According to the new market research report “Squalene Market by Source Type (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 2024″, is projected to reach USD 204 million by 2024, at a CAGR of 7.8% from USD 140 million in 2019.
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The squalene market size is projected to reach USD 204 million by 2024 from USD 140 million in 2019, at a CAGR of 7.8%. Squalene is a natural chemical that is present in human skin, plants, and animals. It has been sourced traditionally from shark liver oil, which is known to contain 40%–60% of squalene. It is also sourced from vegetable oils such as olive oil, rice bran oil, wheat germ oil, and amaranth oil. New techniques for deriving squalane from sugarcane and other sugar sources have also been developed. The growth in cosmetics and pharmaceuticals industry coupled with the rising awareness regarding health benefits of squalene, globally are driving the growth of the squalene market.
There are three source types for the squalene production that are commercially available; they are animal, vegetable, and biosynthetic. The animal source type accounted for the largest share, in terms of value, in 2018. Shark liver oil is the rich source of squalene followed by vegetable including olive oil, amaranth oil, palm oil, among others. Recently, squalene is also produced using sunflower and soybean oils. Vegetable sourced squalene is the second largest segment in terms of value and volume in 2018. Biosynthetic squalene is produced using genetically modified yeast and sugarcane. The skepticism over shark fishing and high cost associated with the extraction of squalene using the vegetable source, the demand for biosynthetic squalene is expected to increase during the forecast period. The availability of new renewable vegetable source such as soybean and sunflower the demand for vegetable-based squalene is expected to remain high between 2019 and 2024.
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The squalene market size is projected to reach USD 204 million by 2024 from USD 140 million in 2019, at a CAGR of 7.8%. Rising demand from cosmetics, food, and pharmaceuticals industry is expected to support the growth of the squalene market. However, skepticism over shark fishing is restraining the growth of the market. On the other hand, the availability of new renewable sources for the production of squalene has created opportunities for manufacturers.
Kishimoto Special Liver Oil Co. Ltd. (Japan), Sophim (France), Amyris (US), Arbee Biomarine Extracts Pvt. Ltd. (India) and Ekiz Olive Oil & Soap Inc. (Turkey) are the major players in this market.
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Amyris (US) is one of the leading producers of squalene. The company actively invests in R&D for creating innovative solutions for the production of squalane from more sustainable feedstock. For instance, it is the only company to produce squalane from sugarcane, which has turned into a major threat for its competitors. The company gives major emphasis on its farnesene molecule for the development of renewable squalane.
Kishimoto Special Liver Oil Co. Ltd. (Japan) is a leading player in this market. The company invests vigorously in R&D for new technologies and innovations in product development. The company aims to expand its presence in the APAC region by targeting the market where the demand for the squalene is high.
Sophim (US) is also a leading producer focuses on integrating factory with modern equipment, which allows optimal solutions of high value. For instance, the company awarded Prix Pierre Potier for Green Chemistry and Sustainable Development for using techniques such as esterification, distillation, and hydrogenation. The company invests heavily in R&D to develop innovative products. For example, the company offer oil-free 100% vegetable products such as insapolive and biophytosebum throughextensive R&D. This makes Sophim one of the leading players in the squalene market.
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