Squalene Market to grow USD 202 million by 2028

"Growth in R&D activities in pharmaceutical industry is expected to drive the squalene market."

In terms of value, the squalene market is estimated to grow from USD 141 million in 2022 to USD 202 million by 2028, at a CAGR of 6.3%. The growth of the pharmaceutical, food and cosmetic industries is driving the demand for squalene. To create novel medications and treatments, pharmaceutical corporations frequently engage in R&D. Squalene has been studied for its potential health benefits, including its role as an adjuvant in vaccines. If pharmaceutical R&D leads to the development of new medicines or vaccines that incorporate squalene as an ingredient, the demand for squalene could rise. Squalene has being researched for potential therapeutic uses outside of vaccinations, such as its involvement in treating specific medical problems. Squalene's demand as an active pharmaceutical ingredient (API) could increase if pharmaceutical R&D discovers new therapeutic uses for it.

"Vegetable is expected to be the second fastest-growing source of the squalene market, in terms of value, during the forecast period."

Squalene derived from vegetable sources is thought to be more environmentally friendly and sustainable than squalene generated from animal sources, such shark liver oil. As environmental concerns and ethical considerations gain prominence, the demand for sustainable ingredients has increased. A lot of customers look for goods that fit with their nutritional and ethical standards. People who live vegetarian or vegan diets, as well as those who favour cruelty-free and environmentally responsible products, are drawn to plant-based squalene. All these factor drive the demand for vegetable source squalene.

"Cosmetics is expected to be the second fastest-growing end-use industry of the squalene market, in terms of value, during the forecast period."

As consumers become more environmentally conscious, there is a preference for natural and sustainable skincare ingredients. Squalene reinforces the skin's natural barrier, helping to keep it healthy and resilient. Additionally, it can help with moisture barrier repair for the skin, especially when used in skincare products for dry or injured skin. The demand for squalene in cosmetics and skincare is driven by its natural and beneficial properties, its compatibility with various skin types, and consumer preferences for sustainable and effective ingredients.

"Asia Pacific is projected to be the fastest growing region, in terms of value, during the forecast period in the squalene market."

Asia Pacific is known for its low cost of labor, easy availability of raw materials, increase in adoption of modern technologies, innovations, and easy availability of inexpensive lands, which makes it the global hub for manufacturing. The increasing population in countries like India and China, drives the demand for cosmetics, food and pharmaceutical products. Asia Pacific's pharmaceutical industry is growing and actively involved in research and development. Squalene is used in pharmaceutical applications, including as an adjuvant in vaccines, which may contribute to its demand. Also factors such as rising middle class population, demand for vegan and cruelty-free products and health and wellness trends fuels the demand for squalene in this region.

By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
By Region: North America - 32%, Europe - 21%, Asia Pacific - 28%, Middle East & Africa - 12%, South America - 7%

The key players profiled in the report include Amyris, Inc (US), SOPHIM (France), Merck KGaA (Germany), Kishimoto Special Liver Oil Co., Ltd. (Japan), Empresa Figueirense De Pesca (Portugal), Arbee (India), Cibus (US), Otto Chemie Pvt. Ltd. (India), Arista Industries (US), and Oleicfat s.l. (Spain).

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This release was published on openPR.