About Krill Oil
Krill oil is an extract which is produced from Antarctic krill. Krill is mainly consumed by baleen whales, mantas, and whale sharks. It used for making krill oil and is also used as aquafeed for marine aquaculture. Krill oil is prepared from a species of krill called Euphausia superba. Krill oil helps in the prevention of various health issues such as heart disease, high levels of certain blood fats, high cholesterol, high blood pressure, stroke, cancer, osteoarthritis, depression, premenstrual syndrome (PMS), and painful menstrual cramps.
Technavio’s analysts forecast the global krill oil market to grow at a CAGR of 12.65% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global krill oil market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Krill Oil Market 2017-2021
Technavio recognizes the following companies as the key players in the global krill oil market: Aker BioMarine, Enzymotec, Omega Protein, Reckitt Benckiser, and RIMFROST.
Other Prominent Vendors in the market are: Allinon Pharma, Health Natura, NHS Labs, NORWAY OMEGA, Nutrifynn Caps, NutriStart, Savant Distribution, and Viva Naturals.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Sustainable krill harvesting. One of the trends that can influence the growth of the market is sustainable krill harvesting, which is gaining popularity globally. Consumers are now demanding krill oil products, which are produced from sustainable krill harvesting. Increasing concern about the environment and declining krill population are some of the factors which drive the growth of sustainable krill harvesting.”
According to the report, one of the major drivers for this market is Health benefits of krill oil. The health benefits associated with the consumption of krill oil is one of the major growth drivers of the global krill oil market. Increasing awareness among consumers about the health benefits of krill oil will increase the demand for krill oil during the forecast period. Krill oil is rich in omega-3 fatty acids, which help in lowering low-density lipoprotein (LDL) cholesterol levels, reducing triglyceride levels, and increasing high-density lipoprotein (HDL) cholesterol levels. Krill oil also helps in preventing blood clots, which can cause strokes and heart attacks.
Further, the report states that one of the major factors hindering the growth of this market is High cost of krill oil. One of the challenges to the growth of the global krill oil market is the high price of krill oil as compared with fish oil. Krill oil is mostly used as a replacement for fish oils, as it contains more omega-3 fatty acids and phospholipids. The cost of krill oil is high as compared to fish oil, and this prevents consumers from purchasing krill oil. It is estimated that the average price of krill oil is about two times more than normal fish oil.
Aker BioMarine, Enzymotec, Omega Protein, Reckitt Benckiser, RIMFROST, Allinon Pharma, Health Natura, NHS Labs, NORWAY OMEGA, Nutrifynn Caps, NutriStart, Savant Distribution, and Viva Naturals.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook