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Shark Liver Oil Market Report Overview
The shark liver oil market size reached around USD 154.79 Million in 2025. The market is projected to grow at a CAGR of 7.30% between 2026 and 2035 to reach nearly USD 313.14 Million by 2035.
Latest News on the Shark Liver Oil Market (2026)
Nov 28, 2025 – CITES COP20 Grants Strongest Ever Trade Protections to 70+ Shark Species
At the 20th Conference of the Parties to CITES, held in Samarkand, Uzbekistan, governments voted to grant stronger trade protections to over 70 species of sharks and rays, including deepwater gulper sharks, whose liver oil contains over 70% squalene, the highest concentration of any shark family. This marks the first time deepwater shark species have been included in CITES Appendix II trade restrictions. According to IFAW, 90% of the world's shark liver oil production is consumed by the cosmetics industry, driving the capture of approximately 2.7 million deep-sea sharks annually. The new CITES protections are expected to accelerate industry-wide transition toward plant-based and biosynthetic squalene alternatives.
Sep 24, 2025 – Brim Acquires Lýsi hf. for USD 248 Million, Reshaping Marine Oil Supply Chain
Iceland-based seafood giant Brim acquired 100% of shares in fish oil production company Lýsi hf. for ISK 30 billion (approximately USD 248 million). Lýsi, founded in 1938, is one of Iceland's largest producers of marine oils, including cod liver oil, omega-3 fish oils, salmon oil, and tuna fish oil. The deal is expected to strengthen Lýsi's raw material base and enable Brim to expand further into higher-value segments of the seafood value chain. The acquisition consolidates two of Iceland's most prominent marine oil players, with significant implications for the global shark liver oil and squalene supply chain.
Market Size & Forecast
- Market Size in 2025: USD 154.79 Million
- Projected Market Size in 2035: USD 313.14 Million
- CAGR from 2026 to 2035: 7.30%
What is Shark Liver Oil?
Shark liver oil is a marine-derived oil extracted from the livers of deep-sea shark species, including the Greenland shark (Somniosus microcephalus), spiny dogfish (Squalus acanthias), and basking shark (Cetorhinus maximus). Used in traditional medicine for centuries, particularly in Scandinavian and Japanese cultures, shark liver oil has gained modern scientific recognition for its unique concentration of bioactive compounds, most notably squalene (comprising up to 90% of its unsaponifiable fraction), alkylglycerols (AKGs), and omega-3 fatty acids (EPA and DHA).
These compounds collectively underpin the oil's therapeutic and commercial value across pharmaceuticals, nutraceuticals, cosmetics and personal care, food and beverages, textiles, and fuel industries. Squalene derived from shark liver oil serves as a critical adjuvant in vaccine formulations, including those for influenza, malaria, and COVID-19, while alkylglycerols have demonstrated immunomodulatory, anti-tumor, and anti-inflammatory properties in peer-reviewed clinical research.
Compound Annual Growth Rate
7.3%
Value in USD Million
2026-2035
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Why is the Shark Liver Oil Market Growing?
Squalene - The Primary Growth Engine
As the richest natural source of squalene, containing up to 90% in its unsaponifiable fraction, shark liver oil remains the primary raw material for squalene extraction worldwide. Squalene is used to improve the efficacy of several vaccines, including those for COVID-19, swine flu, and malaria, manufactured by major pharmaceutical companies, and is also a common ingredient in medicinal skincare formulations.
Growing Demand in Cosmetics and Anti-Aging Skincare
Shark liver oil, rich in squalene, is highly valued for its ability to hydrate the skin, improve elasticity, and reduce the appearance of wrinkles, benefits increasingly sought by aging consumers. As stated by the World Health Organization (WHO), by 2030, one in six individuals worldwide will be 60 years or older, and the population aged 80 and above is anticipated to triple by 2050. This demographic shift is directly accelerating demand for shark liver oil-derived squalene in premium anti-aging serums, moisturizers, and lip care formulations, particularly in China, Japan, South Korea, France, and Germany.
Rising Health Awareness and Supplement Adoption
Overall, 75% of individuals in the United States regularly use dietary supplements, with 91% reporting that dietary supplements are essential for maintaining overall health, according to a survey by the Council for Responsible Nutrition (CRN). Shark liver oil capsules and soft-gels, prized for their alkylglycerol and omega-3 content, are increasingly positioned within this growing preventive healthcare segment, with applications targeting immune function, cardiovascular health, psoriasis, eczema, and radiation sickness recovery.
Vaccine Adjuvant Applications Expanding Post-COVID
The COVID-19 pandemic significantly elevated awareness of squalene-based vaccine adjuvant systems such as MF59® (Novartis/Seqirus) and AS03 (GSK). Both are oil-in-water emulsion adjuvants formulated using squalene sourced from shark liver oil. As global immunization programs scale up and new vaccines for malaria, tuberculosis, and influenza enter clinical pipelines, demand for pharmaceutical-grade squalene and, by extension, shark liver oil is expected to see sustained long-term growth.
