According to a report, “Squalene Market Analysis By Raw Material (Vegetable, Synthetic, Animal), By Application (Food, Pharmaceuticals, Cosmetics) And Segment Forecasts to 2024”, published by Grand View Research, Inc., The global squalene market is expected to reach USD 271.5 million by 2024, Increasing demand for squalene in food supplements and skin creams will propel market growth over the forecast period. Growing demand for male grooming products including skin care and anti-aging creams will promote industry expansion.
Key Takeaways from the report:
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The global squalene market demand was 2,973.0 tons in 2015 and is expected to witness growth at a CAGR of 9.2% from 2016 to 2024
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Synthetic squalene will see the highest revenue gains at a CAGR of 11.0% from 2016 to 2024 in light of rising usage in cosmetics owing to its superior moisturizing properties along with stable and consistent composition
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North America market was valued at USD 24.6 million in 2015 and will show a significant rise in light of its rising demand in dietary supplements. Increasing focus towards maintaining a healthy lifestyle is expected to augment the demand for dietary supplements, in turn, bolstering squalene industry growth. Growing demand for pharmaceuticals owing to the prevalence of key players including Pfizer, Johnson & Johnson, and Merck & Co. along with rising R&D expenditure in the U.S. and Mexico will propel market growth.
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Latin America will witness significant revenue gains at a CAGR of 10.5% from 2016 to 2024 in light of rising demand for beauty products in Brazil, Colombia, Uruguay, Ecuador, and Chile. Rising disposable incomes, changing beauty trends & standards, along with increasing investment in personal care products will drive industry expansion over the next eight years.
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Key industry participants include Amyris Biotechnologies, AASHA BIOCHEM, EmpresaFigueirense De Pesca, Lda, Maruha Nichiro Corporation, Arista Industries Inc, Sophim and Nucelis LLC. In April 2015, Amyris Biotechnologies entered into a partnership with Squalan Natural Health B.V. to manufacture NeossanceSqualane for personal care products.
U.S. squalene market volume, by applications, 2013 – 2024 (Tons)
Browse More Reports in Food Additives & Nutricosmetics Industry:
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- Natural Food Colors Market – Stringent regulations pertaining to the use of synthetic and identical colors is likely to emerge as the major driver for the natural food colors market growth.
Increasing demand for dietary supplements in the U.S., China, India, Russia, Italy, and Brazil will drive the demand for squalene in food applications resulting in volume gains at a 10.7% CAGR from 2016 to 2024. Furthermore, several health benefits ranging from oxygen generation and superior immune response to cholesterol regulation and UV protection will fuel product demand over the forecast period.
The aging population, increasing self-diagnosis among general consumers, and growing awareness regarding preventative health care will create immense market potential over the upcoming years. The growth of the nutraceutical industry in various countries including France, China, India, Japan, Italy and the UK will lead to squalene market development. Increasing demand for vegetable-based products for cancer therapies will fuel market growth over the forecast period.
Grand View Research has segmented the global squalene market on the basis of raw material, application and region:
Global Squalene Raw Material Outlook (Volume, Tons;Revenue, USD Million, 2013 – 2024)
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Animal
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Vegetable
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Synthetic
Global Squalene Application Outlook (Volume, Tons; Revenue, USD Million, 2013 – 2024)
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Food
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Pharmaceuticals
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Cosmetics
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Other
Global Squalene Regional Outlook (Volume, Tons; Revenue, USD Million, 2013 – 2024)
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North America
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U.S.
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Canada
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Europe
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Germany
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UK
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France
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Spain
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Italy
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Asia Pacific
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China
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Japan
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South Korea
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Latin America
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Brazil
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MEA
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About Grad View Research, Inc.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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