Press release
Cod Fish Oil Market Report 2024: Understanding Market Dynamics, Health Benefits, and Industry Growth Prospects
Cod Fish Oil Market
As per the report, 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 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%.
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Rising Chronic Disease Prevalence Boosts Cod Fish Oil 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.
Innovative Omega-3-Enriched Products Drive Cod Fish Oil Market Expansion
Major companies operating in the cod fish oil market are focusing on developing new products, such as omega-3-enriched cod liver oil, to cater to increasing consumer demand for high-quality, health-enhancing supplements and to differentiate their offerings in a competitive market. Omega-3-enriched cod liver oil is designed to provide a higher concentration of omega-3 fatty acids, which are essential for heart health and brain function. For instance, in July 2022, True Westfjords, an Iceland-based cod liver oil manufacturer, launched Dropi Cod Liver Oil Tonic, which features a unique blend of omega-3 fatty acids, a high concentration of EPA and DHA, and a gentle, easy-to-swallow capsule. This product is sourced from the local daily wild catch of fresh fish that swim in the deep blue waters of the North Atlantic Ocean, one of the cleanest fishing grounds in the world.
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
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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
Contents of the report:
1. Executive Summary
2. Cod Fish Oil Market Report Structure
3. Cod Fish Oil Market Trends And Strategies
4. Cod Fish Oil Market - Macro Economic Scenario
5. Cod Fish Oil Market Size And Growth
…..
27. Cod Fish Oil Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Sales, means the sales volume of Cod Liver Oil
Revenue, means the sales value of Cod Liver Oil
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