The North America Cod Liver Oil Market would witness market growth of 9.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America Cod Liver Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $35,212 Thousands by 2031. The Canada market is experiencing a CAGR of 11.6% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.6% during (2024 - 2031).
Cod liver oil is widely recognized as a valuable source of essential nutrients, including omega-3 fatty acids (EPA and DHA), vitamin A, and vitamin D. As a dietary supplement, it is commonly consumed to support overall health and well-being, with specific benefits for cardiovascular health, cognitive function, joint health, and immune support. Cod liver oil supplements are available in various forms, including capsules, liquid extracts, and soft gels, making them accessible to many consumers.
Furthermore, cod liver oil has a long history of use in traditional medicine, where it was prized for its medicinal properties and therapeutic effects. In many cultures, it was used to remedy various ailments, including arthritis, rheumatism, respiratory infections, and skin disorders. While modern medicine has shed light on the mechanisms behind these traditional uses, cod liver oil remains a natural alternative for promoting health and alleviating certain conditions.
E-commerce platforms allow cod liver oil suppliers to reach consumers across Mexico, including remote or underserved areas where traditional brick-and-mortar stores may be less accessible. This expanded market reach could increase awareness and demand for cod liver oil products among a wider demographic. According to the International Trade Administration (ITA), the domestic e-commerce industry was valued at USD 26.2 billion in 2022, representing a 23 percent increase over 2021.
Mexico is positioned among the top five countries in the world in terms of e-commerce retail growth rate. In 2022, there were 63 million Mexicans using e-commerce, a 5.5 million increase over 2021. Mexico’s e-commerce sector value will reach USD 70.4 billion by 2027. Hence, the expansion of the e-commerce sector and the rising cosmetics industry in the region is driving the market’s growth.
Free Valuable Insights: The 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 U.S., Mexico, Canada, and Rest of North America.
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