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″, published by MarketsandMarkets™, The squalene market is projected to reach USD 204 million by 2024, at a CAGR of 7.8% from USD 140 million in 2019.
Browse and in-depth TOC on “Squalene Market”
116 – Tables
37 – Figures
116 – Pages
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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.
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.
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The company gives major emphasis on its farnesene molecule for the development of renewable squalane.
- In February 2018, the company launched sugar cane derived squalane mainly for pharmaceutical application. This product is FDA regulated and launched by a joint venture of Amyris and NIKKOL.
- Recently, in February 2018, Amyris has announced the availability of its consumer beauty brand Biossance at the various locations across Canada. This product expansion helped the company to capture market share in Canada.
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 through extensive R&D. This makes Sophim one of the leading players in the squalene market.
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