Krill Meal Market Report 2025

This Krill Meal market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

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.

The expansion of the pet food industry is projected to drive the growth of the krill meal market in the future. The pet food industry involves the production, distribution, and sale of food products for pets, including dogs, cats, birds, and other domestic animals. This industry is growing due to factors such as increasing pet ownership, the trend of humanizing pets, heightened awareness of pet nutrition, and the rising demand for premium and specialized pet foods. Krill meal benefits the pet food industry by offering a high-quality protein source, omega-3 fatty acids, and essential nutrients that support pet health especially for skin, coat, and joint health and enhance the palatability of pet food. For example, the European Pet Food Industry Federation (FEDIAF) reported in June 2024 that pet food sales rose from €27.7 billion ($30.61 billion) in 2021 to €29.2 billion ($32.27 billion) in 2022. Thus, the growing pet food industry is propelling the krill meal market.

Leading companies in the krill meal market are concentrating on developing advanced products, such as highly nutritious krill-based ingredients, to gain a competitive edge. These ingredients include krill meal and krill oil, which are rich in proteins, omega-3 fatty acids, and antioxidants such as astaxanthin. For instance, in June 2022, Aker BioMarine, a biotech company based in Norway, received FDA clearance for its QRILL Aqua and QRILL High Protein (QHP) products for use in both freshwater and marine salmonids. This approval allows for the use of safe, sustainable, and highly nutritious krill-based ingredients in salmon feeds, supporting the production of healthy, high-quality fish and benefiting the U.S. salmon farming industry with the nutritional advantages of krill.

In July 2024, American Industrial Partners (AIP), a U.S.-based financial services firm, acquired Aker BioMarine for an undisclosed sum. This acquisition enhances AIP’s maritime expertise and expands its footprint in the growing aquaculture sector. It positions AIP to advance the global development of krill-based solutions in aquaculture, animal health, and sustainability. Aker BioMarine, based in Norway, specializes in biotechnology research and provides krill-based products and ingredients.

Major companies operating in the krill meal market are Orkla 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.

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. The countries covered in the krill meal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Krill meal is a high-protein feed ingredient derived from small, shrimp-like crustaceans primarily harvested from the Antarctic Ocean. It is rich in omega-3 fatty acids, proteins, antioxidants, and essential nutrients. Due to its nutritional advantages, krill meal is mainly used in aquaculture and animal feed to promote growth and health in fish, shrimp, and livestock.

The main types of krill meal are whole krill meal and de-oiled krill meal. Whole krill meal is produced by grinding entire krill into a powder or meal form without removing any oil or components. Its sources include Antarctic krill among others. It is available in various forms such as frozen, dried, and pelletized. Distribution channels include direct sales and distributors, and its applications span aquaculture, livestock feed, pet food, pharmaceuticals, and more.

The krill meal market research report is one of a series of new reports that provides krill meal market statistics, including krill meal industry global market size, regional shares, competitors with a krill meal market share, detailed krill meal market segments, market trends and opportunities, and any further data you may need to thrive in the krill meal industry. This krill meal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The krill meal market consists of sales of krill oil, krill powder, and krill protein concentrate. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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