Cod Liver Oil Market Forecasts to 2028 – Global Analysis By Form (Liquids, Soft Gels, Capsules & Tablets and Other Forms), Source (Atlantic Cod, Arctic Cod, Pacific Cod and Greenland Cod), Application (Dietary Supplements, Nutraceutical, Personal Care & C

Cod Liver Oil Market Forecasts to 2028 – Global Analysis By Form (Liquids, Soft Gels, Capsules & Tablets and Other Forms), Source (Atlantic Cod, Arctic Cod, Pacific Cod and Greenland Cod), Application (Dietary Supplements, Nutraceutical, Personal Care & Cosmetics, Pharmaceutical and Other Applications) and By Geography

According to Stratistics MRC, the Global Cod Liver Oil Market is accounted for $91.83 million in 2022 and is expected to reach $177.41 million by 2028 growing at a CAGR of 11.6% during the forecast period. One of the widely used forms of omega-3 nutritional supplements is cod liver oil. It is being taken more and more since it is a good source of vitamins, minerals, proteins, and omega-3 fatty acids. Cod liver oil continues to be the most popular source of dietary supplements despite consumers gradually moving away from fish oils in favour of plant-based omega-3 supplements. This is because the market for plant-based supplements faces difficulties with different formulations and high manufacturing costs. The widespread availability of fish liver oil and the considerable research and development efforts to create novel products are anticipated to boosting the market.

According to the UN Food and Agricultural Organization, China is one of the largest exporters of fish and fishery products, with exports amounting to around USD 20.8 billion in 2020. Also, fishing and aquaculture form a major part of the economy of many countries. The growing demand for fish oil and, most importantly, fish oil omega-3 has encouraged the overall technical and financial support that is being extended to the aquaculture industry.

Market Dynamics:

Driver:

Increased Attention towards Omega-3 Dietary Supplements

Omega-3 deficiency in individuals is one of the major contributing factors to the rise in the prevalence of cardiovascular disorders in the general population. Omega 3 fatty acids promote bone and brain function, promote muscle health and function by lowering soreness and increasing strength, lessen rheumatoid arthritis symptoms, lower the risk of heart disease, and enhance eye and nerve health. Thus, it is most often utilized in sports nutrition and is s widely incorporated into nutraceuticals which are contributing in the growth of the market.

Restraint:

High Price

Despite rising product demand, various challenges limit the market's growth. One of the most important factors, among others is cost. The product is made from the liver of cod fish. Consequently, there are less raw resources available. The volume of the finished product's production is also categorized according to the liver's oil extraction rate. The product's production process is also more expensive and complicated. As a result, the product frequently costs more than other fish and fish liver oil. The penetration of the product may have been hampered by price, particularly in developing economies.

Opportunity:

Rising Number of New Product Launches

Due to the nutritional benefits offered by the cod liver oil, demand is expanding quickly across a variety of end-use application industries, which has led industry participants to introduce new goods to meet the need. Organizations are generally making investments in digitization to expand their client base. To promote their brands, market participants mostly use e-commerce and various digital media and goods. A number of industry leaders are creating websites that provide customers with comprehensive offerings which are accelerating the growth of the market.

Threat:

Adverse climatic conditions

The growth of the Cod Fish Oil Market decreases due to the upwelling of cold ocean water, which forces fish to migrate to deeper waters due to a lack of food and ultimately hinders the production of fish oil worldwide in popular fishing regions like Chile and Peru as well as in European nations like Iceland, Denmark, and Norway. Additionally, the difference between supply and demand may hinder the expansion of cod fish oil on the international market. Growing demand for cod fish oil threatens aquaculture feed supplies, while adverse environmental conditions and restrictions on fishing further hinder the market growth.

Covid-19 Impact

The Covid 19 pandemic has brought unexpected difficulties in the supply chain; The Supply-chain constraints affected the raw material availability which generated instability in selling prices. However, the product's market has expanded within its end-use application segments due to the growing need for dietary supplements and nutraceuticals among people to boost immune function and reduce health-related difficulties thereby hindering the market growth.

The Atlantic cod segment is expected to be the largest during the forecast period

The Atlantic cod segment is estimated to have a lucrative growth, due to its extensive amount of consumption as a source of food, its liver contains more than 50% fat, and it is one of the main sources for making fish liver oil. Also, countries like Norway, Iceland, Denmark, and Poland that harvest a significant amount of Atlantic cod provide us with a consistent supply of raw materials for production. It is widely used to make nutritional supplements and sports nutrition since it is full of nutrients like magnesium, vitamin B6, iron, zinc, calcium, and selenium. Moreover, it is less expensive compared to other cod fish, thus encouraging in growth of the market.

The Nutraceuticals segment is expected to have the highest CAGR during the forecast period

The Nutraceuticals segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rising number of health conscious people around the world. These nutraceuticals supplements promote cellular growth, immune system health, and bone health by providing omega-3 fatty acids and vitamins A and D. Due to the high concentration of EPA and DHA fatty acids, it also supports the customers' cardiovascular and mental health. Therefore, it is anticipated that during the forecast period, the segment might grow at an excellent rate.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing demand from the cosmetics and dietary supplement sectors. Fatty acids and other evidence based ingredients in the product assist to minimize acne and support hydration and nourishment for skin that looks young. As a result, it is now a frequent element in products for personal care and cosmetics. Additionally, the consumer movement in Asian nations toward natural skincare and cosmetics goods encourages the continuous growth of the regional industry. In addition health benefits such as speeded metabolism and aided in weight loss are propelling the market growth.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the significant demand for nutraceuticals has indeed been generated throughout European nations, including Norway, Denmark, Finland, and Germany, which boosted the consumption of the substance in Europe due to consumers' rising health awareness and desire of a healthier approach. The huge client base, strained relationship, and rising product adoption have forced firms to work to improve their product service and offering approaches in order to get a competitive edge. The major regional businesses are working tirelessly to increase their market share in Europe through a range of strategies.

Key players in the market

Some of the key players profiled in the Cod Liver Oil Market include Barlenes Organic Oils, Blueline Foods India PVT. LTD, LYSI HF, Carlson Labs, NESTLE S.A, Now Health Group, Nordic Naturals Inc, The Procter & Gamble Co, OLVEA Group, WN Pharmaceutical, Bronson Labs, Orkla ASA, Natures Aid Ltd, Mason Naturals and Power Health Science.

Key Developments:

In Nov 2022, Nestle has launched an affordable, nutritious, shelf-stable plant-based egg alternative. Nestlé is focused on developing affordable foods and beverages that incorporate nutritious plant proteins to help people achieve adequate and balanced diets.

In Nov 2022, Nestlé announced new commitments to help bring balanced diets within reach for people around the world. These commitments build on the belief that transparency is key to trust.

In March 2021, Good Hemp Enters Production Agreement with Barlean's, Barlean's will oversee the production of the uniquely blended Good Hemp Wellness CBD Softgel that will serve customers in the health and wellness market.

Forms Covered:
• Liquids
• Soft Gels
• Capsules & Tablets
• Other Forms

Sources Covered:
• Atlantic cod
• Arctic cod
• Pacific cod
• Greenland cod

Applications Covered:
• Dietary supplements
• Nutraceutical
• Personal care & cosmetics
• Pharmaceutical
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements