Krill oil has made some important gains in the omega-3 market during the past few years. In fact, data recently collected and analyzed by Aker BioMarine show that krill oil’s omega-3 market share increased from 12% in 2012 to 20% in 2016.
Furthermore, consumer awareness of krill oil among omega-3 users increased from 20% in 2012 to nearly 50% in 2016. While pockets of the omega-3 market contracted for various reasons during the same period, Aker BioMarine said it’s confident the best days for krill oil are ahead.
According to the company’s latest Annual Report, 2015 was considered a historic year for Aker BioMarine, marking its most exciting growth phase since launching the original Superba Krill Oil several years ago.
As the krill oil category evolves, Aker BioMarine said it would continue to develop new products and different oil grades, helping to diversify product portfolios, while meeting the needs of consumers globally.
“In 2015, we set a clear course for our passionate and capable organization,” said Matts Johansen, CEO, Aker BioMarine. “We started this journey to walk the talk by driving change in our culture, simplifying business processes, and aligning our organization towards one common goal and strategy. We aim to be an integral part of our customers’ success, we will continue to drive scientific discovery and innovation, and we will further strengthen our product quality and cost leadership in the Antarctic Krill supply chain.”
Aker BioMarine generated $105 million in revenue in 2015, which yielded an EBITDA of $25.7 million. Furthermore, many of Aker BioMarine’s customers experienced growth and commercial success with their krill products.
“With our passion for and focus on krill, we believe we are in the best position to combine comprehensive product knowledge with market insight,” Johansen said. “Accordingly, in 2015, we decided to build a new marketing and communication approach, delivering insight-based concepts and ideas for our customers. Even if this is a new way of working for Aker BioMarine and for many of our customers, we believe that in the long term this is the only way for an ingredient company to succeed.”