Market Size
Europe Krill Oil Market reached US$ 62.68 million in 2024 and is expected to reach US$ 239.60 million by 2032, growing with a CAGR of 18.23% during the forecast period 2025-2032.
The Europe krill oil market is experiencing steady growth, driven by increasing consumer awareness of its superior health benefits, rising demand for omega-3 supplements, and advancements in sustainable sourcing. For instance, the market players invented vegan omega-3 supplements made from algae that give the same types of benefits and can be consumed by vegan consumers.
Additionally, in October 2022, the European Commission authorized DSM's newly launched plant-based omega-3 solution for consumption and use in fish and meat alternatives across the EU. According to DSM, the product will improve the nutritional profile of plant-based products and allow for next-generation products that mimic those of animal-based fish products.
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Market Scope
| Key Metrics | Insights |
| Top Growth Driver | Strategies Adopted by the Companies |
| Trend | Dominance of Dietary Supplements |
| Segments Covered | Form, Application, Sales Channel and Country |
| Fastest Growing Country | Germany |
| Largest Country | Italy |
| Major Players | Aker Biomarine, Rimfrost AS, Nyo3 International AS |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
Market Dynamics
Driver: Strategies Adopted by the Companies
- Strategic initiatives such as product launches, partnerships, and acquisitions are key drivers of the Europe krill oil market, enabling companies to expand their product portfolios, enhance distribution networks, and strengthen market positioning.
- For instance, in 2024, Aker BioMarine has signed a distribution agreement with global specialty ingredients provider, Barentz International. The nutraceutical company's range of omega-3 rich krill oil products will now be more widely available across Europe.
Restraint: Unstable Supply Chains
- Unstable supply chains in the Europe krill oil market are driven by climate change, regulatory gaps, geopolitical risks, and rising sustainability concerns. Warming waters in the Southern Ocean have reduced krill populations by up to 40%, impacting suppliers like Aker BioMarine and limiting product availability.
Market Segment Analysis
Capsules are the primary driver of the European krill oil market, as they are the most convenient and widely accepted form for omega-3 supplementation. European consumers prefer capsules due to their ease of consumption, precise dosage, and extended shelf life, making them the dominant choice in pharmacies and online health stores. Krill oil in liquid form is also gaining traction, particularly among consumers who prefer direct intake or mix it with food.
Meanwhile, krill oil powder is increasingly used in fortified foods and sports nutrition, though its market share remains smaller. Gummies, while growing in popularity among younger demographics and those seeking chewable alternatives, still lag behind capsules due to lower omega-3 concentrations.
Market Geographical Share
The European krill oil market thrives on health-conscious demand, strict regulations, and sustainable sourcing. Consumers favor its high bioavailability for heart, brain, and joint health, driving nutraceutical growth. CCAMLR policies ensure eco-friendly krill harvesting, aligning with Europe's environmental standards. Companies emphasize sustainability to attract conscious buyers, boosting market expansion.
Denmark, with its strong aquaculture and omega-3 research, plays a crucial role in developing and distributing krill-based supplements. Additionally, the UK, with companies like Reckitt Benckiser Group Plc and Nutrigold, has seen rising demand for premium krill oil formulations in the dietary supplement sector.
Major Players
Aker BioMarine is one of the major players in the European krill oil market, while other companies also contribute significantly to the industry's growth. These include Rimfrost AS (Norway), Nyo3 International AS (Norway), Nutrigold (UK), Arctic Light Products AS (Norway), Reckitt Benckiser Group Plc (UK), Ergomax (Netherlands), Coastside Bio Resources (Europe), Neosino (Europe), and Monde Selection (Europe).
Key Developments
- In May 2024, NYO3, an online krill oil brand debuted at Vitafoods Europe. The brand launched NYO3 Royal-Boost Antarctic Krill Oil, featuring 1300mg krill oil per capsule with exclusive water-soluble technology for enhanced absorption. This innovation marks a new era in cellular-level nutrition.
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