The Krill Meal Market to Reach $259.7 Million by 2027 in the short term and $416.5 Million by 2035 Globally, at 6.0% CAGR: Allied Market Research

The growing need for nutrient-dense, sustainable animal feed is expected to propel the krill meal market growth. The high protein content, omega-3 fatty acids, and astaxanthin in krill meals will continue to be essential components as the aquaculture sector grows, especially in Asia-Pacific, Europe, and North America. These nutrients improve fish growth, health, and immunity.

/EIN News/ -- Wilmington, Delaware, April 14, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Krill Meal Market -Global Opportunity Analysis and Industry Forecast, 2024-2035", valued at US$208.4 million in 2023. With a projected CAGR of 6.0% from 2024 to 2035, the market is expected to reach US$416.5 million by the end of 2035. The growing demand for clean-label food products and natural flavor enhancers is propelling the growth of the krill meal industry.

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Market Introduction:

The krill meal market is expanding steadily due to rising demand from the pet food, animal feed, and aquaculture sectors. Antarctic krill (Euphausia superba) is the source of krill meal, a powdered product valued for its high protein content, omega-3 fatty acids (EPA & DHA), and astaxanthin. It is an excellent feed component that improves fish and animal development, immunity, and feed conversion efficiency.

Sustainability initiatives to control krill harvesting, led by the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR), and guarantee ethical fishing methods are among the market's major advancements. Companies such as Aker BioMarine and Rimfrost AS are investing in environmentally friendly krill harvesting and innovative processing technologies to increase product quality and availability.

The aquaculture sectors in China, India, and Indonesia are driving the market's dominance in Asia-Pacific, while the demand for high-end pet food and livestock nutrition is rising in North America and Europe. Long-term growth is ensured by ongoing sustainability initiatives and technological developments that continue to influence market trends.

Report Overview:

The krill meal market is segmented on the basis of source, application, form, and region. Depending on the source, the market is classified into Antarctic krill and North Pacific krill. By application, it is segregated into aquafeed, animal feed, pharmaceuticals & nutraceuticals, and dietary supplements. Depending on the form, it is segregated into powder and pellets.

Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA).

• By source, the Antarctic krill segment dominated the global krill meal market in 2023 and is anticipated to maintain its dominance during the forecast period.
• By application, the aquafeed segment dominated the global krill meal market in 2023, due to its high nutritional value, digestibility, and functional benefits for farmed fish and shrimp.
• By form, the powder segment dominated the global krill meal market in 2023 and is anticipated to maintain its dominance during the forecast period.

Report Coverage & Details:

Report Coverage	Details
Forecast Period	2024–2035
Base Year	2023
Market Size in 2023	$208.4 million
Market Size in 2035	$416.5 million
CAGR	6.0%
No. of Pages in Report	259
Segments Covered	Source, Application, Form, and Region
Target Regions/Countries	North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA)
Driver	Rising Demand in Aquaculture & Animal Feed Nutritional Benefits & Superior Feed Efficiency
Opportunity	Expansion into Functional Foods & Nutraceuticals
Restraint	High Cost Compared to Alternatives

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Factors Affecting Market Growth & Opportunities:

The growing demand for premium aquafeed, animal feed, and pet food are some of the major drivers influencing the krill meal market. Krill meal is a popular component for enhancing fish growth, immunological function, and feed efficiency in aquaculture, especially in the production of salmon and shrimp, because it is high in omega-3 fatty acids, premium protein, and astaxanthin. Its growth in pet food and animal nutrition, where premium formulas are becoming more popular with health-conscious customers, is also being fueled by the growing emphasis on natural and sustainable feed ingredients.

In addition, technological developments in the harvesting and processing of krill are opening opportunities for better product quality, shelf life, and bioavailability. The usage of encapsulated krill meal in specialty feeds is growing because of its unique formulations and contribution to nutrient stability. Demand is also being driven by farmers searching for environmentally friendly feed alternatives and the growing emphasis on sustainable aquaculture operations.

The market is dominated regionally by Asia-Pacific, primarily because of the rapid expansion of aquaculture in China, India, and Indonesia. The growing interest in high-performance animal nutrition and pet food, meantime, creates prospects in North America and Europe. For market participants, investments in R&D innovations, strategic alliances, and sustainable sourcing keep opening new growth opportunities.

