Thailand Cod Liver Oil Market size is projected to grow at a CAGR of 7.5% during 2023-2029

Tablets and Soft Gels segment based on types registered the major revenue share in Thailand Cod Liver Oil Market – 6Wresearch

By types, Tablets and Soft Gels dominated the Thailand Cod Liver Oil Market owing to their wide application in pharmaceuticals and dietary supplements. Moreover, the pharmaceutical market grew by around 5% in 2022 and is expected to grow in the future on account of the rise in the incidence of chronic non-communicable diseases, thereby contributing to the demand for tablets and soft gels of cod liver oil.

According to 6Wresearch, Thailand Cod Liver Oil Market size is projected to grow at a CAGR of 7.5% during 2023–2029. With a growing aging population and prevalence of non-communicable diseases, there is a growing demand for dietary supplements such as cod liver oil during the forecast period. Owing to the rise in the food and beverage sector which contributes to around 21% of the country’s Gross Domestic Product coupled with an increase in sales of dietary supplements to around $3.5 billion by 2023, would contribute to the growth of the cod liver oil market. Thailand's supplement market would register an average growth of 7% a year, owing to health and wellness trends, rising incomes, and modern retail channels in the upcoming period. A growing vegan lifestyle along with climate change affecting the production of cod liver oil can act as a restraint for the cod liver oil market in Thailand.

According to Ravi Bhandari, Research Head, 6Wresearch, by distribution channel, online is expected to account for the highest revenues as the e-commerce market of Thailand is expected to reach $34 billion by 2025 and the number of local e-commerce users is projected to reach 43.5 million by 2025. Moreover, as of January 2023 with 61.2 million internet users in Thailand, the internet penetration rate was 85.3% of the total population. Thus, with a further rise in internet penetration, the online distribution channel would register growth in the future on account of an increase in online buyers.

The Thailand Cod Liver Oil Market (2023-2029) report provides an in-depth analysis with 16 figures and 3 tables, covered in 67 pages. The report comprehensively covers the market by type, distribution channel, and application. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.