Krill Meal Market
Description
The global krill meal market was valued at $208.4 million in 2023, and is projected to reach $416.5 million by 2035, registering a CAGR of 6.0% from 2024 to 2035.
Antarctic krill is the source of krill meal, a nutrient-dense protein source that is used extensively in aquaculture, animal feed, and pet food. In fish, shrimp, poultry, and pets, it has high levels of omega-3 fatty acids, proteins, and astaxanthin, which support growth, immunity, and feed efficiency. Pricing and supply are impacted by the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) stringent restrictions and sustainability concerns. Demand is highest in the Asia-Pacific area because of the growing aquaculture industry, while pet and livestock nutrition is growing in North America and Europe. Major firms concentrate on innovation and sustainable sourcing to satisfy the growing demands of the market.
The krill meal market is segmented on the basis of source, application, form, and region. Depending on the source, the market is classified into Antarctic krill and North Pacific krill. By application, it is segregated into aquafeed, animal feed, pharmaceuticals & nutraceuticals, and dietary supplements. Depending on the form, it is segregated into powder and pellets. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA).
The krill meal market is expanding gradually due to increased demand from the pet food, animal feed, and aquaculture sectors. A quality feed ingredient, krill meal is made from Antarctic krill and is valued for its high protein, omega-3 fatty acids, and astaxanthin content. Especially in salmon and shrimp production, it boosts immunity, increases fish development, and increases feed efficiency. Additionally, because of its nutritional advantages, krill meal is being used by producers of livestock feed and pet food.
The Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) has imposed stringent fishing restrictions to minimize overexploitation, and sustainability concerns and regulations are important factors in market dynamics. Climate change and supply chain interruptions also affect availability and cost.
The aquaculture industries in China, India, and Indonesia are driving the market's dominance in Asia-Pacific, while the need for high-end animal nutrition is growing in North America and Europe. Major providers like Aker BioMarine concentrate on innovation and sustainable sourcing to satisfy rising demand.
The key players operating in the krill meal market have adopted product launches, business expansion, and merger & acquisition as key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global krill meal market are Qingdao Kangjing, British Aqua Feeds, UK Bait Company, GT Premium Baits, ZVS International, BEST LLC, Beyond Fishery, Florida Aqua Farms Inc., Krill Arctic Foods, and Aker BioMarine ASA.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the krill meal market analysis from 2023 to 2035 to identify the prevailing krill meal market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the krill meal market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global krill meal market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Source
Antarctic Krill
North Pacific Krill
By Application
Aquafeed
Animal Feed
Pharmaceuticals and Nutraceuticals
Dietary Supplements
By Form
Powder
Pellets
By Region
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Qingdao Kangjing
British Aqua Feeds
UK Bait Company
GT Premium Baits
ZVS International
BEST LLC
Beyond Fishery
Florida Aqua Farms Inc.
Krill Arctic Foods
Aker BioMarine ASAThe research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
Antarctic krill is the source of krill meal, a nutrient-dense protein source that is used extensively in aquaculture, animal feed, and pet food. In fish, shrimp, poultry, and pets, it has high levels of omega-3 fatty acids, proteins, and astaxanthin, which support growth, immunity, and feed efficiency. Pricing and supply are impacted by the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) stringent restrictions and sustainability concerns. Demand is highest in the Asia-Pacific area because of the growing aquaculture industry, while pet and livestock nutrition is growing in North America and Europe. Major firms concentrate on innovation and sustainable sourcing to satisfy the growing demands of the market.
The krill meal market is segmented on the basis of source, application, form, and region. Depending on the source, the market is classified into Antarctic krill and North Pacific krill. By application, it is segregated into aquafeed, animal feed, pharmaceuticals & nutraceuticals, and dietary supplements. Depending on the form, it is segregated into powder and pellets. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA).
The krill meal market is expanding gradually due to increased demand from the pet food, animal feed, and aquaculture sectors. A quality feed ingredient, krill meal is made from Antarctic krill and is valued for its high protein, omega-3 fatty acids, and astaxanthin content. Especially in salmon and shrimp production, it boosts immunity, increases fish development, and increases feed efficiency. Additionally, because of its nutritional advantages, krill meal is being used by producers of livestock feed and pet food.
The Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) has imposed stringent fishing restrictions to minimize overexploitation, and sustainability concerns and regulations are important factors in market dynamics. Climate change and supply chain interruptions also affect availability and cost.
The aquaculture industries in China, India, and Indonesia are driving the market's dominance in Asia-Pacific, while the need for high-end animal nutrition is growing in North America and Europe. Major providers like Aker BioMarine concentrate on innovation and sustainable sourcing to satisfy rising demand.
The key players operating in the krill meal market have adopted product launches, business expansion, and merger & acquisition as key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global krill meal market are Qingdao Kangjing, British Aqua Feeds, UK Bait Company, GT Premium Baits, ZVS International, BEST LLC, Beyond Fishery, Florida Aqua Farms Inc., Krill Arctic Foods, and Aker BioMarine ASA.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the krill meal market analysis from 2023 to 2035 to identify the prevailing krill meal market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the krill meal market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global krill meal market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Source
Antarctic Krill
North Pacific Krill
By Application
Aquafeed
Animal Feed
Pharmaceuticals and Nutraceuticals
Dietary Supplements
By Form
Powder
Pellets
By Region
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Qingdao Kangjing
British Aqua Feeds
UK Bait Company
GT Premium Baits
ZVS International
BEST LLC
Beyond Fishery
Florida Aqua Farms Inc.
Krill Arctic Foods
Aker BioMarine ASAThe research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
Table of Contents
250 Pages
- CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
- CHAPTER 2: EXECUTIVE SUMMARY
- 2.1. CXO perspective
- CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter’s five forces analysis
- 3.3.1. Moderate bargaining power of suppliers
- 3.3.2. Moderate threat of new entrants
- 3.3.3. Moderate threat of substitutes
- 3.3.4. Moderate intensity of rivalry
- 3.3.5. Moderate bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Rising Demand in Aquaculture & Animal Feed
- 3.4.1.2. Nutritional Benefits & Superior Feed Efficiency
- 3.4.1.3. Expanding Pet Food Industry
- 3.4.2. Restraints
- 3.4.2.1. High Cost Compared to Alternatives
- 3.4.2.2. Strict Regulatory Framework
- 3.4.3. Opportunities
- 3.4.3.1. Expansion into Functional Foods & Nutraceuticals
- 3.4.3.2. Emerging Markets in Asia-Pacific & Latin America
- CHAPTER 4: KRILL MEAL MARKET, BY SOURCE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Antarctic Krill
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. North Pacific Krill
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- CHAPTER 5: KRILL MEAL MARKET, BY APPLICATION
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Aquafeed
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Animal Feed
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Pharmaceuticals and Nutraceuticals
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- 5.5. Dietary Supplements
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
- CHAPTER 6: KRILL MEAL MARKET, BY FORM
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Powder
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Pellets
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- CHAPTER 7: KRILL MEAL MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Source
- 7.2.3. Market size and forecast, by Application
- 7.2.4. Market size and forecast, by Form
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Market size and forecast, by Source
- 7.2.5.1.2. Market size and forecast, by Application
- 7.2.5.1.3. Market size and forecast, by Form
- 7.2.5.2. Canada
- 7.2.5.2.1. Market size and forecast, by Source
- 7.2.5.2.2. Market size and forecast, by Application
- 7.2.5.2.3. Market size and forecast, by Form
- 7.2.5.3. Mexico
- 7.2.5.3.1. Market size and forecast, by Source
- 7.2.5.3.2. Market size and forecast, by Application
- 7.2.5.3.3. Market size and forecast, by Form
- 7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Source
- 7.3.3. Market size and forecast, by Application
