Global Squalene Market || Arista Industries, Inc., Amyris Biotechnologies, Maruha Nichiro Corporation, Nucelis LLC, Sophim, Arbee Agencies, Gracefruit Limited, Empresa Figueirense De Pesca Lda

Squalene is a natural organic compound obtained primarily from shark liver oil for commercial purposes. All plants and animals, including humans, produce squalene as a biochemical intermediate. Growing awareness regarding the beneficial properties of squalene on human health along with growth in the cosmetics and pharmaceuticals industry is the major propellant for the growth of the squalene market. The global pharmaceutical revenue rose US$ 1.25 trillion in 2019 and is projected to grow with 7-8% in the upcoming years. Rising R&D in the oncology segment along with growing spending on oncology medicines over the forecast period is likely to boost the market growth.Squalene is a natural organic compound obtained primarily from shark liver oil for commercial purposes. All plants and animals, including humans, produce squalene as a biochemical intermediate. Growing awareness regarding the beneficial properties of squalene on human health along with growth in the cosmetics and pharmaceuticals industry is the major propellant for the growth of the squalene market. The global pharmaceutical revenue rose US$ 1.25 trillion in 2019 and is projected to grow with 7-8% in the upcoming years. Rising R&D in the oncology segment along with growing spending on oncology medicines over the forecast period is likely to boost the market growth.

COVID-19 Impact on the Market:

With the outbreak of the COVID-19, various businesses are at the forefront to combat this pandemic. The pandemic has hindered the industrial supply chain and also disrupted the production segment. Government across the countries has imposed strict lockdown to limit the spread of disease. However, increasing investments by prominent players and other industries has created growth opportunities, during this chaotic situation, to fulfill the demand of suppliers. However, the personal care industry is also experiencing negative growth, which will decline the demand for squalene in 2020. In Europe, the demand for luxury beauty products is very, but due to the lockdown, the demand for squalene has declined. L’Oréal (France) a leading cosmetics manufacturer has announced a decline in revenue of about 5% for the first quarter of 2020. This report will quantify the impact of this pandemic on the squalene market.

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Increased R&D and spending on oncology medicines are projected to fuel the industry size. For instance, according to the recent analysis by the IQVIA Institute for Human Data Science, the global oncology-drug market reached US$133 billion in 2017. In the US, the spending on cancer drugs has doubled since 2012 with the huge share tied to drugs launched. Whereas, the overall spending on cancer therapies and supportive-care products increased to US$133 billion in 2017 globally, up from US$96 billion in 2013. Moreover, the spending on oncology medicines over the forecast period is anticipated to be in the range of 6.0–8.0%, which is likely to propel the squalene market.

Furthermore, the surging cosmetic industry in developing markets such as India, China, and Brazil, growing consumer awareness related to the use of high-quality cosmetic products, and willingness to pay premium prices are promoting the cosmetic industry growth at a global level. Hence, fueling the growth if the global squalene market.

However, several governing agencies such as the North-East Atlantic Fisheries Commission (NEAFC), North Atlantic Fisheries Organization (NAFO), General Fisheries Commission of the Mediterranean (GFCM), and Commission for Conservation of Antarctic Marine Living Resources (CCAMLR) have imposed limitations such as fixed quotas for shark fishing, which, in turn, has led to the short supply of shark liver and, thereby affected growth of the overall squalene market.

Key Players:
The key players operating in the global squalene market include Arista Industries, Inc., Amyris Biotechnologies, Maruha Nichiro Corporation, Nucelis LLC, Sophim, Arbee Agencies, Gracefruit Limited, Empresa Figueirense De Pesca Lda, SeaDragon Marine Oils, VESTAN Squalene Hydrogenation and Purification, and Kishimoto Special Liver Oil. Companies are increasing their investments in R&D to expand its product portfolio and market presence. For instance, in October 2020, Amyris, Inc., a leading synthetic biotechnology company in Clean Health and Beauty markets announced that it is currently delivering samples to pharmaceutical companies of a sustainable and scalable alternative to shark-based vaccine adjuvants currently used in a number of vaccines, including those directed at influenza and COVID-19.

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This release was published on openPR.