The squalene market size is projected to reach USD 213 million by 2027 from USD 129 million in 2020, at a CAGR of 7.4 %. Squalene is a natural skin ingredient as it is naturally present in the skin in minute concentrations. It has many beneficial properties such as anti-oxidation, anti-aging, UV protection, and others, thus finding end users in the cosmetic, pharmaceutical, and food industries. Squalene is not easily influenced by peroxidation, and appears to function as a quencher of singlet oxygen in the skin and, therefore, protects human skin surface from the exposure of ultraviolet light and other sources of oxidative damage. It acts as a detoxifier for highly lipophilic xenobiotics, assisting with their elimination from the body. Therefore, it does not have side effects in comparison to other drugs, which is why it is used in pharmaceutical formulations to reduce the dosage of drugs and the side effects.
Squalene is used along with common cancer drugs for the treatment of leukemia and other cancers; for preventing radiation illness from cancer X-ray therapy; and for treating common cold, flu, and swine flu. It also aids in the body’s immune system and is used for increasing white cells count during treatment with anti-cancer drugs. The demand for squalene is increasing in the food, cosmetic, and pharmaceutical industries due to its low ill effects on human skin and internal organs.
Squalene is majorly derived from shark liver oil, leading to overfishing of sharks. The consumer skepticism regarding the usage of animal-sourced products has led the end-use manufacturers to avoid using squalene sourced from shark liver in their products. Most laws allow shark liver oil to be extracted as a by-product of shark fishing. With the reduction in shark fishing activities due to certain rules and regulations and overfishing of sharks, the supply of shark livers has decreased, which is affecting the supply of squalene.
Several regulatory agencies such as General Fisheries Commission of the Mediterranean (GFCM), North East Atlantic Fisheries Commission (NEAFC), Commission for Conservation of Antarctic Marine Living Resources (CCAMLR), and North Atlantic Fisheries Organization (NAFO) have imposed limitations such as fixed quotas for shark fishing, which, in turn, has resulted in supply shortage of shark liver and, thereby squalene.
With skepticism about the shark liver oil sourced from sharks and low concentration of squalene in vegetable oils, the supply is fluctuating, and the prices are volatile. As several regulations are introduced for shark fishing, the supply of squalene has been majorly affected. In the vegetable oils, squalene content is very low, and therefore, tons of olives and amaranth are required to produce a small quantity of squalene. Collectively, these reasons have led to high squalene retail prices. This sparks an opportunity for the players to come up with new technologies to develop squalene and squalane from alternative sources
The key market players profiled in the report include as Sophim (France), Amyris (US), Arista Industries Inc. (US), SeaDragon Marine Oils Limited (New Zealand), Nucelis LLC (US), Ekiz Olive Oil & Soap Inc. (Turkey), Kishimoto Special Liver Oil Co. Ltd. (Japan), EmpresaFigueirense De Pesca, Lda (Portugal), ArbeeBiomarineExtractsPvt. Ltd. (India), and New Zealand GreenHealth Limited (New Zealand).
Europe is expected to account for the largest market share in squalene during the forecast period, in terms of value. This is owing to the increasing demand for squalene from pharmaceuticals and nutraceutical segments in the country. Moreover, the high spending power of consumers in the region, as well as the growing demand for natural cosmetics with good quality products, has been driving the growth of squalene in Europe.
Asia Pacific is expected to witness the fastest volume growth at a healthy CAGR owing to rising cosmetics sector in India, China, South Korea, Indonesia, and Malaysia. Increasing demand for dietary supplements in these countries in light of rising disposable income, changing lifestyles, and growing health awareness will augment industry size.
Report : Squalene Market - By Source (Synthetic Biotechnology, Vegetable, Shark Liver), By End User (Cosmetics, Skin Care, Hair Care, Fragrance, Food Supplements, Health Care, Cancer Treatment, Skin Health, Heart Disease) and By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, opportunity and Forecast 2020 To 2027