Squalene Market- Plant-Based Squalene to Emerge as an Alternative in Response to Shark Slaughter

Squalene Market was valued at USD 133.9 Million in 2021, and it is expected to reach USD 226.65 Million by 2029, exhibiting a CAGR of 6.8 % during the forecast period (2022-2029)

Squalene is a colourless poly-unsaturated hydrocarbon liquid found in a variety of animals and plants, including human sebum. It is essentially one among the numerous natural lipids produced by your body to lubricate and protect your skin. Squalene is thought to account for 10 to 12 percent of an individual's skin oil. Unfortunately, due of its effectiveness, it is frequently gathered in unethical methods. It may and is widely obtained from plants such as olives, wheat germ oil, and rice bran. Though most squalene is derived from sharks on a global scale, the industry has begun to transition toward plant-based squalane in the recent decade as public awareness of the harsh techniques involved in shark livering has grown. The squalene market is expected to increase in value over time. As conservation efforts improve, the animal-based squalene sector is likely to develop slowly. The animal-based squalene business, on the other hand, is not expected to go away anytime soon.

The global squalene market was worth USD 133.9 million in 2021. Cosmetics were the most profitable category in the squalene market, accounting for 65.7% of total sales. Pharmaceuticals accounted for 8.3% of global squalene volume. Vegetable-based squalene, generated from olive oil, amaranth oil, wheat germ, and rice bran oil, contributed for 47.2% of total volume in 2021, making it the market's largest volume segment. This market category was expected to grow significantly. Squalene derived from animals was also a significant market category, with a market value of USD 48.2 million. However, this market was predicted to increase slowly between 2016 and 2022. In 2021, Europe was the largest regional market for squalene, accounting for 38.6% of total volume. However, due to a growing cosmetics industry in India, China, South Korea, Indonesia, and Malaysia, Asia Pacific was expected to witness the fastest volume of growth, with a compound annual growth rate (CAGR) of 12.9% from 2016 to 2022.

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Plant Based Squalene Are Trending in the Squalene Industry Across the World
• Concerns raised by marine animal protection authorities to positively impact plant-based squalene sales.

• Rising demand for cosmetic products manufactured using sustainably-sourced ingredients to fuel the squalene market growth.

• Escalating usage of nutraceuticals in aftermath of COVID-19 has increased the demand for squalene.

• High Regards for animal care is estimated to drive the U.S. plant-based squalene market during the forecast period.

• The Chinese plant-based squalene business will be profitable for producers. The Asia Pacific region's personal care and food sectors are growing fast, with China leading the way.

• Shark liver's reliance on squalene production has dropped dramatically as a result of the constraints set by marine animal conservation organisations. Firms have begun extracting squalene from sugarcane and olive oil to meet the rising demand for squalene-based cosmetics.

• As a result of the limits established by marine animal conservation organisations, shark liver's reliance on squalene manufacture has decreased significantly. To fulfil the increased demand for squalene-based cosmetics, firms have begun to extract squalene from sugarcane and olive oil.
Squalene Market Dynamics
Increased Use of Squalene in Beauty Products and Cosmetics Industry

Squalene is a lipid generated naturally by your skin cells that accounts for around 13% of human sebum. The quantity of squalene produced by the human body decreases with age, with peak production happening in the teen years and production dropping in the 20s or 30s. As a result, as people age, their skin becomes drier and harsher. Cosmetics aid in the correction of this natural process by increasing the body's squalene supply with squalene derived from shark livers or plants. The capacity of topical squalane derived from sharks and plants to imitate the good benefits of the body's natural activities is what makes squalane such a sought-after substance. Squalene is a natural antioxidant that is commonly found in cosmetics and beauty products. It aids in the elimination of fine lines and sun damage. The growing demand for squalene and its derivatives in cosmetics has fueled the growth of the squalene market.

Squalene has traditionally been used in the medical sector to heal wounds and skin disorders. Squalene is a natural emollient, so it seals moisture into the skin and alleviates dry spots. Squalene improves the spreadability and absorption of creams and lotions and has been shown to minimise moisture loss, reduce the appearance of fine lines, and aid in wrinkle prevention. These characteristics make it a highly desirable component, particularly for high-end facial cosmetics. Squalene has made its way into every area of the personal care business as a preferred emollient for sunscreen, foundation, face moisturiser, lipstick, eye makeup, tanning oil, and many more products. This has steadily raised demand for squalene in the cosmetics sector and is expected to drive Squalene industry growth during the forecast period.

