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According to the Market Statsville Group (MSG), the global squalene market size is expected to grow around USD 269.4 billion by 2033, at a CAGR of 6.2% from 2023 to 2033.
Unsaturated hydrocarbon squalene has a variety of uses, including in the nutraceutical, cosmetic, and medical fields. Animal oil is substantial, whereas vegetables and synthetic technologies can provide modest amounts. Vegetable sources include amaranth seeds, olives, and wheat germ are also sources of squalene. The naturally produced squalene diminishes with aging. It is primarily used for its medicinal and pharmacological advantages, including its capacity to operate as an antioxidant, chemo-preventive agent, and immune system booster. Also, it is significantly used in cosmetic products like lipsticks, eye shadows, deodorants, and anti-aging creams.
Global Squalene Market DynamicsDrivers: Health Benefits of SqualeneThe major driving force of the squalene market is its health benefits. Squalene is naturally found in minor amounts in the skin and has various features like anti-aging, UV protection, and anti-oxidation, which is why it is widely used in cosmetics. Squalene acts as a quencher of singlet oxygen in the skin and is not easily affected by peroxidation. As a result, it shields the surface of human skin from exposure to UV light and other forms of oxidative damage. Additionally, squalene helps reduce cholesterol levels, enhances immunity, and normalizes plasma sterol levels. Due to this, it is prevalent in nutraceuticals, which is also a growth-inducing segment.
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Restraints: Regulations on Shark KillingSqualene is extracted from shark liver oil, and rising demand for squalene would lead to the overfishing of sharks. Hence, owing to animal protection activities, many laws have been made concerning the fishing of sharks. According to the International Trade of Endangered Species report, around five sharks are on the verge of extinction. The aforementioned factors restrain the squalene market as the supply of shark livers has decreased, eventually affecting the supply of squalene.
Opportunities: Increased R&D for New Renewable Sources of SqualeneDue to the reduction in the supply of shark liver, new alternative sources of squalene need to be developed. The squalene concentration in vegetable oils is very low, and huge quantities of amaranth and olives are required to produce a small amount of squalene. Hence, it creates many opportunities for emerging players to create an alternative through extensive research and development. Additionally, research in the lab has demonstrated that squalene improves macrophage performance. Additionally, it has anti-bacterial, anti-viral, and anti-fungal qualities that make it appropriate for pharmaceutical use. These parameters are expected to create new opportunities in the global squalene industry.
Scope of the Global Squalene MarketThe study categorizes the squalene market based on the source type and end-use at the regional and global levels.
By Source Type Outlook (Sales, USD Billion, 2019-2033)
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Biosynthetic Squalene segment is projected to grow at the highest CAGR during the forecast period by Source TypeBased on source type, the market is bifurcated into vegetable-sourced, animal-sourced, and biosynthetic squalene. The biosynthetic segment is anticipated to experience the fastest expansion rate in terms of growth. This is because it is a renewable resource, raw materials are consistently available, and squalene derived from animals is subject to laws and mistrust. Squalene derived from plants and animals is more expensive to produce than synthetic squalene.
Europe is projected to account for the largest market share, by RegionBased on the regions, the global squalene market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Europe will dominate the global squalene market in 2022. The market in the region is being driven by the rising need for high-quality products from the cosmetics, food, and pharmaceutical end-use sectors. In recent years, the market has substituted squalene derived from animals with squalene derived from vegetables. It is expected that this trend will not change throughout the forecasted period. The market in Europe is expected to be driven by customers with high purchasing power and increasing demand for high-end cosmetic items throughout the projected period
Key Market Players in the Global Squalene MarketMajor players in the sector have turned to initiatives like product development, collaborations, acquisitions, agreements, and growth to strengthen market positions in the fiercely competitive squalene market. Most market businesses concentrate on growing operations globally, improving their capabilities, and cultivating solid partner relationships.
Major key players in the global squalene market are:Request For Report TOC: https://www.marketstatsville.com/table-of-content/squalene-market
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