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Growth of the end-use
industries such as cosmetics, nutraceuticals, and healthcare industry are expected
to fuel the market growth during the forecast period. Growth in use of squalene
as a chemo-preventive agent, and the increase in value and potential of dietary
supplements derived from squalene drives the global squalene market. Government
regulations to stop shark killing for squalene extraction is expected to affect
the growth of the world squalene market during the forecast period.
Food supplement is the
fastest growing market due to rise in demand of the squalene products. The
leading market players such as Amyris, Inc., and Croda International plc
exhibit a strong brand image because of their diverse product offerings and
hence, there is a low threat of new entrants in this market. In addition,
requirement of high capital investment and difficulties in availability of raw
material due to ban on shark fishing by government indicate a low threat of new
entrants. These dominant players have captured major market share, thereby
benefiting from the economy of scale. Furthermore, there is high cost of squalene
produced from vegetable and there is high cost in research and development of
synthetic biotechnology.
The demand for squalene
from vegetable sources are projected to witness significant growth owing to the
stringent government regulation regarding the ban on killing of shark. More and
more companies are shifting towards organic sources to reduce the shark liver
oil usage. Olives account for the highest share in the market while amaranth
seeds are also good alternatives to olives.
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Key findings of the study
o Squalene in cosmetics application segment occupied the highest share in 2015,
and is expected to grow at a CAGR of 9.8% in terms of value during the forecast
period.
o Japan is the leading consumer of squalene accounting for more than one-third
share of the Asia-Pacific market, followed by China.
o The synthetic bio-technology sourced squalene segment is expected to expand
with the highest CAGR of 11.7% in terms of value during the forecast period.
o Vegetable sourced squalene segment accounted for approximately half of the
global squalene market in 2015.
o U.S. is the leading market for squalene in the
North American region, growing at a CAGR 6.4% in terms of value during the
forecast period.
Europe accounted for the
largest share in the global squalene market in 2015, while Asia-Pacific is
projected to be the highest growing market for squalene during the forecast
period. This is attributable to increase in cosmetics segment and rise in
health concerns in the region. India is the fastest growing country of the
region for the consumption of squalene, which is expected to continue this
dominance.
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In response to the rise
in need of squalene-based products Amyris, Inc. (February 2014), made an
agreement with Dowell C&I Co., Ltd., to distribute and expand personal care
business in Asia. Dowell has become a distributor of Neossance in Korea. This
agreement led to the expansion of business in the Asia-Pacific region. The
prominent players profiled in this report include Seadragon Marine Oils
Limited, Arista Industries Inc., Maruha Nichiro Corporation, Gracefruit
Limited, Kishimoto Special Liver Oil Co. Ltd., Amyris Inc., New Zealand Green
Health Ltd., Carbomer, Asha Biochem, and Croda International PLC.
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