Overview and Scope
Cod fish oil refers to oil extracted from the liver of cod fish and is rich in omega-3 fatty acids, vitamins A and D, and antioxidants. It is used as a dietary supplement and has numerous health benefits, including reducing inflammation, improving heart health, and supporting bone health.
Sizing and Forecast
The cod fish oil market size has grown rapidly in recent years. It will grow from $0.55 billion in 2023 to $0.62 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to increasing awareness of mental health benefits, rising demand for nutritional supplements, increasing fatty acids in the diet, rising health awareness among the masses, increasing consumption of cod liver oil, and growing demand for omega-3 supplements.
The cod fish oil market size is expected to see rapid growth in the next few years. It will grow to $1.00 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to increasing chronic diseases, increasing supplement consumption, increasing demand for cod fish oil, increasing prevalence of chronic diseases, growing demand for cod liver oil omega-3, and growing demand for dietary supplements. Major trends in the forecast period include technological advancements in extraction and processing, product innovations, the development of pharmaceutical applications, and sustainability and ethical sourcing.
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Segmentation & Regional Insights
The cod fish oil market covered in this report is segmented –
1) By Product: Liquid, Capsules, Tablets, Softgels, Powder
2) By Source: Atlantic Cod, Arctic Cod, Pacific Cod, Greenland Cod
3) By Distribution Channel: Supermarket And Hypermarket, Convenience Store, Drug Store, Online, Other Distribution Channels
4) By Application: Pharmaceutical, Nutraceuticals, Personal care And cosmetic, Dietary supplements
Asia-Pacific was the largest region in the cod fish oil market in 2023. The regions covered in the cod fish oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of chronic diseases is expected to propel the growth of the cod fish oil market going forward. The burden of chronic diseases is rising due to aging populations, lifestyle changes, and the increased prevalence of risk factors such as poor diet, physical inactivity, and environmental influences. Cod fish oil, rich in omega-3 fatty acids, helps manage chronic diseases by reducing inflammation and supporting heart health. Its vitamins A and D further aid in bone health and immune function. For instance, in January 2023, according to the National Library of Medicine, the US-based largest biomedical library, the number of people 50 years of age and older who have at least one chronic illness is predicted to rise from 71.522 million in 2020 to 142.66 million in 2050, a 99.5% increase. Simultaneously, it is anticipated that the number of people with multimorbidity is going to grow from 7.8304 million in 2020 to 14.968 million in 2050, a 91.16% increase. Therefore, the increasing prevalence of chronic diseases drives the codfish oil market.
Key Industry Players
Major companies operating in the cod fish oil market are Nestle S.A., BASF SE, The Procter & Gamble Company, Sanofi S.A., Orkla ASA, NOW Foods Group Inc., Omega Protein Corporation, WN Pharmaceuticals Ltd., Nordic Naturals Inc., Seven Seas Ltd., Country Life, Groupe OLVEA, Carlson Labs, Mason Vitamins, Barlean’s Organic Oils LLC, Mara Renewables Corporation, Marenco Limited, Blueline Foods India Pvt Ltd., LYSI HF, Shinepro Life Sciences Private Limited
The cod fish oil market report table of contents includes:
1. Executive Summary
2. Cod Fish Oil Market Characteristics
3. Cod Fish Oil Market Trends And Strategies
4. Cod Fish Oil Market – Macro Economic Scenario
5. Global Cod Fish Oil Market Size and Growth
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32. Global Cod Fish Oil Market Competitive Benchmarking
33. Global Cod Fish Oil Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cod Fish Oil Market
35. Cod Fish Oil Market Future Outlook and Potential Analysis
36. Appendix
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