Concerns and Limitations over Killings of Shark for Squalene Extraction

Every year, 2.7 million sharks are trapped and murdered for their livers. The cosmetics business is the principal perpetrator of this merciless hunt that is pushing the extinction of rare and fragile deep-sea animals. Shark livers are strong in squalene, which is known for its moisturising and healing effects. Squalene has made its way into every part of the personal care business as a preferred emollient for many cosmetics products, but at a massive, lethal cost that many customers are unaware of. According to MMR research, more than 50 shark species are fished for their liver oil, some of which are on the Red List of the International Union for the Conservation of Nature. In 2012, the global demand for shark liver oil was 2,200 tonnes. 90% of this was used in cosmetics, 9% in nutraceuticals, and 1% in pharmaceuticals, veterinary medications, and other unidentified items. To put this into perspective, it takes 3,000 sharks to make one tonne of squalene. Concerns over shark kills are expected to reduce demand for squalene and hinder market growth in the future years.

Campaigns such as Oceana's 2008 call for the cosmetic industry to stop using shark liver oil exist, and consumers are supporting the call for the cosmetics industry to impose stricter labelling requirements regarding squalane source. Oceana's campaign and others have achieved significant progress, compelling major corporations such as Unilever (Ponds and Dove) and L'Oreal to announce the withdrawal of shark squalane from their cosmetics lines. By 2010, much of the EU had switched to utilising entirely plant-based squalene/squalane. The squalene business is largely unregulated, and brands are under no legal need to disclose the source of their squalane to customers (or any other ingredient, for that matter). Except for South Korea, no country has a separate customs code for squalane; instead, squalane is often included in the "fish oils" customs category. This makes monitoring and analyzing trends in production and commercial exchanges on the global Squalene sector challenging.

Benefits of Squalene in Reduction of Cancer Risk

Squalane first piqued the interest of cancer experts due to the apparent association between a high level of squalene in shark fatty tissues and the lack of cancer in this species, as well as likely playing a substantial part in the Mediterranean Diet's reduced cancer rates. It has been proposed that squalene has anti-carcinogenic effects via lowering farnesyl pyrophosphate levels in cells, where prenylation of FPP is essential for oncogene activation. A technique proposed to minimise cancer risk without significantly disrupting the usual biochemical route.

Squalene has been theorised to function by raising squalene levels in the body, inhibiting the HMG-CoA enzyme via negative feedback, and therefore causing reduced FPP formation. This approach would provide protection against breast, pancreatic, and colon carcinomas, as well as other malignancies linked with oncogene mutations. Squalene can also operate as a free radical scavenger and appears to increase the anti-carcinogenic impact of co-ingested medication therapies, as well as showing cancer synergism with oleic acid, another ingredient of olive oil. The prospect of squalene advantages in cancer risk reduction is projected to generate profitable opportunities for the growth of the squalene business.

Use of Squalene (AS03, AF03 & MF59) as Adjuvant in Vaccines in Pharmaceutical Industry

Immunologic adjuvants are chemicals that, when combined with a vaccine, activate the immune system and boost the vaccination's reaction. Squalene is not an adjuvant in and of itself, however it has been employed in combination with surfactants in several adjuvant compositions. Seqirus' patented MF59 is a squalene-based adjuvant that is added to influenza vaccinations to assist increase the human body's immune response through the development of CD4 memory cells. It is the first commercially available oil-in-water influenza vaccine adjuvant in conjunction with a seasonal influenza virus vaccination. MF59 has the ability to activate a number of genes that overlap with those activated by other adjuvants.

