Know More About “Squalene Market 2024-2030” Growth Worldwide…..|Grand View Research, Inc.

Squalene Market Size, Share & Growth Analysis

San Francisco, 22 May 2024: The Report Squalene Market Size, Share & Trends Analysis Report By Source (Animal, Plants, Synthetic), By End-use (Pharmaceuticals, Nutraceuticals), By Region, And Segment Forecasts, 2024 - 2030

The global squalene market size is expected to reach USD 307.9 million by 2030, expanding at a CAGR of 10.9% from 2024 to 2030, as per the new report by Grand View Research, Inc. The industry is majorly driven by rising health awareness among the masses and continuously rising demand for squalene in personal care and cosmetics. Squalene acts as an emollient and provides nourishment to the skin. Moreover, it finds application in pharmaceuticals due to its ability to act as an anti-cancer and anti-oxidant agent.

Squalene is now largely produced from plants. It can be obtained from vegan sources such as sugarcane, rice bran, wheat germ, palm trees, and olives, with olives being the most popular. Although many businesses prefer squalene derived from plants, there is still a possibility that it comes from animals. The demand for the product from shark liver oil is still in the market because of its low cost. In the cosmetics industry, products such as perfumes, lotions, eyeliners, and eye shadows, contain squalene in the range of 0.1% to 10%, whereas other products such as foundations and lipsticks contain 50% of the product.

The usage of synthetic and plant-based squalene has been motivated by the growing concerns over the extinction of sharks. To create squalene from plants or synthetic processing, manufacturers are engaged in research & development. A supplier of natural component products for the cosmetics market, Sophim, invested USD 11.94 million to increase its production capacity. Two-thirds of the company's investment is to be made in Spain, where a production facility is planned to be built to treble the amount of squalene that can be extracted from olive oil.

With their antioxidant and anti-aging characteristics, squalene supplements can restore our skin, maintain cholesterol levels, and help in treating inflammation. They provide cells with the oxygen they require for proper metabolism and energy production at the cellular level. These supplements are also known to combat viruses, colds, and infections, thus improving overall health and well-being. With the onset of the COVID-19 pandemic, people have become more conscious about their health and immunity, thus increasing the demand for squalene in the pharmaceutical industry.

Increasing consumption of natural ingredients in the personal care and cosmetics sector is expected to emerge as a major factor driving the market demand. Squalene is translucid, emits a low odor, and offers moisturizing properties. These qualities make it one of the most preferred emollients in the world. Absence of toxicity, makes it one of the most widely used elements in personal care applications. Squalene oil is also utilized in the cosmetics industry to fight free radicals that damage the skin and accelerate the aging process.

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Increasing consumption of natural ingredients in the personal care and cosmetics sector is expected to emerge as a major factor driving the market demand. Squalene is translucid, emits a low odor, and offers moisturizing properties. These qualities make it one of the most preferred emollients in the world. Absence of toxicity, makes it one of the most widely used elements in personal care applications. Squalene oil is also utilized in the cosmetics industry to fight free radicals that damage the skin and accelerate the aging process.

Squalene Market Report Highlights

  • Rising usage of natural chemical-free ingredients in personal care and cosmetics and increased awareness regarding the benefits of squalene for health and body are driving the market
  • Europe dominated the market with a revenue share of over 32.8% in 2023, followed by Asia Pacific region.
  • The plant segment dominated the market with a revenue share of over 82.3% in 2023. This is attributed to the declining population of sharks, increasing awareness among people regarding animal welfare and protection, and regulatory frameworks imposed by various governments for the protection of marine animals.
  • The personal care and cosmetics segment dominated the market with a revenue share of over 70.1% in 2023.
  • In the pharmaceutical industry, squalene is widely used for various vaccine and drug delivery emulsions owing to its biocompatibility and stability-enhancing effects. In vaccines, it is used as an oil-in-water emulsion form, coupled with some adjuvants and stimulants of the immune system
  • Companies are involved in strategic initiatives such as mergers and new product launches to maintain their market position

The product is used as a moisturizing and cleansing ingredient in cosmetic and personal care products such as lotions, hair conditioners, bath oils, lipsticks, creams, and foundations. Furthermore, surge in demand for natural and organic ingredients is expected to have a positive impact on the market.

Another factor that fuels market expansion is the rising demand for products in several vaccines. It is a vital component of vaccinations including the COVID-19 vaccines as it is extremely effective in boosting immune response.

Squalene product, used in vaccines and pharmaceutical products is a purified version of fish oil, which is extracted from sharks. A report published by the International Trade of Endangered Species states that five shark species are in danger of extinction. This is anticipated to significantly reduce animal-based products and further drive plant- and synthetic-based sources.

The squalene industry also benefited from rising interest in nutritional supplements, expansion of the cosmetics sector, and prevalence of cancer and cardiovascular disorders. New renewable sources for product manufacturing along with appealing marketing and packaging techniques give market participants additional lucrative opportunities.

The U.S. is the largest producer and consumer of the product in North America. The market is expected to grow significantly over the forecast period owing to growth of the cosmetics industry in the country. The growth can be attributed to a high penetration rate of global cosmetic brands and an increase in demand for beauty care products and beauty clinics owing to the expanding working women population in the country.

Squalene Market Report Scope

Report Attribute

Details

Market size value in 2024

USD  165.7 million

Market size value in 2030

USD 307.9 million

Growth rate

CAGR of 10.9% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

The product is mainly extracted from shark liver oil and olive oil. Olive oil is a major source of extraction in the U.S. owing to restrictions imposed on poaching of marine animals under Marine Mammal Protection Act Policies (MMPA) that prohibit the take of marine mammals, including hunting, collecting, capturing, harassing, or killing them in waters and by citizens of U.S. on the high seas.

The act also makes it unlawful to import marine mammals and items derived from marine mammals into the country without necessary permits. This could lead to an increase in the use of plant-based or synthetically manufactured products over animal-based in the U.S. in coming years.

List of Key Players of Squalene Market

  • Amyris, Inc.
  • Sophim SAS
  • Henry Lamotte Oils GmbH
  • efpbiotek
  • Vestan Limited
  • Kuraray Co., Ltd.
  • Croda International Plc
  • AASHA BIOCHEM
  • Arbee
  • Oleicfat, s.l.
  • Kishimoto Special Liver Oil Co., Ltd.

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