- 7.3.4. Market size and forecast, by Form
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. France
- 7.3.5.1.1. Market size and forecast, by Source
- 7.3.5.1.2. Market size and forecast, by Application
- 7.3.5.1.3. Market size and forecast, by Form
- 7.3.5.2. Germany
- 7.3.5.2.1. Market size and forecast, by Source
- 7.3.5.2.2. Market size and forecast, by Application
- 7.3.5.2.3. Market size and forecast, by Form
- 7.3.5.3. Italy
- 7.3.5.3.1. Market size and forecast, by Source
- 7.3.5.3.2. Market size and forecast, by Application
- 7.3.5.3.3. Market size and forecast, by Form
- 7.3.5.4. Spain
- 7.3.5.4.1. Market size and forecast, by Source
- 7.3.5.4.2. Market size and forecast, by Application
- 7.3.5.4.3. Market size and forecast, by Form
- 7.3.5.5. UK
- 7.3.5.5.1. Market size and forecast, by Source
- 7.3.5.5.2. Market size and forecast, by Application
- 7.3.5.5.3. Market size and forecast, by Form
- 7.3.5.6. Russia
- 7.3.5.6.1. Market size and forecast, by Source
- 7.3.5.6.2. Market size and forecast, by Application
- 7.3.5.6.3. Market size and forecast, by Form
- 7.3.5.7. Rest of Europe
- 7.3.5.7.1. Market size and forecast, by Source
- 7.3.5.7.2. Market size and forecast, by Application
- 7.3.5.7.3. Market size and forecast, by Form
- 7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Source
- 7.4.3. Market size and forecast, by Application
- 7.4.4. Market size and forecast, by Form
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Market size and forecast, by Source
- 7.4.5.1.2. Market size and forecast, by Application
- 7.4.5.1.3. Market size and forecast, by Form
- 7.4.5.2. Japan
- 7.4.5.2.1. Market size and forecast, by Source
- 7.4.5.2.2. Market size and forecast, by Application
- 7.4.5.2.3. Market size and forecast, by Form
- 7.4.5.3. India
- 7.4.5.3.1. Market size and forecast, by Source
- 7.4.5.3.2. Market size and forecast, by Application
- 7.4.5.3.3. Market size and forecast, by Form
- 7.4.5.4. South Korea
- 7.4.5.4.1. Market size and forecast, by Source
- 7.4.5.4.2. Market size and forecast, by Application
- 7.4.5.4.3. Market size and forecast, by Form
- 7.4.5.5. Australia
- 7.4.5.5.1. Market size and forecast, by Source
- 7.4.5.5.2. Market size and forecast, by Application
- 7.4.5.5.3. Market size and forecast, by Form
- 7.4.5.6. Rest of Asia-Pacific
- 7.4.5.6.1. Market size and forecast, by Source
- 7.4.5.6.2. Market size and forecast, by Application
- 7.4.5.6.3. Market size and forecast, by Form
- 7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Source
- 7.5.3. Market size and forecast, by Application
- 7.5.4. Market size and forecast, by Form
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Brazil
- 7.5.5.1.1. Market size and forecast, by Source
- 7.5.5.1.2. Market size and forecast, by Application
- 7.5.5.1.3. Market size and forecast, by Form
- 7.5.5.2. Saudi Arabia
- 7.5.5.2.1. Market size and forecast, by Source
- 7.5.5.2.2. Market size and forecast, by Application
- 7.5.5.2.3. Market size and forecast, by Form
- 7.5.5.3. South Africa
- 7.5.5.3.1. Market size and forecast, by Source
- 7.5.5.3.2. Market size and forecast, by Application
- 7.5.5.3.3. Market size and forecast, by Form
- 7.5.5.4. Rest of LAMEA
- 7.5.5.4.1. Market size and forecast, by Source
- 7.5.5.4.2. Market size and forecast, by Application
- 7.5.5.4.3. Market size and forecast, by Form
- CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product mapping of top 10 player
- 8.4. Competitive dashboard
- 8.5. Competitive heatmap
- 8.6. Top player positioning, 2023
- CHAPTER 9: COMPANY PROFILES
- 9.1. Aker BioMarine ASA
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.2. Qingdao Kangjing
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.3. British Aqua Feeds
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.4. Florida Aqua Farms Inc.
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.5. UK Bait Company
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.6. GT Premium Baits
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.7. ZVS International
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.8. BEST LLC
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.9. Beyond Fishery
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.10. Krill Arctic Foods
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
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