Europe Squalene Market Size, Share & Trends Analysis Report By Source (Animal, Plant, Synthetic), By End Use (Pharmaceuticals, Personal Care & Cosmetics, Nutraceuticals, Food & Beverages), By Country, And Segment Forecasts, 2021 - 2030
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Squalene Market Size, Share & Trends Analysis Report By Source, By End Use, By Country And Segment Forecasts, 2021 - 2030" - https://www.reportlinker.com/p06134854/?utm_source=GNW
Europe Squalene Market Growth & Trends
The Europe squalene market size is expected to reach USD 99.12 million by 2030. It is expected to expand at a CAGR of 10.6% from 2021 to 2030. Increasing usage of squalene in pharmaceutical products as an adjuvant for immune enhancement is one of the major factors driving the demand.
Squalene plays a vital role in certain additives, namely adjuvants that boost the immune response of the body through the active ingredients present in vaccines.In vaccines, it is used as an oil-in-water emulsion form, coupled with adjuvants and stimulants of the immune system.
It plays the role of surfactant, thus increasing the response of the vaccines. As per the World Health Organization (WHO), a large number of COVID-19 vaccines were developed using squalene, which, in turn, has contributed to its demand growth in the short term.
Europe is the most attractive market for squalene, with France, Germany, and the U.K. accounting majority of the chemical’s consumption. In the U.K., the olive oil-based squalene segment is growing at a lucrative rate owing to the growing demand from several end-use industries, such as personal care and cosmetics, pharmaceuticals, and functional foods. A ban on shark oil-based squalene has encouraged European manufacturers to shift towards plant-based alternatives, such as amaranth oil, olive oil, rice bran oil, and others.
The raw material sources for manufacturing squalene mainly include animal oils, plant oils, and synthetic materials.Animal oils are mainly extracted from the livers of a shark while major plant-based oils include amaranth, olive, and rice bran.
The market is regulated by stringent laws related to deep-sea fishing, especially poaching, as many of these animals are on the verge of extinction. Such conservational efforts have materialized into a regulatory ban on shark liver-derived squalene.
Although plant-based and synthetic substitutes available in the market are expensive, difficult to extract, and have higher operational costs, there has been a consistent effort in the industry to bring down the cost of inputs, increase yield levels, and market plant-based squalene at competitive prices to its animal-derived counterparts.
Europe Squalene Market Report Highlights
• In 2020, personal care and cosmetics emerged as the largest end-use segment and accounted for more than 70.0% share of the regional revenue. Several functional attributes of squalene such as translucid, the absence of toxicity, moisturizing properties, low odor, and sensorial properties are making it one of the preferred emollients in cosmetic applications
• The pharmaceuticals end-use segment is poised to register the fastest CAGR of 10.8% in terms of revenue, over the forecast period, owing to the increasing demand for the product in over-the-counter medications, numerous health supplements, and vaccines. Its usage in the development and manufacturing of covid-19 vaccines all over the world is also a key factor complementing market demand
• Germany’s consumption of squalene is expected to exceed 20 metric tons by 2030 owing to the growing demand for plant-based squalene for the production of personal care and cosmetic products
• The market is fragmented and highly competitive. Manufacturers are largely integrated along the value chain, in their efforts to maintain production costs at viable levels
• Key manufacturers are focused on developing plant-based alternative sources to extract squalene to decrease the dependency on shark liver
Read the full report: https://www.reportlinker.com/p06134854/?utm_source=GNW
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