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Krill Meal Market

Market Insights on Krill Meal covering sales outlook, demand forecast & up-to-date key trends

Krill Meal Market Research Report by use of market, By Region, end user Application, distribution channel & Region – Forecast to 2022-2032

Krill Meal Market Outlook

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 Mn in 2022 to US$ 1,834.9 Mn by 2032. The Krill Meal market was valued at US$ 1,234 Mn at the end of 2021 and is anticipated to exhibit CAGR growth of 4.4% in 2016-2021.

Market Size Value in 2022

US$ 1,288.3 Mn

Market Forecast Value in 2032

US$ 1,834.9 Mn

Global Growth Rate (2022 to 2032)

3.6% CAGR

Forecast Period

2022-2032

Market Share of UK 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 utilised 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 meal. In addition, polyunsaturated fatty acids and amino acids are abundant in krill meal. Krill meal aids in the stimulation of growth, aids in boosting weight gain, and aids in improving feed conversion rates.

Comparing historical outlook and projections for the world's Plant Sterol Supplements

A new report published by Future market insights, titled, "Krill Meal Market - Global Opportunity Analysis and Industry Forecast, 2022-2032," projects the global Krill Meal market to reach US$ 1,834.9 Mn by 2032. The market was valued US$ 995.0 Mn 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 meal 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 meal. 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 meal in the world. The demand for krill meal in the region is expected to continue to grow in the coming years. India and China are two of the largest markets for krill meal in the world.

The demand for krill meal in these countries is expected to continue to grow at a rapid pace. In Asia Pacific, the demand for krill meal 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 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 meal in 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 Market?

Consumers are becoming more aware of the health advantages of krill meal, which is what is driving the demand for it. 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 meal during the forecast period. There are a number of alternative protein feeds, such as fish meal and soybean meal, 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 in market is expected to grow at a CAGR of 3.6% during the forecast period of 2022-2032. Supermarket and Industrial Distributors are Propelling the Growth of Krill Meal in Market.

The high demand for krill meal by these groups is driving the 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 meal to meet the demands of their customers. The growing popularity of krill meal 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 meal 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 a 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

2022-2032

Historical Data Available for

2017-2022

Market Analysis

US$ Mn for Value and Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Oceania
  • MEA

Key Countries Covered

  • US
  • Canada
  • Mexico
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Brazil
  • Argentina
  • South Africa
  • UAE

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, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

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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
  • MEA

By Distribution channel, the Krill Meal Market is segmented as:

  • Pharmacies/Drugstores
  • Health & Beauty stores
  • Hypermarket/Supermarket
  • Direct Selling
  • Online

Frequently Asked Questions

The global Krill Meal market will reach a valuation of US$ 1,288.3 Mn by the end of 2022.

The global Krill Meal market is forecasted to surpass US$ 1,834.9 Mn by the end of 2032.

USA, Germany, Japan, China, India, Australia, UK are the major countries driving demand for Krill Meal Market.

The US Krill Meal Market is contributing 31.6% of total value share in global market.

The Germany Krill Meal Market is contributing 27.1% of total value share in global market.

In Japan Krill Meal Market is contributing 8.2% of total market share which values in year 2022.

In India Krill Meal Market is contributing 6.1% of CAGR for latest period.

In China Krill Meal Market is contributing 5.8% of CAGR for latest period.

In Australia Krill Meal Market is contributing 2.3% of total value share in global market.

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Nandini Roy Choudhury
Principal Consultant
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