The global Antarctic Krill market size is expected to grow from USD 1,632.2 million in 2023 to USD 4,817.7 million by 2033. Over the ten years (2023 to 2033), global sales are likely to expand at 11.4% CAGR.
Key Trends Listed by Future Market Insights (FMI):
The manufacture of krill-based products is being transformed by advances in technology and manufacturing techniques. The quality of krill-based products is significantly improving thanks to the application of cutting-edge technology and effective production techniques, which is raising market demand.
New production methods like membrane filtering, supercritical CO2 extraction, and enzyme extraction have made it possible to manufacture high-quality krill oil with few impurities. These techniques enable a more productive and sustainable production process.
The efficiency and output of the krill harvesting process have increased due to the introduction of more sophisticated harvesting equipment. The Southern Ocean is easier to discover and harvest krill in as a result of the employment of cutting-edge sonar equipment and other sensors, which has increased the industry's total production.
With the assistance of modern technology, krill-based product production is also becoming more environmentally friendly.
There are currently more environmentally responsible ways to harvest krill, such as by employing nets with lower mesh sizes and focused fishing techniques that catch bycatch and have a smaller negative impact on the marine ecosystem in the area.
These ethical and sustainable harvesting methods are drawing in customers who care about the environment and are willing to pay more for their products.
The krill harvesting and production process has been made more productive and efficient while spending less money because of the incorporation of automation and technology. Real-time monitoring of the krill harvesting process is now possible thanks to the use of sensors and data analytics, assuring maximum yields and minimizing waste.
| Attributes | Key Insights |
|---|---|
| Estimated Global Market Size (2023E) | USD 1,632.2 million |
| Projected Market Value (2033F) | USD 4,817.7 million |
| Value-based CAGR (2023 to 2033) | 11.4% |
| Top 3 Countrie’s Value | USD 617.0 million |
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| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 8.4% |
| Jul to Dec (H2), 2021 (A) | 8.3% |
| Jan to Jun (H1), 2022 Projected (P) | 8.2% |
| Jan to Jun (H1), 2022 Outlook (O) | 8.1% |
| Jul to Dec (H2), 2022 Outlook (O) | 11.4% |
| Jul to Dec (H2), 2022 Projected (P) | 8.4% |
| Jan to Jun (H1), 2023 Projected (P) | 8.7% |
| BPS Change: H1, 2022 (O) to H1, 2022 (P) | 30 |
| BPS Change: H1, 2022 (O) to H1, 2021 (A) | 20 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | -30 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | 90 |
As per Future Market Insights (FMI) analysis, global sales of Antarctic Krill grew at a CAGR of 6.9% from 2018 to 2022. For the next ten years, the global market is expected to grow at a CAGR of 11.4%.
The Antarctic Krill market is expected to grow significantly in the upcoming years than the historic years. This growth is attributed to number of factors such as increasing demand for krill-based products in the animal feed, aquafeed, and food and beverage industries as well as the numerous health benefits of consuming krill oil and krill meal.
With increasing advancements in technology and manufacturing techniques is ability to develop krill based products with greater quality efficiency is increasing which is expected to drive market expansion in the future.
For instance, manufacturers may extract krill oil and meal more effectively thanks to the adoption of cutting-edge extraction techniques, leading to better yields and cheaper prices.
The expansion of the krill harvesting industry is also expected to contribute to the growth of the market in the future. Key Countries have been increasing their krill fishing efforts and investing in new fishing technologies, leading to a rise in the supply of the product.
Future market expansion is anticipated to be fuelled by factors such as the rising demand for omega-3 dietary supplements and consumer health consciousness. Demand for Antarctic Krill is projected to increase as customers become more aware of the advantages of omega-3 fatty acids for health and the excellent quality of krill-based products.
