Krill oil supplementation in China on the rise – Aker BioMarine CEO

Anti-Aging Medicine
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Anti-Aging Medicine
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According to CEO Matts Johansen, the Norwegian firm’s sales revenue in China has been growing by 80 per cent each year over the past two years.

This extent of growth did not come overnight for the firm, as it has been on the ground in China since 2011.

Johansen believes that a better understanding of krill oil and the entry of more brand owners into the krill oil category has expanded the market.

“We’ve been having an office in China since 2011, so we’ve been investing long term in the country. But I would say that it’s only in the last two or three years where sales really started to peak in China and that’s how it is when you do business in China.

“It’s a long-term [commitment]…You need to launch the first brands, you need to start educating the consumers, the demand needs to come up, and then more brands jump on, and you can see that positive spiral.

“It’s the time now where more brands have launched and starting to meet the critical mass of consumption,” ​he said.

Some of the brands using Aker BioMarine’s krill oil include VIK and NY-O3.​ Both brands belong to Function (Qingdao) Marine Technology.

Anti-ageing has been noted as one of the main reasons for krill oil supplement consumption amongst the Chinese, especially against the backdrop of the government’s Healthy China 2030 initiative.

“I think different brands are positioning the benefits of krill oil differently. But I think this whole anti-ageing position is particularly interesting in China. It’s something that the Chinese are very focused on.

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