newly published Fact study examining the squalene oil market. According to MR, the global market for squalene oil has 209 million dollars in sales in 2023. The market is anticipated to increase by 9.3% between 2023 and 2033, reaching a valuation of US$ 510.7 Million by the end of the forecast period.
With a CAGR of approximately 11.5% from 2023 to 2033, synthetic squalene is anticipated to be the market category that generates the largest amount of revenue. The market for squalene oil is anticipated to generate the biggest amount of revenue among all end uses between 2023 and 2033, with a CAGR of around 8.7%.
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“Increasing demand for cosmetics and personal care products will spearhead the sales of squalene over the coming years,” says a Fact.MR analyst
The squalene market is consolidated and a few major players such as Amyris and Sophim account for major revenue shares, along with other players in the industry. Squalene vendors are expected to deploy various innovative strategies to meet the high demand from several industry verticals.
Key Factors Driving the Squalene Oil Market:
- Cosmetics and Skincare Industry: Squalene oil is used in various skincare and cosmetic products due to its moisturizing, anti-aging, and skin-soothing properties. It is believed to promote skin hydration and elasticity.
- Health and Wellness Trends: Increasing consumer awareness about health and wellness has led to a growing interest in natural and functional ingredients like squalene oil for dietary supplements and health products.
- Antioxidant Properties: Squalene oil is known for its antioxidant activity, which can help protect cells from oxidative stress and potentially support overall health.
- Demand for Natural Ingredients: Consumers are seeking natural and plant-derived ingredients in their skincare, dietary supplements, and health products, which drives the demand for squalene oil.
- Growing Nutraceutical Industry: Squalene oil is used in the production of dietary supplements and nutraceuticals, contributing to the growth of this industry.
Key Takeaways from Market Study
- As of 2022, the squalene market stands at a valuation of US$ 21.12 billion.
- From 2022 to 2032, the squalene market is slated to expand at a stellar CAGR of 12.2%.
- Increasing investments in research and development to find new methods for squalene production, rising demand for personal care products, growing use of squalene in cosmetics, and rising use in the pharmaceutical industry are all expected to drive market growth through 2032.
- The North America squalene market is expected to reach US$ 26.01 billion by 2032.
- Bans on shark fishing across regions and high costs of production of squalene from plant-based products are anticipated to restrict squalene consumption to some extent.
- Demand for animal-sourced squalene is expected to increase at a CAGR of 12.8% over the forecast period.
- Consumption of squalene in the cosmetics industry is projected to account for a market share of 40.9% by 2032.
Competitive Landscape
Key squalene manufacturers are majorly focusing on research and development of new methods to create squalene from plant-based sources as shark squalene is declining in availability. Squalene companies are deploying innovative strategies to expand their business potential and strengthen their market stance on a global level.
In October 2020, Amyris, a leading squalene supplier in the world, announced its plans to supply non-shark squalene samples to pharmaceutical companies so that they could use them to manufacture alternative squalene for adjuvants used in the formulation of vaccines.
Key Segments Covered in Squalene Industry Research
- Squalene Market by Type :
- Animal Source Squalene
- Vegetable Source Squalene
- Squalene Market by End-use Industries :
- Cosmetics
- Pharmaceuticals
- Supplements
- Other End-use Industries
- Squalene Market by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global squalene market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of type (animal-sourced, vegetable-sourced) and end-use industry (cosmetics, pharmaceuticals, supplements, other end-use industries), across five major regions of the world (North America, Latin America, Europe, APAC, and MEA).
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