Animal-sourced Squalene Market Size, Share, Growth, and Industry Analysis, By Type (C Level, Director Level, Others), By Application (Cosmetics, Food Supplements, Healthcare) and Regional Forecast to 2032

Updated On: 02 September 2024

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ANIMAL-SOURCED SQUALENE MARKET REPORT OVERVIEW

The global Animal-Sourced Squalene Market size was USD 114.75 million in 2023 and the market is projected to touch USD 209.19 million by 2032, exhibiting a CAGR of 6.19% during the forecast period.

An organic substance that can be found naturally, squalene serves as a biochemical building block for the entire steroid family. Moreover, vaccinations employ squalene as an adjuvant. For commercial use, shark liver oil is the primary source of it. To fulfill the increased need for squalene, however, botanical sources like amaranth seed, rice bran, wheat germs, and olives as well as biosynthetic sources like genetically modified yeast cells are also employed these days.

Growing consumers attention towards benefits of animal sourced squalene spur market growth and promote manufacturers to develop innovative techniques to prepare animal sourced squalene to enhance their productivity and rise their growth graph. Furthermore, R&D expenditures are essential for developing technology and raising the caliber of products. The primary reason for the dominance of animal sources in the squalene market is that they are less expensive than vegetable and other sources. However, the strict government regulations pertaining to animal protection will pose challenges for the animal-sourced squalene industry. Furthermore, R&D expenditures are essential for developing technology and raising the caliber of products. The market is witnessing observable growth factors due to rapid expansion of industrial area, increasing urbanization and growing environmental concerns. Further, compound is widely used feedstock for various products and is projected to drive market growth during the forecast period. It makes a major contribution to the health sector. Manufacturers are putting their emphasis on the market due to its multidisciplinary approach in various end use industries such as pharmaceutical and healthcare.

COVID-19 Impact: Sharp Decline In Demand Due To Lockdown Restriction Leads To Negative Affect On Market

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Covid pandemic leading economic uncertainty, emphasizes the importance of agile online data analysis and its transfer to adapt to changing market conditions. Initially, shutdowns and non-essential service regulations caused demand to slow as people but off non-print repairs and overhauls. Many company also faced short term shutdowns that affected the financial segment of the market. The covid 19 pandemic has a huge impact of the demand and supply of animal-sourced squalene market. The vision has utility during production and inspection process to evaluate product quality. Manufacturing activity has been declined in the sectors such as electronics, automotive and others, due to shortage of labor and government restriction due to pandemic. Manufacturers reacted by emphasizing the development of safety measures and sanitation processes that boosted the confidence of the customers. An innovation that can meet the need for convenience and efficiency while trying to match the latest green and active transport technologies. After the safety measures and hygiene protocols have been improved, vision system has also become a highly reliable and preferred option for manufacturers who value it for its flexibility and sustainability. The COVID-19 pandemic had a big effect on the market for animal-sourced squalene since companies were forced to move their operations on digital platforms in order to keep their growth from stopping. Travel limitations brought about by the COVID-19 pandemic have changed international business practices. animal-sourced squalene market has made it easy and uninterrupted for enterprises worldwide to adopt working practices. The strategy has made it easier for firms and employees to communicate by removing geographical barriers. Additionally, a lot of businesses have started implementing work-from-home policies, and the hotel industry's expansion has been negatively impacted by restrictions on business travel aimed at stopping the spread of the new coronavirus. If remote working patterns are kept up after the pandemic, the animal-sourced squalene market will decline quickly on a global scale. Organizers and educational institutions ran into problems when trying to provide in-person cybersecurity instruction.

LATEST TRENDS

"Growing Health Concerns Will Determine Industry Trend "

The general public's growing concern for health is anticipated to fuel market expansion. The general public is expected to set market trends because they are more likely to take dietary supplements and lead healthy lifestyles. Furthermore, the government's increasing assistance in implementing reimbursement programs and altering rules is predicted to fuel industry expansion. The need for people to maintain their physical fitness is expected to be another driving force behind market expansion. Furthermore, a greater understanding of the advantages of squalene is anticipated to accelerate market expansion. The market is expanding as a result of an increase in the number of people incorporating dietary supplements into their regular diets and an increase in health consciousness. As a result, squalene is selling consistently all over the world. Like any other market, the animal sourced squalene market is very dynamic. Adoption of new technologies and introduction of innovative gear that helps several sectors creates opportunities for market expansion. The animal sourced squalene market is significantly impacted by the government's growing support for changing regulations and implementing payment plans. The expansion of the animal sourced squalene market is being driven by the rising demand for customized medications. The squalene market has grown as a result of this tendency, which is anticipated to continue. Online shopping has increased market access since it is so simple for customers to peruse and buy things. Customizable and personalized makeup is likewise becoming more and more popular. Customers value being able to customize something to fit their own requirements and tastes. The squalene market is driven by all of these factors.

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ANIMAL-SOURCED SQUALENE MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into C Level, Director Level, Others.

C Level: This segment includes C level in the animal sourced squalene preperations.

Director Level: This segment includes director level at which all the formulations are being sorted.

By Downstream Industry

Based on application the global market can be categorized into Cosmetics, Food Supplements, Healthcare.

Cosmetics: This segment includes cosmetics sector which gets benefitted through utilizing animal sourced squalene for different beauty care products preparations. This segment includes application of animal sourced squalene in beauty and personal care products such as cream, lotions, hair oils, massage cream, foundations base, and powder, especially the products which are free from harmful chemicals such as parabens prepared in such a way that they can be used for new born also.

