Press release
Global Squalene Market to be driven at a CAGR of 7% in the Forecast Period of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2028-2028)
• Historical Market Size (2020): USD 140 Million
• Forecast CAGR (2023-2028): 7%
• Forecast Market Size (2028): USD 207 Million
The growth of global squalene market is primarily driven by the demand from cosmetics industry. The increasing use of squalene as a moisturiser is boosting the growth. The increasing awareness of the product's detoxifying, hydrating and emollient properties, coupled with its various health benefits, such as white blood cell rejuvenation, immune system activation, and others, is promoting the growth.
Moreover, the growth is further propelled by the demand from the pharmaceutical and food supplements industries. Squalene is commonly used in the pharmaceutical industry because it decreases the level of carcinogenesis and cholesterol and helps to treat cancer and cardiovascular diseases. Additionally, factors such as sales of cosmetics and health supplements, rapid urbanization and growing disposable incomes are expected to push the growth further in the forecast period.
Industry Definition and Major Segments
Squalene refers to an unsaturated hydrocarbon chemical, which is extracted from shark liver. It is used as a moisturizing agent and has many beneficial properties such as anti-oxidation, anti-aging, UV protection, and others. It is utilized in the cosmetic, pharmaceutical, and food industries.
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Based on source, the market is divided into:
• Shark Liver
• Vegetable
• Biosynthetic
By application, the industry is segmented into:
• Cosmetics
• Food
• Pharmaceuticals
• Others
The regional markets for squalene include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
Regionally, Europe is the largest shareholder in the global squalene market. This can be attributed to demand from cosmetic industry in the region. Meanwhile, in North America squalene market is expected to grow owing to high consumer buying power, increased emphasis on beauty and grooming, and increasing demand for premium cosmetics. The growing pharmaceutical industry is fuelling the demand for squalene even further in the forecast period.
Key Market Players
The major players in the market are Amyris, Inc., Empresa Figueirense de Pesca, Lda, Arbee Bio Marine Extracts Pvt Ltd, Sophim, Nucelis, Gracefruit Limited., and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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