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Global Cod Liver Oil Market to Reach USD 94 Million by 2026, Aided by the Rising Health Awareness

According to a new report by EMR titled, ‘Global Cod Liver Oil Market Report and Forecast 2021-2026’, the global market for cod liver oil is expected to grow at a CAGR of 4% between 2021 and 2026 to attain USD 94 million by 2026.

The global market for cod liver oil is being driven by the growing awareness about the various health benefits offered by the product. Cod liver oil helps in the development of the brain and can also be used to relieve joint pain and treat rickets. Being a rich source of vitamin D, it promotes strong and healthy bones and is especially important for individuals living far away from the equator. Studies demonstrate that people who regularly eat fish are at a much lower risk of heart disease as it contains omega-3 fatty acid content. The growing prevalence of heart disease, which is one of the leading causes of death worldwide and affects over 17.5 million people annually, is resulting in increased consumption of food products rich in omega-3. The United States is one of the leading consumers of the product. This can be attributed to the high consumer purchasing power and the increased focus of consumers on health and wellness across the region. The developing regions like the Asia Pacific and the Middle East and Africa are expected to provide enhanced growth opportunities for the market growth over the forecast period owing to the growing cases of nutritional deficiency in the region.

The growing focus of manufacturers to diversify their product range is further boosting the industry growth. Additionally, the growing investments by key players in product marketing and innovation are expected to further boost the industry growth. The easy availability of cod liver oil through online platforms like Amazon.com, Inc. (NASDAQ: AMZN) and Alibaba Group Holding Ltd (NYSE: BABA) is expected to significantly contribute to the market growth over the forecast period.

Market Breakup by Form, Distribution Channel, Application, and Region:

  • The various forms of the product include capsules and liquid, among others.
  • By distribution channel, the industry can be divided into supermarket and hypermarket, convenience store, drug store, and online, among others.
  • On the basis of application, the industry can be segmented into dietary supplements, pharmaceuticals, and cosmetics and personal care, among others.
  • Region-wise, the global market for cod liver oil can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the growing health concern among consumers and the increasing awareness regarding the health benefits of cod liver oil.
  • The growing consumption of dietary supplements by consumers to fulfill the daily nutritional requirements is further accelerating the industry growth. 
  • The rising consumer disposable incomes and the growing retail sector, particularly in emerging nations, are also aiding the market growth.
  • The new product launches and the growth of the major end use sectors are expected to provide a further push to the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for cod liver oil for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the forms, distribution channels, applications, and major regions of cod liver oil.
  • The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cod liver oil market include NOW Health Group, Inc., Carlson Laboratories, Inc., Nordic Naturals, Solgar Inc., and WN Pharmaceuticals Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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