The report "Squalene Market by Source Type (Animal Source (Shark Liver Oil), Vegetable Source (Olive Oil, Palm Oil, Amaranth Oil), Biosynthetic (GM Yeast), End-use Industry (Cosmetics, Food and Pharmaceuticals) and Region - Global Forecast to 2027", will grow to USD 198 million by 2027, at a CAGR of 6.8% from USD 143 million in 2022.
Browse 304 market data Tables and 55 Figures spread through 233 Pages and in-depth TOC on "Squalene Market by Source Type (Animal Source (Shark Liver Oil), Vegetable Source (Olive Oil, Palm Oil, Amaranth Oil), Biosynthetic (GM Yeast), End-use Industry (Cosmetics, Food and Pharmaceuticals) and Region - Global Forecast to 2027"
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This growth is primarily triggered by the growing demand for cosmetic products. The cosmetics industry stands to be the growing segment, owing to the increasing consumer awareness, along with higher consumer spending power for natural cosmetics and personal care products. Squalene is found in several moisturizers and face creams due to its immense benefits for the skin, and it is a prominent ingredient in anti-aging creams. The growing demand for natural ingredients (especially plant-derived), for cosmetic and personal care products by consumers because of the harmful effects of fossil fuel sources is most likely to drive the squalene market.
Animal-source is estimated to be the second-largest source type of squalene market in 2021
Animal-source squalene accounted for the second-largest market share of the global squalene market, in terms of value, in 2021, mainly due to the fact that the price of animal-sourced squalene is less than that of squalene obtained from vegetables and other sources. In addition, the purity of animal-sourced squalene is higher than the purity of squalene obtained from vegetable sources. Animal-sourced squalene is projected to register moderate growth during the forecast period due to the lack of raw material availability and stringent regulations pertaining to shark killing.
“Pharmaceutical is projected to be the fastest-growing application of squalene during the forecast period”.
Pharmaceuticals is another major end-use industry of squalene owing to its various beneficial properties. Squalene has applications in cancer therapy as an anti-tumor medicine due to its ability to rejuvenate the white blood cells in the human body. It has also been used as an adjuvant in various vaccinations, such as the anthrax vaccine during the world war and the swine flu vaccine. The growth of the market would depend on the growth of the oncology segment of the pharmaceuticals industry.
“North America is estimated to be the second-largest market for squalene in 2021”.
The North American squalene market is witnessing moderate growth owing to the maturity of the industrial sector in the region. The rise in consciousness about beauty care and increased availability of advanced products are driving the demand for squalene in the region. The stringent regulations enforced by the governments for environmental protection and skepticism associated with animal-sourced squalene have led to an increase in the demand for biosynthetic squalene.
The key market players profiled in the report include Amyris, Inc (US), SOPHIM (France), Merck KGaA (Germany), Kishimoto Special Liver Oil Co., Ltd. (Japan), Empresa Figueirense De Pesca (Portugal), Arbee (India), Oleicfat S.L. (Spain), NZ Green Health Ltd. (New Zealand), Otto Chemie Pvt. Ltd. (India) and Cibus (US), among others.
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