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

Global Krill Oil Supplements Market size was valued at USD 915.95 Million in 2022 and is poised to grow from USD 1014.87 Million in 2023 to USD 2305.31 Million by 2031, at a CAGR of 1O.8% during the forecast period (2024-2031).

The global krill oil supplements market is a rapidly growing industry that focuses on providing consumers with nutritional supplements derived from krill, a small crustacean found in the waters of the Southern Ocean. The market is driven by the increasing demand for dietary supplements that offer a variety of health benefits, including cardiovascular health, joint health, and cognitive function. The primary purpose of the krill oil supplements market is to provide consumers with a natural and sustainable source of omega-3 fatty acids, phospholipids, and antioxidants.

Krill oil is a superior source of omega-3 fatty acids compared to traditional fish oil supplements, as it contains a higher concentration of the beneficial nutrients EPA and DHA, and is also easier for the body to absorb. The market is experiencing significant growth due to several drivers, including the rising awareness of the health benefits of  omega-3 fatty acids and the increasing demand for natural and sustainable products. Additionally, the rising prevalence of chronic diseases, such as cardiovascular disease and arthritis, is also driving the demand for krill oil supplements as a preventative measure. However, the market also faces certain restraints, including the high cost of krill oil supplements compared to traditional fish oil supplements and the limited availability of krill oil due to its dependence on sustainable fishing practices. Key trends in the market include the increasing demand for vegan and vegetarian krill oil supplements, which utilize algae-based sources of omega-3 fatty acids, and the rising popularity of krill oil supplements as a natural treatment for ADHD and other cognitive disorders.

US Krill Oil Supplements Market is poised to grow at sustainable CAGR for the next forecast year.