According to a new report, published by KBV research, The Global Cod Liver Oil Market size is expected to reach $182.7 million by 2031, rising at a market growth of 9.3% CAGR during the forecast period.
The cod liver oil market refers to the global trade and consumption of cod liver oil, which is derived from the liver of cod fish, primarily Atlantic cod (Gadus morhua) and Pacific cod (Gadus macrocephalus). Cod liver oil has been consumed for centuries due to its rich nutritional content and potential health benefits. Cod liver oil’s applications span a broad spectrum, ranging from traditional medicinal uses to modern dietary supplements. It was used as a remedy for various ailments, including rheumatism, arthritis, and rickets, owing to its rich content of omega-3 fatty acids, vitamins A and D, and other essential nutrients.
The Arctic segment would capture a CAGR of 9.4% during (2024 - 2031). With global warming, there has been a shift in fish distribution patterns, including cod. As water temperatures rise, cod populations expand northward into previously inaccessible Arctic waters. This expansion opens up new opportunities for fishing and harvesting cod liver oil in the Arctic.
The Dietary Supplements segment is leading the Global Cod Liver Oil Market by Application in 2023; thereby, achieving a market value of $75 million by 2031. Cod liver oil supplements provide a convenient way for people to incorporate the nutrients in cod liver oil into their daily routine. Compared to obtaining these nutrients from food sources like fatty fish, cod liver oil supplements offer a more accessible and consistent source of essential fatty acids and vitamins. The increasing production of supplements in Australia translate into high demand for the cod liver oil.
The Soft Gels segment would register a CAGR of 8.9 % during the forecast period. Cod liver oil has a distinct taste and odor that may be off-putting to some individuals. Soft gel capsules effectively mask the taste and odor of the oil, improving palatability and enhancing consumer acceptance. Also, soft gel capsules allow for precise dosing of cod liver oil, ensuring that consumers receive the correct amount of nutrients with each intake.
Full Report: https://www.kbvresearch.com/cod-liver-oil-market/
The Europe region dominated the Global Cod Liver Oil Market by Region in 2023; thereby, achieving a market value of $79 million by 2031. The North America region is poised to grow at a CAGR of 9.1% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 10% during (2024 - 2031).
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