Krill Oil Market Outlook:
Krill Oil Market size was valued at USD 997 million in 2024 and is projected to reach USD 2.58 billion by the end of 2034, rising at a CAGR of 10.3% during the forecast period, i.e., 2025-2034. In 2025, the industry size of krill oil is estimated at USD 1.1 billion.
The primary harvesting regions are located in Antarctica, primarily managed by the Commission for the Conservation of Antarctic Marine Living Resources, to ensure sustainable fishing practices. According to the National Oceanic and Atmospheric Administration, the average of the krill catches in the Antarctic is 450,100 metric tons over the last few years. The leading harvesters of the raw krill are Norway and China. The harvested raw krill is converted in the vessels of factories and transported to the specialized facilities for oil extraction and ensuring the least deterioration of the bioactive compounds.
The krill oil’s PPI has gone through fluctuations owing to variations in the catch yields and other regulatory constraints, and has experienced an increase of 9-11% in the last 5 years. Also, the international trade of oil is pioneered by trade supply from China and Norway, registering almost 61% of the global supply. The largest importers across the globe are the U.S. and Europe, having combined annual imports surpassing USD 310 million. The CPI for the supplements based on the krill oil has grown 4-5% annually, bolstered by rising demand for fortified products.
