Squalene Market Size – USD 171.3 Million in 2020, Market Growth – CAGR of 7.7%, Market Trends – Demand for squalene in the pharmaceutical industry.
NEW YORK CITY, NY, UNITED STATES, November 27, 2021 /EINPresswire.com/ — The increase in the use of squalene as a chemo-preventive agent is influencing the market growth. The global Squalene Market is expected to reach USD 308.9 Million by 2028, according to a new report by Reports and Data. This can be mainly contributed by increase in the use of squalene as a chemo-preventive agent.
Growing demand for anti-aging cosmetic creams, as well as the growing demand for squalene in the pharmaceutical industry, is fueling the growth of the market. Rapid urbanization and increasing disposable income in the emerging economies are resulting in the penetration of health supplements and cosmetics. Ingredients in squalene oil are known to enhance the immune system response of an individual. The supplement includes alkylglycerols, which are consumed against cold, viruses, and infections. Many conditions, such as arthritis, asthma, and psoriasis, may also be alleviated by the supplement. Additionally, the macrophages in its oil are promoted for their ability to help wounds heal faster.
Moreover, in the cosmetics industry, squalane oil is used against skin-damaging free radicals that contribute to the signs of aging. It balances oil production, providing enough moisture to keep the skin clear, healthy, and free from acne & eczema. The oil even boosts blood circulation, which rejuvenates firmer, plumper, and glowing skin.
However, governments in several countries have banned shark killing, due to which the industry faces difficulty in the availability of raw materials, which may be a hindrance to the market growth.
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Key companies profiled in the report are:
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.
Further key findings from the report suggest:
The market is segmented on the basis of source into animal-based, plant-based, and synthetic biotechnology.
The plant-based segment of the market accounted for the largest market share of ~56% in the year 2020. It is generally derived from olive oil, amaranth oil, wheat germ, and rice bran oil. The easy availability in various regions including North America, Europe, and the Asia Pacific, will fuel the growth of the market in the segment.
The market is segmented on the basis of the formulation into tablets/capsules, liquid, powder, and softgels.
The softgels segment accounted for the largest market share of 30% in the year 2020, due to its demand from the food supplements sector. These supplements are highly consumed since the elements in the capsules enhance the immune system response of an individual.
The market is segmented on the basis of applications into cosmetics, food supplements, and healthcare & pharmaceuticals.
Food supplements segment is forecasted to witness over 12.0% CAGR during the forecast year. Increasing disposable incomes, coupled with awareness regarding healthy lifestyle will boost the demand for food supplement application.
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The materials and chemical sector is rapidly gaining traction in the last few years and is expected to register significant revenue growth over the forecast period primarily due to increasing demand for raw materials and chemicals across various industrial sectors such as media and healthcare, biotechnology and pharmaceutical, food and beverages, paper and pulp among others. In addition, rising demand for organic products owing to increasing awareness about excess carbon emission, increasing investments in R&D activities, and rising per capita income are expected to fuel market growth going ahead.
The report further sheds light on the competitive landscape and provides in depth information about each market player including its financial standing global position, product portfolio, revenue growth, business expansion plans and company overview. Key market players are focusing on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market. Some of the leading players in the global Squalene market are listed below.
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Global Squalene Market Segmentation:
Healthcare & Pharmaceuticals
North America (U.S., Canada, Mexico)
Europe (Germany, Italy, U.K., Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Rest of Asia Pacific
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, South Africa, U.A.E, Rest of Middle East & Africa)
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