Dublin, Aug. 30, 2024 (GLOBE NEWSWIRE) -- The "Thailand Cod Liver Oil Market 2024-2030 Industry, Size, Trends, Revenue, Companies, Forecast, Analysis, Growth, Share & Value: Market Forecast by Type, by Distribution Channel, by Application and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Thailand Cod Liver Oil Market size is projected to grow at a CAGR of 7.5% during 2023-2029.
Thailand Cod Liver Oil market currently, in 2023, has witnessed an HHI of 3277, Which has decreased substantially as compared to the HHI of 8976 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Thailand Cod Liver Oil Market Synopsis
Thailand cod liver oil market has shown decent growth during the pre-covid years owing to the growing aged population across the country and 50% of the elderly population suffering from at least one chronic disease. The increasing number of disorders among aged population contributed to the demand for cod liver supplements as they are rich in vitamin A and vitamin D along with omega-3 fatty acids which benefit bones, heart etc. In 2020, imports of cod liver oil suffered on account of disruption in global supply chain due to imposition of covid restriction.
Moreover, temporary halt in global production facilities of cod liver oil negatively affected the Thailand market. However, after the pandemic, consumers are increasing their spending on health and wellness as they become more health-conscious, for instance, 52% of Thailand consumers expected to purchase or consume dietary supplements would further propel the demand for cod liver oil supplements in the coming years.
The market would experience growth in the forecast period on account of growing nutraceutical and pharmaceuticals industry in Thailand. Furthermore, the alarming number of deaths from noncommunicable diseases (NCDs) across the nation accounting for roughly 74% of the total deaths in the country would boost the demand for cod liver oil during the forecast period as it contains vitamin A which increases mineral absorption, maintain bone density and helps improving immune system.
Market by Type
Tablets and Soft Gels acquired major revenue share in the year 2022 owing to wide application in pharmaceuticals and dietary supplements. Moreover, the increase in old age population above 60 years of age which is expected to rise further to 28% of total population by the year 2033, would create demand for dietary supplements as it helps to reduce disease prevalence, thereby contributing to growth of cod liver oil market.
Market by Distribution Channel
Offline channel accounted for major revenue share in 2022 as it helps the buyers to physically examine the product and verify the ingredients and expire date before purchasing. Moreover, offline channels offer immediate product availability as the buyer can visit their nearby store. In future, online segment can account for the largest revenue share.
Market by Application
Nutraceutical accounted for major revenue share in 2022 as consumers are willing to spend more on health supplements to look younger and more attractive, coupled with growing awareness of the importance of good health. Moreover, the rise in chronic disorders has led to adoption of dietary supplements, thereby contributing to market for nutraceuticals further catalyzed by growing awareness towards sound health in Thailand post COVID-19.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Thailand Cod Liver Oil Market Overview
- Thailand Cod Liver Oil Market Outlook
- Thailand Cod Liver Oil Market Forecast
- Thailand Cod Liver Oil Market Porter's Five Forces
- Thailand Cod Liver Oil Market Industry Life Cycle
- Historical Market Data and Forecast of Thailand Cod Liver Oil Revenues, By Type for the period 2019-2029F
- Historical Market Data and Forecast of Thailand Cod Liver Oil Revenues, By Distribution Channel for the period 2019-2029F
- Historical Market Data and Forecast of Thailand Cod Liver Oil Revenues, By Application for the period 2019-2029F
- Market Drivers and Restraints
- Market Opportunity Assessment
- Key Performance Indicators
- Competitive Benchmarking
Company Profiles
- Nature Made
- Preventive Life Group
- Thai Union Group PCL
- Nordic Naturals
- JBX Pty Ltd
- Solgar Inc.
- Lysi hf
- Now Foods
- Carlson Laboratories, Inc.
- Mason Natural
Market Scope and Segmentation
By Type
- Liquid
- Tablets & Soft Gels
By Distribution Channel
- Online
- Offline
By Application
- Pharmaceuticals
- Nutraceutical
- Food & Beverage
- Others (Cosmetics and Animal Feed)
For more information about this report visit https://www.researchandmarkets.com/r/hyn4fy
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
