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Cod Liver Oil Market Research Report Information by Product Type (Liquid, Capsules, Tablets & Soft Gels, Powder), Distribution Channel (Store-based {Supermarkets & Hypermarkets, Specialty Stores, Others}, Non-store-based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2030


ID: MRFR/F-B & N/3195-HCR | 90 Pages | Author: Pradeep Nandi| April 2024

Global Cod Liver Oil Market Overview


The Cod Liver Oil Market is projected to be valued at USD 550.8 million by the end of 2030  with registering a CAGR of 9.1% during the forecast period of 2022 - 2030 The market operations have been driven by the efforts related to the research and development that play an important role in channelizing towards better growth and procurement practices. These practices are likely to enhance the extraction process of the fatty acids that help in the sustainable streamlining process of the entire quantum of technology and value chain presented by the global industry trends during the forecast period.


The healthcare service providers and experts are increasing the recommendations related to the intake of cod liver oil market and the result of this is that there has been a substantial rise in the consumption of fish oil across various verticals.  


Covid 19 Analysis of Cod Liver Oil Market


The uncertainties brought in by the pandemic have introduced a tough time for the businesses, markets, and their manufacturing and production units. The outbreak of the virus was declared a pandemic owing to the immense amount of healthcare emergencies prevailing in both the developed and developing regions across the globe. During the ongoing forecast period, the market expected a rise in the cod liver oil market trends as the Cod Liver oil is witnessing a major acceptance across the global target audience as it has many kinds of health benefits to offer. Owing to the obnoxious rate of the pandemic and the transmission rate of the positive rate, the global governments have been imposing strict regulations and lockdown that has negatively affected the market demand and reduced the ability of the market to attain profits during the period. Also, the lockdown has forced people to leave their workplaces and go to their hometowns. This has resulted in the non-availability of skilled workforce, resources, and raw materials that had resulted in a negative impact on the market operations.


To help the businesses and global market cover the losses incurred during the pandemic, the government has rolled regulations that go parallel with the market operations. The changing lifestyle and health trends will push the target audience to demand the market products on a large scale and hence, give rise to the favorable market scenario.


Market Dynamics


Drivers


Peruvian anchovy is recognized as having a great concentration of DHA and EPA fatty acids that are present in many fish varieties. Sometimes, fish is eaten as a whole, but the majority of the Peruvian anchovy can be turned in the form of fish oil for capsules and feeding, alongside fishmeal and in aqua-feeds, as well. Consumptions and recommendations have increased which is one of the major reasons that is providing opportunities for the cod liver oil market to thrive upon during the forecast period.


Opportunities


Owing to the huge rate of the pandemic spread, the rising public health awareness is one of the major trends that will help cod liver oil market to flourish during the ongoing forecast period. The market players are increasing their investment and investing the same to develop and offer alternative and attractive products to help the target audience meet their needs on daily basis. Also, the growing demand for cod liver oil omega-3 in both the developing and developed nations is pushing for the presence of a strong presence between the rising stake of companies on an international scale.


Technology Analysis


The rising demand for nutritional supplements inclusive of the clinical nutrition food items and infant formulas will help the market audience to realize the need of including cod liver oil in diets in various forms. The cod liver oil market demand is giving rise to various significant opportunities owing to the presence of fatty acids in the diet and the degree of diversification in nutritional needs for body parts like eyes and heart have many benefits on the way. Omega-3 has gained recognition to prevent premature work and delivery for pregnant women.


Study Objectives



  • To understand the scope of the cod liver oil market operations by carrying out in-depth research of the market and the distribution of the resources across various global locations. This will help in understanding the revenue potential of the market segments and hence, study the impact of the operations carried out.

  • To analyze the impact of the pandemic on the market operations and functioning of the regions to overcome the impact and hence, grow as per the projections laid down by the market during the forecast period.

  • To have an idea about the rising competition amongst the cod liver oil market players and have a look at the recent developments undertaken by the players that will help both the regions and the international players to opt for dominant market growth.

