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 2025″, The squalene market is projected to reach USD 184 million by 2025, at a CAGR of 7.3% from USD 129 million in 2020.
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The growth of the squalene market is primarily triggered by the growth in cosmetics and pharmaceuticals industry. Rising R&D in the oncology segment along with increasing spending on oncology medicines is expected to drive the market for squalene in the coming years. The global pharmaceuticals sales were USD 1,000 billion in 2019, it is expected to further grow with 6-7% during the forecast period.
Growth in the cosmetics industry is also a driver for the squalene market. The growing cosmetics industry in emerging markets such as Brazil, China, and India; increasing consumer awareness of the usage of high-quality cosmetic products; and willingness to pay premium prices are driving the cosmetics industry at the global level. Collectively, all these reasons will support the demand for squalene in the coming years.
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234 – Tables
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178 – Pages
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The squalene market size is projected to reach USD 184 million by 2025 from USD 129 million in 2020, at a CAGR of 7.3%. 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.
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