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.
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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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