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Squalane is an oil-free, high end moisturizing agent used in various personal care products, especially cosmetics. It is also employed in the manufacture of vaccines. Squalane has been traditionally extracted from the liver of deep-water sharks. About a ton of squalane is produced from the livers of approximately 3,000 sharks. In line with this requirement, approximately 6 million deep-water sharks are killed a year in order to fulfil the global demand for nearly 2,500 tons of squalane per annum.

Squalane market: Drivers and Restraints

Changing lifestyles of people, adoption of personal care products, and increasing penetration of FMCG products are some of the factors driving the demand for personal care products, especially in Asia Pacific. Squalane is an important ingredient of most personal care products. Therefore, growth in the personal care industry is expected to be the primary factor boosting the squalane market. However, sea shark harvesting is now forbidden in most parts of the world due to some civil society campaigns. This is anticipated to hamper the manufacture of squalane, since shark liver is the second largest source of squalane (after olive oil). Furthermore, consumer awareness about the use of shark liver squalane has adversely affected the demand for squalane. Additionally, commercial application of squalane is restrained by price volatility owing to the inconsistent supply. These factors are projected to hamper the squalane market during the forecast period. Refining of squalane from olive oil has proved to be a commercially viable alternative to shark liver squalane. Companies such as Unilever and L’Oreal have declared the removal of shark liver squalane from their cosmetic products in approval of plant-based sources.

Squalane Market: Segmentation

Based on source, the squalane market can be segmented into:

  • Olive Oil
  • Shark Liver
  • Sugarcane (Sugar-based)

Olive oil based squalane was the dominant segment of the squalane market in 2015. It was followed by the shark liver segment in the same year. Companies such as Amyris have developed sugar based squalane. This is likely to create lucrative opportunities in the squalane market in the near future. Considering the composition, olive oil from the first extraction holds approximately 400mg to 450mg of squalane per 100g, while refined olive oil holds about 25% less squalane. The finest quality olive oil may contain concentrations of nearly 700 mg of squalane per 100g.

Squalane Market: Segmentation

Based on application, the squalane market can be segmented into:

  • Personal Care
  • Food
  • Pharmaceutical

Squalane acts as a lubricating agent in the manufacture of skin care products; it helps provide smooth and soft appearance to the skin. Squalane is also used in hair conditioning products.   

Squalane Market: Region-wise outlook

Based on geography, the global squalane market can be segregated into North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to be a highly attractive region for the squalane market during the forecast period. The region accounts for major share of the global personal care industry, due to rapid urbanization, increasing awareness about health and hygiene among consumers, population growth, and improved per capita expenditure. Consumers of personal care products in South Korea follow their multiple step daily skin care routine, while consumers in China opt for single step products supplemented by sheet masks, twice a day. Usage of scalp freshener products such as live in shampoos and conditioners is prevalent in countries such as Indonesia and Malaysia.

Squalane Market: Key Players

Key players operating in the squalane market include:

  • Amyris
  • Kishimoto Special Liver Oil
  • Sophim
  • SeaDragon Marine Oil Ltd.
  • Nucelis
  • Maruha Nichiro Corp.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Squalane Market

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