Plant-based Squalene Market Landscape Outlook, Revenue Growth Analysis by Fact MR

Plant-Based Squalene Market to reach US$ 82.4 million at the end of 2021 states that the global market in terms of year-on-year (YoY) grew by 1.5%. But demand for plant-based squalene worldwide will continue to grow between 2022 and 2032 with an 8.5% CAGR. Demand for the plant-based squalene market is growing rapidly primarily because of increasing consumer trends to opt for environment-friendly, natural, and cruelty-free products within the cosmetics and pharma industries related to food. Squalene is a natural lipid that originated from shark liver oil. Nonetheless, amid environmental concerns and the ethical debate surrounding sharks' overexploitation, plant-based squalene now attracts considerable popularity as an eco-friendly and ethical alternative.

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Market Dynamics

A number of key dynamics affect the growth of the plant-based squalene market.

Increasing consumer awareness about the ecological footprint as well as ethical origin of products is shifting their preferences towards plant-based squalene in place of shark-derived options. Specifically, this trend is noticed in the cosmetics and beauty industries.

Increased Demand in Cosmetics: Squalene has been widely used in cosmetics and skincare. This is attributed to its deep hydrating powers for the skin as well as its elasticity improvement. As the global market for beauty and personal care continues to increase in rates, this further enhances the demand for sustainable sources of squalene.

Shift towards vegan and natural products: Globality towards veganism, in addition to the demand for nature-based ingredients, has highly boosted the need for plant-based squalene. This is considered safer and more natural compared to synthetic or animal-based ingredients applied in both cosmetics and pharmaceuticals.

Recent technological progress in extraction processes for squalene from olive oil and sugarcane has improved yield, efficiency, and quality. The companies can now meet the growing demand in an increasing aspect without losing their competitive advantages because of the lower production prices.

Government Regulations and Environment Initiatives: With more countries establishing stricter rules on animal-derived ingredients and promoting sustainable activities, positive regulatory environments for plant-based squalene producers are ahead of us.

Key Players

• Amyris
• ARISTA INDUSTRIES
• Caribbean Natural Products Inc.
• Charkit Chemical Company LLC
• Clariant
• EPF Biotek
• Jedwards International, Inc.
• Lotioncrafter
• Nucelis
• Spohim
• SynShark
• The Ordinary
• Wilshire Technologies

Market Outlook

The future for the plant-based squalene market seems promising, as the trend for investments in sustainable and cruelty-free ingredients continues to gather momentum. Further advancements in biotechnology, consumer preference for eco-friendly products, and a gradually increasing application base across not only cosmetics, food, and pharmaceuticals but also renewable energy areas are what is poised to drive the market after ten years of growth.

Cosmetics is currently the largest market segment for squalene, and the companies in this industry are expected to continue the demand for the market-based moisturizers, anti-aging products, and sunscreens. Moreover, clean beauty coupled with a lot of transparency regarding the source of ingredients will further advance this market.

With greater cost competitiveness with synthetic and animal-derived alternatives, plant-based squalene is likely to gain more ground. Huge growth opportunities are expected to arise from expansion in the Asia-Pacific and Latin America, where consumer preference for natural and sustainable ingredients is on the rise.

Market Analysis

Main plant sources Squalene is still one of the major vegetable sources for olive oil isolation; due to high content in olive oil, this makes it a favorite source. Other plant sources such as sugarcane and amaranth oil are also becoming popular because they yield very high and are sustainable.

Sustainability through Regulation: Backed by favorable regulations for the use of plant-based ingredients, most nations have already enacted legislation, which has given the plant-based squalene market an unprecedented boost. For one, dropping popularity of shark-derived squalene is supporting this market.

Besides cosmetics, there is also another significant application of plant-based squalene in pharmaceutical products due to its immunoenhancing and anti-inflammatory properties. Vaccine adjuvants may be the other key application where squalene has been figured as a promising addition across numerous efficacy studies.

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Competitive Landscape

Squalene coming from plant sources is indeed not that competitive, as they struggle to gain market share through investments in research and development, sustainable extraction technologies, and partnerships with companies that produce cosmetics and drugs. With a push towards higher certifications for vegan and cruelty-free products, competition has increased significantly, and players have focused much on sustainability credentials to differentiate their products.

Increased R&D activities have led to increased end-use industries in which usages of squalene are found. For instance, it has been proven that diets supplemented with squalene enhance the immune function. Additionally, lab researches conducted have shown that squalene enhances the performance of macrophages.

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