The global squalene market size is expected to reach USD 356.14 million by 2032, according to a new study by Polaris Market Research. The report “Squalene Market Share, Size, Trends, Industry Analysis Report, By Source (Animal, Amaranth Oil, Synthetic); By End-Use; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The pharmaceutical industry’s expansion is likely to be a significant driver of squalene demand in the future. Increased pharmaceutical R&D activities have increased the potential uses of squalene in a variety of end-use industries. Plant-based squalene is a bioidentical hydrator derived mostly from sustainably cultivated sugarcane that is a molecular match for the moisture found in human skin. Plant-based sourcing helps save 2 million sharks each year, who were formerly hunted for their squalene-rich livers.
Shark liver oil provides the most squalene (30%) of any vegetable source and has historically met most of the market’s demands. Several legislative and environmental agencies have called for a moratorium on deep ocean fishing owing to the overfishing of sharks for their liver oil. This has resulted in a more than 60% decline in worldwide consumption over the last 10 years.
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Shark fin oil is the primary source of squalene, the availability of this material has been restricted due to regulations aimed at safeguarding marine life. According to the International Trade of Endangered Species, roughly five shark species are on the verge of extinction. This is expected to drastically diminish squalene availability, limiting shark-derived squalene in the medium run.
The longevity of the squalene market in the cosmetics business is dependent on the skincare segment. Squalene has several uses in the skincare industry, including face care, hand and body care, and sun care. The region’s demand is being driven mostly by increased consumer awareness of the need of utilising high-quality products and tolerance to pay for premium items. The increased awareness of the hazards of sun exposure is a major element driving market expansion in the skincare section of the makeup industry.
Europe dominated the market owing to major producers like France and Germany. Asia Pacific is expected to witness the fastest growth over the forecast period. The Asia Pacific market’s expansion may be linked to the simple availability of inexpensive labor, raw materials, and the ease of setting up production facilities.
Squalene Market Report Highlights
- By Geography, Europe held a significant share in 2022, due to the high demand in developed economies in the beauty and cosmetic industry.
- Plant-based segment is dominating owing to a huge consumer shift from inorganically derived ingredients to organic ingredients.
- By application, cosmetics are projected to witness huge market opportunities from countries like China, South Korea, and India. Furthermore, the huge population in this region is another factor anticipated to aid in the market growth.
- Key players in the market include Amyris, ARISTA INDUSTRIES, EMPRESA FIGUEIRENSE, Gracefruit Limited, Kshimoto Special Liver
Polaris Research has segmented the Squalene market report based on wallet type, application, and region:
Squalene, Type Outlook (Revenue – USD Million, 2019 – 2032)
- Shark Liver Oil
- Amaranth Oil
- Olive Oil
- Rice Bran Oil Plants
Squalene, Application Outlook (Revenue – USD Million, 2019 – 2032)
- Personal Care & Cosmetics
- Food & Beverages
Squalene, Regional Outlook (Revenue – USD Million, 2019 – 2032)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa