Cod Liver Oil Market

Market Overview:

The global cod liver oil market size reached US$ 84.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 125.3 Million by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028. The rising health consciousness among the masses, various product innovations, and extensive research and development (R&D) activities represent some of the key factors driving the market.

Cod liver oil is a nutritional supplement extracted from the liver of cod fish. It is a rich source of vitamins A and D and omega-3 fatty acids, such as eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). It is widely available for human consumption and is characterized by mild flavor and pale and straw-colored appearance. Cod liver oil exhibits anti-inflammatory, antioxidant, immune-boosting, and nutrient-rich properties. It is used to hydrate skin and protect it from damage due to its nourishing and moisturizing properties. It also helps to improve heart health, memory, concentration, brain function, and mood, prevent vision problems, depression, and arthritis and maintain strong bones. As a result, cod liver oil finds extensive applications in dietary supplements and pharmaceuticals, cosmetics, and personal care industries.

Cod Liver Oil Market Trends:

The rising health consciousness among the masses is one of the key factors driving the market growth. Cod liver oil is widely adopted as it is a rich source of vitamins A and D and omega-3 fatty acids. In line with this, the widespread product adoption due to the increasing incidences of chronic diseases is favoring the market growth. Cod liver oil is widely used to treat chronic diseases, cancer, and cardiovascular diseases (CVDs) while aiding to reduce anxiety, inflammation, and joint pain. Apart from this, the introduction of flavored cod liver oil, such as lemon-flavored and green apple, which offers an appealing taste to consumers, is providing an impetus to the market growth. Moreover, manufacturers are focusing on the launch of cod liver oil in soft gel form, which is easier to swallow and convenient to take on the go, which, in turn, is acting as another growth-inducing factor. Additionally, the increasing demand for omega-3 supplements that assist in reducing the risk of heart disease, improving brain function, and reducing inflammation is positively influencing the market growth. Other factors, including rising expenditure capacities of consumers, extensive research and development (R&D) activities, the widespread product adoption among working women owing to urbanization and a hectic lifestyle, the easy product availability across e-commerce platforms, and the implementation of various government initiatives to promote cod liver oil products derived from sustainable sources, are creating a positive outlook for the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global cod liver oil market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on form, distribution channel and end use.

Form Insights:

• Capsules
• Liquid
• Others
   

The report has provided a detailed breakup and analysis of the cod liver oil market based on the form. This includes capsules, liquid and others. According to the report, capsules represented the largest segment.

Distribution Channel Insights:

• Supermarket and Hypermarket
• Convenience Store
• Drug Store
• Online
• Others
   

A detailed breakup and analysis of the cod liver oil market based on the distribution channel has also been provided in the report. This includes supermarket and hypermarket, convenience store, drug store, online and others. According to the report, drug store accounted for the largest market share.

End Use Insights:

• Dietary Supplements
• Pharmaceuticals
• Cosmetics and Personal Care
• Others
   

The report has provided a detailed breakup and analysis of the cod liver oil market based on the end use. This includes dietary supplements, pharmaceuticals, cosmetics and personal care and others. According to the report, dietary supplements represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for cod liver oil. Some of the factors driving the Europe cod liver oil market included the rising health consciousness among the masses, introduction of various flavors, and the implementation of various government initiatives. 

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global cod liver oil market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Carlson Laboratories Inc, Country Life LLC (Kikkoman Corporation), LYSI hf., Mason Vitamins, Natures Aid Ltd. (Thornton & Ross Ltd), Nordic Naturals Inc., Norwegian Fish Oil AS, NOW Foods, OLVEA Fish Oils (Groupe OLVEA), Orkla ASA, Solgar Inc. (Nestlé S.A.), WN Pharmaceuticals Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global cod liver oil market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global cod liver oil market?
• What is the impact of each driver, restraint, and opportunity on the global cod liver oil market?
• What are the key regional markets?
• Which countries represent the most attractive cod liver oil market?
• What is the breakup of the market based on the form?
• Which is the most attractive form in the cod liver oil market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the cod liver oil market?
• What is the breakup of the market based on the end use?
• Which is the most attractive end use in the cod liver oil market?
• What is the competitive structure of the global cod liver oil market?
• Who are the key players/companies in the global cod liver oil market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cod liver oil market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global cod liver oil market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cod liver oil industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.