Global Shark Liver Oil Market Report and Forecast 2024-2032

Global Shark Liver Oil Market Outlook

The global shark liver oil market is being driven by the associated health benefits of the product. The global shark liver oil market is also being supported by the rising market for squalene, which attained a value of USD 144.26 million in 2023 and expected to grow at a CAGR of 7.3% during the forecast period of 2024-2032 to reach a value of USD 271.14 million by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Large Production Volumes in Japan to Aid the Global Market for Shark Liver Oil

The shark liver oil industry is being influenced by the changing customer preferences and the rising level of health awareness. The large production volumes and exporting capacities of regions like Japan, closely followed by the United States, is driving the shark liver oil industry forward. The widespread use of shark liver oil in the healthcare industry is one of the major contributors to the market growth. It is being rapidly consumed by the health-conscious consumers owing to its extraordinary healing properties as an anti-depressive and anti-psychotic drug. In terms of usage in the cosmetics industry, China leads the global market. The increased usage of shark liver oil in cosmetics as an ingredient of lip-balms and moisturisers has also propelled the market growth further.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Shark Liver Oil: Market Segmentation

Shark liver oil, as the name suggests, is obtained from the liver of sharks. It finds its major use as a remedy to promote healing of wounds and cure respiratory tract and digestive system problems. Additional claims suggest that it can also be used to treat cancer, HIV, and radiation illness, among others. The principal component of shark oil is squalene, ranging up to 90% of the oil.

Based on type, the market is divided into:

• Deep Sea Shark
• Dogfish
• Basking Shark 
• Others

By application, the market can be segmented into:

• Food Industry
• Textile
• Pharmaceuticals
• Fuel
• Cosmetics and Personal Care
• Others

Based on distribution channels, the market can be divided into:

• Direct Sales
• Indirect Sales
  • Specialty Stores
  • Pharmaceutical Stores
  • Online
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Associated Health Benefits are Driving the Market Growth of Shark Liver Oil

The shark liver oil industry is being driven by the inherent health benefits of the oil. Shark liver oil is rich in squalene. With the rising demand for squalene in various end-use industries, like cosmetics, pharmaceuticals, food, and chemicals, the market for shark liver oil is witnessing a rapid growth. The oil has been traditionally used to enhance immunity and is known to cure ailments like cancer, respiratory tract problems, and HIV. The rising health awareness among people and the need for an effective treatment for diseases is providing impetus to the global shark liver oil industry growth. The market is expected to witness growth in the coming years, being influenced by evolving customer preferences and an increase in the number of shark liver oil applications.

Key Industry Players in the Global Shark Liver Oil Market

The report gives a detailed analysis of the following key players in the global shark liver oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Arbee Group
• Egao Co. Ltd.
• Norwegian Fish Oil AS
• Bawa Fishmeal & Oil Company
• Lýsi hf
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis.

Key Highlights of the Report