Latest News - Squalene Market: Cosmetic and personal care products are expected to lead the End-user segment during 2024-2028

The Squalene Market is being driven by Increasing acceptance of UVA/B filters in sunscreens and sun protection cosmetics

The Squalene Market is expected to grow at a CAGR of 6.79% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 62.9 million. In the realm of sustainable and renewable sources, squalene has emerged as a significant player in various industries, particularly in the cosmetics sector. Sourced from vegetable derivatives such as amaranth oil, wheat germ oil, rice bran oil, and notably olive oil, squalene's availability has expanded due to its presence in abundant quantities in olives. Greece, Portugal, Italy, France, Spain, the US, Australia, Turkey, and Austria are among the leading countries in olive production, making olive-derived squalene a popular choice. Additionally, sugarcane-derived squalene boasts higher quality and purity, further expanding the market's potential. Squalene, derived from these renewable sources, is extensively utilized for skin treatment applications. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Cosmetic and personal care products
  • Food supplements
  • Pharmaceutical
• Type
  • Vegetable
  • Animal
  • Biosynthetic
• Geography
  • Europe
    • France
    • Germany
  • APAC
    • China
    • Japan
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing acceptance of UVA/B filters in sunscreens and sun protection cosmetics
• Rising prevalence of chronic diseases
• Increasing demand for anti-aging products

However, the market also witnesses some limitations, which are as follows:

• Stringent safety regulations on UV sun care products
• Stringent clinical and regulatory policies
• Depleting in population of sharks

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Market Scope in Squalene Market Research Report

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Research Analysis Overview

Squalene is a naturally occurring hydrocarbon that has gained significant attention in the nutraceutical and cosmetics industries due to its potential benefits in anti-aging and skin care. Traditionally sourced from shark liver oil, there is growing interest in plant-based alternatives, such as rice bran oil and Amaranth oil, which contain high levels of this valuable compound. Terpene oils, derived from tobacco crops, are also being explored as potential sources of squalene. Nutraceutical firms are investing in the production of vegetable-sourced squalene to meet the increasing demand for sustainable and ethical alternatives. The MMPA (Marine Mammal Protection Act) has led to a decline in shark populations, making animal-sourced squalene increasingly scarce and expensive. Squalene is a potent antioxidant that helps protect the skin from free radicals and the aging process. It is commonly used in emollients, cosmetics, and personal care products, such as masks, oils, serums, and creams. The cosmetics sector is expected to be the largest consumer of squalene due to its excellent emollient properties and ability to improve skin hydration and elasticity. However, concerns over toxicity and sustainability have led to the exploration of plant-based sources, ensuring a more ethical and eco-friendly future for this valuable ingredient.

Market Research Overview

The global specialty chemicals industry encompasses businesses specializing in high-value-added chemicals utilized in the production of a diverse range of products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers focusing on high-value-added chemicals. Key growth drivers for the specialty chemicals market include the increasing demand for specialty adhesives and sealants, which are anticipated to fuel market expansion throughout the forecast period. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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