Company News, Marketing News

Squalene Market Size Positioned to Grow by $64.75 Million by 2027

Increasing acceptance of UVA/B filters in sunscreens and sun protection cosmetics boost the market, per Technavio.

As consumers prioritize sun safety, there is a corresponding increase in the adoption of squalene-infused products.

Manufacturers of sunscreen and sun protection cosmetics are ramping up production to meet the surging demand. 
Research underscores the importance of daily sunscreen use in preventing skin cancer. Studies reveal that individuals who incorporate sunscreen into their daily skincare routine experience a 24% decrease in skin cancer incidence. This compelling evidence has propelled the demand for sunscreen products, thereby driving the growth of the global squalene market, according to analysts. 
According to market research firm Technavio, the global squalene market size is estimated to grow by $64.75 million from 2023-2027. 
The market is estimated to grow at a CAGR of over 7.36% during the forecast period. With the ozone layer facing depletion, concerns over UV exposure have reached an all-time high. The consequences of heightened UV exposure are grave, ranging from skin cancer to cataracts.

Squalene’s Shielding Power

In the US alone, skin cancer diagnoses are alarmingly common, with approximately 9,500 cases reported daily. To combat these risks, dermatologists advocate for the regular use of sunscreen, preferably with SPF 30 or higher.
Squalene, a key ingredient in sun protection products, plays what analysts call a pivotal role in boosting UV protection, shielding the skin from sunburn and damage. Its inclusion in sunscreen formulas not only enhances effectiveness but addresses growing consumer concerns about sun safety.
The squalene market encompasses various derivatives, including creams, serums, oils, and masks, used extensively in the personal care and cosmetics sector for their emollient properties. Squalene, a natural hydrocarbon, is sourced from both animal-sourced (shark liver oil) and plant-based (olives, vegetable-sourced) sources. Animal-sourced squalene has raised concerns due to potential impacts on shark populations. In contrast, plant-based squalene is a sustainable alternative, gaining popularity among consumers. 
Squalene functions as an “excellent” emollient, analysts say, protecting the skin from free radicals and contributing to anti-aging products. Nutraceutical firms also explore squalene's potential benefits in tobacco crops and terpene oils. Amaranth oil and rice bran oil are among the plant-based sources of squalene, offering a more ethical and eco-friendlier alternative to Animal-sourced squalene. The Marine Mammal Protection Act regulates the use of shark liver oil, ensuring its sustainable sourcing.

Related Reading

Keep up with the story. Subscribe to the Happi free daily

Related Breaking News