Market Overview
Cod liver oil is a thick, yellow oil derived from liver of cod fish. It is rich in vitamin A, vitamin D, omega 3, and fatty acid. Additionally, it is used for the treatment of various health issues such as high cholesterol, high blood pressure, heart disease, arthritis pain, depression, autoimmune disease, and many more. Increasing health issues among the rising population is driving the growth of the global cod liver oil market. Owing to its high nutritional value, it is gaining popularity among various industries such as pharmaceuticals, cosmetics, animal feed, food & beverages, and others. It is a source of nutrition for humans as well as animals.
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Market Forecast
Cod liver oil is available in different forms such as capsules, oral liquid, powder, and others. The market is experiencing exponential growth owing to health benefits associated with the cod liver oil and its gaining popularity in the health conscious population. Escalating demand for nutritious products is driving the cod liver oil market. Moreover, rising concern for healthy skin among consumers is adding fuel to the growth of the cod liver oil market.
Furthermore, growing concern for increasing animal protein in livestock feed is contributing to the growth of the cod liver oil market. Additionally, growing application of cod liver oil in various industries is propelling its market growth. However, overdose of cod liver oil can cause harmful side effects such as belching, heartburn, bad breath and nosebleeds, which may restrain the growth of the cod liver oil market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.5% of cod liver oil market during the forecast period 2017-2023.
Downstream analysis
Cod liver oil is segmented on the basis of form such as capsules, oral liquid, powder, and others. Among all, the capsules segment is dominating the global market. Owing to the gel attribute of capsules, they are applicable in various product line with ease. Moreover, it is gaining popularity among consumers as a dietary supplement.
On the basis of application, the cod liver oil is segmented into pharmaceuticals, cosmetics, animal feed, food & beverage, and others. Among all, pharmaceuticals leading segment in the market. Owing to its high nutritional value and its ability to cure various rising health issues among the population, it has gained high acceptability in the pharmaceutical industry. However, 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.
Competitive analysis
The major players in the cod liver oil market
Seven Seas Ltd (U.K.)
LYSI hf (England)
Nordic Naturals, Inc. (U.S.)
Mason Vitamins (U.S.)
Twinlab Corporation. (U.S.)
Country Life, LLC (U.K.)
Power Health (U.S.)
Cod liver oil is expected to grow substantially during the forecast period. It is rich in nutrition and a major source of treatment for various rising health issues, which is increasing its application in various industries. Increasing focus on R&D likely to contribute further to the growth of the cod liver oil market.
Regional Analysis
The global cod liver oil market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe is dominating the market followed by North America owing rising awareness for healthy lifestyle. Moreover, in North America, the U.S. is the dominating cod liver oil market.
Asia Pacific is projected to witness high growth during the forecast period. In Asia Pacific, China is among the major exporters of cod liver oil. Moreover, increasing population followed by rising health issues in developing countries such as china, India, and Japan is boosting the growth of cod liver oil in Asia Pacific. Moreover, increasing application of cod liver oil in various industries has opened doors for its growth in rest of the world.
Market Segmentation
Cod liver oil market is segmented on the basis of form, application, and region.
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