According to the latest report by IMARC Group, titled “Cod Liver Oil Market by Form (Capsules, Liquid, and Others), Distribution Channel (Supermarket and Hypermarket, Convenience Store, Drug Store, Online, and Others), End Use (Dietary Supplements, Pharmaceuticals, Cosmetics and Personal Care, and Others), and Region 2023-2028,” the global cod liver oil market size reached US$ 84.6 Million in 2022. Cod liver oil is a nutritional supplement derived from the livers of codfish, particularly Atlantic cod (Gadus morhua). It has been consumed for centuries and is known for its high content of omega-3 fatty acids, vitamins A and D, and other essential nutrients. Omega-3 fatty acids, including eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), are considered essential fats that provide various health benefits. They are known to support heart health, promote brain function, reduce inflammation, and contribute to overall well-being. Vitamin A is crucial for maintaining healthy vision, promoting the immune system, and supporting the growth and development of cells and tissues. Vitamin D is essential for bone health as it aids in the absorption and utilization of calcium and phosphorus in the body. Additionally, cod liver oil is available in liquid form or in capsules. It is commonly used as a dietary supplement to provide these beneficial nutrients. It can be consumed directly or mixed with other foods or beverages.
Global Cod Liver Oil Market Trends:
Increasing health consciousness among individuals represents one of the key factors driving the growth of the market across the globe. This, coupled with the rising awareness regarding the health advantages offered by cod liver oil, such as omega-3 fatty acids, vitamins A and D, and other essential nutrients, is acting as a major growth-inducing factor. In line with this, the increasing use of cod liver oil to support heart health, improve brain function, boost immunity, and benefit overall health is driving the market growth. The market is also driven by the rising prevalence of chronic diseases, such as cardiovascular disorders, arthritis, and cognitive disorders. In addition to this, the increasing demand for supplements that support joint health, cognitive function, and overall well-being and the rising use of Cod liver oil as a dietary supplement due to its potential benefits for arthritis and improved bone health, is contributing to the market growth. Coupled with this, the rising aging population is driving the growth of the market. Apart from this, the rising nutraceutical industry including dietary supplements, functional foods, and beverages, is driving the demand for cod liver oil. Cod liver oil is widely used as an ingredient in the production of nutraceutical products due to its nutritional value which is boosting the growth of the market. Moreover, the rising disposable incomes, increasing expenditure on health and wellness products, extensive research and development (R&D) activities, and the rising trend toward natural and organic products, are some of the other factors creating a positive outlook for the market. Looking forward, the market value is projected to reach US$ 125.3 Million by 2028, expanding at a CAGR of 6.5 % during 2023-2028.
- Based on form, the market has been classified into capsules, liquid, and others. Currently, capsules hold the largest market share worldwide.
- On the basis of the distribution channel, the market has been segmented into supermarket and hypermarket, convenience store, drug store, online, and others. Currently, drug store is dominating the market across the globe.
- Based on end-use, the market has been segregated into dietary supplements, pharmaceuticals, cosmetics and personal care, and others. Presently, dietary supplements is holding the largest market share worldwide.
- On a geographical front, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Presently, Europe is dominating the market across the world.
- The competitive landscape of the market has also been examined with some of the key players being 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.
|Base Year of the Analysis
||Capsules, Liquid, Others
|Distribution Channels Covered
||Supermarket and Hypermarket, Convenience Store, Drug Store, Online, Others
|End Uses Covered
||Dietary Supplements, Pharmaceuticals, Cosmetics and Personal Care, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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