Food Supplements: This segment includes food supplements which can be prepared through animal sourced squalene. Since there are many different types of foods created with organic virgin coconut oil on the market, this sector covers the use of animal sourced squalene in the food and beverage business.

Healthcare: This segment includes healthcare sector where animal sourced squalene is utilized for preparations of drugs, vaccines, medicines. This section covers the usage of squalene in health care goods. For example, a lot of the pharmaceutical industry uses squalene as a foundation for formula preparation.

DRIVING FACTORS

"Expansion Of The Cosmetics Sector Spur Market Growth"

Another factor propelling market growth is the increasing knowledge of health benefits associated with products. Natural and sustainable products are becoming more and more popular among consumers. Because it aligns with these trends, squalene is in high demand as a component in cosmetic formulations, especially when derived from plant-based sources like olive oil. Squalene is highly valued because to its exceptional moisturizing properties and ability to mimic the natural oils present in the skin.  For this reason, it's an essential ingredient in skincare products including as moisturizers, anti-aging creams, and serums. Consumers are become more aware of the importance of skincare and the ingredients in makeup. Squalene's appeal has increased as individuals become more conscious of the products they use because of its advantages for the skin. Given how relaxing and moisturizing squalene is for the skin, dermatologists often recommend it. This expert suggestion makes it easier to incorporate into a variety of skincare regimens. As generation keeps to evolve, the market is expected to grow in addition, with new and advanced answers continually emerging. In this manner this factor ended in animal-sourced squalene market growth. 

"Fresh Sources Of Renewable Energy For Manufacturing Leading Market Expansion"

The supply and costs of shark liver oil are subject to fluctuations due to regulations, low concentration of squalene in vegetable oils, and the source of the oil being sharks. The availability of squalene is significantly impacted in many different areas due to the different restrictions placed on shark killing. Vegetable oils have relatively little squalene in them, hence massive amounts of amaranth and olives are needed to make a tiny amount of squalene. Retail prices for squalene are now high as a result. The players now have more potential to explore novel technologies to produce squalene from non-traditional sources. The sources of squalane (hydrogenated squalene) are recognized as sugarcane and other sugar-containing biomaterials.

RESTRAINING FACTORS

"Increased Production Costs May Limit Market Expansion"

Manufacturing squalene can be challenging for a variety of reasons, such as the lack of raw materials and the requirement for specialized equipment and expertise. Higher production costs, however, have been the main barrier preventing the business from growing. The cost of production is increased dramatically by the use of specialized purification procedures, large-scale fermenters, and specific growing media for microorganisms. In addition, there is a significant chance of contamination or low production because bacteria require a sterile and stable environment to develop. The growing vegan population's desire for animal-free food has led to an increase in demand for microbe-based precision fermented proteins or fats. Additionally, the high cost of squalene products is a result of the restricted supply of raw ingredients, especially shark liver oil. Customers now find it difficult to obtain squalene-based products because of this, especially in areas where there is a strong demand but a limited supply. Furthermore, the price of the animal sourced squalene rises because to variations in raw material supply, potentially restricting the market's potential for expansion. Moreover, the market's growth may be impeded by the ongoing modifications in business dynamics and strategic objectives. It can be costly and time-consuming to produce squalene as a result, which makes it difficult for small businesses to enter the market and compete with larger brands. Market developers continue to face challenges as variations in the availability of raw materials raise the cost of completed items accordingly.

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ANIMAL-SOURCED SQUALENE MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America Dominating the Market due to Presence of a Large Industrial Base"

In terms of market share, the North America region dominated the animal-sourced squalene market share in 2023. Due to the existence of production facilities, North America is predicted to hold a dominant market share in animal-sourced squalene. From 2023 to 2032, North America is expected to lead the global squalene market. Due to rising consumer preference for natural ingredients and concerns about sustainability, the North American market has seen a considerable movement toward plant-based sources of squalene. Squalene is mainly in demand in the personal care and cosmetics sectors in North America. It is a common ingredient in skincare products since it moisturizes skin and blends nicely with natural skin oils. Innovation and technology adoption strengthen the region and create its overall market dominance. Customers in North America are becoming more aware of the ingredients in the skincare products they use. North America also has a well-developed and established educational system and robust healthcare infrastructure which helps to adopt and integrate the animal-sourced squalene market. The demand from consumers for products created with natural and sustainable components has led to an increase in the squalene market. North American health and wellness trends have created a demand for items that improve overall health, like skincare products with beneficial ingredients like squalene. Innovation and technology adoption strengthen the region and create its overall market dominance. Moreover, it is anticipated that market demand in this region would be outpaced by expanding capital income in both developed and developing nations. The European market is positioned to lead the market presence, after North America, due to the increase in funding from both public and private entities in the pharmaceutical sector. Alongside other regions, North America plays a core role in the ongoing growth of the market however, the region’s superior academic and healthcare environment solidifies its role as a major hub for the deployment and utilization of animal-sourced squalene market for medical education, research and clinical practice.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The animal-sourced squalene market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. These industrial titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to meet the changing demands and tastes of consumers. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.

List of Market Players Profiled

• Arista Industries (U.S.)
• Croda International (U.K.)
• Amyris (U.S.)
• Kishimoto Special Liver Oil (Japan)
• New Zealand Green Health (New Zealand)
• Arista Industries (U.S.)
• Gracefruit (Scotland)
• Seadragon Marine Oils (New Zealand)
• Maruha Nichiro (Japan)

INDUSTRIAL DEVELOPMENT

October 2020: Amyris declared that it would obtain a commercial license to begin manufacturing non-shark squalene and providing non-shark squalene samples to pharmaceutical companies that manufacture adjuvants for vaccines like the COVID-19 and influenza shots.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.