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The global market for shark liver oil is anticipated to grow in the forecast period owing to its health benefits and a rising population of health-aware consumers. The widespread use of shark liver oil in various end-use industries is aiding the market growth. The rising usage of the oil in medicine and food, due to its anti-depressive, anti-cancerous, and anti-psychotic properties is expected to drive the market growth. Rapid urbanisation, changing consumer preferences, and rising disposable incomes are expected to further propel the market growth. The expansion of the retail channels of shark liver oil like Amazon.com is expected to provide a further boost to the market growth.
Egao Co. Ltd. is one of the leading key players in the global market for shark liver oil. The company’s Samedama Shark Liver Oil received a Gold Award in the 2016 Monde Selection. As of February 2021, as researched by Tokyo Shoko Research, Ltd., the company ranked as number one in Japan’s shark liver oil health food home shopping market for 13 years in a row. Owing to the increasing population of health-conscious customers and the wide range of applications of the oil, the cumulative sales total for the company, at the end of August 2020, exceeded 26,000,000 bags. The rising awareness among the consumers is likely to further boost the market growth in the coming years.
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The major players in the global shark liver oil market are Arbee Group, Egao Co. Ltd., Norwegian Fish Oil AS, Bawa Fishmeal & Oil Company, and Lýsi hf, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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