used in the extraction process are Antarctic Krill, Euphasia Pacifica, and Euphasia Superba.
Krill is served as a major food source for most of the marine creatures. Krill oil is available as a supplement primarily in softgel formulation.
Krill Oil is helpful to beat blood pressure and triglycerides. It also helps to improve heart health.
Krill Oil is prescribed in the treatment of rheumatoid arthritis, higher triglycerides level, asthma, and Alzheimer’s disease.
Excerpts on Market Growth Factors
The adoption of sustainable Krill harvesting will be one of the key trends that will gain traction in the Krill Oil Market over the next few years.
The liquid krill demand is driven by the rapid introduction of new krill products within the liquid krill oil segment.
The demand in European region was over 60.0 millions in 2015 accounting for over 35% of the overall market. The hunt for Omega 3 substitutes and rising consumer knowledge are reportedly driving the market in this region.
European Krill Oil Market is valued at $64.6 millions in 2016 and is anticipated to reach $156.16 million by 2023 at a CAGR of 13.44%.
“The European Food Safety Authority (EFSA) authorization of the use of lipid extract derived from krill oil at a higher dose is set to “drive a big change for Europe” and open up health claim avenues” says one Norwegian company.
aRecent data indicate the krill oil represents 14% of the total omega-3 sales in Europe. This reveals the fact that consumers are continuously in search for the potential benefits of omega-3 fatty acids.
The application segment was dominated by dietary supplements with a market share of over 60% and is anticipated to reach $297.2 million by the end of 2022.
The functional food & Beverages segment is expected to register the CAGR of 13% during the forecast period.
Capsules are the fastest growing product segment within the krill tablet category and anticipated to grow at a CAGR of over 13% during the forecast period owing to the rising number of manufacturers
Asia Pacific accounted for 27.64% of the total market share in 2016, in terms of revenue.
To access the full report browse the link below
https://industryarc.com/Report/17818/krill-oil-market.html?
Key players of Krill Oil Market:
Cleanmarine Krill Oil is one of the best krill oil and the first omega-3 oil in Europe to be certified by MSC standard for sustainability.
The key players in the market include Aker BioMarine, Enzymotec, Omega Protein, Reckitt Benckiser, and RIMFROST are the leading vendors in the Krill Oil Market. The other prominent vendors include Allinon Pharma, Health Natura, NHS Labs, NORWAY OMEGA, Nutrifynn Caps, NutriStart, Savant Distribution, and Viva Naturals.
New Product launches and consumer awareness campaigns are expected to drive the growth in this market.
AkerBioMarine acquires Enzymotec’s Krill Oil business in a €21.6 million deal in 2018. The Norwegian company also announced the acquisition of krill oil roster and intellectual property of Neptune Technologies & Bioresources Inc. The deal was worth $34 million and allowed the company to expand its market share and products globally.
No comments