The growth of the Squalene Market is propelled by increasing consumer preference for natural and organic skincare products, driven by rising awareness of the benefits of squalene in personal care applications. Additionally, regulatory restrictions on shark-derived squalene have shifted demand towards plant-based alternatives, further fueling market growth.
According to the SNS Insider report, the Squalene Market size reached USD 150.26 million in 2023 and is anticipated to achieve USD 341.24 million by 2031, with a projected CAGR of 10.8% from 2024 to 2031.
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Some of the Key Players Included are:
Market Report Scope
The demand for squalene, a naturally occurring compound, is witnessing significant growth propelled by the escalating preference for natural ingredients in personal care and cosmetics. Squalene’s translucency, mild odor, and moisturizing attributes render it a favored emollient in various applications within the cosmetics industry. Its efficacy in combating free radicals, thereby aiding in skin protection and anti-aging, further enhances its appeal. Moreover, the market benefits from the expanding consumer base for natural and organic products, driving innovation in squalene sourcing and production techniques. The rising interest in nutritional supplements and the prevalence of health concerns like cancer and cardiovascular disorders also contribute to market expansion.
However, challenges persist due to regulatory restrictions on shark-derived squalene and price fluctuations resulting from raw material supply volatility. Despite these challenges, the market is poised for growth, with companies exploring alternative sources such as sugarcane and vegetable oils to meet demand. Europe currently leads in squalene production sourced from vegetable oils, albeit facing supply irregularities. These market dynamics underscore the need for sustainable sourcing practices and innovative solutions to ensure market stability and growth.
Market Analysis
Driven by escalating demand for natural ingredients, coupled with rising consumer awareness regarding skincare, the Squalene Market experiences robust growth. Factors such as the expansion of the cosmetics sector, the prevalence of health concerns, and the shift towards organic products contribute to market expansion. Additionally, regulatory initiatives favoring plant-based alternatives to shark-derived squalene further stimulate market growth.
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Segment analysis
By Source, the plant segment dominated the Squalene Market due to increasing environmental concerns and regulatory restrictions on shark-derived squalene. Plant-based alternatives sourced from olives, amaranth, and other botanicals are preferred by consumers and manufacturers alike, driving the segment’s growth. By End-Use, the personal care and cosmetics segment leads the market, fueled by the rising demand for natural and organic skincare products. Squalene’s moisturizing and antioxidant properties make it a preferred ingredient in a wide range of cosmetic formulations, including lotions, creams, serums, and masks, driving growth in this segment.
By Source
Plant
By End-use
Impact of Russia-Ukraine War:
The Russia-Ukraine conflict has affected the Squalene Market as well. The geopolitical tensions disrupt supply chains, leading to uncertainties in raw material procurement and price fluctuations. Given Ukraine’s significant agricultural output, disruptions in the region affect the availability and pricing of raw materials for squalene production. Moreover, geopolitical instability creates economic uncertainties, impacting consumer spending patterns and market dynamics.
Impact of Economic Slowdown
Economic slowdowns pose challenges to the Squalene Market, affecting consumer purchasing power and market demand. Reduced consumer spending on non-essential products, including cosmetics and personal care items, dampens market growth. Additionally, supply chain disruptions and fluctuating raw material prices further exacerbate the challenges faced by industry players.
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Key Regional Development
Europe emerged as a key player in the Squalene Market, holding the largest revenue share in 2023. The region’s dominance can be attributed to several factors, including stringent regulations favoring plant-based alternatives, technological advancements in squalene production, and a robust cosmetics industry. Moreover, Europe’s focus on sustainability and ethical sourcing aligns with consumer preferences, driving market growth. The region’s leadership in vegetable oil-based squalene production underscores its commitment to environmental conservation and innovation in the cosmetics sector.
Key Takeaways for Squalene Market
Recent Developments
Table of Contents – Major Key Points
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