In 2023, the demand for fish liver oil in Canada stood at approximately 210 metric tons. The forecast for 2024 suggests stable demand at 200 metric tons, which is a 4.8% decline from the previous year. This decline is expected to continue into 2025 with demand remaining steady at 200 metric tons, showing no year-on-year change.
By 2026, the demand decreases further to 190 metric tons, marking a 5% decrease. This downward trend continues in 2027 with demand projected at 180 metric tons, a 5.3% decline, and stabilizes in 2028 at the same level. Over the five years, the CAGR indicates an average annual decrease of 3% in demand.
Future Trends to Watch:
- Increasing consumer preference for plant-based supplements might influence fish liver oil demand.
- Sustainability concerns in consumers could affect market dynamics.
- Monitoring potential health trends that could revive interest in fish liver supplements is essential.
