According to the recent research report titled ‘Global Krill Fishery Market - Analysis By Fishing Purpose , Species, By Region, By Country : Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global krill fishery market was remunerated at USD 354.71 million in 2019 and is anticipated to amass modest gains during 2020-2025.
 

Technological advancements, rising cognizance regarding health benefits of omega 3 for human and pet health, along with increasing pervasiveness of gastrointestinal and life-threatening diseases are the key factors driving the growth of global krill fishery market.
 

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The industry expansion is further stimulated by unhealthy lifestyle, hypertension prevalence, and growing elderly population. Increasing significance of krill oil, capsules, and tablets for sports nutrition and for skin health is projected to contribute to the overall market outlook.
 

As per the report, COVID-19 outbreak has diminished the production capacity of vendors resulting in limited revenue generation. However, the companies are taking calculated steps to mitigate significant negative impacts. The establishment of new technology and sustainability standards in krill harvesting sector is projected to fuel the market expansion.
 

Speaking of fishing purpose, global krill fishery market from krill oil segment is poised to accrue notable returns in the forthcoming years, attributable to increasing use of the product in infant formula owing to presence of docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) which enhance mental health of newborn child.
 

Based on species type, Euphausia Superba segment held the largest share of global krill fishery industry in the recent past, credible to its widespread usage in pet, aquaculture, and human food. Also known as Antarctic krill, the product is acclaimed for possessing rich content of astaxanthin and long-chain omega 3 fatty acids.
 

From the regional perspective, Americas krill fishery industry accrued massive revenues in the past and is expected to grow substantially over the analysis period. Surging instances of blood pressure diseases, growing diabetic population, and increasing number of chronic heart diseases patients are boosting the product demand. Moreover, diversified product portfolio offered by major players in an attempt to fulfill customer demands is also adding traction to the regional market growth.
 

Major contenders impacting global krill fishery market trends are Omega Protein Corporation, China National Fisheries (Group) Corporation, Alfa Laval AB, Rimfrost AS, and Aker BioMarine.