Krill Meal Market:
| Attributes | Krill Meal Market |
|---|---|
| CAGR (2023 to 2033) | 3.6% |
| Market Value (2033) | USD 1,901.0 million |
| Growth Factor | Krill meal is also a popular ingredient in pet food, and the growing demand for high-quality and sustainable pet food is expected to drive growth in the krill meal market. |
| Opportunity | Growing awareness about the nutritional benefits of krill meal, such as its high levels of omega-3 fatty acids, phospholipids, and astaxanthin, which are valuable for animal health and growth. |
| Key Trends | Growing trend towards natural and organic ingredients is driving growth to the krill meal market. |
Krill Oil Market:
| Attributes | Krill Oil Market |
|---|---|
| CAGR (2023 to 2033) | 10.5% |
| Market Value (2033) | USD 2.7 billion |
| Growth Factor | The health benefits associated with the consumption omega-3 fatty acids, which is present in high concentration krill oil is expected to boost market growth. |
| Opportunity | Increasing popularity of functional foods and beverages is expected to generate growth opportunities for krill meal market. |
| Key Trends | Emergence of innovative krill oil formulations and delivery methods |
Fishmeal Market:
| Attributes | Fishmeal Market |
|---|---|
| CAGR (2023 to 2033) | 7.7% |
| Market Value (2033) | USD 15,392.0 million |
| Growth Factor | Rising awareness about the benefits of fish meal in animal and poultry feed is likely to boost the fishmeal market |
| Opportunity | Growing popularity of Omega-3 enriched diets is expected to offer growth opportunities to the fishmeal market |
| Key Trends | There is a growing concern about the sustainability of the fishmeal industry, with efforts being made to improve the sustainability of fishmeal production and reduce its environmental impact. |
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 8.3% |
| BPS Analysis | 91 |
| Market Value (2033) | USD 1,137.0 million |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR | 6.9% |
| BPS Analysis | -225 |
| Market Value (2033) | USD 390.2 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 12.5% |
| BPS Analysis | -256 |
| Market Value (2033) | USD 409.5 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 13.2% |
| BPS Analysis | -505 |
| Market Value (2033) | USD 303.5 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 9.9% |
| BPS Analysis | 138 |
| Market Value (2033) | USD 284.2 million |
Increasing Health Conscious Consumer Base is Driving Antarctic Krill Demand in United States
The United States is witnessing notable growth in the Antarctic krill market due to the rising number of health-conscious individuals. Several studies have shown health benefits of consuming Antarctic krill derived krill oil.
Omega-3 fatty acids, which are abundant in krill oil, are an important component of many body processes, including brain function, cardiovascular health, and immune system support.
Consumer base in United States are gradually becoming aware of significance of maintaining a healthy lifestyle, which involves integration of nutritious foods into their diets. Consequently, the demand for natural health supplements like krill oil is experiencing rapid expansion.
The medical community acknowledges the health benefits of krill oil, prompting many physicians and healthcare professionals to recommend it to their patients for overall health improvement.
The escalating demand for products derived from krill in the United States has resulted in increased production. The krill fishery in Antarctica operates under strict regulations, implementing measures to ensure sustainable practices.
This guarantees that the harvested krill from Antarctic waters maintains high quality and is acquired in a manner that safeguards the ecosystem.
Increasing popularity of omega-3 supplements is Driving Demand for Antarctic Krill in Germany
In the recent years, with increasing awareness among consumers about the health benefits of omega-3 supplements the demand for these products in Germany has shown significant growth. Thus with increasing demand for omega-3 supplements the Antarctic Krill industry is also showing a significant growth.
The omega-3 fatty acids serves several biological functions such as brain function immune system support and heart health. Astaxanthin which is one of the strong antioxidant known for its potential and anti-inflammatory qualities and capacity to protect the body against oxidative impairment is something which makes krill oil different from rest of omega-3 sources such as fish oil.
The distinctive qualities of krill oil have boosted its popularity among consumers looking for omega-3 supplements, particularly in Germany where there is increasing inclination for natural and organic products.
German consumers are increasingly health-conscious and prioritize supplements that are both natural and sustainable. Krill oil satisfies these requirements as it is derived from a renewable source and undergoes thorough purification to eliminate contaminants like mercury and other heavy metals that are commonly found in fish oil.
The heightened awareness of the health benefits associated with omega-3 fatty acids, coupled with the inclination towards natural and sustainable products, is expected to drive further expansion in the German omega-3 supplement market in the near future. inconvenience
Expansion of the Krill Harvesting Industry to Boost Growth to the China Antarctic Krill Market
Recently, china is emerged as a significant player in the Antarctic krill market with growing krill harvesting sector. With increasing demand, china has become one of the key consumers of krill based products. Thus, in order to meet the growing demand china started focusing on expanding its krill harvesting capacity.
The growing demand for krill oil and other krill based products is key factor fueling china’s krill harvesting sector. Owing to high content of omega-3 fatty acids and health benefits associated with its consumption is increasing demand for krill oil and other krill based products.
This increasing demand is expected to be a key factor boosting china’s krill harvesting sector. Krill oil has gained popularity due to its high content of omega-3 fatty acids and associated health benefits. Consequently, there is a growing need for a reliable and sustainable source of krill oil supplements in China.
