Squalene Market worth $198 million by 2027
According to the new market research report “Squalene Market by Source Type (Animal Source (Shark Liver Oil), Vegetable Source (Olive Oil, Palm Oil, Amaranth Oil), Biosynthetic (GM Yeast), End-use Industry (Cosmetics, Food and Pharmaceuticals) and Region – Global Forecast to 2027″, will grow to USD 198 million by 2027, at a CAGR of 6.8% from USD 143 million in 2022.
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This growth is primarily triggered by the growing demand for cosmetic products. The cosmetics industry stands to be the growing segment, owing to the increasing consumer awareness, along with higher consumer spending power for natural cosmetics and personal care products. Squalene is found in several moisturizers and face creams due to its immense benefits for the skin, and it is a prominent ingredient in anti-aging creams. The growing demand for natural ingredients (especially plant-derived), for cosmetic and personal care products by consumers because of the harmful effects of fossil fuel sources is most likely to drive the squalene market.
Vegetable-source is estimated to be the largest source type of squalene market in 2021
Vegetable-sourced squalene accounted for the largest share of the global squalene market, in 2021. It is costlier than animal-sourced squalene due to the lower concentration of squalene. With new technologies and bigger centralized production units, the prices are expected to decrease marginally in the future. The disapproval and regulations restraining the hunting of sharks have popularized the vegetable sources for obtaining squalene. Also, the increasing demand for cosmetic products is driving the market for vegetable-sourced squalene.
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The squalene market is estimated to grow to USD 198 million by 2027 from USD 143 million in 2022, at a CAGR of 6.8% between 2022 and 2027. Growth in R&D activities in pharmaceuticals industry and rising popularity in nutraceuticals is expected to support the growth of the squalene market. However, consumer skepticism about animal-sourced products and limitations on shark fishing is restraining the growth of the market. On the other hand, new renewable sources for production have created opportunities for manufacturers.
Amyris, Inc (US), SOPHIM (France), Merck KGaA (Germany), Kishimoto Special Liver Oil Co., Ltd. (Japan), Empresa Figueirense De Pesca (Portugal), Arbee (India), Oleicfat S.L. (Spain), NZ Green Health Ltd. (New Zealand), Otto Chemie Pvt. Ltd. (India) and Cibus (US), among others are the major players in this market.
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Amyris, Inc. is a biotechnology company that manufactures and commercializes consumer products and ingredients such as clean beauty, personal care, and health & wellness consumer products. The company also sells sustainable ingredients to sector leaders that serve flavor & fragrance (F&F), nutrition, food & beverage, and clean beauty & personal care end markets. The common stock of the company is traded on the NASDAQ Global Select Market under the symbol AMRS. The company operates its business into three segments: renewable products, licenses and royalties, and collaborations, grants and other. The company offers squalene through the renewable products segment.
SOPHIM is a company specializing in the manufacturing of natural ingredients for the cosmetics industry. The core business of the company is based on the expertise of innovative distillation, esterification, and hydrogenation processes. The company has divided its product portfolio into four categories: natural emollients such as squalene & silicone alternatives, texture agents, fixing agents, and vegetable oils in cosmetics.
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