North American krill oil market is projected to grow at a significant CAGR during the forecast period (2020-2026). The major factors that propel the market growth in the region include the rising adoption of krill oil in dietary supplements due to various health benefits. The krill oil provides various health benefits which include that it can support cognitive, heart, immune system, or eye health. Moreover, rising aged population further provide significant adoption of dietary supplements in the region. As per Population Estimates on 1st July offered by Statistics Canada, the total population aged (20-24) was nearly 2.5 million in 2020, increased from nearly 1.9% in 2018. Likewise, the population aged 25-29, 30-34, and 35-39 years have been rising in the region.
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Additionally, the inclination towards online shopping is also supporting to drive the krill oil market growth in the country. As per the US Census Bureau, the third quarter 2020 e-commerce estimate increased 36.7% from the third quarter of 2019. Owing to the rising e-commerce sector, the rising number of online selling platforms for customers has been witnessed over the years. For instance, in September 2020, Nutraveris, a FoodChain ID company, introduced Nutraveris Online [NOL]. It is an integrated online platform that employs artificial intelligence (AI) to evaluate and monitor the US dietary supplement data and compliance.
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Market Coverage
- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Product Type and by Application
- Regions Covered- US and Canada
- Key Companies Profiled- Arista Industries Inc, Coastside Bio Resources, NutriGold Inc., BASF SE, DailyNutra LLC, Schiff Nutrition International, Inc, and others
Key Questions Addressed by the Report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
- Recovery Timeline
- Deviation from pre-COVID-19 forecast
- Most affected region/segment
- Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
North American Krill Oil Market – Segmentation
By Product Type
- Capsules
- Softgels
- Liquids
By Application
- Functional food and beverages
- Dietary supplements
- Pharmaceuticals
- Others (Animal feed)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