Sustainability Pressures and the Synthetic Squalene Opportunity
The shark liver oil market faces a significant structural shift driven by environmental regulation and consumer ethics. An estimated 3 to 6 million deep-sea sharks are killed each year to meet rising demand for squalene, posing a threat to marine ecosystems and increasing pressure on industries to switch from shark-based squalene to more environmentally friendly sources, such as plants and microorganisms. In response, companies are investing heavily in plant-based squalene from olive oil, sugarcane fermentation, wheat germ, and amaranth seed, as well as microbial squalene from protists such as Thraustochytrium sp., creating both a threat and a diversification opportunity for established shark liver oil producers.
Large Production Volumes in Japan to Aid the Shark Liver Oil Market
The shark liver oil industry is being influenced by changing customer preferences and rising health awareness. The large production volumes and exporting capacities of regions like Japan, closely followed by the United States, are 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.
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Shark Liver Oil Industry Segmentation
Global Shark Liver Oil Market Report and Forecast 2026-2035 offers a detailed analysis of the market based on the following segments:
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
- Asia Pacific
- Latin America
- Middle East and Africa
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Purchase the Regional Overview for USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Associated Health Benefits are Driving the Growth of Shark Liver Oil Market
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 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 are 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.
Competitive Landscape
The shark liver oil market is moderately consolidated, with key players competing based on product quality, sustainable sourcing practices, geographic reach, and technological innovation in extraction and refining processes. Leading companies are strategically investing in research and development, capacity expansion, and value-added product portfolios spanning pharmaceutical-grade squalene, alkylglycerol-rich supplements, and cosmetic-grade oils to strengthen their competitive positioning.
Arbee Group
Founded in 1980 and headquartered in Kerala, India, Arbee Group is a global leader in marine ingredients, specialising in the production of high-quality refined fish oils, omega-3 supplements, shark liver oil, and squalene in refined as well as crude forms. The company manufactures and exports superior quality omega-3 products including squalene, shark liver oil, and DAGE (alkylglycerols) for nutraceutical and cosmeceutical applications. It operates through multiple subsidiaries serving key markets across Australia, New Zealand, Japan, Canada, South Korea, and the United States.
Egao Co. Ltd.
Founded in 1984 and headquartered in Kumamoto, Japan, Egao Co. Ltd. is a leading health supplement manufacturer best known for its flagship Samedama shark liver oil supplement. The company has ranked number one in Japan's shark liver oil health food home shopping market for 18 consecutive years as of February 2025, with cumulative sales exceeding 35 million bags. It manufactures products at GMP-certified facilities and maintains an active research and development department focused on the therapeutic benefits of shark liver oil.
Norwegian Fish Oil AS
Founded in 1987 and headquartered in Trondheim, Norway, Norwegian Fish Oil AS (NFO®) is a European leader in the development of bioactive omega-3 polyunsaturated fatty acid complexes and marine health supplements. The company is one of the few omega-3 producers in the world with seven published medical studies proving the health benefits of its products, delivering some of the highest omega-3 levels per capsule and serving customers in more than 30 countries.
Bawa Fishmeal & Oil Company
Established in 1925 and headquartered in Mangalore, Karnataka, India, Bawa Fishmeal & Oil Company is a third-generation family-owned business producing fish meal, fish oil, fish soluble paste, squalene shark liver oil, and other fishery by-products for over a century. The company exports to international markets and has established a dedicated omega-3 enrichment facility as part of its forward integration strategy.
Brim hf.
Incorporated in 1985 and headquartered in Reykjavík, Iceland, Brim hf. is a leading Icelandic seafood company engaged in the fishing, processing, and marketing of groundfish and pelagic fish, formerly known as HB Grandi hf. before rebranding in August 2019. The company employs approximately 800 full time employees and sells its products across Europe, Asia, North America, and Africa. In September 2025, Brim acquired all shares of fish oil producer Lýsi hf. for approximately USD 248 million, significantly expanding its presence in the marine oil and nutritional supplement segments.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
In 2025, the market attained a value of nearly USD 154.79 Million.
The squalene market is projected to grow at a CAGR of 7.30% during the forecast period of 2026-2035 thus, continuing to support the growth of the shark liver oil industry.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach about USD 313.14 Million by 2035.
The major drivers of the industry, such as the growing demand for cosmetic products and increasing health awareness, are expected to aid the market growth.
The key trend guiding the growth of the market is the increase in R&D activities.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The leading types of the product in the industry are deep sea shark, dogfish, and basking shark, among others.
The major distribution channels in the market are direct sales and indirect sales.
The major application sectors in the industry are food industry, textile, pharmaceuticals, fuel, and cosmetics and personal care, among others.
The major players in the industry are Arbee Group, Egao Co. Ltd., Norwegian Fish Oil AS, Bawa Fishmeal & Oil Company, and Brim hf, among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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