According to the latest market report published by Persistence Market Research, titled ‘Cod Liver Oil Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026′, revenue generated from the global cod liver oil market has been estimated to be valued around US$ 68.6Mn in 2018, which is projected to increase at a CAGR of 3.7% during the forecast period (2018-2026).
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Cod Liver Oil Market: Overview
The subsequent increase in health consciousness and awareness among the population is the major driving factor for companies to bring alternative and attractive product offerings into their product portfolios to satisfy the needs of their broad range of customers. Cod liver oil is enriched with vitamins and nutrients, due to which, it is gaining worldwide attention for its application in dietary supplements and nutraceuticals. Cod liver oil is rich in vitamin A and D3, which is scarce in other dietary sources. The cod liver oil market has gained attention due to its richness in omega-3 fatty acids; EPA, and DHA. In developed and developing countries, the increasing demand for cod liver oil omega-3 leads to tough competition among companies to gain a strong base. Companies are bringing innovation into their product lines. In addition, companies are adding various flavors to cod liver oil products to provide better taste to their customers. Players in the market like WN Pharmaceuticals, OLVEA Fish Oils, LYSI hf, and others are well-known for their wide range of cod liver oil products. These companies are also promoting their cod liver oil products online as well as through other channels, hence, have high visibility and premium placement on retail shelves.
Increasing Demand for Omega-3 to Boost Growth of the Global Cod Liver Oil Market
Omega-3 fatty acid which are abundantly present in cod liver oil, prevent certain cancer, heart attacks, and strokes, ensuring the safety of its consumers. Doctors and dieticians advice the use of cod liver oil supplements for better cardiac health. The emerging demand for dietary supplements, including infant formula and clinical nutrition, is boosting the demand for cod liver oil. The growing importance of omega-3 fatty acids in diets, and diversifying nutritional needs for cardiac health, eye health, and other health benefits has laid strong growth opportunities for cod liver oil.
Cod Liver Oil for Pregnant Women
Doctors prescribe cod liver oil supplements to pregnant women, which will be beneficial to both, the baby and the mother. Omega-3 is helpful for both, the neurological and early visual development of the baby. Cod liver oil containing omega-3 is also found to be helpful for pregnant women in preventing pre-term labor and delivery. In addition, it also lowers the risk of preeclampsia.
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Global Cod Liver Oil Market: Competition Dashboard
Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, and recent developments in cod liver oil offerings. Global cod liver oil key players include Natures Aid Ltd., OLVEA Fish Oils, Omega Protein Corporation, J. R. Carlson Laboratories Inc., Nordic Naturals Inc., Now Health Group Inc., WN Pharmaceuticals Ltd., Orkla Health AS, Blueline Foods India Pvt Ltd., and others.
The Asia Pacific except Japan Cod Liver Oil Market Expected to Witness Predominant Growth
Being a developing economy and with an increased number of food processing industries, Asia Pacific holds the highest market share in the cod liver oil market as compared to other regions, due to the increasing consumption of cod liver oil, factors such as prescription by doctors, and inclining application of cod liver oil in pharmaceutical industries. It is anticipated that the Asia Pacific except Japan region would witness a high market share in the cod liver oil market – 24.7% during the forecast period.
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