Krill Meal Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers

How Will the Krill Meal Market Grow, and What Is the Projected Market Size?
In recent times, the krill meal market has experienced a significant expansion. Its value predicted to surge from $1.3 billion in 2024 to $1.39 billion in 2025, attaining a compound annual growth rate (CAGR) of 6.5%. This vigorous growth witnessed in the previous times is largely due to factors such as the escalating demand for sustainable seafood, expansion of the aquaculture sector, heightened awareness about health, growth of the pet food industry, and regulatory endorsement of sustainable procedures.

A substantial surge in the size of the Krill meal market is projected in the coming years, expected to reach $1.77 billion by 2029 with a compound annual growth rate (CAGR) of 6.2%. This anticipated growth within the forecast period can be ascribed to numerous factors such as the growing popularity of ingredients sourced from the marine environment, enhanced concern for animal welfare, an increase in consumer education, a soaring demand for natural components, and a flourishing dietary supplement* market. Key trends predicted for the forecast period comprise technological development, production of functional meals, prioritizing sustainability, a transition to online sales, and adherence to regulations.

What Key Elements Are Boosting Growth in the Krill Meal Market?
The expansion of the pet food sector is anticipated to contribute significantly to the rise of the krill meal market. This industry includes the manufacture, distribution, and commercialization of food items specifically designed for household pets such as dogs, cats, birds, among others. The sector owes its growth to an increase in pet ownership, the humanizing treatment of pets, heightened consciousness of pet nutrition, and the desire for high-quality, specialized food for pets. Krill meal supports this sector by supplying a rich source of protein, omega-3 fatty acids, and vital nutrients that promote pet health, with particular emphasis on skin, coat, and joint wellbeing, and at the same time improving pet food's flavor. For example, in June 2024, the European Pet Food Industry Federation (FEDIAF), which is based in Belgium, reported that annual revenue from pet food sales amounted to €27.7 billion ($30.61 billion) in 2021, rising to €29.2 billion ($32.27 billion) in 2022. Hence, the accelerating pet food industry serves as a growth engine for the krill meal market.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=20860&type=smp

Who Are the Major Industry Players Fueling Krill Meal Market Expansion?
Major companies operating in the krill meal market are Orkla Group, Daesang Corporation, BioMar Group A/S, Shandong Luhua Group Co. Ltd., TripleNine Group, Ifremer, Aker BioMarine, KD Pharma Group, Nautika, Rimfrost, Superba, Neptune Krill, Colpex International, CYT INTERNATIONAL PTE LTD, Krill Canada Corporation, Norwegian Fish Oil AS, NWC Naturals Inc., Sirius Food, Tharos, Brio Foods, La Merced

What Are the Latest Innovations in the Krill Meal Market?
Leading players in the krill meal market are strategizing to develop certified krill-based substances, which are rich in nutrition, to secure an upper hand in the competition. These nutritious krill-based products include items like krill oil and krill meal that are high in proteins, omega-3 fatty acids, and antioxidants like astaxanthin. An example is the June 2022 clearance from the United States Food and Drug Administration (FDA) for QRILL Aqua and QRILL High Protein (QHP) products, by Aker BioMarine, a Biotech firm based in Norway. These approvals grant entry to krill-based ingredients that are sustainable, highly nutritious, and safe, suitable for salmon feed, thus helping produce healthy, high-quality fish. The permissions also give an opportunity for the U.S. salmon farming industry to avail the established health and nutritional advantages of krill.

How Is the Segmentation of the Krill Meal Market Defined?
The krill meal market covered in this report is segmented -

1) By Type: Whole Krill Meal; De-oiled Krill Meal
2) By Source: Antarctic Krill; Other Krill Species
3) By Form: Frozen; Dried; Pelletized
4) By Distribution Channel: Direct Sales; Distributors
5) By Application: Aquaculture; Livestock Feed; Pet Food; Pharmaceuticals; Other Applications

Subsegments:
1) By High-Protein Whole Krill Meal: Low-Protein Whole Krill Meal; Whole Krill Meal For Animal Feed; Whole Krill Meal For Aquaculture; Whole Krill Meal For Pet Food
2) By De-oiled Krill Meal: High-Protein De-oiled Krill Meal; Low-Fat De-oiled Krill Meal; De-oiled Krill MealFor Animal Feed; De-oiled Krill Meal For Aquaculture; De-oiled Krill Meal For Nutritional Supplements

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/krill-meal-global-market-report

What Is the Leading Region in the Krill Meal Market?
Asia-Pacific was the largest region in the krill meal market in 2024. The regions covered in the krill meal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Krill Meal Global Market Report?

- Market Size Analysis: Analyze the krill meal Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the krill meal Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall krill meal market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the krill meal market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20860

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.