Persistence Market Research Pvt. Ltd is released new forthcoming report on title "Global Market Study on Krill Oil: Effective Than Other Marine Oils Since Safer, Healthier, More Potent and More Absorbable
New York, NY -- (SBWIRE) -- 10/20/2016 -- According to a latest market report titled "Global Market Study on Krill Oil: Effective than Other Marine Oils since Safer, Healthier, More Potent and More Absorbable" published by Persistence Market Research, the krill oil market has been estimated to be valued at US$ 300.7 Mn by the end of 2015, and is expand at a CAGR of 12.9% from 2015 to 2022, to account for US$ 703.0 Mn by 2022.
Krill oil is oil extracted from tiny crustaceans, which are found in all the world's oceans. These shrimp-like crustaceans make up the largest biomass available on the earth. Euphasia Superba and Euphasia Pacifica are the two main species used for krill oil extraction. Oil can be extracted by solvent extraction or solvent-free extraction techniques. Increasing consumer inclination towards the maintenance of healthy lifestyle through consumption of omega-3 fatty acids and a nutritious diet is a major trend driving the growth of the krill oil market.
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Currently, the global krill oil market is principally driven by factors such as increasing health concerns among consumers, product promotions through trade shows, and the introduction of innovative products with krill oil. However, factors such as high costs, lack of proper regulations, preference for established fish oils, and lack of consumer awareness about alternatives to krill oil are expected to restrain market growth. The global krill oil market revenue is projected to expand at a CAGR of 12.9% from 2015 to 2022, to account for US$ 703.0 Mn by 2022.
On the basis of form, the krill oil market has been segmented into liquid and tablets. The tablets segment is expected to account for highest market share as compared to the other form segment. Tablets segment is further sub-segmented into soft gels and capsules. Among the tablet sub-segments, soft gel is expected to account for 69.4% market share by 2015 end, and register a moderate CAGR of 13.4% during the forecast period (2015–2022). The capsule sub-segment has been estimated to account for 30.6% market share in 2015.
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On the basis of applications, the market is segmented into dietary supplements, functional food & beverages, pharmaceuticals, pet food & animal feed and others (infant formula). The dietary supplements segment is expected to account for 40.3% market share by 2015 end. Revenue from this segment is expected to expand at CAGR of 13.7% during the forecast period. Increased awareness about the benefits of krill oil for infant formula application is expected to drive the growth of the others (infant formula) segment, registering a CAGR of 12.9% during the forecast period.
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