The Asia Pacific Cod Liver Oil Market would witness market growth of 10.0% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Cod Liver Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $11,038.9 Thousands by 2031. The Japan market is registering a CAGR of 9.3% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 10.7% during (2024 - 2031).
The market is subject to various trends that reflect evolving consumer preferences, industry dynamics, and scientific advancements. For example, one prominent trend in the cod liver oil market is the increasing demand for sustainably sourced and ethically harvested products. With growing awareness of environmental issues and concerns about overfishing, consumers are seeking out cod liver oil products certified by reputable organizations, such as the Marine Stewardship Council (MSC), as meeting strict sustainability standards. Manufacturers respond to this trend by prioritizing sustainable fishing practices, traceability, and transparency in their supply chains, appealing to eco-conscious consumers.
In line with broader food and beverage industry trends, there is a growing emphasis on clean-label products and transparency in the cod liver oil market. Consumers are scrutinizing product labels more closely, seeking products with minimal processing, natural ingredients, and clear labeling. Manufacturers respond by removing unnecessary additives, preservatives, and fillers from their formulations and providing detailed information about their cod liver oil products’ sourcing, production, and nutritional content.
The expanding nutraceutical industry in India provides cod liver oil manufacturers with opportunities to diversify their product offerings and cater to specific consumer preferences and health needs. This may include the development of new formulations, such as flavored or fortified cod liver oil supplements, targeted at different demographic segments or health concerns. According to the Investment Promotion and Facilitation Agency, the nutraceuticals industry in India is expected to grow from $4 billion in 2017 to $18 billion in 2025.
This growth is driven by rising demand for dietary supplements from the upper and middle classes. Dietary supplements, which constitute over 65 percent of the Indian nutraceuticals industry, include macronutrients and herbal and non-herbal extracts. This segment is growing at a rate of 17 percent and, hence, will drive the market’s growth. Therefore, the increasing nutraceutical industry and the rising elderly age in the region drive the market’s growth.
Free Valuable Insights: The Global Cod Liver Oil Market is Predict to reach USD 182.7 Million by 2031, at a CAGR of 9.3%
Based on Source, the market is segmented into Atlantic, Arctic, and Others. Based on Application, the market is segmented into Dietary Supplements, Pharmaceuticals, Nutraceuticals, and Personal Care & Cosmetics. Based on Form, the market is segmented into Soft Gels, Capsules & Tablets, and Liquid. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
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