The global squalene market is poised to gain massive momentum in the upcoming years, given its nutritional and health benefits including white blood cell rejuvenation, anti-carcinogen, immune system stimulation, and antioxidant properties. For the record, squalene is a chemical compound which is generally extracted from shark liver oil and other vegetable sources such as rice bran oil, olive oil, and wheat germ oil. Escalating use of these products as a cleansing and moisturizing compound in personal care and cosmetic products is anticipated to further propel the market dynamics over 2015 to 2022, allowing it to record a whopping remuneration of USD 241.9 million by the end of 2022.
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Squalene play role in cosmetic and personal care products
Squalene’s ability to be quickly absorbed into the skin without leaving an oily residue, would enable its increased adoption in personal care and cosmetics products industry. In this regard, it is safe to declare that the expanding cosmetics industry will offer hefty returns of the overall industry in the years to come.
Squalene acts as a lubricating skin nourishing agent which provides the skin, a smooth and soft appearance. As per the 2020 U.S Food and Drug administration Voluntary Cosmetic Registration Program, squalene was used in nearly 539 formulations. In fact, the results of concentration of use surveys carried out by the Personal Care Products Council in 2018 illustrated that the maximum concentration of use for squalene was somewhere around 1.2%.
In addition to the aforementioned, antimicrobial properties offered by the product is also estimated to drive its demand amongst various players in the cosmetics and personal care industry.
How are the efforts undertaken by industry participants favoring the market progression?
Global cosmetic and personal care companies have been brainstorming in introducing novel innovations and products in global squalene market. For instance, Praan Naturals’ recent launch of olive squalene into its ethically sourced product line of nearly 500 certified organic and conventional natural ingredients for cosmetics and personal care products, has offered a boost to the company’s overall growth. This novel move also strengthens the company’s geographical presence in the overall market.
Such initiatives, in conjugation with anticipated acquisitions, partnerships, product differentiations, and expansions, are likely to uplift the market valuation over the foreseeable time frame.
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What are the factors influencing the growth of squalene industry across North America, APAC, and Europe regions?
Considering the diverse breakup of squalene industry, given below is a brief snapshot of how the global market is projected to perform across the regions in the near future:
- Europe
Europe squalene is projected to observe appreciable gains in the upcoming years, on the grounds of thriving pharmaceutical industry and the product’s expansive use in supplements. It has been predicted that the product reduces levels of cholesterol and carcinogen in human bodies, thus abating the risks of cancer and cardiovascular diseases across the region.
- Asia Pacific
Asia Pacific squalene market held a business share of USD 11.5 million in 2014 and is touted to grow at a CAGR of 9.5 per cent through 2022, subject to the increase in per capita income and middle class spending capacity on cosmetic products.
- North America
With an estimation to prosper at a growth rate of 8.5 per cent over 2015 to 2022, North America squalene market from dietary supplement is set to record phenomenal proceeds in the years to come, courtesy- increasing focus of the people towards consumption of nutritious food and leading a healthy lifestyle.
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