Press release
Krill Oil Market Is Thriving Worldwide with the Outstanding Key players by 2021
Krill Oil
Krill is a supplement that is gaining high demand in the market as an alternative to fish oil. It is a rich source of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), is a type of omega fats that are mainly found in marine species. Krill oil has numerous health benefits as it has anti-inflammatory properties and also helps in reducing arthritis and joint pain.
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Rising awareness regarding the health benefits of omega-3 fatty acids is anticipated to propel the market growth of krill oil. Moreover, rising consumption of DHA as it sharpens the mind enhances memory and improve concentration is again expected to fuel the demand for krill oil. Furthermore, krill oil is also beneficial in treating stroke, depression, cancer, and irregular menstrual cycle, which in turn propelling the market growth of krill oil.
Geographically, Europe dominated the global krill oil market in 2018, reporting 35.2% market share in terms of revenue, followed by Asia-Pacific and Latin America, respectively.
Side-effects associated with the consumption of krill oil such as stomach discomfort and reduced appetite is estimated to restrict the market growth. Moreover, consumption of krill oil can also result in heartburn, fishy burp, gas, bloating, nausea, and diarrhea which is also expected to restrict the demand for krill oil. Furthermore, it can also result in oily facial skin or breakout and in some cases krill oil can also increase blood pressure. Aforementioned factors are projected to hinder the market growth.
Manufacturers are now focusing more on launching innovative omega-3 supplements which is anticipated to propel the market growth of krill oil over the forecast period. For instance, in May 2018, Polaris has introduced Omegavie DHA 650 Qualitysilver 5. Omegavie DHA 650 algae Qualitysilver 5 is produced entirely in France from sustainable sources of microalgae, making it suitable for vegetarians and vegans.
Market Trends
Rising demand for liquid krill oil or other marine oil that are water-soluble for water-based and dairy products such as smoothies, and other drinks are expected to augment the market growth of krill oil. Liquid products are ideal for children and elderly people as they reduce the risks of choking associated with the tablet form. Hence, growing demand for liquid krill oil due aforementioned advantage is projected to propel the market growth of krill over the forecast timeframe.
Competitive Section
Key players active in the global krill oil are Neptune Biotech Pvt. Ltd., Aker BioMarine AS, Enzymotec Ltd, Fuji Chemicals, Krill Canada, Rimfrost, Norwegian Fish Oil, Darduck Frd, and Quingdao Kangjing Marine Biotechnology Co. Ltd.
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