December 04, 2020
According to the research report titled ‘Global Squalene Market Size study, by Type (Animal Source (Shark Liver Oil), Vegetable Source (Olive Oil, Palm Oil, Amaranth Oil), Biosynthetic (GM Yeast]), End-use Industry (Cosmetics, Food, and Pharmaceuticals) and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, global squalene market was valued at USD 121 million in 2019 and is expected to experience a CAGR of 7.2% through 2027.
Global squalene market is witnessing significant growth owing to rising awareness regarding the health benefits of the product, leading to its widespread usage in cosmetics and pharmaceutical industries. Further, rising incidences of cancer and cardiovascular diseases is fueling the product demand in pharmaceutical applications, as it aids in reduction of carcinogen and cholesterol levels, thereby contributing to industry growth.
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However, restrictions on shark fishing as well as skepticism of the consumer regarding animal sourced products are expected to hamper the industry growth during 2020-2027. Although, discovery of new renewable sources for production of squalene is creating opportunities for the global squalene market growth.
Based on type, global squalene market is segmented into biosynthetic, animal source, and vegetable source. With regards to product terrain, the industry is bifurcated into pharmaceuticals, cosmetics, and food.
From a regional frame of reference, global squalene market is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. Europe market is expected to witness significant returns in coming years mainly due to rising application of squalene in pharmaceuticals and nutraceutical sectors, as well as growing demand for natural, good quality cosmetics products.
Meanwhile, Asia Pacific industry is predicted to register highest growth rate over 2020-2027, owing to rising disposable income, along with increasing population in the region.
Major players operating in global squalene market include Sophim, Ekiz Olive Oil & Soap Inc., New Zealand GreenHealth Limited., Amyris Inc., Arista Industries Inc., Kishimoto Special Liver Oil Co. Ltd., Nucelis Inc., SeaDragon Marine Oils Ltd., Empresa Figueirense De Pesca, Lda, and Arbee Biomarine Extracts Pvt. Ltd.