Global Cod Liver Oil Market: Overview
Cod liver oil is a popular health supplement rich in omega 3 fatty acid, vitamin A, and vitamin D. The global cod liver oil market has risen impressively over the last couple of years and is expected to maintain the momentum in the next couple of years as well. This is because of its rising usage in a number of end use industries. Those include animal feed, cosmetics, food and beverage, and others.
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Currently, main suppliers in the global cod liver oil market are Peru, Denmark, Norway, and China. While these nations are major exporters, Norway is considered a major importer.
Global Cod Liver Oil Market: Trends and Opportunities
There are various unique perceived benefits of cod liver oil driving the global cod liver oil market. Foremost among them is their high nutritional quotient. In children, as a nutritional supplement, those can aid in brain and vision development. In adults, cod liver oil helps in tackling high blood pressure, high cholesterol, arthritis pain, heart disease, autoimmune disease, depression, and others.
Another factor serving to drive the global cod liver oil market is its widespread uptake in various end use industries. Apart from that, growing concern over healthy skin, alongside rising incorporation of animal protein in livestock feed, is also leading to sales in the market.
On the flipside, too much of cod liver oil can result in side effects such as heartburn, belching, nosebleeds, and bad breath. Awareness about the same is deterring sales growth to an extent in the global cod liver oil market.
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Global Cod Liver Oil Market: Market Potential
The products in the global cod liver oil market are available in various forms. Those include oral liquid, capsules, powder, and others. Of them, the segment of capsules is believed to be seeing maximum uptake. This is mainly because of the ease of use. Consumers are increasingly purchasing it as dietary supplements.
The end use industry of pharmaceutical could be at the forefront of driving the global cod liver oil market. One major reason behind it is the ability of cod liver oil to cure various health issues. Demand from the cosmetic industry is examining a steady growth in the cod liver oil market based on rising awareness of its attribute to provide a healthy skin.
Global Cod Liver Oil Market: Regional Outlook
Regionally, Europe and North America are believed to be substantially contributing to the global cod liver oil market. This is because of the high degree of awareness about the product in the regions and also the considerable consumerism. Apart from the two regions, Asia Pacific cod liver oil market is also emerging as a potential one. This is because of the rising middle class population in the region and the proliferating sales channels.
Global Cod Liver Oil Market: Competitive Landscape
Prominent participants in the global cod liver oil market include Seven Seas Ltd, LYSI hf, Nordic Naturals, Inc., Mason Vitamins, and Twinlab Corporation. Key companies in the market are adopting novel growth strategies such as collaborations and product innovation. These strategies are likely to open new growth avenues for savvy companies in the global cod liver oil market.
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Highlights of the report:
- A detailed analysis of key segments of the market
- Recent developments in the market’s competitive landscape
- Detailed analysis of market segments up to second or third level of segmentation
- Historical, current, and projected future valuation of the market in terms of revenue and/or volume
- Key business strategies adopted by influential market vendors
- Outline of the regulatory framework surrounding and governing numerous aspects of the market
- Growth opportunities in emerging and established markets
- Recommendations to market players to stay ahead of the competition