Squalene Market by Raw Material (Animal, Biosynthetic, Vegetable), Application (Cosmetics, Food, Pharmaceuticals) - Global Forecast 2024-2030

Squalene Market by Raw Material (Animal, Biosynthetic, Vegetable), Application (Cosmetics, Food, Pharmaceuticals) - Global Forecast 2024-2030

The Squalene Market size was estimated at USD 150.19 million in 2023 and expected to reach USD 161.06 million in 2024, at a CAGR 7.50% to reach USD 249.33 million by 2030.

Squalene is a natural organic compound that primarily originates from shark liver oil and plant sources such as olive, rice, and bran oil and is also synthesized through the fermentation of yeast. It is a precursor to various sterols, including cholesterol, which plays a vital role in various biological functions within the human body. Increasing demand for natural and eco-friendly cosmetic products and growing awareness about skincare benefits associated with squalene are driving market growth. Rising advancements in biotechnology help to synthesize methods such as yeast fermentation, elevating the demand for squalene. Furthermore, growing applications in pharmaceuticals as an adjuvant for vaccine formulations contribute significantly to market expansion. Stringent regulations on shark fishing for liver oil extraction and fluctuating raw material prices are hampering market growth. The growing development of cost-effective and eco-friendly technologies to produce high-purity squalene from alternative sources is expected to create opportunities for market growth.

Regional Insights

In the Americas, growing consumer awareness towards natural and sustainable products is driving demand for squalene in various industries such as cosmetics, pharmaceuticals, and food supplements. Continuous expansion of cosmetics and pharmaceuticals industries with rising usage of squalene within the European Union (EU) countries is expected to create opportunities for market growth. Additionally, the growing availability of stringent regulations on shark-derived squalene is influencing European market vendors to develop alternative sources. Booming cosmetic industries in China, Japan, and India driven by consumer trends favoring natural ingredients are creating a platform for the squalene market in Asia-Pacific. Further, the government recently increased funding for research programs related to bio-based materials, including squalene, thereby benefiting market growth.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Squalene Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing usage of squalene as a cleansing and moisturizing compound in personal care products
• Emerging potential with rising spending on oncology medicines
• Proliferating demand for natural and organic ingredients

Market Restraints

• Fluctuation in raw material prices required for squalene

Market Opportunities

• Advancements in extraction methods, coupled with the development of vegetable and synthetic sources
• Growing research and development associated with the therapeutic use of squalene

Market Challenges

• Strict regulations and health controversies related to the use of squalene

Market Segmentation Analysis

• Raw Material: Growing adoption of biosynthetic squalene with rising environmental concerns
• Application: Growing application of squalene in cosmetic & personal care products owing to its moisturizing and emollient properties

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Squalene Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Squalene Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Croda International plc Partners on Vaccine Adjuvants

Croda International plc, a reputable UK-based specialty chemicals company, has recently formed partnerships with US companies Amyris and BSI to secure sustainable vaccine adjuvants. Under an exclusive license agreement with Amyris, Croda International plc would be able to source biotechnology-derived, pharmaceutical-grade squalene. Unlike traditional sources derived from shark liver, this squalene will be derived from sugarcane. Croda International plc would leverage its expertise in pharmaceutical good manufacturing practices (GMP) to market, distribute, and sell squalene as an excipient or in formulated products for human or veterinary vaccines, drug delivery systems, or nucleic acid delivery systems. This collaboration not only ensures the availability of high-quality squalene but also emphasizes the commitment to sustainability in the pharmaceutical industry.

Evonik Launches Plant-based Squalene to Boost Vaccine Efficacy

Evonik AG introduced PhytoSquene, a non-animal-derived squalene specifically designed for vaccines and other pharmaceutical applications. This product is the first of its kind, derived from amaranth oil, and is now available on the market for use in adjuvants in parenteral dosage forms. This launch marks a significant milestone in the industry, offering a sustainable and ethical alternative to animal-derived squalene, which is traditionally sourced from shark liver oil. With the introduction of PhytoSquene, Evonik AG is taking a proactive approach towards achieving this goal. By utilizing this innovative solution, the industry can continue to meet its needs while minimizing its impact on the environment.

Amyris Starts Squalene Production at Plant in Brazil

Amyris commenced industrial-scale production of 13 molecules, including squalene, at its plant in Brazil. Traditionally sourced from shark livers, squalene is used as an ingredient in skincare products and vaccine adjuvants. However, Amyris has developed a process to produce sugarcane-derived squalene as a sustainable alternative. The Barra Bonita facility boasts five self-contained lines for diverse molecule production, facilitating faster turnaround times and reducing the carbon footprint. This advancement enables quicker time to market and streamline the transition from pilot to manufacturing scale.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Squalene Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Squalene Market, highlighting leading vendors and their innovative profiles. These include Amyris, Inc., Arbee Biomarine Extracts Private Limited, Arista Industries Inc., Blueline Foods India Pvt Ltd, Carbomer, Inc., Croda International Plc, Evonik Industries AG, Gracefruit Ltd., Kishimoto Special Liver Oil Co. Ltd., Maruha Nichiro Corporation, Maypro, New Zealand Green Health Ltd., Nucelis LLC, Oleicfat S.L., Otto Chemie Pvt. Ltd., SeaDragon Marine Oils Ltd., SOPHIM, and Vestan SA.

Market Segmentation & Coverage

This research report categorizes the Squalene Market to forecast the revenues and analyze trends in each of the following sub-markets:

Raw Material

Animal

Biosynthetic

Vegetable

Application

• Cosmetics
• Food
• Pharmaceuticals

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year