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At what pace is the krill meal market growing, and what is its estimated value?
The krill meal market size has grown strongly in recent years. It will grow from $1.3 billion in 2024 to $1.39 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to the growing demand for sustainable seafood, the growing aquaculture industry, rising health consciousness, the growing pet food industry, and regulatory support for sustainable practices.
The krill meal market size is expected to see strong growth in the next few years. It will grow to $1.77 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to the rising popularity of marine-derived ingredients, increased focus on animal welfare, increased consumer education, rising demand for natural ingredients, and growth of the dietary supplements market. Major trends in the forecast period include technological advancements, the creation of functional meals, a focus on sustainability, a shift toward online sales, and regulatory compliance.
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What are the top drivers to the rising demand in the krill meal market?
The growing pet food industry is expected to propel the growth of the krill meal market going forward. The pet food industry encompasses the production, distribution, and sale of various food products designed for pets, including dogs, cats, birds, and other domestic animals. The pet food industry is attributed to increasing pet ownership, the humanization of pets, rising awareness of pet nutrition, and the demand for premium and specialized pet food products. Krill meal helps the pet food industry by providing a high-quality source of protein, omega-3 fatty acids, and essential nutrients that support pet health, particularly skin, coat, and joint health, while also enhancing the palatability of pet food products. For instance, in June 2024, the European Pet Food Industry Federation (FEDIAF), a Belgium-based food and beverage services organization, reported that annual sales of pet food products were €27.7 billion ($30.61 billion) in 2021 and increased to €29.2 billion ($32.27 billion) in 2022. Therefore, the growing pet food industry is driving the krill meal market.
How is the krill meal market segmented?
The krill meal market covered in this report is segmented –
1) By Type: Whole Krill Meal; De-oiled Krill Meal
2) By Source: Antarctic Krill; Other Krill Species
3) By Form: Frozen; Dried; Pelletized
4) By Distribution Channel: Direct Sales; Distributors
5) By Application: Aquaculture; Livestock Feed; Pet Food; Pharmaceuticals; Other Applications
Subsegments:
1) By High-Protein Whole Krill Meal: Low-Protein Whole Krill Meal; Whole Krill Meal For Animal Feed; Whole Krill Meal For Aquaculture; Whole Krill Meal For Pet Food
2) By De-oiled Krill Meal: High-Protein De-oiled Krill Meal; Low-Fat De-oiled Krill Meal; De-oiled Krill MealFor Animal Feed; De-oiled Krill Meal For Aquaculture; De-oiled Krill Meal For Nutritional Supplements
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Who are the top competitors in the krill meal market?
Major companies operating in the krill meal market areOrkla Group, Daesang Corporation, BioMar Group A/S, Shandong Luhua Group Co. Ltd., TripleNine Group, Ifremer, Aker BioMarine, KD Pharma Group, Nautika, Rimfrost, Superba, Neptune Krill, Colpex International, CYT INTERNATIONAL PTE LTD, Krill Canada Corporation, Norwegian Fish Oil AS, NWC Naturals Inc., Sirius Food, Tharos, Brio Foods, La Merced
What significant trends should we anticipate in the krill meal market over the forecast period?
Major companies operating in the krill meal market are focusing on developing approved products such as highly nutritious krill-based ingredients to gain a competitive advantage. Highly nutritious krill-based ingredients refer to products derived from krill, such as krill meal or krill oil, which are rich in proteins, omega-3 fatty acids, and antioxidants such as astaxanthin. For instance, in June 2022, Aker BioMarine, a Norway-based biotech company, received United States Food and Drug Administration (FDA) clearance for its QRILL Aqua and QRILL High Protein (QHP) products for use in freshwater and marine salmonids. This approval enables access to safe, sustainable, and highly nutritious krill-based ingredients for salmon feeds, which support the production of healthy, high-quality fish. This approval allows the U.S. salmon farming industry to benefit from the proven health and nutritional benefits of krill.
Which regional trends are influencing the krill meal market, and which area dominates the industry?
Asia-Pacific was the largest region in the krill meal market in 2024. The regions covered in the krill meal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Krill Meal Market Report 2025 Offer?
The krill meal market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Krill meal is a high-protein feed ingredient made from small, shrimp-like crustaceans harvested primarily from the Antarctic Ocean. It is rich in omega-3 fatty acids, proteins, antioxidants, and essential nutrients. Due to its nutritional benefits, krill meal is primarily used in aquaculture and animal feed to enhance growth and health in fish, shrimp, and livestock.
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