Cod Fish Oil Market Expected to Reach $1.1 Billion by 2031 | CAGR of 10%

Global Cod Fish Oil Market Size was valued at $432.40 million in 2021, and is estimated to reach $1.1 billion by 2031, growing at a CAGR of 10% from 2022 to 2031.

According to top-level CXOs, cod fish oil is considered one of the rich sources of omega-3 fatty acids and vitamins. The rise in health awareness among consumers leads to the consumption of cod fish oil. In the global fish oil market, the demand for cod fish oil is high. Owing to its medical benefits such as chronic diseases, mental health, and cardiovascular disease. Omega 3 is an essential fatty acid; that cannot be made by the human body. Cod liver oil has anti-inflammable properties, which can reduce the risk of heart disease, obesity, inflammatory bowel diseases, arthritis, Alzheimer's, and psoriasis, and also help to fight cancer. Hence, the rise in demand for long-chain omega-3 fatty acids primarily drives the global cod fish oil market growth. Moreover, Atlantic cod and Pacific cod have major consumer and producer countries in the global market. The rise in demand for omega 3 in human nutrition applications, such as supplements, and pharmaceutical nutraceuticals foster the demand.

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Cod is a demersal fish species that belongs to the family Gadidae, mostly found at the bottom of the sea or lakes. Cod liver oil is manufactured from the liver of the cod fish. Cod liver oil is a rich source of omega-3 fatty acids, vitamin A, and vitamin D. U.S. is one of the significant consumers of cod liver oil. The demand for cod liver oil in pharmaceutical applications has increased due to the high concentration of omega-3 fatty acids, vitamin A, and vitamin D in it. Moreover, regular cod liver oil can reduce the risk of heart failure, anxiety, eye diseases, chronic diseases, and glaucoma. Hence, the demand for omega-3 fatty acids, vitamin A, and vitamin D can increase the consumption of cod fish oil.

Moreover, the governments of various countries have imposed quota regulations, which limit fishing and in turn, hamper cod fish oil production. In addition, the quota manages the sustainability of the fishing of the Cod Fish Oil Industry. The European Union has imposed country-wise TAC (Total Allowable Catches) and quota to strictly regulate the volume and frequency of fishing activities in the region. As a result, the manufacturers do not get enough raw fish for oil extraction, which results in a production shortfall. these quotas can impact on the Cod Fish Oil Market Growth in the forecast period.

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By region, Asia-Pacific was the highest revenue contributor, accounting for $247.3 million in 2021, and is estimated to reach $597.3 million by 2031, with a CAGR of 9.4%. Rising disposable income and a large population increase the consumption of cod fish oil. these Cod Fish Oil Market Trends will boost the demand of cod fish oil.

key players operating in the cod fish oil industry include BARLEAN'S ORGANIC OILS, LLC, BLUELINE FOODS INDIA PVT. LTD, CARLSON LABS, LYSI HF, NESTLE S.A, NORDIC NATURALS INC, NOW HEALTH GROUP, INC, OLVEA GROUP, THE PROCTER & GAMBLE COMPANY, and WN PHARMACEUTICALS.

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