January 10, 2022
According to the research report titled ‘Global Krill Fishery Market - Analysis By Fishing Purpose (Oil, Meal, Pet Food) , Species (Superba, Pacifica) , By Region, By Country (2020 Edition) : Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with MarketStudyReport, global krill fishery market was worth USD 354.71 million in 2019 and is anticipated to witness tremendous growth through 2025.
Growing prevalence of life threatening and gastrointestinal diseases, rising awareness of benefits associated with omega 3, technological advancements, in consort with improved cognizance of health benefits associated with krill products for both human & pet health are the major growth determining factors for global krill fishery market.
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Furthermore, ageing population, hypertension, and an unhealthy lifestyle are other contributors in the industry growth. Increasing demand for krill oil, tablets, and capsules for skin health and sports nutrition products will augment the market outlook during the forecast period of 2020-2025.
Moreover, renowned firms are projected to set new standards for technology and sustainability in krill harvesting, which is expected to boost the worldwide krill fishery market.
On the basis of fishing purpose, krill oil segment is anticipated to grow significantly during the forecast period, due to of the presence of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) which improves the mental health of new-born child.
In terms of species, euphausia superba segment held the largest market share in the recent past, due to its benefits for aquaculture, human consumption, and pet food.
Considering the regional landscape, Americas market is estimated to record significant growth through 2025, owing to rising number of chronic disease patients, increasing diabetic population, and prevalence of blood pressure diseases. Additionally, widespread consumption as well as rising per capita disposable income will positively sway the industry dynamics.
The key players in worldwide krill fishery market are Omega Protein Corporation, China National Fisheries Corporation, Alfa Laval AB, Rimfrost AS, and Aker BioMarine.