This krill fishery market report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The krill fishery market report provides detail information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions. It provides market dynamics, including the drivers, restraints, challenges, threats and the potential growth opportunities. Strength and weakness of the leading industry players are included in this krill fishery market research report. Consumption volume, consumption value and sale price analysis of the global market by geography, type, application and industry verticals.
The krill fishery market report is an extensive analysis of the business sphere, that has been touted to be one of the most profitable business verticals in recent times. The study enumerates of the total valuation of this business space currently, in addition to presenting a succinct segmentation of the industry, the expansion opportunities, as well as its regional expanse. In the end, this krill fishery market report includes the major driving factors impacting the revenue scale of the market and details about the surging demand for the product from the major geographies.
Data Bridge Market Research analyses that the market is growing with the CAGR of 5.20% in the forecast period of 2021 to 2028 and is expected to reach USD 555.94 billion by 2028.
Definition
The krill fishery is a commercial fishery that harvests krill, which are small shrimp-like crustaceans that live in the world's oceans. Krill are a type of crustacean, along with shrimp, crabs, and lobsters. There are around 85 different species of krill
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Key Growth Drivers:
The increase in the prevalence of life threatening and gastrointestinal diseases and the rising awareness among people about the benefits of krill products including presence of omega 3 for humans as well as pets are the major factors driving the krill fishery market. The growing geriatric population, presence of hypertension and unhealthy lifestyle preferences of people coupled with the advancements in the krill fishery market to enhance the products benefits influence the krill fishery market. The high utilization of krill oil in infant formula owning to the presence of eicosapentaenoic corrosive (EPA) and docosahexaenoic corrosive (DHA) helping in developing the mental health of new born babies and the growth in popularity of tablets and capsules made by krill oil for sports nutrition products and skin health products accelerate the krill fishery market growth. Additionally, the extensive use of the krill in functional food and beverages, increase in demand from pet and animal feed sector and the expansion of food, rise in food expenditure, rapid urbanization and expansion of food and beverage industry positively affect the krill fishery market. Furthermore, product innovations, rising demand for pet food products and sustainability in krill harvesting extend profitable opportunities to the krill fishery market players in the forecast period of 2021 to 2028.
On the other hand, the high production cost because of the various processes such as extraction, oil filtration, separation and refining which leads to high product cost in the market is the factor expected to obstruct the krill fishery market growth. The impact of COVID-19 in the production and distribution levels of the product is projected to challenge the krill fishery market in the forecast period of 2021 to 2028.
The report emphasizes the participation of key entities, notably:
- Superba Krill
- ConnOils LLC
- Orochem Technologies Inc.
- NutraCode LLC
- Jedwards International, Inc.
- Omega Prot ein Corporation
- China National Fisheries (Group) Corporation
- ALFA LAVAL
- AKER BIOMARINE ANTARCTIC AS
- Schiff Vitamins
- neptunecorp
- Norwegian Fish Oil AS
- NutriGold
- RIMFROST AS
- Qingdao Kangjing Marine Biotechnology Co., Ltd
- NWC Naturals Inc.
- Ergomax
- Daeduck FRD Inc.
- Enzymotec Ltd
- Olympic Seafood AS
Major Points in the Report
- Understanding the entirety of the krill fishery market landscape thoroughly.
- Exploring the leading entities in this sector, delving into their range of products and core approaches.
- Examining the prominent geographical areas where krill fishery market demonstrates significant growth.
- Keeping abreast of the latest shifts and advancements within the industry.
- Identifying specific areas or markets with high potential and promising expansion opportunities.
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Key Market Segmentation
By Product (Krill Oil, Krill Meal, Krill Pet Food), Species (Euphausia Superba, Euphausia Pacificia)
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