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Squalene Market Expected to Reach $241.6 Million by 2030

 
2022
Squalene Market

Report Code : A01332

quote the global squalene market is expected to possess high growth potential in the coming years as squalene is used in different applications such cosmetics, healthcare, nutraceuticals, and others. Physiological benefits such as prevention from cancer, cardiovascular diseases, and antioxidant properties make squalene prime material in manufacturing various pharmaceutical ingredients. However, outbreak of the COVID-19 pandemic has negative impacts on the global squalene market. quote

According to Eswara Prasad
Team Lead Chemicals & Eswara Prasad, Manager

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According to a new report published by Allied Market Research, titled, "squalene market by source, and end use industry: global opportunity analysis and industry forecast, 2021–2030," “the global squalene market was valued at $114.5 million in 2020, and is projected to reach $241.6 million by 2030, growing at a CAGR of 7.8% from 2021 to 2030”.

Squalene is a natural oily liquid hydrocarbon found in plants and animals. It is commonly found in large quantities in animal oil. It is the most common lipid produced by human skin cells, making up approximately 10% of sebum.

Growth of cosmetics, health, and nutraceuticals industries is expected to fuel the market growth during the forecast period. Furthermore, increase in value & potential of dietary supplements and the fact that squalene is used as a chemo-preventive agent is expected to drive the global squalene market.

However, the overall slowdown in extraction of squalene from animals, owing to government regulations and volatility in pricings of raw materials are expected to hamper growth of the global squalene market during the forecast period.

On the contrary, the use of squalene as an antioxidant and immune system support is expected to offer major opportunities to the global squalene market.

The squalene market is segmented on the basis of source, end use industry, and region.

By source, the market is segregated into animal, vegetable, and synthetic biotechnology. The animal segment dominated the global market, in terms of revenue in 2020, with 70.2% of the total share. This is attributed to increase demand for animal-derived squalene among various end use sectors such as cosmetics & personal care, pharmaceutical, nutraceuticals, and others.

By end use industry the global market is divided into cosmetics, nutraceuticals, and healthcare. The cosmetics segment dominated the global market, in terms of revenue in 2020, with 85.1% of the total share. This is attributed to the increasing awareness for personal grooming activities where squalene is widely used in creams and lotions to enhance its spreadability and absorption.

Region-wise, the squalene market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific squalene market size is projected to grow at the highest CAGR during the forecast period, owing to rise in cosmetic and healthcare sectors that have enhanced demand for squalene in the Asia-Pacific. Moreover, the nutraceutical sector is witnessing a rapid growth, owing to rise in awareness for healthy lifestyles where squalene is widely used as a prime food supplement. These factors propel squalene market in this region.

Key players operating in the global squalene market include Amyris, Inc., ARISTA INDUSTRIES INC, Empresa Figueirense De Pesca, Lda, Gracefruit Limited, Kshimoto Special Liver Oil Co., LTD., New Zealand Green Health Ltd, NUCELIS LLC, Otto Chemie Pvt. Ltd., SEADRAGON MARINE OILS LIMITED, and SOPHIM IBERIA S.L.

COVID-19 analysis

Novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and economy around the globe. The major end-users of squalene such as cosmetics, and nutraceuticals have been negatively impacted due to the ongoing pandemic outbreak. The ongoing health crisis has increased the supply-demand gap hampering the global squalene supply chain. In addition, several biotech laboratories have either shut down or shrank their operations, owing to risk of infections among the workforce. This has reduced production rate of squalene to witness a downfall amid the COVID-19 pandemic. Moreover, more than 100 countries have locked their international borders for transportation and non-essential trade activities, which, in turn, have reduced the use of squalene among several end-use sectors. In 2020, squalene prices are expected to be higher in Asia. The price rise is due to continued regional demand trends and tight product availability. Firm downstream demand for squalene and stronger upstream costs are expected to sustain the price gain. However, dependence of squalene on healthcare and nutraceuticals sector may lead the squalene market to recover soon post COVID-19 scenario. For instance, according to a report published by the U.S. National Library of Medicine, the sales for dietary supplements in the U.S. increased by 44% in April 2020 as compared to April 2019. This is expected to enhance performance of the squalene market post-COVID-19 scenario.

Key findings of the study

  • The animal segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.0% from 2021 to 2030.
  • The cosmetics segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.7% from 2021 to 2030.
  • Europe garnered the highest share of 37.5% in 2020, in terms of revenue, growing at a CAGR of 8.0%.
 

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quote Squalene Market by Source (Animal, Vegetable, and Synthetic Biotechnology), End Use Industry (Cosmetics, Nutraceuticals, and Healthcare): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

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