Krill Oil Supplements Market Size, Share, Growth Analysis, By Product(Liquids, softgels and capsules), By Application(Dietary supplements, animal feed, functional food & beverages, pharmaceuticals and others), By Region - Industry Forecast 2024-2031

North America held the largest market share of 37.4% in 2021, with key application sectors including pharmaceuticals, infant formula, and supplemental & functional foods. The demand for krill oil supplements in North America is expected to increase due to expanding health benefits and the introduction of various dietary supplement product forms. Rising fitness preferences among consumers in the U.S., Canada, Mexico, and Canada are expected to drive demand for functional food and beverage applications.

The Asia Pacific market is predicted to experience a CAGR of 11.5%. Krill oil dietary supplements are increasingly popular among middle-aged consumers in China for their eye and immune benefits. The growth of omega-3 in the Asia Pacific region has been fueled by rising supplement demand in countries such as India, China, Singapore, South Korea, Japan, and Australia. The use of krill oil in daily diets and consumer awareness regarding health issues are expected to drive the demand for omega-3 in the region. Furthermore, the cultivation of krill fish in the Indian Ocean and the South China Sea is expected to continue growing over the next few years. The market growth is also expected to be propelled by the increasing use of krill oil in the pharmaceutical industry and expanding R&D activities in the region.