Squalene market to witness a robust growth from the cosmetics sector over 2015-2022, Europe to majorly drive the global landscape
Increasing preferences toward beauty & personal care have impacted the growth of the cosmetics sector, which will subsequently fuel Squalene Market size. This sector is predicted to witness rapid growth prospects across developed regions such as France, Germany, UK, and Italy, which will drive Europe market expansion. Germany led Europe personal care & cosmetics sector in 2014 by contributing a revenue of more than USD 14 billion, while Italy, France, and UK sectors were assessed at USD 10.6 billion, USD 12 billion, and USD 11.8 billion respectively during the same year. Escalating product demand for lotions, ointments, emollients, and creams, owing to its anti-oxidative and anti-inflammatory features are anticipated to create new growth avenues for squalene market. According to Global Market Insights, Inc., “Squalene industry size is slated to hit a revenue of USD 240 million by 2022.”
MEA squalene market size, by application, 2014
Apart from its wide applications across cosmetics sector, squalene is also popularly used in pharmaceuticals and dietary supplements. In terms of revenue, squalene market size from cosmetics was worth USD 65 million in 2014. Cosmetics applications, which contributed to nearly 66% of squalene market share in 2014, are expected to experience a noteworthy expansion over the years to come. The growth can be credited to escalated product use in nail items, bath oils, body powders, and moisturizers.
Squalene industry size in the dietary supplements sector is forecast to expand at the rate of 8.5% over the period of 2015-2022. The expansion can be attributed to the growing health consciousness among the consumers coupled with their requirement for cost-effective medical treatment.
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Taking into consideration the topographical trends, Asia Pacific squalene market is projected to record a CAGR of 9.5% over the period of 2015-2022, driven by the popularity of cosmetic items in countries such as India and China. North America squalene industry is expected to grow notably over the coming years. This is primarily due to the surging demand for food supplements in the U.S.
Europe squalene industry revenue is expected to hit USD 110 million by 2022, owing to the rising popularity of naturally derived ingredients used in the production of cosmetics & personal care items. Germany, UK, and France are expected to drive the regional share.
Synthetic, shark liver, and vegetables are few of the major sources from which squalene is derived. Vegetable sources witnessed the maximum demand in APAC, having contributed to a revenue of nearly USD 11.5 million in 2014. The development can be credited to rising restrictions on deep water hunting of sharks for squalene, subject to which squalene market from vegetable sources will accrue more than USD 130 million by 2022. Synthetic squalene industry is predicted to witness significant gains over the next few years.
Key market players have been trying to focus on manufacturing innovative products to fulfill the growing needs of the pharmaceutical and food & beverage sectors. The product is widely used in dietary supplements, which will augment the squalene demand in the F&B sector. Amyris, SeaDragron Limited, Sophim, Carbomer, Croda International Plc, Kishimoto Special Liver Oil Company Limited, Arbee Fish Oil, Nucelis Incorporation, Arista Industries Incorporation, Empresa Figueirense de Pesca Lda, Gracefruit Limited, Tianjin Winning Health Products Company Limited, and Aasha Biochem are the key participants of squalene industry.
Author Name :Dhananjay Punekar