Squalene Market Outlook - 2021–2030
The global squalene market size was valued at $114.5 million in 2020, and is projected to reach $241.6 million by 2030, growing at a CAGR of 7.8% from 2021 to 2030.
Squalene is an unsaturated hydrocarbon that can be used in various industries, which include cosmetics, nutraceutical, and healthcare. It is found in large quantity in animal oil and can be obtained in small quantities from vegetables & synthetic biotechnology. Other sources of squalene include vegetable sources, such as amaranth seeds, olives, and wheat germ. It is naturally produced by all organisms, even humans, where the amount of squalene gradually decreases with age. It is mainly used for its medicinal and pharmacological benefits, such as acting as a chemo-preventive agent, antioxidant, and immune system restorer.
Increase in awareness regarding hygiene and personal grooming activities has surged the demand for various cosmetic products where squalene is widely used in producing creams and lotions to increase their spread ability and absorption. This acts as one of the key drivers for growth of the squalene market. In addition, squalene supplementation has shown positive response in humans, owing to its potential to reduce cholesterol levels, normalizing plasma sterol levels, and enhancing the overall immunity. This has led to rise in popularity of squalene in nutraceuticals; thus boosting growth of the squalene market.
However, increasing regulations for marine animal protection activities has hampered the supply of squalene, owing to the fact that shark fin oil is the biggest source of squalene production. Moreover, according to a report published by the International Trade of Endangered Species, around five species of sharks are on the verge of extinction. This is expected to further decrease the supply of squalene; thus restraining the market growth.
On the contrary, increase in R&D activities have led to rise in potential applications of squalene in several end-use sectors. For instance, experimental studies have shown that squalene-supplemented diets lead to increased performance of the immune system. In addition, laboratory studies have confirmed that squalene enhances the function of macrophages. Furthermore, it exhibits anti-viral, anti-fungal, and anti-bacterial properties that make it suitable for use in the pharmaceutical sector. These factors are anticipated to offer new opportunity in the global squalene market.
The global squalene market analysis is done on the basis of source, end use industry, and region. Depending on source, the market is divided into animal, vegetable, and synthetic biotechnology. On the basis of end use industry, it is fragmented into cosmetics, nutraceuticals, and healthcare. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Amyris, Inc., ARISTA INDUSTRIES INC, Empresa Figueirense De Pesca, Lda, Gracefruit Limited, Kshimoto Special Liver Oil Co., LTD., New Zealand Green Health Ltd, NUCELIS LLC, Otto Chemie Pvt. Ltd., SEADRAGON MARINE OILS LIMITED, and SOPHIM IBERIA S.L.
Squalene market, by region
The Asia-Pacific squalene market size is projected to grow at the highest CAGR of 8.7% during the forecast period, and accounted for 29.3% of the squalene market share in 2020. This is attributed to increase in demand for squalene in cosmetics, health care, and nutraceuticals industries in Asia-Pacific. Furthermore, manufacturers across the globe find Asia-Pacific as an attractive market, owing to cheap labor cost, low cost of setting up manufacturing units, and low cost of squalene. These factors drive the squalene market in this region.
By Region
Asia Pacific is the fastest growing region
Squalene market, by Source
In 2020, the vegetable segment is projected to grow at the highest CAGR of 9.5% during the forecast period and accounted for 19.2% of the squalene market share in 2020. This is attributed to the rapid shift toward organic sources such as vegetables for production of squalene. Furthermore, increase in awareness regarding environment and ecosystem and strict regulations imposed by various governments for the production of squalene from animal has made the manufacturers become more linear towards using vegetable as a prime source for squalene production. This factor is escalating growth of this segment in the global market.
By Source
Vegetable is the fastest growing segment
Squalene market, by end use industry
By end use industry, the cosmetics segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 7.7% during the forecast period. This is attributed to increase in awareness regarding personal grooming, which, in turn, has led the cosmetics sector to witness a significant increase in demand where squalene is widely used in creams and lotions to enhance its spreadability and absorption. In addition, increasing young population in both developed and developed economies has led to rise in demand for various beauty care products, which may increase sales of squalene for enhancing absorption in creams and lotions. These factors propel growth of the cosmetics segment in the global squalene market.
By End-use Industry
Soil Amendment is the most lucrative segment
Key Benefits For Stakeholders
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current squalene market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Impact Of Covid-19 On The Global Squalene Market
- The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe.
- The major end-users of squalene such as cosmetics, nutraceuticals, and other sectors have been negatively impacted due to the ongoing pandemic outbreak.
- The ongoing health crisis has increased the supply-demand gap, hampering the global squalene supply chain.
- In addition, several biotech laboratories have either shut down or shrank their operations due to the risk of infections among the workforce. This has reduced the production rate of squalene, which witnessed a decline amid the Covid-19 Pandemic.
- Moreover, more than 100 countries have locked their international borders for transportation and non-essential trade activities, which have reduced the use of squalene among several end-use sectors.
- In 2020, squalene prices were higher in Asia. The price rise was due to continuous regional demand trends and tight product availability. Firm downstream demand for squalene and stronger upstream costs are expected to sustain the price gain.
- However, dependence of squalene on healthcare and nutraceuticals sector may lead the squalene market to recover soon post COVID-19 scenario. For instance, according to a report published by the U.S. National Library of Medicine, sales for dietary supplements in the U.S. increased by 44% in April 2020 as compared to April 2019.
Squalene Market Report Highlights
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Analyst Review
According to CXOs of leading companies, the global squalene market is expected to exhibit high growth potential. Rise in demand from end users, especially from developing countries and continuous technological advancements are the key driving factors for the global squalene market. However, the overall slowdown in extraction of squalene from shark liver due to government regulations is expected to hinder the market growth. According to CXOs, Asia-Pacific is projected to register significant growth as compared to the markets of North America and Europe.
In addition, squalene is widely used as a chemo-preventive agent that reduces chemical initiation of some kinds of cancers and promotes regression of pre-existing tumors. This has made customers more linear toward purchasing squalene-based pharmaceutical ingredients for chemotherapy and cancer treatment.
CXOs further added that sustained economic growth and development of healthcare sector have increased the popularity of squalene.
The growth of cosmetics industry, increase in value and potential of dietary supplements, and the use of squalene as a chemo-preventive agent are the key factors boosting the squalene market growth.
Amyris, Inc., ARISTA INDUSTRIES INC, Empresa Figueirense De Pesca, Lda, Gracefruit Limited, Kshimoto Special Liver Oil Co., LTD., New Zealand Green Health Ltd, NUCELIS LLC, Otto Chemie Pvt. Ltd., SEADRAGON MARINE OILS LIMITED, and SOPHIM IBERIA S.L are the leading players in squalene market.
Cosmetics, nutraceuticals, and healthcare industries are projected to increase the demand for squalene market.
The global squalene market analysis is done on the basis of source, end use industry, and region. Depending on source, the market is divided into animal, vegetable, and synthetic biotechnology.
The increasing use of squalene in manufacturing creams and lotions, dietary supplements, and various drugs are expected to drive the adoption of squalene.
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