Adjuvants are used in combination with influenza vaccinations to boost immune response and increase disease protection. Squalene-based emulsion adjuvants such as MF59, AS03, and AF03 have been approved for use with influenza vaccinations and are widely utilised in many countries. Adjuvants based on squalene stimulate a robust innate immunological response, improving antigen presentation both quantitatively and qualitatively, resulting in significant B cell responses and antibody generation. They also broaden the reactivity profiles of antibodies against the influenza hemagglutinin, enhancing protection across viral clades. This medicinal benefit of squalene is expected to drive the squalene market forward.
Squalene Market Segment Analysis
The Plants Segment Dominated the Squalene Industry, Based on Source Segment

The plants segment dominated the market with a revenue share of over 82.7% in 2021. This is due to the diminishing shark population, increased public awareness of animal welfare and conservation, and regulatory frameworks implemented by the government for the protection of marine creatures. According to the International Olive Council (IOC), due to the significant cultivation of olive trees in this region, global olive oil output might exceed 3,214,500 tonnes, a 2.9% increase over the previous crop year. Squalene is naturally present in olives, amaranth, and rice bran. The product is found in the highest concentrations in olives, depending on the cultivator, extraction process, and level of oil refinement. When compared to refined olive oils, extra virgin unrefined olive oil has higher concentrations of the product.

Shark squalene is derived from the liver oil of newly preserved livers of a variety of deeper water shark species, which have a greater product concentration. Because it takes around 3000 sharks to extract one tonne of squalene, overfishing of these creatures has resulted in a major reduction in the population of some species, as over 2.7 million deep-sea sharks are poached each year due to their widespread use in the beauty business. Several regulations were enacted to preserve these sharks and to force producers to utilise plant-based squalene sources. Extraction, ownership, or trading of ten elasmobranchs is strictly illegal in India under the Wildlife (Protection) Act of 1972.

The Personal Care and Cosmetics Segment Dominated the Squalene Industry, Based on End-Use Segment

In 2021, the personal care and cosmetics segment held more than 73.5% of the global Squalene market. The use of squalene in a number of cosmetic products for skin and hair care has contributed to the segment's rise. Multinational cosmetic businesses such as L'Oréal, Unilever, and St. Botanica have already begun to transition from shark liver oil-based to plant-based squalene for usage in their personal care products and cosmetics due to its excellent characteristics and lower danger of shark extinction. L'Oréal purchased Youth to the People, a company located in the United States with offices in Canada, the United States, Australia, and a few European nations, in 2021. Plant extracts are used to create skincare products at Youth to the People. This acquisition has enabled L'Oréal to employ plant-based squalene rather than shark-based squalene in its beauty goods.

Food is the second-largest end-use industry in the Squalene industry, behind pharmaceuticals. Squalene is used to boost the nutritional content of a variety of food items. These are used in the manufacturing of dietary supplements such as capsules, pills, and other items. The demand for squalene in the food business would be determined by the expansion of the nutraceuticals sector's dietary supplements segment. The nutraceuticals industry is currently growing, fueled by growing economies such as India, China, and Brazil.
Squalene Market Regional Insights
Europe dominated the market in 2021 with a revenue share of over 34.1%, followed by the Asia Pacific region. This is due to large-scale production of olive oil, which is a key plant-based source of squalene, as well as increased demand for the product from major economies in the region such as Germany, France, the United Kingdom, Italy, and Spain. Europe accounts for a sizable portion of olive oil production as of 2021. Italy, France, and Spain are only a handful of the region's nine producing member countries. Spain accounts for more than half of Europe's total olive grove area. Squalene producers in this region are transitioning from shark-based to plant-based squalene production.

In 2021, the pharmaceutical industry had one of the highest R&D budgets in France. In 2021, it contributed for 9.8% of total pharmaceutical sales. To ensure environmental safety, pharmaceutical firms in France are constantly investing in research and development operations to provide novel and effective medications made from bio-based chemicals. This, in turn, is expected to enhance use of plant-based squalene in the country's pharmaceutical industry during the forecast period. In 2020, Germany will import around 85 tonnes of olive oil due to rising demand from health-conscious customers and increased use of plant-based squalene in different end-use sectors such as personal care goods and cosmetics, nutraceuticals, and medicines. Companies such as L’Oréal in Germany have switched from the usage of animal-derived to plant-derived squalene in their products.

