A recent report examining the plant-based squalene market has revealed that in 2021, there was a 1.5% year-on-year (YoY) growth, resulting in a global market worth $82.4 million. However, significant growth is expected between 2022 and 2032, with a projected impressive compound annual growth rate (CAGR) of 8.5% for worldwide demand of plant-based squalene.
In 2021, the sales of liquid plant-based squalene increased by 1.8%, reaching $47.6 million, while the personal care and cosmetics sector exhibited even stronger demand, rising by 2.2% to attain a market value of $48.6 million.
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In the world of cosmetics, personal care products, and pharmaceuticals, sustainability and eco-consciousness have become more than just trends; they’re driving forces behind the industry’s transformation. One remarkable example of this transformation is the growth of the sustainable squalene market. As consumers become increasingly aware of the environmental and ethical impacts of their choices, plant-based squalene has emerged as a green alternative that is setting a remarkable growth trajectory.
The Rise of Sustainable Squalene
Traditionally, squalene was primarily sourced from shark liver oil. However, concerns about overfishing and the cruel practices associated with shark liver oil extraction have driven consumers and businesses to seek more ethical and sustainable alternatives. Plant-based squalene, derived from sources like olives, amaranth seeds, and sugarcane, has emerged as a compelling solution.
Environmental Impact
One of the most significant factors contributing to the growth of the sustainable squalene market is its positive environmental impact. Traditional squalene production from sharks contributes to the depletion of shark populations, disrupting marine ecosystems. In contrast, plant-based squalene is harvested from renewable plant sources, reducing the strain on marine life and ecosystems. This aligns with the growing global commitment to sustainability and biodiversity conservation.
Ethical Considerations
The ethical concerns surrounding shark liver oil extraction have sparked a consumer-driven demand for alternatives. Consumers are increasingly choosing products that align with their values, and cruelty-free, plant-based squalene fits the bill. This shift in consumer sentiment has forced brands to adapt and invest in sustainable practices, contributing to the remarkable growth of the market.
Versatile Applications
Sustainable squalene is not only eco-friendly but also highly versatile. It finds applications in various industries, including cosmetics, skincare, pharmaceuticals, and nutraceuticals. Its unique properties make it an ideal ingredient for moisturizers, serums, vaccines, and dietary supplements, giving it a broad market reach and diverse consumer appeal.
Clean Beauty Movement
The clean beauty movement, characterized by a preference for natural, non-toxic ingredients, has played a pivotal role in the rise of plant-based squalene. Consumers are increasingly scrutinizing product labels and seeking transparent information about ingredient sourcing. Plant-based squalene ticks all the boxes for clean beauty enthusiasts, contributing to its remarkable growth.
Competition Landscape
Prominent manufacturers in the plant-based squalene market include Amyris, Arista Industries, Caribbean Natural Products Inc., Charkit Chemical Company LLC, Clariant, EPF Biotek, Jedwards International, Lotioncrafter, Nucelis, Spohim, SynShark, The Ordinary, and Wilshire Technologies.
Increased investment in research and development (R&D) has expanded the range of industries that utilize squalene. For example, studies have suggested that diets enriched with squalene enhance immune system function. Furthermore, laboratory research has demonstrated that squalene improves the performance of macrophages.
Segmentation of Plant-based Squalene Industry Research
- By Form :
- Powder
- Liquid
- By Source :
- Sugarcane
- Olive Oil
- Corn
- Amaranth
- Others
- By End Use :
- Pharmaceuticals
- Personal Care & Cosmetics
- Food Supplements
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South-East Asia & Oceania
- Middle East & Africa
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Sustainable squalene’s remarkable growth trajectory is a testament to the power of consumer values and environmental consciousness in shaping industries. As consumers become more informed and demand ethical and eco-friendly products, the market for plant-based squalene continues to expand. This shift toward sustainability in the cosmetics, personal care, and pharmaceutical sectors not only benefits the environment but also underscores the potential for positive change when businesses and consumers unite in pursuit of a greener, more ethical future. As the sustainable squalene market continues to flourish, it serves as a beacon of hope and inspiration for the broader movement toward sustainable and responsible consumption.
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