Press release
Global Cod Fish Oil Market Projected to Grow at 12.8% CAGR, Reaching $1.13 Billion by 2029
Cod Fish Oil
What Is the Expected CAGR for the Cod Fish Oil Market Through 2025?
The market size for cod fish oil has seen swift expansion in the recent past. The valuation is expected to rise from $0.62 billion in 2024 to $0.7 billion in 2025, representing a compound annual growth rate (CAGR) of 13.0%. The notable growth during the historical time frame is due to heightened awareness of mental health advantages, accelerating demand for nutritional supplements, inclusion of more fatty acids in diets, surging health consciousness among the general public, increased intake of cod liver oil, and a growing market appetite for omega-3 supplements.
What's the Projected Size of the Global Cod Fish Oil Market by 2029?
In the coming years, the market size of cod fish oil is anticipated to witness a swift expansion. It is projected to reach $1.13 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.8%. The boom during the forecast period can be credited to the rise in chronic diseases, the surge in the consumption of supplements, the heightened demand for cod fish oil, escalating cases of chronic diseases, growing preference for cod liver oil omega-3, and increased need for dietary supplements. Key trends within the forecast period encompass progress in extraction and processing technologies, innovation in products, expansion of pharmaceutical applications, and the emphasis on sustainability and ethical sourcing.
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Top Growth Drivers in the Cod Fish Oil Industry: What's Accelerating the Market?
The escalating presence of chronic health conditions is predicted to fuel the expansion of the cod fish oil market. This rise in chronic diseases is due to factors such as aging populations, changes in lifestyle, as well as an increased prevalence of risk factors like poor nutrition, lack of physical activity, and environmental elements. Cod fish oil, with its abundant omega-3 fatty acids, can aid in the management of chronic illnesses through inflammation reduction and heart health support. Additionally, it offers vitamins A and D, contributing to bone health and immunity. For example, data from the National Library of Medicine, the largest biomedical library in the US, predicts that by January 2023, the population aged 50 and above affected by at least one chronic illness will likely increase from 71.522 million in 2020 to 142.66 million in 2050 - a leap of 99.5%. Concurrently, the count of individuals with multimorbidity is projected to rise from 7.8304 million in 2020 to 14.968 million in 2050 - a surge of 91.16%. Consequently, the ever-increasing occurrence of chronic diseases is boosting the cod fish oil market.
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What Trends Will Shape the Cod Fish Oil Market Through 2029 and Beyond?
Key players in the cod fish oil market are concentrating on introducing new products like omega-3-fortified cod liver oil, to meet an upswing in consumer appetite for premium, health-promoting supplements, and to stand out in a competitive market. Omega-3-enhanced cod liver oil is intended to deliver a greater concentration of omega-3 fatty acids, imperative for cardiovascular health and cognitive functions. For example, in July 2022, True Westfjords, an Icelandic cod liver oil producer, introduced Dropi Cod Liver Oil Tonic, distinguished by a special mix of omega-3 fatty acids, an abundant concentration of EPA and DHA, and a mild, easy-to-ingest capsule. This product stems from the local daily wild catch of fresh fish found in the profound blue of the North Atlantic Ocean, one of the purest fishing areas globally.
What Are the Main Segments in the Cod Fish Oil Market?
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
Subsegments:
1) By Liquid: Unflavored Liquid Cod Fish Oil, Flavored Liquid Cod Fish Oil
2) By Capsules: Standard Cod Fish Oil Capsules, Enteric-Coated Capsules
3) By Tablets: Standard Cod Fish Oil Tablets, High-Potency Cod Fish Oil Tablets
4) By Softgels: Regular Softgels, High-Concentration Softgels
5) By Powder: Powdered Cod Fish Oil for Dietary Supplements, Powdered Cod Fish Oil for Functional Foods
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Which Top Companies are Driving Growth in the Cod Fish Oil Market?
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
Which Regions Will Dominate the Cod Fish Oil Market Through 2029?
Asia-Pacific was the largest region in the cod fish oil market in 2023. The regions covered in the cod fish oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Notes:
Sales, means the sales volume of Cod Liver Oil
Revenue, means the sales value of Cod Liver Oil
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