Krill Oil Market Trends

Growth Drivers

Growing Prevalence of Stress and Anxiety – Stress and anxiety are very common but put long lasting effects on an individual’s mental health. Therefore, now people are more aware to tackle stress to stay mentally healthy. For instance, globally, the overall cases of anxiety and major depressive disorders were reached around 78 million in 2020.
Rising Number of Dysmenorrhea - Regardless of age or race, dysmenorrhea is one of the most prevalent gynecological issues among women. It is one of the causes of pelvic pain in women during their menstrual cycle. As per the report provided by the National Center for Biotechnology Information, teenagers have an 80% prevalence of dysmenorrhea. Nearly 40% of those had severe dysmenorrhea.
Increasing Geriatric Population - The geriatric population is classified as those aged 60 years and up. The phenomenon of aging brings major health issues and such issues are gaining hype with increasing geriatric population. As per the data provided by the World Health Organization (WHO), in 2019, there were 1 billion people aged 60 years and older. This figure is expected to rise to 1.4 billion by 2030 and 2.1 billion by the year 2050.
Escalating Prevalence of Arthritis - Growing prevalence of Arthritis is another factor which is leading the demand of krill oil. According to the data provided by the National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), in the US, 58.5 million individuals, or 24% of all adults, suffer from arthritis.
Increase in Digestive Diseases - Digestive diseases such as GERD, irritable bowel syndrome, constipation, and others are pretty common. So, awareness to treat such gastrointestinal issues is influencing the increased use of krill oil based tablets or capsules. 5 out of every 10 adults worldwide suffer from functional gastrointestinal disorders of variable severity.

Challenges

High Costs of Krill Oil Products
Side-Effects Coupled with The Consumption of Krill Oil
Deficit of Proper Regulation

Krill Oil Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	10.4%
Base Year Market Size (2023)	USD 1.01 billion
Forecast Year Market Size (2036)	USD 3.66 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of krill oil is assessed at USD 1.09 billion.

Krill Oil Market size was valued at USD 1.01 billion in 2023 and is expected to exceed USD 3.66 billion by 2036, expanding at over 10.4% CAGR during the forecast period i.e., between 2024-2036. Growing prevalence of stress and anxiety, rising number of dysmenorrhea, increasing geriatric population, and escalating prevalence of arthritis will propel the market growth.

North America is anticipated to hold largest revenue share by 2036, backed by growing consumer inclination for good health and wellness in the region.

The major players in the market are Aker BioMarine ASA, Rimfrost AS, NutriGold, Inc., Neptune Wellness Solutions Inc., NWC Naturals Inc., Qingdao Kangjing Marine Biotechnology Co., Ltd, Jarrow Formulas, Inc., NORWAY OMEGA LTD, and others.

Krill Oil Market Trends