Europe Animal Sourced Squalene Market

The size of the Europe Animal Sourced Squalene Market is predicted to grow at a prominent CAGR from 2022 to 2027.

The European market for squalene is expected to be driven by the rise of the cosmetics and pharmaceuticals market and increased awareness of the benefits of squalene on human health. During the forecast period, one of the primary factors is predicted to drive the market for squalene is increased R&D in oncology and increased spending on oncology drugs.

Squalene has tremendous demand in cosmetics across Europe, owing to increased consumer awareness of the importance of utilizing high-quality goods and a willingness to pay a premium for them. Another factor contributing to the growth of the squalene market in the skincare sector is a growing awareness of the dangers of sun exposure.

However, the lack of qualified specialists for training in rural places and rigorous government requirements are limiting factors in the European market's expansion. Furthermore, suitable food supplements and nutrition are insufficient to meet the needs of the underprivileged and destitute in remote places.

This research report on the European animal-sourced squalene market has been segmented and sub-segmented into the following categories.

By Application:

• Cosmetics
  • Skin Care
  • Hair Care
  • Fragrance
• Food Supplements
• Healthcare
  • Cancer Treatment
  • Heart Disease
  • Skin Health

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, Europe had the second greatest share in the global market in 2020, and the pharmaceutical sector is likely to be a major driver of squalene market growth in Europe during the forecast period. Squalene's most appealing market is Europe, with France, Germany, and the United Kingdom accounting for most of the chemical's usage. Due to increased demand from regional markets, olive oil-based squalene is expanding at a profitable rate in the United Kingdom.

Furthermore, the European Union has outlawed the use of shark oil-based squalene in cosmetics, forcing firms to focus on finding viable substitutes for the substance. Concerns over shark extinction have spurred the usage of squalene derived from plants and synthetically created squalene.

Personal care and cosmetics, medications, and functional foods are popular in countries like Germany and the United Kingdom. Squalene derived from shark oil has been banned in Europe, prompting manufacturers to switch to plant-based substitutes such amaranth oil, olive oil, rice bran oil, and others.

KEY MARKET PLAYERS:

Companies such as Empressa Figueirrense de Pesca, Arista Industries Inc., Gracefruit Limited, Amyris Inc., Croda International PLC, New Zealand Green Health Ltd., Kishimoto Special Liver Oil Co. Ltd., Maruha Nichiro Corporation, Seadragon Marine Oils Limited, Arista Industries Inc. are predicted to lead the market during the forecast period.