The 2nd largest oil-producing country in the world has decided to diversify and make way for additional opportunities in the coming decade. Saudi Arabia (KSA)…
Growing usage of squalene in cosmetic products to feature in the global squalene market between 2018 and 2024
Squalene is an unsaturated hydrocarbon which is used in several industries such as cosmetics, and healthcare. Additionally, it is used in health foods, vaccines and as a lubricant in high-grade machinery. It can be derived in small quantities from synthetic biotechnology and vegetables, and in large quantity in shark liver oil. One of the factors encouraging the growth of squalene market is its increased usage of cosmetics. Squalene is absorbed quickly into the skin without leaving an oily residue and gets mixed with other oils. This increases the demand for Squalene in cosmetic products and personal care products which results in increasing in Squalene market. High frequency of cancer and cardiovascular diseases is anticipated to drive squalene demand for pharmaceutical applications as it reduces carcinogen and cholesterol levels. Another factor driving the market growth is the upsurge in the number of people with chronic diseases such as chronic lung disease, cardiovascular, cancer, and diabetes. On the other side Requirement of high capital investment and difficulties in availability of raw material due to ban on shark fishing by governments strict regulation is hampering the growth of the global squalene market.
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Europe region to dominate the global squalene market through 2018-2024
Europe is projected to be the largest market for squalene followed by Asia Pacific. Hetal Patel a research analyst at Infinium Global Research quoted that the growth in the Europe market for squalene is owing to the growth in natural ingredients demand obtained from the plants for cosmetic products and personal care products, particularly in France, Italy and Germany is driving the growth of this market.
Hetal Patel further quoted that the growth in Asia Pacific region is due to increasing cosmetics sector in China, India, Indonesia, Malaysia and South Korea. Growing demand for dietary supplements and changing lifestyle, rising health awareness and increasing disposable income is boosting the growth of squalene market.
New Launches to remain key expansion strategies of the leading players in the Squalene market from 2018-2024
Biotech Company Amyris has launched FDA regulated sugarcane derived squalene.
The cosmetics, personal care, and fragrances ingredient maker has announced the availability of pharmaceuticals grade of its bio based squalene. It is USP certified ingredient that will bolster the company’s reputation.
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Some of the leading companies in the global squalene market such as, Arista Industries Inc, Nucelis LLC , Gracefruit Limited, SeaDragon Marine Oils Ltd.Heineken NV, AASHA BIOCHEM, Amyris Biotechnologies, Maruha Nichiro Corporation, Sophim, and Kishimoto Special Liver Oil Co. Ltd.