Squalene is a natural fatty hydrocarbon in liquid form. It is found in animals and plants. Squalene is normally found in shark liver oil. The liver of a shark makes up for one-third of its mass. Traditionally, squalene was derived only from shark liver oil, but now it is derived from sources of plants. Principally, it is used in various cosmetic products. Moreover, it is also used in vaccines and health foods and as a good quality lubricant for machines.
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Increased demand for the squalene market owes to growing demand for squalene in cosmetics. The cosmetics market has been expanding stably in emergent nations, like India and China. Growing disposable earnings and people getting influenced by western culture are the two components which drive the cosmetics market in Asia Pacific. Moreover, makers of cosmetics are bringing forth various creams in order to cater to people’s aesthetic requirements.
Increased demand for cosmetics in this manner drives further demand for the squalene market. One of the primary hindrances for the squalene market is the reduced shark population. Sharks are hunted on a large scale for squalene. This has decreased their number in seas and oceans. Various ecological organizations have been attempting to generate consciousness regarding harms of shark hunting. The squalene market is predicted to climb to around USD 177 million by 2019.
It is anticipated to rise at about 10 percent CAGR in the coming five years. High demand for the squalene market also owes to increased demand for squalene from various consumer industries. These include pharmaceuticals, cosmetics, food, and so on.
Information Source: Grand View Research