According to the report by Expert Market Research (EMR), the global shark liver oil market is supported by the growing squalene market, which is projected to grow at a CAGR of 7.3% between 2024 and 2032. Aided by associated health benefits of shark liver oil and large production volumes in Japan, the market is expected to grow significantly by 2032.
Shark liver oil, a golden to light yellow oil extracted from the livers of deep-sea sharks, has historically been used in various cultures, especially in Scandinavia and Japan, due to its healing properties. The oil is particularly rich in compounds such as squalene and alkylglycerols. While squalene is hailed for its powerful antioxidant properties, aiding in reducing oxidative stress and inflammation, alkylglycerols are known to bolster the immune system, playing a vital role in the formation and maintenance of red and white blood cells.
A surge in consumer awareness regarding holistic health and natural supplements is one of the primary shark liver oil market trends. As individuals globally become increasingly health-conscious, there is a notable gravitation towards natural sources of health supplements, and shark liver oil fits this category with its plethora of benefits. Moreover, its acclaimed efficacy in promoting wound healing and reducing the symptoms of certain ailments, including colds and skin conditions, further amplifies its demand.
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Beyond its role in healthcare sector, the shark liver oil market demand has risen across various other industries. The cosmetic and skincare industry is one such area. Given squalene’s potent moisturising and antioxidant attributes, shark liver oil has become an indispensable ingredient in various creams, lotions, and serums. Its ability to promote skin health, reduce signs of ageing, and offer protection against environmental pollutants have made it a sought-after ingredient in premium skincare formulations.
The authenticity and unparalleled benefits of original shark liver oil continue to boost its demand. Stakeholders in the global shark liver oil market are increasingly adopting sustainable fishing practices and ensuring the traceability of their products to address environmental and ethical concerns. Certifications and the promotion of ethical sourcing practices are becoming a norm, aiming to strike a balance between demand and conservation efforts.
Further amplifying the market potential is the research and development in its medical applications. Preliminary studies suggest potential anti-cancer properties of compounds found in the oil, and while conclusive evidence is still under research, such findings offer promising avenues for the shark liver oil market growth in the future.
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Shark Liver Oil Market Segmentation
The market can be divided based on type, application, distribution channel, and region.
Market Breakup by Type
- Deep Sea Shark
- Dogfish
- Basking Shark
- Others
Market Breakup by Application
- Food Industry
- Textile
- Pharmaceuticals
- Fuel
- Cosmetics and Personal Care
- Others
Market Breakup by Distribution Channel
- Direct Sales
- Indirect Sales
- Specialty Stores
- Pharmaceutical Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the companies operating in the global shark liver oil market. Some of the key players explored in the report by Expert Market Research are as follows:
- Arbee Group
- Egao Co. Ltd.
- Norwegian Fish Oil AS
- Bawa Fishmeal & Oil Company
- Lýsi hf
- Others
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