As per the recently published report by MarketsandMarkets™, The “Squalene Market by Source (Animal Source (Shark Liver Oil), Vegetable Source (Olive Oil, Palm Oil, Amaranth Oil), Biosynthetic (GM Yeast]), End-use Industry (Cosmetics, Food, and Pharmaceuticals), and Region – Global Forecast to 2028″, size was USD 141 million in 2022 and is projected to reach USD 202 million by 2028, at a CAGR of 6.3%, between 2023 and 2028. The squalene market is mainly driven by the growth in R&D activities in pharmaceutical industry. Pharmaceutical companies often engage in R&D to develop new drugs and therapies. Squalene has been studied for its potential health benefits, including its role as an adjuvant in vaccines. If pharmaceutical R&D leads to the development of new medicines or vaccines that incorporate squalene as an ingredient, the demand for squalene could rise.
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- 300 Market data Tables
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- 236 Pages and in-depth TOC on “Squalene Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The major Players in cosmetic preservatives Market include Amyris, Inc (US), SOPHIM (France), Merck KGaA (Germany), Kishimoto Special Liver Oil Co., Ltd. (Japan), Empresa Figueirense De Pesca (Portugal), Arbee (India), Cibus (US), Otto Chemie Pvt. Ltd. (India), Arista Industries (US), and Oleicfat s.l. (Spain). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share, products with wider applications, broader geographical use cases, and a larger product footprint.
Recent Developments in Squalene Market Industry
- In August 2021, Amyris, Inc. launched Rose Inc., a clean color cosmetics brand. The products’ non-comedogenic formulas are developed with proprietary bioengineered and sustainably-sourced ingredients, including squalene and hemisqualane.
- In April 2020, Amyris, Inc. launched the squalene-based hand sanitizer named Pipette under its No Compromise Pipette baby care branded products. The hand sanitizer contains 65% USP plant-based ethyl alcohol, glycerin, and Amyris, Inc.’s sugarcane-derived squalene (for moisturizing benefit).
- In May 2023, Amyris, Inc. signed an exclusive license agreement with British specialty chemicals company Croda International Plc, (“Croda”) for the supply of sustainable squalene.
- In July 2023, SOPHIM launched a moisturizing and soothing massage oil. It helps in restoring the skin’s lipidic film, creating a protective barrier that preserves your epidermis from external aggression.
- In June 2023, SOPHIM launched a moisturizing foot mask. The ingredients in this formulation restores the lipid barrier for long-lasting protection against external aggressors and dryness.
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Based on source, the squalene market is segmented as animal, vegetable, and biosynthetic. Vegetable sources accounted for the largest market share, in terms of both value and volume, in 2022. The demand for vegetable-source squalene has been on the rise in recent years due to several factors, including consumer preferences for sustainable and plant-based ingredients, restrictions on the use of animal derived squalene and others.
Based on the end-use industry, the squalene market is segmented as pharmaceuticals, cosmetics, food, and others. Pharmaceuticals is expected to be the fastest growing end-use industry, in terms of value, during the forecast period. The demand for squalene in pharmaceutical applications, particularly as an adjuvant in vaccines and potentially in other therapeutic formulations, has been a notable trend in recent years. It’s crucial to remember that factors including regulatory approvals, the success of clinical studies, the advent of new diseases, and global health objectives may have an impact on the demand for squalene in pharmaceutical applications. As the pharmaceutical industry continues to innovate and address healthcare challenges, squalene may play a vital role in improving vaccine effectiveness and developing new therapeutic approaches.
Based on region, Europe dominated the squalene market, both in terms of value and volume, in 2022. A significant demand for squalene in Europe can be attributed to several variables, including pharmaceutical applications, cosmetic and skincare trends, and environmental sustainability issues. European consumers are often well-informed and health conscious. They may seek products that include squalene for its potential health and skincare benefits, further driving demand.
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