LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global cod liver oil market predicts the market to witness a CAGR of close to 6% during the forecast period. This research report segments the market by distribution channel (offline and online) and geography (North America, Europe, APAC, MEA, and, South America).
Growing demand for dietary supplements rich in omega-3 fatty acids to gain popularity
Omega-3 fatty acids are abundantly present in cod liver oil. The demand for these acids has increased considerably in recent years as they help in preventing breast cancer, prostate cancer, heart attacks, and strokes. In addition, doctors and dieticians are also prescribing products rich in omega-3 fatty acids to improve cardiac health. This increased awareness among consumers is expected to drive the sale of cod liver products in the upcoming years. Furthermore, the presence of two key omega-3 fatty acids including EPA and DHA helps in offering several health benefits and treating different chronic conditions including the Alzheimer’s disease and cardiovascular functions. Therefore, the emerging trend towards the use of dietary supplements will boost the global cod liver oil market growth during the forecast period.
Offline distribution channel segment will garner the highest share.
Rising number of hypermarkets, supermarkets, groceries, and other conventional stores is one of the key factors that has led the offline segment to garner the higher market share during the forecast period. Consumers find it convenient to select different types of cod liver oil products from a wide range of products available in supermarkets, convenience stores, and other retail stores based on price and quality. The availability of different types of cod liver oil products catering to the evolving end-user requirements in offline stores will benefit the cod liver oil market growth in the forthcoming years.
“Rising emphasis on private label cod liver oil products is contributing to the continuous increase in cod liver market size. Retailers are offering private label brands to ensure they meet customers’ expectations in terms of the quality and price of cod liver oil products. Consumers are increasingly inclined towards private label cod liver oil products due to their economical prices as well as quality offered,” says a senior research analyst at Technavio
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Cod liver oil market to witness fastest adoption in the APAC region.
APAC will witness fastest growth in the cod liver market due to the increasing demand for dietary supplements rich in vitamins from the emerging economies including India and China. Cod liver oil products are used to treat several chronic diseases caused due to the deficiency of essential nutrients such as vitamins A and D and omega-3 fatty acids. Furthermore, governments across the advancing economies of APAC are taking necessary measures to improve public health by preventing the deficiency of these nutrients. Market players in the APAC region are also encouraging the production and manufacture of dietary supplements rich in Omega-3, thus, creating ample opportunities for the growth of the cod liver oil market during the forecast period.
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Some of the key topics covered in the global cod liver oil market analysis include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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