Global Cod Liver Oil Market: Snapshot
Cod liver oil is rich in nutrition and hence is utilized in pharmaceutical businesses as a medicinal ingredient. Cod liver oil is present in the form of capsules or soft gels in the item portfolio of several organizations. The cod liver oil market is relied upon to rise decently during the forthcoming years. This is credited to rising awareness and number of health conscious people. Cod liver oil is generally fabricated in European nations that have bigger coastlines, similar to the UK, Norway, and Iceland. The most purchasers of cod liver oil are in the U.S., because of surging concerns regarding health and fitness among the global population.
In the global fish oil market, the demand regarding cod liver oil is high because of its advantages for cardiovascular illnesses and mental health. Cod liver oil has different applications in food and pharmaceutical sector for making dietary and nutraceutical supplements. Cod liver oil is extracted from the liver of cod fish aka Gaddus morhua, that are generally found in the Atlantic and Arctic ocean. In the cod liver oil market, the demand for cod liver oil significantly originates from North America and Europe. Europe is the world’s biggest maker of cod liver oil in the global market. Because of its numerous medical advantages, the demand for cod liver oil is expanding in the global fish oil market. It would be foreseen that there would be higher returns for investments in cod liver oil later on.
There has been considerable rise in food supplement utilization among the people. Because of urbanization and occupied lifestyle, females consume more dietary enhancements than men.
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Global Cod Liver Oil Market: Overview
Cod liver oil is a popular health supplement rich in omega 3 fatty acid, vitamin A, and vitamin D. The global cod liver oil market has risen impressively over the last couple of years and is expected to maintain the momentum in the next couple of years as well. This is because of its rising usage in a number of end use industries. Those include animal feed, cosmetics, food and beverage, and others.
Currently, main suppliers in the global cod liver oil market are Peru, Denmark, Norway, and China. While these nations are major exporters, Norway is considered a major importer.
Global Cod Liver Oil Market: Trends and Opportunities
There are various unique perceived benefits of cod liver oil driving the global cod liver oil market. Foremost among them is their high nutritional quotient. In children, as a nutritional supplement, those can aid in brain and vision development. In adults, cod liver oil helps in tackling high blood pressure, high cholesterol, arthritis pain, heart disease, autoimmune disease, depression, and others.
Another factor serving to drive the global cod liver oil market is its widespread uptake in various end use industries. Apart from that, growing concern over healthy skin, alongside rising incorporation of animal protein in livestock feed, is also leading to sales in the market.
On the flipside, too much of cod liver oil can result in side effects such as heartburn, belching, nosebleeds, and bad breath. Awareness about the same is deterring sales growth to an extent in the global cod liver oil market.
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Global Cod Liver Oil Market: Market Potential
The products in the global cod liver oil market are available in various forms. Those include oral liquid, capsules, powder, and others. Of them, the segment of capsules is believed to be seeing maximum uptake. This is mainly because of the ease of use. Consumers are increasingly purchasing it as dietary supplements.
The end use industry of pharmaceutical could be at the forefront of driving the global cod liver oil market. One major reason behind it is the ability of cod liver oil to cure various health issues. Demand from the 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.
Global Cod Liver Oil Market: Regional Outlook
Regionally, Europe and North America are believed to be substantially contributing to the global cod liver oil market. This is because of the high degree of awareness about the product in the regions and also the considerable consumerism. Apart from the two regions, Asia Pacific cod liver oil market is also emerging as a potential one. This is because of the rising middle class population in the region and the proliferating sales channels.
Global Cod Liver Oil Market: Competitive Landscape
Prominent participants in the global cod liver oil market include Seven Seas Ltd, LYSI hf, Nordic Naturals, Inc., Mason Vitamins, and Twinlab Corporation. Key companies in the market are adopting novel growth strategies such as collaborations and product innovation. These strategies are likely to open new growth avenues for savvy companies in the global cod liver oil market.
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