According to Future Market Insights research, during the projected period, the Krill Meal market is expected to grow at a CAGR of 3.6%. The market value is projected to increase from US$ 1,288.3 Million in 2022 to US$ 1,834.9 Million by 2032. The Krill Meal market was valued at US$ 1,234 Million at the end of 2021 and is anticipated to exhibit CAGR growth of 4.4% from 2016 to 2021.
Attributes
Details
Market Size Value in 2022
US$ 1,288.3 Million
Market Forecast Value in 2032
US$ 1,834.9 Million
Global Growth Rate (2022 to 2032)
3.6% CAGR
Forecast Period
2022 to 2032
Market Share of the United Kingdom in Europe
5.8%
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Introduction
A specialized feed ingredient known as krill meal is composed of the tiny crustacean known as krill. The businesses have been producing it for over ten years. More than 200,000 tons of krill meal are carried globally since it is a great source of protein. Euphausia superba and Euphausia Pacifica are the two main species of krill meal, despite the fact that there are more than 80 krill species, and only six of them are currently fished.
The South Antarctic krill is a member of the Euphausia superba species, which is utilized to produce highly valued krill meal. Even though krill is one of the most common organisms on the planet, industrial use of it is still in its infancy. In contrast to fish meal, krill meal contains more fat, ethoxyquin, and a naturally occurring stabilizing agent.
Low levels of PCBs and heavy metals are present in krill meals. In addition, polyunsaturated fatty acids and amino acids are abundant in krill meals. Krill meal aids in the stimulation of growth, aids in boosting weight gain, and aids in improving feed conversion rates.
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A new report published by Future market insights, titled, Krill Meal Market - Global Opportunity Analysis and Industry Forecast, 2022 to 2032 projects the global Krill Meal market to reach US$ 1,834.9 Million by 2032. The market was valued US$ 995.0 Million in 2016 and is expected to grow at a CAGR of 3.6% from 2022 to 2032.
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Country-wise Insights
What is the outlook of North America in the market of Krill Meal in the world?
Krill meal is a high-protein powder made from krill, a small shrimp-like crustacean. It is a popular dietary supplement for humans and animals and has a wide range of applications in the food industry.
The North American market for krill meals is expected to grow in the coming years, due to increasing demand from the aquaculture and animal feed industries. However, competition from other regions, such as Asia and Europe, is expected to remain strong.
What is the outlook of Europe in the market of Krill Meal in the world?
In the market of krill meal, Europe is a key player. The region has a high demand for the product, and suppliers are keen to meet this demand. However, Europe is not the only market for krill meals. There is also significant demand from Asia and other parts of the world.
This means that suppliers must be able to meet the needs of all their customers. The outlook for Europe in the market of krill meal is positive. The region has a strong demand for the product, and suppliers are ready to meet this demand.
What is the outlook of Asia Pacific in the market of Krill Meal in the world?
The Asia Pacific is one of the most important markets for krill meals in the world. The demand for krill meals in the region is expected to continue to grow in the coming years. India and China are two of the largest markets for krill meals in the world.
The demand for krill meals in these countries is expected to continue to grow at a rapid pace. In Asia Pacific, the demand for krill meals is high and is expected to continue to grow. The main reasons for this are the growing aquaculture industry in China and India, as well as the increasing popularity of krill as a dietary supplement.
Powdered krill, a tiny crustacean that resembles a shrimp, is known as a krill meal. It is an excellent feed for fish and other seafood since it is rich in protein and omega-3 fatty acids. Due to its nutritional advantages, krill meal has recently grown in popularity throughout Asia and the Pacific.
One of the key factors influencing the demand for krill meals in the Asia Pacific is the aquaculture sector. Fish farming is a significant sector in China and India, and krill meal is frequently used as fish feed.
Category-wise Insights
What are the major drivers for Krill Meal in the Market?
Consumers are becoming more aware of the health advantages of krill meals, which is what is driving the demand for them. In addition to being a great source of protein, krill meal also has several unique qualities, including anti-inflammatory, anti-cancer, and antioxidant characteristics. Because of the qualities that Krill possesses, businesses produce goods for human consumption and will continue to do so.
The pharmaceutical industry is very interested in the versatile qualities of krill meals, which will unquestionably boost the market for krill meals during the forecast period. There are a number of alternative protein feeds, such as fish meals and soybean meals, which are available and are factors that restrain the expansion of the krill meal market.
What is the different source for the extraction of Krill Meal?
Krill meal is a popular seafood ingredient and can be found in many commercial products. The main difference between krill meal and other sources of seafood protein is its origin. Krill are small shrimp-like creatures that live in the ocean.