To address this demand, China has invested in enhancing its krill harvesting capacity in the Antarctic region. The country now maintains multiple krill fishing vessels in the Southern Ocean and has plans to further expand its fleet in the coming years. Government initiatives promoting investment in the fishing industry have facilitated the growth of China's krill harvesting sector.
In addition to this, china has invested in the research and development of krill-based products is also driving the demand for Antarctic Krill.
For example, krill protein hydrolysate, derived from krill meal, is being studied for potential applications in nutraceuticals and functional foods. Krill protein hydrolysate is believed to possess beneficial anti-inflammatory and antioxidant properties for health.
Overall, China's increasing involvement and investments in the Antarctic krill market are fueling demand and supporting the growth of the krill harvesting sector, driven by the popularity of krill oil and the exploration of novel krill-based goods like krill protein hydrolysate.
Demand in the Market to Remain High for Fish Oil
Based on product type, the demand is expected to remain high for fish oil during the assessment period. As per Future Market Insights, the fish oil product type segment is expected to reach market valuation of USD 1,103.1 million growing at a CAGR of 7.6% over the forecast period.
Number of health benefits associated with the consumption of krill oil is also one of the key factor behind the dominant share of product type segment. Krill oil is key source of omega-3 fatty acids which is essential for several body functions such as heart health, brain function and immune system support.
In addition to this, krill oil also includes astaxanthin which has strong antioxidant and anti-inflammatory properties which also provides protection against oxidative damage.
Krill oil finds application in various sectors, including dietary supplements, functional foods, and pharmaceuticals. As consumer awareness of health and well-being increases, the demand for krill oil as a dietary supplement is on the rise, resulting in increased production and sales of krill oil.
Furthermore, the aquaculture industry utilizes krill oil as a feed additive, further bolstering the demand for krill oil. Consequently, the growing demand for krill oil plays a significant role in driving the growth of the Antarctic krill market.
Food and Beverage Contributing Majorly in the End Use Application Segment
The primary end-use application for Antarctic krill is in the food and beverage sector. Due to its multiple health advantages, krill-based food and beverage items have recently grown significantly popularity among customers who are health-conscious.
These products are used more frequently as functional foods, which are intended to offer health advantages above and beyond basic nutrition.
Krill oil which is made from Antarctic krill is one of the most popular nutritional supplement which is used in number of health advantages. Omega-3 fatty acids is well known for its capacity to enhance cognitive function, lower inflammation and enhance cognitive cardiovascular health are present in significant amount in krill oil.
In addition to this, astaxanthin which is a strong antioxidant that helps to protect body from oxidative damage brought on by free radicals. Moreover, Krill oil is also used in variety of functional foods such as energy bars, beverage and snacks owing to its various health benefits.
Krill meal, which is produced by grinding and processing krill into a powder, is also used in the food and beverage industry as a source of protein. It is a sustainable alternative to conventional sources of animal protein like beef and pork and is used to manufacture functional foods, sports nutrition products, and animal feed. Since krill meal is a great source of protein, amino acids, and other essential nutrients, it is frequently used to make nutritional supplements and protein bars.
The food and beverage business also sources colouring compounds from Antarctic krill. Astaxanthin, which is frequently used as a natural food colouring additive, is what gives krill its red coloration. Juices, yoghurt, and baked goods are only some of the foods and beverages that use astaxanthin in their manufacturing.
In order to satisfy consumer demand, the major players in the market frequently introduce new product lines. To gain a competitive advantage in the market, they are also concentrating on techniques like mergers and acquisitions, partnerships, distribution agreements, collaborations, and marketing.
For Instance:
| Attributes | Details |
|---|---|
| Market Size Value in 2023 | USD 1,632.2 million |
| Market Forecast Value in 2033 | USD 4,817.7 million |
| Anticipated Growth Rate (2023 to 2033) | 11.4% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Volume (MT) and Value (USD Million) |
| Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | United States, Canada, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Product Type, End Use Application and Region |
| Key Companies Profiled | Aker BioMarine; Rimfrost; Olympic Seafood; Enzybel International; Qingdao Kangjing Marine Biotechnology Co., Ltd; Omega Protein; Neptune Wellness Solutions; COPEINCA; Qrill Aqua; Superba Krill by Aker BioMarine. |
The Antarctic Krill market is expected to valued at USD 1,632.3 million in 2023
The global Antarctic Krill market is projected to reach USD 4,817.7 million by 2033
Global Antarctic Krill market is expected to increase at a CAGR of around 11.4% through 2033
North America is expected to hold market share of 35.7% by the end of 2033
Global demand for Antarctic Krill registered a CAGR of 11.0% historically, during 2018 to 2022.
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Antarctic Krill Market
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