Animal-Sourced Squalene Market Size, Share, Opportunities, And Trends By Source Type (Shark Liver Oil, Olive Oil, Amaranth Seed, Other Plant Sources), By End-User Industry (Cosmetics And Personal Care, Pharmaceuticals, Food And Dietary Supplements), And By Geography - Forecasts From 2024 To 2029

The animal-sourced squalene market is expected to witness significant growth during the forecast period. 

Squalene is a type of moisturizing ingredient that is commonly used in several skincare products, which include anti-aging creams, sunscreen, and lip gloss. It is naturally an oily substance that is found in people, animals, and plants and is also used in the creation of some COVID-19 vaccines. It is naturally extracted from deep water shark’s liver oil, which is known to contain a high amount of squalene. It is also formed naturally in eggs and vegetable oils. Squalene provides a variety of benefits, which include moisturizing the skin, enhancing skin elasticity, and enhancing skin repair and hydration. Squalene is known to have several applications throughout different industries, which include cosmetics, health foods, high-grade machine oil, OTC drugs, and dietary supplements.

Introduction:

The animal-sourced squalene market growth is attributed to factors such as an increase in the disposable per capita income of the world. The increase in disposable income brings forth changes in consumer consumption patterns, such as a preference towards more organic or naturally sourced products in skincare, food, and beverages. The change towards naturally sourced products includes animal-sourced squalene, which is known for its applications in the skincare and cosmetics industry due to its repair and maintenance properties on the skin and hair of human beings.

Market Drivers:

• Rising Disposable income: the cosmetics industry is driven by the increase in per capita income of a region. As the disposable income of individuals increases, the spending and consumption patterns also will be expected to change, showing an increase in preference for higher quality and naturally sourced products. The use of squalene is common in the cosmetics industry due to the benefits it provides to the skin, which include acting as an emollient and antioxidant. It is also known for its hydration properties and antitumor activities. As disposable income increases, the consumer preference towards more natural products, such as squalene-based skin products, will also be expected to show an increase during the forecasted period. As per the U.S. Energy Information Administration, we can see the basic world disposable income per capita of each region. It shows an increase in the total disposable per capita income and is also expected to show significant growth as per their forecasts. The world’s disposable income as of 2022 is US$10,136 per person and is expected to reach an estimated value of US$17,277 by 2050, which is an increase of 1.9%. This increase will assist in the boost of the demand for squalene-related products, due to a shift in consumer spending as disposable income increases.

Key Players:

• EFPBIOTEK: A European company that is known for the manufacture and production of squalene and squalane products. They are known for their manufacturing of ingredients and are also EU Food Grade Certified with a wide global distribution network.
• Otto Chemie Pvt. Ltd.: An Indian company that is known for the supply and production of chemicals, speciality, research, crystal optics, nanotechnology, fine chemicals, and solvents products in several industries such as agriculture, food processing, pharmaceuticals, oil and gas, educational, R&D, cement industries.

Regional Analysis:

The North American region is expected to witness significant growth in the animal-sourced squalene market during the forecasted period of 2024-2029, due to factors such as the increase in disposable income, which helps in the increase in the growth of the cosmetics industry. The increase in disposable income factors into the growth of the cosmetics industry, where animal-sourced squalene is commonly used to produce skincare products. Squalene is known for providing several benefits when applied to the skin, which include hydration, antioxidants to fight skin damage and radicals, and boosting collagen production. The increase in disposable income will change consumer preferences towards naturally sourced products instead of synthetic products since synthetic products are comparatively lower in cost compared to organic/ natural products. From the report and forecast published by the U.S. Energy Information Administration, the increase in disposable income shows significant growth during the forecasted period. As of the North American region, the disposable per capita income displays an estimated US$21,783 per person and is estimated to reach an estimated value of US$29,357 in 2050, an increase of 1.1%. The Asia Pacific Region also displays significant growth rates in the forecast of disposable income, which accounts for an increase of 3.3% during the period of 2022-2050, reaching an estimated value of US$20,512 by 2050. This increase in disposable income will be expected to boost the growth of the cosmetics industry, which will, in turn, provide the necessary fuel for the g animal-sourced squalene market growth during the forecasted period of 2024-2029.

Market Developments:

• May 2023:  Amyris Inc. announced the partnership/licence agreement with Croda International Plc for the supply of sustainable squalene. Amyris is a leading synthetic biotechnology company that is known for accelerating the world’s transformation into sustainable consumption through its Lab to Market technology platform and provides several clean beauty consumer brands. Whereas Croda is a sustainable, high-performance ingredients and technology provider and is known for their products which include speciality chemicals that are relied on by consumers and industries worldwide. Under the agreement, Amyris manufactures and supplies squalene to Croda, who will license squalene technology from Amyris to the market, distribute and sell squalene as an excipient, or as an ingredient in their formulated products that can be used by humans and veterinary vaccines, drug delivery systems, and nucleic acid delivery systems. This agreement collaboration will boost the animal-sourced squalene market growth since the Amyris sources their squalene from shark liver and plant sources.

Segmentation:

• By Source Type:
  • Shark Liver Oil
  • Olive Oil
  • Amaranth Seed
  • Other Plant Sources
• By End-User Industry:
  • Cosmetics and Personal Care
  • Pharmaceuticals
  • Food and Dietary Supplements
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others