Global Squalene Market to Reach US$ 192.7 Million by 2027, Catalyzed by Significant growth in Cosmetics Industry

December 01, 2022

According to the latest report by IMARC Group, titled “Squalene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global squalene market size reached US$ 125.8 Million in 2021. Squalene (C30H50) is a clear, colorless poly-unsaturated hydrocarbon liquid with a faint odor derived from plants and animals. It is obtained from olives, shark livers, wheat germs, amaranth seeds, rice bran, palm oil, and sugarcane. Squalene is widely used in manufacturing nutraceuticals, cosmetics, personal care products, drugs, organic coloring agents, rubber chemicals, and surface-active agents. It is insoluble in water but dissolves readily in petroleum ether, carbon tetrachloride, acetone, and other fat solvents. Squalene offers anti-cancer, antioxidant, detoxifying, hydrating, and emollient properties that improve skin health, prevent fungal infections, and reduce free radicals. It also helps restore the immune system, increases collagen production, and lowers triglyceride and cholesterol levels.

Squalene Market Trends:

The rising product utilization in the cosmetics industry is one of the primary factors driving the market growth. Squalene is widely used in moisturizers, face creams, lotions, lipsticks, hair conditioners, bath oils, and foundations owing to its anti-aging, anti-inflammatory, detoxifying, and hydrating properties. In addition to this, increasing demand for natural and plant-derived ingredients in cosmetics and personal care products due to rising consumer awareness regarding the adverse effect of fossil fuel-based ingredients are acting as another growth-inducing factor. Furthermore, the extensive incorporation of squalene in pharmaceutical formulations to reduce dosage side effects, increase white blood cell counts during cancer therapy, and treat leukemia, cold, flu, and swine flu is providing an impetus to the market growth. In line with this, the increasing product application in COVID-19 vaccines to boost the immune response is favoring the market growth. Additionally, the introduction of a new production method that uses tobacco crops as a renewable source for producing high-quality squalene for application in cosmetics and medicines is positively influencing the market growth. Moreover, increasing product utilization in manufacturing dietary supplements that enhance overall immunity, normalize plasma sterol levels, and aid in preventing arthritis, asthma, and psoriasis, is propelling the market growth. Other factors, including aggressive promotional campaigns by manufacturers, extensive research and development (R&D) activities in oncology, and increasing consumer awareness regarding various product benefits, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 192.7 Million by 2027, exhibiting a CAGR of 7.27% during 2022-2027.

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 classified into cosmetics, food, pharmaceuticals, and others.
  • On a regional basis, the market has been categorized 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 industry has also been examined, with some of the key players being 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.
     

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Global Squalene Market to Reach US$ 192.7 Million by 2027, Catalyzed by Significant growth in Cosmetics Industry
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