Major Challenges in Industry & Solutions:

Strict fishing regulations enforced by the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) to avoid overexploitation of Antarctic krill are one significant barrier. These rules restrict harvesting quotas, which impacts raw material supply and drives fluctuating prices. Investing in sustainable fishing methods, like Aker BioMarine's Eco-Harvesting technology, which reduces environmental effects and guarantees a steady supply while adhering to conservation regulations, is one way to address this concern.

Supply chain interruptions brought on by logistical limitations, political instability, and climate change present a further challenge. The delivery of krill meal is impacted by harsh Antarctic weather and global shipment delays, which results in irregular supplies and higher prices. Companies are concentrating on regional storage facilities, sophisticated logistics planning, and strategic alliances with distributors to reduce this. For instance, Rimfrost AS has increased the size of its storage facilities to guarantee that krill meal will always be available, even in the event of supply chain interruptions. Industry participants may overcome these obstacles and satisfy the rising demand for krill meal in the aquaculture, pet food, and livestock feed sectors by putting sustainable sourcing procedures into place and strengthening the stability of the supply chain.

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Regional Insights

The aquaculture industry's rapid expansion in China, India, Indonesia, and Vietnam is driving the largest krill meal market in the Asia-Pacific region. Shrimp and fish farms make extensive use of krill meal because of its high protein and omega-3 content, which promotes growth rates, strengthens the immune system, and increases feed efficiency. Additionally, the region is seeing a rise in the use of livestock feed and pet food, meeting the growing need for high-quality animal nutrition products. Obstacles include supply chain challenges, price fluctuations, and legal constraints on krill fishing. The growth of sustainable sourcing methods and government assistance for aquaculture development present opportunities. The Ministry of Agriculture in China, for instance, has been promoting sustainable aquaculture methods and the use of feed ingredients that are high in nutrients, such as krill meal.

The aquaculture, pet food, and livestock feed sectors are the main drivers of the substantial krill meal market in Europe. Salmon farming is a significant application, and important consumers include nations like Norway, Scotland, and Denmark. Organizations such as the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) have enforced stringent controls on krill harvesting because European consumers and companies place a high value on sustainability, clean-label products, and traceable supply chains. Since krill meals contain astaxanthin, which improves the health of pets' skin and coat, there is an increasing demand for high-quality pet food. Aker BioMarine's recent entry into the European market serves as a prime example of this, highlighting the company's dedication to sustainable krill harvesting and enhanced product innovation through marine biotechnology research.

The rising pet food market and growing awareness of high-quality animal nutrition are driving the growing acceptance of krill meal in North America, especially in the United States and Canada. Krill meal is also used in the aquaculture industry, especially in Canada, to improve fish growth and feed efficiency. Due to consumer demand for high-end, omega-3-rich pet diets, the U.S. pet food sector is rapidly introducing functional ingredients like krill meal. However, market expansion is hampered by high prices, a lack of regional supplies, and reliance on imports. The development of affordable krill-based recipes and strategic alliances between krill suppliers and North American pet food companies present an opportunity. The increasing demand for sustainable marine-based products was demonstrated in 2023 when Neptune Wellness Solutions, a Canadian company, teamed up with top pet food producers to incorporate krill meal into their recipes.

Key Players:

Product innovation and sustainability initiatives are key strategies in the krill meal market from 2021–2024. For example, Aker BioMarine launched QRILL Aqua, a functional feed ingredient aimed at improving fish health and growth in aquaculture. Rimfrost AS invested in sustainable krill harvesting technology to minimize environmental impact.

The major players in the krill meal industry include Qingdao Kangjing, British Aqua Feeds, UK Bait Company, GT Premium Baits, ZVS International, BEST LLC, Beyond Fishery, Florida Aqua Farms Inc., Krill Arctic Foods, and Aker BioMarine ASA.

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Key Strategies Adopted by Competitors

• In February 2024, Aker BioMarine declared that its QRILL Aqua product line would be expanded to the North American market to increase aquaculture feed efficiency and sustainability.
• In January 2024, a novel high-protein krill meal product was introduced by Qingdao Kangjing Marine Biotechnology Co., Ltd. to increase feed conversion rates for use in livestock and aquaculture feed.
• In December 2023, a top Japanese seafood manufacturer and Rimfrost AS collaborated to provide high-quality krill-based feed for environmentally friendly shrimp production.
• In November 2023, Beijing Goke Agriculture Technology Co., Ltd. extended its krill meal processing facility to boost production capacity and satisfy growing demand from the aquaculture sector.

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