New York, United States, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The Global Squalene Market Size to Grow from USD 1.3 Billion in 2022 to USD 2.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.1% during the forecast period.
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Squalene, which is typically made from shark liver oil, has seen a dramatic shift in the market away from animal-based sources and towards plant-based alternatives. Olive oil, amaranth seed oil, and other plant-based oils are growing in popularity due to ethical and sustainable concerns. Squalene is extensively used in the personal care and cosmetics industries. Because it is compatible with the skin's natural oils and has moisturising properties, it is a highly sought-after ingredient in skincare products. Due to customer demand for sustainable and natural ingredients in cosmetic products, the market for squalene has grown. The pharmaceutical industry also makes use of squalene. The pharmaceutical industry also makes use of squalene. It acts as an adjuvant during vaccination, enhancing the immune response. With the development and distribution of vaccines, this is particularly crucial at this time.
Squalene Market Value Chain Analysis
One of the primary materials used to create animal-based squalene is shark liver oil. However, there is a trend towards using plant-based products like amaranth seed oil and olive oil as sustainability becomes more and more popular. The raw materials go through extraction processes in order to produce squalene. Different extraction methods could be needed for different sources. To extract olive oil, for example, centrifugation and pressing are employed. Squalene is then added to other products. In the cosmetics industry, it is used in skincare products such as moisturisers and anti-aging creams. Goods with completed squalene are sold to a variety of clients and industries. There is warehousing, logistics, and transportation. The benefits of squalene for skincare and other applications are enjoyed by end consumers of goods containing it.
Squalene Market Opportunity Analysis
Since more consumers are selecting natural and sustainable ingredients for their medications and cosmetics, there is a sizable demand for squalene derived from plants. Squalene has a large market opportunity because of its moisturising and skin-repairing properties, especially as anti-aging and skincare products become more and more popular in the cosmetics business. The increasing demand for vaccines globally is a growth opportunity for this market since squalene is utilised as an adjuvant in the production of vaccines to enhance immune response. Investigating and expanding into developing regions where the middle class is expanding and more people are spending money on healthcare and personal care products can be very profitable.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on the "Global Squalene Market Size By Type (Animal Source, Vegetable Source), End Use Industry (Cosmetic, Food), By Region, And Segment Forecasts, By Geographic Scope And Forecast 2022 - 2032."
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Insights by Type
The animal source segment accounted for the largest market share over the forecast period 2023 to 2032. Growing consumer awareness of moral and environmental issues has an impact on their purchasing decisions. Consumers today are increasingly likely to choose products that use squalene sourced from plants, indicating a preference for cruelty-free and environmentally friendly goods. The availability of plant-based squalene has been positively received by the market, with companies promoting these products as environmentally friendly and ethically compliant.
Insights by End Use
Cosmetics segment is witnessing the fastest market growth over the forecast period 2023 to 2032. Squalene is widely utilised in skincare products because of its exceptional moisturising abilities. It contributes to increased skin hydration and is a common ingredient in creams, lotions, and serums. Squalene is commonly utilised in skincare products due to its exceptional moisturising capabilities. It contributes to increased skin hydration and is a common ingredient in creams, lotions, and serums. In the cosmetics industry, there has been a shift towards natural and clean beauty products. Particularly when derived from plant sources like olive oil, squalene appeals to consumers searching for natural alternatives and fits in nicely with these trends. Dermatologists usually suggest utilising skincare products with squalene because of their capacity to moisturise and relax the skin.
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Insights by Region
North America is anticipated to dominate the Squalene market from 2023 to 2032. The North American market for plant-based sources of squalene has undergone a considerable change as a result of rising consumer demand for natural ingredients and worries about sustainability. Squalene is particularly in demand in North America in the personal care and cosmetics sectors. It is a common element in skincare products since it moisturises skin and blends nicely with natural skin oils. Consumers in North America are becoming more aware of the ingredients in the skincare products they use. As a result of customer demand for products created with natural and sustainable components, the market for squalene has expanded.
Asia Pacific is witnessing the fastest market growth between 2023 to 2032. In the Asia-Pacific region, the market for cosmetics and personal care products is booming, and rising consumer interest in skincare and cosmetics has raised squalene demand. Maintaining youthful, healthy-looking skin is highly valued in many Asian countries, where skincare customs are entrenched. This cultural aspect drives demand for skincare products, particularly those that include squalene. Similar to other markets, the Asia-Pacific market is witnessing a growing trend towards natural and sustainable components. Because of this, interest in squalene made from plants has increased. Economic growth in the Asia-Pacific region has resulted in an increasing middle class with growing purchasing power. This has contributed to the growth of the personal care and cosmetics markets.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the Global Squalene Market Includes Sophim, Amyris, Arista Industries Inc., SeaDragon Marine Oils Limited, Kishimoto Special Liver Oil Co. Ltd., Ekiz Olive Oil & Soap Inc., Nucelis LLC., and Other key Players.
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Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Squalene Market, Type Analysis
- Animal Source
- Vegetable Source
Squalene Market, End User Analysis
- Cosmetic
- Food
Squalene Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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