What is the future of Squalene Market? Know Covid Impact on Size, Share & Forecasts
It was estimated prior to this unanticipated outbreak that the Squalene Market was expected to grow at a CAGR of 8.2% during the forecast period.
Jul 26,2021 / IndustryNewsGlobal / The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Squalene Market.
It was estimated prior to this unanticipated outbreak that the Squalene Market was expected to grow at a CAGR of 8.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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 now a days to meet the growing demand for squalene.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the source type, the market is segmented as animal source, vegetable source, and biosynthetic source. The animal source segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. Squalene obtained from animal source is far less economical than that obtained from vegetable and biosynthetic sources. It is the prime factor behind the dominance of animal source in the global squalene market.
Based on the end-use industry type, the squalene market is segmented as cosmetics, food & beverage, pharmaceuticals, and others. The cosmetics segment holds the largest share of the market and is also expected to witness a healthy growth during the forecast period. Strong demand from cosmetics and skin care industry, owing to growing demand for high quality product is the major factor behind the dominance of the segment.
In terms of regions, Europe is estimated to be the largest market for squalene during the forecast period, whereas Asia-Pacific is expected to witness the highest growth during the same period. Growing demand for natural cosmetics, high spending power of consumers, and increasing demand from 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, growing spending power of consumer, rapid urbanization, and 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 opportunity during the forecast period.
Key Players:
Some of the major players in Squalene market are-
- Sophim,
- Amyris,
- Kishimoto Special Liver Oil Co. Ltd.,
- SeaDragon Marine Oils Limited,
- Nucelis LLC,
- Arista Industries Inc.,
- Ekiz Olive Oil & Soap Inc.,
- Empresa Figueirense De Pesca, Lda,
- Arbee BiomarineExtracts Pvt. Ltd.,
- New Zealand GreenHealth Limited.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Squalene Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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