The squalene market size is projected to reach USD 184 million by 2025 from USD 129 million in 2020, at a CAGR of 7.3%. Rising demand from cosmetics, food, and pharmaceuticals industry is expected to support the growth of the squalene market. However, skepticism over shark fishing is restraining the growth of the market. On the other hand, the availability of new renewable sources for the production of squalene has created opportunities for manufacturers.
Kishimoto Special Liver Oil Co. Ltd. (Japan), Sophim (France), Amyris (US), Arbee Biomarine Extracts Pvt. Ltd. (India) and Ekiz Olive Oil & Soap Inc. (Turkey) are the major players in this market.
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Amyris (US) is one of the leading producers of squalene. The company actively invests in R&D for creating innovative solutions for the production of squalane from more sustainable feedstock. For instance, it is the only company to produce squalane from sugarcane, which has turned into a major threat for its competitors. The company gives major emphasis on its farnesene molecule for the development of renewable squalane.
- In February 2018, the company launched sugar cane derived squalane mainly for pharmaceutical application. This product is FDA regulated and launched by a joint venture of Amyris and NIKKOL.
- Recently, in February 2018, Amyris has announced the availability of its consumer beauty brand Biossance at the various locations across Canada. This product expansion helped the company to capture market share in Canada.
Kishimoto Special Liver Oil Co. Ltd. (Japan) is a leading player in this market. The company invests vigorously in R&D for new technologies and innovations in product development. The company aims to expand its presence in the APAC region by targeting the market where the demand for the squalene is high.
Sophim (US) is also a leading producer focuses on integrating factory with modern equipment, which allows optimal solutions of high value. For instance, the company awarded Prix Pierre Potier for Green Chemistry and Sustainable Development for using techniques such as esterification, distillation, and hydrogenation. The company invests heavily in R&D to develop innovative products. For example, the company offer oil-free 100% vegetable products such as insapolive and biophytosebum through extensive R&D. This makes Sophim one of the leading players in the squalene market.
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