Press release
Top Players and Competitive Dynamics in the Krill Meal Market
Krill Meal Market
Projected Growth and Market Size of the Krill Meal Industry
The krill meal market is expected to expand steadily, reaching a valuation of $1.84 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 5.9% throughout the forecast period. Factors driving this increase include heightened demand for sustainable solutions in aquafeed, greater attention to fish health and growth efficiency, and the broadening of pet nutrition sectors. Additionally, regulatory emphasis on sustainable fishing practices, innovations in marine protein processing, and expanding use of krill meal in feed formulations are key contributors. Trends shaping the market include the growing incorporation of omega-3 rich ingredients, sustainable sourcing initiatives, advancements in processing technology, and rising interest in high-protein animal nutrition products.
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Top Companies Leading the Krill Meal Market
Several major corporations dominate the krill meal industry, providing a range of products and solutions. Notable players include Orkla Group, Daesang Corporation, BioMar Group A/S, Shandong Luhua Group Co. Ltd., TripleNine Group, 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, and La Merced. A significant development occurred in July 2024 when American Industrial Partners (AIP), a US-based financial services firm, acquired Aker BioMarine for an undisclosed sum. This move enhances AIP's maritime expertise and strengthens its foothold in the aquaculture sector, supporting the global growth of krill-based innovations related to aquaculture, animal health, and sustainability. Aker BioMarine is a Norway-headquartered biotechnology company specializing in krill-derived products.
Current Trends Influencing the Krill Meal Market
Companies in the krill meal space are increasingly focusing on innovative and sustainable product offerings to meet evolving consumer preferences. This includes expanding the range of marine proteins used in animal and aquaculture nutrition to improve health benefits and environmental impact. An emphasis on sustainable fishing and processing methods is also becoming more prominent, reflecting growing regulatory pressure and consumer awareness.
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Another noticeable trend is the integration of high-quality, omega-3 rich ingredients into feeds, responding to the rising demand for nutrition-focused and functional animal feed solutions. Enhanced processing techniques continue to improve the quality and usability of krill meal, making it more accessible and effective across different applications within animal nutrition.
A Detailed Breakdown of Krill Meal Market Segments
The krill meal market is organized into several key segments for a comprehensive understanding of product types and applications:
1) By Type: Whole Krill Meal and De-oiled Krill Meal
2) By Source: Antarctic Krill and Other Krill Species
3) By Form: Frozen, Dried, and Pelletized
4) By Distribution Channel: Direct Sales and Distributors
5) By Application: Aquaculture, Livestock Feed, Pet Food, Pharmaceuticals, and Other Uses
Further subdivisions include:
- High-Protein Whole Krill Meal, categorized into animal feed, aquaculture, and pet food applications
- De-oiled Krill Meal segments, including high-protein, low-fat variants, and their uses in animal feed, aquaculture, and nutritional supplements
This segmentation provides a clear view of the diverse uses and formats of krill meal products currently available in the global market.
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