  • To understand the target audience of the cod liver oil market and their demand patterns that will help in the expansion of the market trends and grow as per the predictions of the industry leaders for the ongoing forecast period.


Segmentations


During the forecast period, the cod liver oil market analysis predicts that a rising acceptance of the products and their willingness to replace standard oils with using cod liver oil in their daily life. The market segmentation should be understood to have an idea about the revenue potential possessed by them. The market has been segmented based on the following:


Based on the product type available


To meet the vibrant needs of the cod liver oil market audience, the market players are producing and dealing in products like powders, gels, liquids, and others like capsules, tablets, and soft chewable.


Based on the distribution channel opted


To reach the ultimate audience, cod liver oil market players use both the store-based and the non-store-based channels that help in making a reliable degree of product availability for people during the forecast period.


Based on the global geographical regions


Geographically, cod liver oil market trends are more prevalent in 4 major mushrooming regions across the globe. These are North American market players, the European countries, the APAC region, across the rest of the world (RoW).


Regional Analysis


The cod liver oil market forecast predicts a rising degree of competition amongst the various participating regions across the globe. Drawing a comparison within the competitive regions, the report research predicts that the APAC will grow to become the region that will have the highest market share during the forecast period that ends in 2028. The rising population in this region is increasing the recognition of the market products and rising dependence of the audience on these products. There are many additional factors like the doctors’ prescribing the use of such oil and the application of the oil in pharmaceutical and medical industries are adding to the availability of abundant opportunities in the APAC region during the forecast period.


Competitive Landscape


The cod liver oil market outlook shows that the market growth will be a result of the efforts of the prominent players during the forecast period. The market players are as follows:



  • Omega Protein Corporation

  • BASF SE

  • Nordic Naturals Inc.

  • Croda International Plc

  • OLVEA Fish Oils

  • GC Rieber

  • Carlson Laboratories Inc.

  • Blueline Foods India Pvt Ltd.


Recent Developments



  • Most of the companies that belong to the European countries are opening their doors for new entrants and are subsequently, on the lookout for new opportunities for expansion in the form of mergers, acquisitions, part-ventures, and joint-ventures during the forecast period.

  • Omega-3 is well associated with the use of cod liver oil market and the health benefits associated with the same as the reduction in the risk of preeclampsia and benefits to pregnant women and on the skin and diet of people are being recognized by the target audience located in the APAC region. This will help the market to propel at an excellent rate during the forecast period.

  • Most of the prominent cod liver oil market players like OLVEA fish oils, and LYSI gf, alongside WN Pharmaceuticals amongst others are opting for the promotion of their products through online portals and other channels. As a result, the products are enjoying very high visibility and also, positioning amongst the top quality products in various retail and manufacturing stores.


Report Outlook


The cod liver oil market report discusses and highlights the market dynamics that will help the market through potential opportunities to grow during the period. The report helps in having a deep analysis of the performance of the market segments that are catering to the needs of a larger global audience. The market report covers the recent developments undertaken by the market players.

Report Attribute/Metric Details
  Market Size    USD 550.8 Million
  CAGR   9.1% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units    Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product Type, By Distribution Channel, and By Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Omega Protein Corporation, BASF SE, Nordic Naturals Inc, Croda International Plc, OLVEA Fish Oils, GC Rieber, Carlson Laboratories Inc, Blueline Foods India Pvt Ltd.
  Key Market Opportunities   The rising public health awareness is one of the major trends
  Key Market Drivers   Consumptions and recommendations have increased of COD Liver Oil


Frequently Asked Questions (FAQ) :

Cod Liver Oil Industry Size is Expected to reach USD 550.8 Million during forecast period 2022 to 2030

Cod Liver Oil Market share is anticipated to grow at a 9.1% CAGR during the forecast period of 2022–2030

Omega Protein Corporation, BASF SE, Nordic Naturals Inc, Croda International Plc, OLVEA Fish Oils, GC Rieber, Carlson Laboratories Inc, Blueline Foods India Pvt Ltd.

The market trends are expected to soar high owing to the rising demand for these products because of the variety of health benefits offered.

The APAC region is expecting to grow and attain the highest market share.

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