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According to research findings, cod liver oil offers several health benefits to human beings as it is a rich source of vitamins A and D and they also contain a decent amount of omega-3 fatty acids (EPA and DHA). In various developed and developing economies, cod liver oil is taken as a regular dietary supplement in order to enhance health and prevent various diseases.
Cod liver oil if consumed in regulated amount is potential in reducing triglyceride levels by significant percentage among individuals with high triglyceride levels. Furthermore, the presence of high level of nutrient content in cod liver makes it a crucial ingredient for pharmaceutical formulations.
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Key companies operating in the global cod liver oil market are focusing on expanding their product portfolio and launching cod liver oil products with different flavors to strengthen their market position and maintain their prominence in the world market. LYSI, Orkla Health AS, Seven Seas, and Mason Naturals are some of the key companies performing in the global cod liver oil market.
Cod liver oil is obtained or extracted from the liver of codfish and further processed to achieve a desirable product in order to make it suitable for human consumption. European countries with large coastlines, such as the U.K., Norway, and others are the major production and processing bases of cod liver oil. Codfish are mainly found in Arctic and Atlantic oceans; hence the aforementioned coastlines are preferred to catch codfish in order to obtain the oil.
Rising health consciousness among people has led to increased demand for nutraceutical and health supplement products, which is projected to aid the global cod liver oil market crucially during the forecast years. Various cardiovascular and mental health benefits offered by cod liver oil consumption is projected to aid its demand among people belonging to different age groups during the upcoming years. Furthermore, rising demand for vitamin D and vitamin A deficiency among people, especially children is projected to boost the market growth of global cod liver oil market.
Over-consumption or unregulated consumption of cod liver oil may induce some negative health impacts among individuals such as heartburn, belching, and other, which can act as a restraint for the growth of global cod liver oil market. Furthermore, the potential risk of contamination of cod liver oil with pre-existing mercury or other toxic metals in fish may further hamper the market growth.
Some of the major companies that are present in the global cod liver oil market are Nordic Naturals Inc.(UK), Blueline Foods (India) Pvt. Ltd. (India), LYSI Iceland (U.K.), Twinlab (U.S.), OLVEA Fish Oils (France), Carlson Laboratories Inc. (U.S.), Seven Seas (India), Mason Naturals (U.S.), Vital Nutrients (U.S.) and Power Health (UK).
On the basis of form, the global cod liver oil market has been segmented into liquid, soft gels, and capsules. Among these, soft gels and capsules are projected to hold significant market shares in the world market and grow at a rapid pace, owing to the high availability of cod liver oil in these forms. Most of the prominent market players in the cod liver oil market are offering their products in capsule or soft gel forms, hence they are more adopted by consumers across the globe.
By application, the global cod liver oil market has been segmented into dietary supplements, pharmaceuticals, nutraceuticals, personal care & cosmetics. The use of cod liver oil for the production of dietary supplements is anticipated to be high during the forecast period, as cod liver oil is rich in several crucial nutrients and elements, such as EPA, DHA, vitamin A & D, and others. The demand for high quality and highly purified cod liver oil in pharmaceutical formulations is anticipated to increase during the foreseeable years due to the high potential of cod liver oil in preventing several diseases, such as diabetes, severe heart diseases, skin disease, and others.
The Asia Pacific is anticipated to hold a significant market share in the global cod liver oil market owing to the high demand for fish oil supplements in countries, such as China, Japan, India, and others. A rising number of market players in Asian countries, coupled with organising distribution channel of the region is projected to impact the Asian cod liver oil market positively during the foreseeable years. Furthermore, rising urbanization in the Asia Pacific and an increase in demand for nutrient-rich health supplements is further expected to boost the market growth of the APAC region.
The cod liver oil market in North America, followed by Europe is anticipated to grow crucially during the upcoming years, owing to increasing consumer inclination towards including health supplements in their lifestyle to remain healthy and prevent diseases.
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