Cod Liver Oil Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Cod Liver Oil Market
The cod liver oil market size was valued at USD 95.8 million in 2023, and the market is now projected to grow from USD 103.78 million in 2024 to USD 220.47 million by 2032, exhibiting a CAGR of 9.88% during the forecast period of 2024-2032.
The pandemic put lots of pressure on the industry. These are the difficulties encountered in the supply chain that resulted in raw material deficit and the volatility of the price. On the other hand, strong consumer demand for food supplements and nutraceuticals with the intent to enhance immune function and to reduce health related problems will ensure the end-use application segment to witness increased demand. The aftermath of the pandemic caused a noticeable but temporary disruption in the cod liver oil market growth.
As a result of the Omega-3 supplement market becoming more widespread and acquisitive, cod liver oil demand is rising. Consequently, it is possible to speak of the expansion of cod liver oil market share on a global scale. Reportedly, the number of heart cases among many people across the population has been piercingly increasing lately, with omega-3 deficiency in the individuals being the theory reason for this incident. It contributes to wider intake of dietary supplements such as cod liver oil among people who are not willing to experience the adverse symptoms.
In addition, cod liver oil is being incorporated in sports nutrition commodities. This is a breakthrough in the nutritional counterpart, with anti-inflammatory properties of fish oil. As a result of what have been outlined it is used more than anything else in sports nutrition. Omega-3 fatty acids are largely necessary nutritional supplements referred to as the building blocks of muscle strength, lowering muscle soreness, and assisting in the overall muscle health. As a result, this strategy would be largely applied in nutraceutical products.
Comprehensive Analysis of Cod Liver Oil Market
The cod liver oil market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by source, by application, and by form. The sources include: Atlantic, Arctic & others. However, the applications include: Dietary Supplements, Pharmaceuticals, Nutraceuticals, and Personal Care & Cosmetics. On the basis of forms, the market is segmented into Liquid, Soft Gels, and Capsules & Tablets.
The Europe region leads the cod liver oil market by benefitting a market size of USD 43.65 million in 2023 due to rising consumers' health awareness and pursuit of a balanced lifestyle among the population in the region.
The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include: LYSI Iceland (Iceland) Nestle Health Science (Switzerland) Olvea Fish Oils (France) Vital Nutrients (U.S.) Power Health Products Ltd (U.K.) Mason Naturals (U.S.) Carlson Laboratories Inc. (U.S.) WN Pharmaceuticals Ltd. (Canada) NOW Health Group, Inc., (U.S.) Nordic Naturals Inc. (U.S.).
In January 2024, Wiley’s Finest launched Cod Liver Oil+ in new formula packages that contain vitamin D, Vitamin E and omega 3s EPA and DHA. The product helps to improve cognitive health, stress, immunity and eye health.
Segmentation Table
Global Cod Liver Oil Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 9.88% from 2024-2032
Historical Period 2019-2022
Unit Value (USD Million)
Segmentation By Source, Application, Form, and Region
By Source Atlantic
Arctic
Others (Pacific, Greenland, and others)
By Application Dietary Supplements
Pharmaceuticals
Nutraceuticals
Personal Care & Cosmetics
By Form Liquid
Soft Gels
Capsules & Tablets
By Region North America (By Source, Form, Application, and Country)
- U.S.
- Canada
- Mexico
Europe (By Source, Form, Application, and Country)
- U.K.
- Germany
- France
- Spain
- Italy
- Nordic Countries
- Rest of Europe
Asia Pacific (By Source, Form, Application, and Country)
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
South America (By Source, Form, Application, and Country)
- Brazil
- Argentina
- Rest of South America
Middle East & Africa (By Source, Form, Application, and Country)
- South Africa
- UAE
- Rest of Middle East & Africa
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