Squalene Market Overview:
The market for squalene is projected to grow from USD 145 million in 2022 and is expected to reach USD 226.87 million in 2028 & growing with a CAGR of 7.74% during 2022-2028.
What is the squalene market?
Squalene is a naturally obtained organic compound and is used as a biochemical precursor to the whole family of steroids. Squalene is also used as an adjuvant in vaccines. It is majorly obtained from shark liver oil for commercial purposes. However, plant sources (such as amaranth seed, rice bran, wheat germs, and olives) and biosynthetic sources (such as genetically engineered yeast cells) are also used nowadays to meet the growing demand for squalene.
Drivers
- The major factors that are driving the squalene market are the organic growth of the cosmetics and pharmaceutical industries.
- Increasing R&D in the oncology segment, and growing awareness regarding the benefits of squalene on human health.
Regional Analysis
Europe held more than 28.2% of the market share in 2021. whereas Asia-Pacific is expected to witness the highest growth during the same period. Growing demand for natural cosmetics, the high spending power of consumers, and increasing demand from the healthcare and cosmetics industries are the prime factors behind the dominance of Europe in the global squalene market.
Significant economic development in the Asia-Pacific region, the growing spending power of consumers, rapid urbanization, and a growing presence of major pharmaceutical and cosmetic manufacturers in the region are the major factors driving the growth of the Asia-Pacific’s squalene market. North America is also expected to offer significant growth opportunities during the forecast period.
The Squalene Market is segmented by–
By Source Type:
- Animal Source
- Vegetable Source
- Biosynthetic Source
By End-Use Industry Type:
- Cosmetic
- Food & Beverage
- Pharmaceuticals
- Others
By Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Get access to a deep coverage of the impact of COVID-19 on this Market here: https://www.stratviewresearch.com/Request-Sample/1474/squalene-market.html#form
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.