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One of the major factors driving this market is its increased consumption in cosmetics. There is a steady rise in the cosmetics industry in developing countries such as China and India. Increasing disposable income and influence of western lifestyle are two factors responsible for the rapidly growing cosmetics industry in this region. In addition, cosmetic manufacturers are introducing a wide range of anti-ageing creams, which is further boosting the cosmetic market among middle-aged women.
One of the primary restraints for squalene market is the depleting population of sharks. Deep-sharks contain more than 80% of squalene in their liver oil and the liver accounts for almost one-third of the weight of sharks. They are usually found between depths of 1,000 to 2,000 meters, which makes it easy to hunt them. This has resulted in endangerment of some of the species of sharks. Environmental agencies have been making tremendous efforts in creating awareness among consumers about the ill-effects on massive shark-hunting and in addition, trying to bring a ban on shark-hunting.
Manufacturers are exploring the benefits of squalene in the field of medicines as vaccines and ointments and this is expected to be a good future market for the product. With the recent research activities, squalene is gaining market in the fields of cosmeceuticals. In addition, with the growing awareness of benefits of squalene in cosmetics, there is a high demand of high-end products in the global market. There is a growing opportunity for plant-derived squalene. Although, squalene is not widely found in plants, there is a relatively high quantity of squalene in plants such as olives.
Some of the leading manufacturers of squalene include Sophim, Croda International Plc, CarboMer, Inc., MacroCare Tech Ltd., Xi'an Olin Biological Technology Co., Ltd. and Sigma-Aldrich Corp. among others.
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