Increasing demand for cosmetics and personal care products will spearhead the squalene market in the forecast period, 2023-2027.
According to TechSci Research report, “Squalene Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global squalene market is anticipated to grow at a significant rate in the forecast period, 2023-2027. The increase in demand for cosmetics and personal care products are the primary factors driving the demand for the global squalene market. Growing expansion of pharmaceutical and cosmetic industries, consumption of dietary supplements is expected to influence the market demand. The increasing awareness of nutritional and health benefits and upsurge in demand for natural and organic ingredient is also a key factor for increasing the growth of the squalene market, globally.
However, Stringent regulations employed by the General Fisheries Commission of the Mediterranean (GFCM), Northeast Atlantic Fisheries Commission (NEAFC), Commission for Conservation of Antarctic Marine Living Resources (CCAMLR) toward shark killing concerns and fishing limitations likely hamper the growth of the market in the forecast period.
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The global squalene market is segmented into source, end user, and company.
Based on the source, the market is bifurcated into animal-based squalene, plant-based squalene, and biosynthetic squalene. The plant-based Squalene segment is expected to witness largest market share. This is attributed to the quick shift toward organic sources such as vegetables for production of squalene. Besides, increase in awareness regarding environment and strict regulations enforced by various governments to produce animal-based squalene has made the manufacturers become more linear towards using vegetables as a prime source for squalene production. This factor is rising growth of this segment in the global market.
Based on end user, the market is divided into cosmetics, pharmaceuticals, food, and others. The cosmetics segment is anticipated to grow during the forecast period. This is attributed to surge in awareness regarding personal grooming, which is propelling the cosmetics where squalene is extensively used in creams, bath oils, foundations and lotions to enhance its absorption. Furthermore, increasing young population has led to rise in demand for various beauty care products, which is likely to increase sales of squalene for enhancing absorption in creams, lotions and foundations. These factors are propelling the growth of the cosmetics segment in the global squalene market.
Major operating companies operating in global squalene market are:
- Amyris, Inc
- Merck KGaA
- Kishimoto Special Liver Oil Co., Ltd.
- Sophim
- Empresa Figueirense De Pesca, Lda
- Cibus Ltd.
- Arbee Biomarine Extracts Pvt Ltd
- Nucelis LLC
- Maruha Nichiro Corporation
- Gracefruit Limited
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“Europe region dominates the market in 2021 and is expected to maintain its dominance in the coming years due to increase in cosmetics and personal care products. Europe is one of the largest cosmetic industries in the world. Also, the higher spending power, increased demand for squalene from the pharmaceutical, demand for dietary supplements, and rising demand for premium cosmetics are expected to propel the global squalene market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Squalene Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Source (Animal Based Squalene, Plant Based Squalene, Biosynthetic Squalene), By End User Industry (Cosmetics, Pharmaceuticals, Food, Others), By Company, and By Region”, has evaluated the future growth potential of global squalene and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global squalene market.
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