Squalene Market Size is projected to reach USD 308.9 Million by 2028, growing at a CAGR of 7.7%
According to a recent report by Reports and Data, the global market for Squalene is projected to achieve a value of USD 308.9 Million by 2028. The primary driver for this growth is the increasing use of squalene as a chemo-preventive agent.
The market's expansion is further fueled by the rising demand for anti-aging cosmetic creams and the growing utilization of squalene in the pharmaceutical industry. Urbanization, coupled with higher disposable incomes in emerging economies, has led to increased penetration of health supplements and cosmetics. Squalene oil contains ingredients known to enhance the immune system response, with alkylglycerols that are consumed to combat colds, viruses, and infections. The supplement also offers potential relief for conditions such as arthritis, asthma, and psoriasis. Moreover, the oil's macrophages promote faster wound healing.
In the cosmetics industry, squalane oil is utilized to counter skin-damaging free radicals that contribute to signs of aging. It helps balance oil production, providing adequate moisture to maintain clear, healthy skin free from acne and eczema. The oil also improves blood circulation, resulting in firmer, plumper, and more radiant skin.
However, the squalene industry faces challenges in terms of raw material availability due to the banning of shark killing by several governments, which may hinder market growth.
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Key findings from the report include:
- The market is segmented based on source into animal-based, plant-based, and synthetic biotechnology.
- The plant-based segment held the largest market share (~56%) in 2020 and is derived from sources such as olive oil, amaranth oil, wheat germ, and rice bran oil. Its easy availability in various regions, including North America, Europe, and the Asia Pacific, will contribute to segment growth.
- The market is segmented based on formulation into tablets/capsules, liquid, powder, and softgels.
- The softgels segment accounted for the largest market share (30%) in 2020, driven by demand from the food supplements sector. These supplements are highly consumed as their components enhance the immune system response.
- The market is segmented based on applications into cosmetics, food supplements, and healthcare & pharmaceuticals.
- The food supplements segment is expected to witness a CAGR of over 12.0% during the forecast period, driven by increasing disposable incomes and awareness of a healthy lifestyle.
- Geographically, the Asia Pacific region is projected to experience the highest growth rate (10.2%) during the forecast period, primarily due to the booming cosmetics industry in emerging countries like India and China. Increasing popularity of dietary supplements, driven by rising disposable incomes and growing health awareness, will also contribute to market growth in the region.
Key participants in the market include Amyris, Sophim, Kishimoto Special Liver Oil, SeaDragon Marine Oil, Nucelis LLC, Ekiz Olive Oil and Soap Inc., Maruha Nichiro Corp., LDA, Empresa Figueirrense de Pesca, and VESTAN, among others. These companies have implemented strategies such as mergers, acquisitions, and partnerships to conduct ongoing research and development activities.
Squalene Market: Drive factors
Factors driving the Squalene market include:
- Increased use as a chemo-preventive agent: Squalene is being increasingly utilized as a chemo-preventive agent, which is contributing to the growth of the market. It is being recognized for its potential in preventing and treating various diseases.
- Growing demand in the cosmetics industry: The demand for anti-aging cosmetic creams and products is on the rise. Squalene, particularly in the form of squalane oil, is used in the cosmetics industry due to its ability to combat skin-damaging free radicals and provide moisture, resulting in healthier and younger-looking skin.
- Expansion in the pharmaceutical industry: Squalene finds applications in the pharmaceutical industry as well. Its immune-boosting properties, along with its potential benefits in conditions like arthritis, asthma, and psoriasis, are driving its demand in the healthcare and pharmaceutical sectors.
- Urbanization and rising disposable income: Rapid urbanization, especially in emerging economies, is leading to increased disposable income and lifestyle changes. This is driving the penetration of health supplements and cosmetics, creating a favorable market environment for squalene.
- Health benefits and immune system enhancement: Squalene oil contains ingredients like alkylglycerols, which are known to enhance the immune system response. Additionally, squalene supplements are consumed for their potential benefits against colds, viruses, and infections, as well as for promoting wound healing.
These factors, combined with the ongoing research and development activities by key market participants, are expected to drive the growth of the Squalene market in the coming years.
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