Regional Analysis
Market Regional Insights:
- North America accounted for a market share of 38.9% in 2023. Some of the key application sectors in the region include pharmaceuticals, infant formula, and supplemental & functional foods. Product demand for functional food and beverage applications is anticipated to be driven by rising consumer fitness preferences in the U.S., Canada, Mexico, and Canada. The demand for krill oil supplements in North America is also anticipated to increase in the near future as a result of expanding health benefits and the launch of various dietary supplement product forms.
- Asia Pacific is expected to witness a CAGR of 10.5%. Krill oil as dietary supplements is increasingly popular among middle-aged consumers in China for eye and immune benefits. Rising demand for supplements in countries like India, China, Singapore, South Korea, Japan, and Australia has fueled the growth of omega-3 in the Asia Pacific region.
- Europe is predicted to witness steady growth across the forecast period. Increasing New product launches with innovative formulations and delivery formats, and increased online product delivery services across developed countries in Western Europe including Italy, the U.K., Germany, France, and Spain will positively influence the market growth in the region.
Figure 1. Global Krill Oil Market Share (%), By Region, 2024
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
U.S.: 
U.K. : 
India : 