They are a major food source for whales, penguins, and other marine animals. Because of this, krill meal is considered a sustainable and environmentally friendly source of seafood protein. Krill meal is also high in omega-3 fatty acids, which are beneficial for human health.
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Supermarket and Industrial Distributors Are Propelling the Growth Krill Meal in Market
The Krill Meal market is expected to grow at a CAGR of 3.6% during the forecast period of 2022 to 2032. Supermarket and Industrial Distributors are Propelling the Growth of Krill Meal in the Market.
The high demand for krill meals by these groups is driving market growth. Krill meal is a popular choice among industrial distributors because of its nutritious value and low price. Supermarkets are also stocking up on krill meals to meet the demands of their customers. The growing popularity of krill meals is expected to continue, with supermarket and industrial distributors playing a key role in its growth.
This growth can be attributed to the increasing demand for krill meals from the aquaculture and animal feed industries, as well as the growing demand for sustainable and eco-friendly products. Krill meal is a high-protein, low-fat alternative to fishmeal, and its use in aquaculture and animal feed is expected to drive market growth.
Additionally, rising concerns over the environmental impact of fishing and the depletion of fish stocks are expected to drive demand for krill meal as a sustainable and eco-friendly protein source.
Competitive Landscape
The krill meal market has seen a recent surge in price and demand. This is due to the increasing popularity of krill as a dietary supplement. Krill meal is a high-protein, low-fat alternative to other animal-based protein sources. The main driver of the krill meal market is the aquaculture industry, which uses it as fish feed. Other important drivers include the pet food industry and the human health supplements market.
Krill Meal Market Report Scope
Attribute
Details
Forecast Period
2022 to 2032
Historical Data Available for
2017 to 2022
Market Analysis
US$ Million for Value and Units for Volume
Key Regions Covered
North America
Latin America
Europe
Asia Pacific
Oceania
Middle East and Africa
Key Countries Covered
USA
Canada
Mexico
Germany
United Kingdom
France
Italy
Spain
China
Japan
India
South Korea
Australia
Brazil
Argentina
South Africa
United Arab Emirates
Key Segments Covered
By Market Use
By End-user
By Region
By Distribution Channel
Key Companies Profiled
SipCarp
Qrill
Shandong Keruier Biological Company
La Merced
CYT INTERNATIONAL PTE LTD
Sunflower Enterprise
NUTRAFEED
SEAPRO
Qingdao Kangjing Marine Biotechnology Co
Beijing Jin-Ye Bioengineering Co. Ltd.
A-Bank Co., Ltd
INTERRYBFLOT
Report Coverage
Market Forecast, Company Share Analysis, Competitive Landscape, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Krill Meal Market segmentation by category
By Market Use, The Krill Meal Market Is Segmented As:
Human Consumption
Aquarium
Aquaculture Feed
By End-use, the Krill Meal Market is segmented as:
Pharmaceuticals
Food And Beverage
Dietary Supplements
Cosmetics
By Region, the Krill Meal Market is segmented as:
North America
Latin America
Europe
Asia Pacific
Oceania
Middle East and Africa
By Distribution channel, the Krill Meal Market is segmented as:
Pharmacies/Drugstores
Health & Beauty stores
Hypermarket/Supermarket
Direct Selling
Online
Frequently Asked Questions
What is the market Share value of Krill Meal in 2022?
The global Krill Meal market will reach a valuation of US$ 1,288.3 Million by the end of 2022.
What is the demand outlook forecast for the Krill Meal market?
The global Krill Meal market is forecasted to surpass US$ 1,834.9 Million by the end of 2032.
Which are the major countries driving demand for Krill Meal Market?
USA, Germany, Japan, China, India, Australia, United Kingdom are the major countries driving demand for Krill Meal Market.
What is the, USA Krill Meal Market Outlook?
The USA Krill Meal Market is contributing 31.6% of the total value share in the global market.
What is the, Germany Krill Meal Market Outlook?
The Germany Krill Meal Market is contributing 27.1% of the total value share in the global market.
What is the, Japan Krill Meal Market Outlook?
In Japan Krill Meal Market is contributing 8.2% of the total market share which be valued in the year 2022.
What is the, India Krill Meal Market Outlook?
In India Krill Meal Market is contributing 6.1% of CAGR for the latest period.
What is the, China Krill Meal Market Outlook?
In China Krill Meal Market is contributing 5.8% of CAGR for the latest period.
What is the, Australia Krill Meal Market Outlook?
In Australia Krill Meal Market is contributing 2.3% of the total value share in the global market.