The Asia-Pacific area is expected to be the fastest-growing market for personal care and food. Squalene's immune system strengthening, anti-aging, anti-oxidation, and UV protection capabilities are expected to boost squalene market growth. The fast expansion of the food processing sector in China, India, and ASEAN nations is likely to boost demand for squalene. The Chinese food and beverage sector was valued at around 98.78 billion in 2021. It is expected to reach around USD 231.96 billion by 2024, with a CAGR of approximately 19.02%, boosting demand for the squalene industry. The pharmaceutical market in China was valued at around USD 157 billion in 2021, and it is expected to reach approximately USD 185 billion by 2023, with a CAGR of approximately 3.6%, driving demand for the studied market. The increasing use of squalene in bath oils, eye makeup, suntan, nail products, body powders, cleansing, moisturising, and other cosmetic and personal care products, as well as the growing demand from the cosmetic and personal care industries in countries such as China and India, are expected to drive the squalene industry.

The Asia-Pacific area has one of the world's major cosmetics production businesses. The majority of the demand comes from China, Japan, South Korea, and Singapore. China is a significant cosmetics consumer. Cosmetics retail trade income in China was around USD 4.33 billion in March 2019. It reached around USD 3.85 billion in March 2020, a fall of almost 11%, mostly owing to the COVID-19 effect, which resulted in a decrease in demand for cosmetics in the nation, increasing demand for the squalene market. South Korea boasts one of the world's best beauty marketplaces. New beauty trends and advances are continuously on show, with complex ingredients and visually pleasing packaging. In 2019, the South Korean personal care products market was worth USD 11,301.76 million. During the forecast year, it is expected to reach USD 14,301.67 million, boosting the country's Squalene industry demand. As a result, the mentioned factors are expected to have a substantial influence on the Squalene market over the forecast period.
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Squalene Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 133.9 Mn.


Forecast Period 2022 to 2029 CAGR:
6.8%
Market Size in 2029:
US $ 226.65 Mn.


 Segments Covered:
by Source
• Animal
o Shark Liver Oi
o Others
• Plants
o Amaranth Oil
o Olive Oil
o Rice Bran Oil
o Others
• Synthetic


by Type
• Animal Source
• Vegetable Source
• Biosynthetic


by End-Use
• Pharmaceuticals
• Personal Care & Cosmetics
• Nutraceuticals
• Food & Beverages
• Others



Leading Players in the Squalene Market are:
• Arbee Biomarine Extracts Pvt. Ltd. (India)
• Blueline Foods Pvt. Ltd. (India)
• Coastal Aquatic Proteins (India)
• Aasha Biochem (India)
• Kishimoto Special Liver Oil Co. Ltd. (Japan)
• Maruha Nichiro Corporation (Japan)
• Pharmsville Co.,Ltd. (South Korea)
• Cnlab Nutrition (China)
• Seadragon Marine Oils Limited (New Zealand)
• SaDragon Marine Oils Limited (New Zealand)
• New Zealand Green Health Ltd. (New Zealand)
• Rlr Squalene (Philippines)
• Isho Genki International (Australia)
• Maypro (US)
• Amyris, Inc. (US)
• Carbomer Inc (US)
• Nucelis LLC (US)
• Arista Industries Inc (US)
• Advonex International Corporation (Canada)
• Evonik Industries AG (Germany)
• Gracefruit Ltd (UK)
• Empresa Figueirense De Pesca, LDA (Portugal)
• VESTAN Squalene Hydrogenation (Portugal)
• Clariant AG (Switzerland)
• Sophim (France)

Frequently Asked Questions:

1] What segments are covered in the Global Squalene Market report?
Ans. The segments covered in the Squalene Market report are based on Source and by Type End-Use.

2] Which region is expected to hold the highest share in the Global Squalene Market?
Ans. The Europe region is expected to hold the highest share in the Squalene Market.

3] What is the market size of the Global Squalene Market by 2029?
Ans. The market size of the Squalene Market by 2029 is expected to reach USD 226.65 Mn.

4] What is the forecast period for the Global Squalene Market?
Ans. The forecast period for the Squalene Market is 2021-2029.

5] What was the market size of the Global Squalene Market in 2021?
Ans. The market size of the Squalene Market in 2021 was valued at USD 133.9 Mn.