Global Squalene Market to Reach US$ 206.5 Million by 2028, Propelled by the Widespread Product Utilization in the Cosmetic Industry

March 31, 2023 | Chemical & Materials

The latest report by IMARC, titled “Squalene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", finds that the global squalene market size reached US$ 135.7 Million in 2022. Squalene refers to a naturally occurring organic compound found in various sources, such as shark liver oil, vegetable oils, and some fish oils. It is a type of unsaturated hydrocarbon that is usually used in the production of cosmetics, dietary supplements, and pharmaceuticals. Squalene is present in small quantities in the liver and skin inside the human body. It helps in the production of certain hormones and aids in the maintenance of the health and structure of cell membranes. Squalene also exhibits antioxidant properties and has numerous other health benefits. In recent years, squalene has gained traction due to its wide employment in producing various vaccines as an adjuvant, which helps to enhance the immune response to the vaccine.

Global Squalene Market Trends:

One of the primary factors driving the market is the widespread product utilization in the cosmetic industry as an ingredient in skincare and haircare products due to its moisturizing and emollient properties. Furthermore, it can help to hydrate and soften the skin, and is often used in anti-aging and sun protection formulations. Additionally, squalene assists in the treatment of certain medical conditions, such as cancer and cardiovascular disease, thereby creating a positive market outlook. Other than this, the increasing health consciousness among individuals, along with the augmenting demand for dietary supplements and functional food products, is positively influencing the market growth. Besides this, the rising adoption of sustainable and advanced oil extraction procedures and the introduction of numerous product variants by key players are propelling the market growth. Moreover, extensive research and development (R&D) activities in the field of biotechnology are creating lucrative growth opportunities for the key players operating in the industry. Looking forward, IMARC Group expects the market value to reach US$ 206.5 Million by 2028, expanding at a CAGR of 7.16% during the forecast period (2023-2028).

Market Summary:

On the basis of the source type, the market has been divided into animal, vegetable, and synthetic.
Based on the application, the market has been segregated into cosmetics, food, pharmaceuticals, and others.
Region-wise, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been analyzed, with some of the key players being Amyris Inc., Arbee Agencies, Arista Industries Inc., Empresa Figueirese De Pesca Ltd., Gracefruit Limited, Kishimoto Special Liver Oil, Maruha Nichiro Corporation, Nucelis Inc. (Cibus Ltd.), SeaDragon Marine Oils Limited, Sophim, and VESTAN Squalene Hydrogenation and Purification.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Million
Segment Coverage	Source Type, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Amyris Inc., Arbee Agencies, Arista Industries Inc., Empresa Figueirense De Pesca Lda, Gracefruit Limited, Kishimoto Special Liver Oil, Maruha Nichiro Corporation, Nucelis Inc. (Cibus Ltd.), SeaDragon Marine Oils Limited, Sophim, and VESTAN Squalene Hydrogenation and Purification
Customization Scope	10% Free Customization
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Global Squalene Market to Reach US$ 206.5 Million by 2028, Propelled by the Widespread Product Utilization in the Cosmetic Industry

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