Squalene Market To Reach $307.9 Million By 2030 | CAGR: 10.9%

Squalene Market Growth & Trends

The global squalene market size is expected to reach USD 307.9 million by 2030, expanding at a CAGR of 10.9% from 2024 to 2030, as per the new report by Grand View Research, Inc. The industry is majorly driven by rising health awareness among the masses and continuously rising demand for squalene in personal care and cosmetics. Squalene acts as an emollient and provides nourishment to the skin. Moreover, it finds application in pharmaceuticals due to its ability to act as an anti-cancer and anti-oxidant agent.

Squalene is now largely produced from plants. It can be obtained from vegan sources such as sugarcane, rice bran, wheat germ, palm trees, and olives, with olives being the most popular. Although many businesses prefer squalene derived from plants, there is still a possibility that it comes from animals. The demand for the product from shark liver oil is still in the market because of its low cost. In the cosmetics industry, products such as perfumes, lotions, eyeliners, and eye shadows, contain squalene in the range of 0.1% to 10%, whereas other products such as foundations and lipsticks contain 50% of the product.

The usage of synthetic and plant-based squalene has been motivated by the growing concerns over the extinction of sharks. To create squalene from plants or synthetic processing, manufacturers are engaged in research & development. A supplier of natural component products for the cosmetics market, Sophim, invested USD 11.94 million to increase its production capacity. Two-thirds of the company's investment is to be made in Spain, where a production facility is planned to be built to treble the amount of squalene that can be extracted from olive oil.

With their antioxidant and anti-aging characteristics, squalene supplements can restore our skin, maintain cholesterol levels, and help in treating inflammation. They provide cells with the oxygen they require for proper metabolism and energy production at the cellular level. These supplements are also known to combat viruses, colds, and infections, thus improving overall health and well-being. With the onset of the COVID-19 pandemic, people have become more conscious about their health and immunity, thus increasing the demand for squalene in the pharmaceutical industry.

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Squalene Market Report Highlights

• Rising usage of natural chemical-free ingredients in personal care and cosmetics and increased awareness regarding the benefits of squalene for health and body are driving the market

• Europe dominated the market with a revenue share of over 32.8% in 2023, followed by Asia Pacific region.

• The plant segment dominated the market with a revenue share of over 82.3% in 2023. This is attributed to the declining population of sharks, increasing awareness among people regarding animal welfare and protection, and regulatory frameworks imposed by various governments for the protection of marine animals.

• The personal care and cosmetics segment dominated the market with a revenue share of over 70.1% in 2023.

• In the pharmaceutical industry, squalene is widely used for various vaccine and drug delivery emulsions owing to its biocompatibility and stability-enhancing effects. In vaccines, it is used as an oil-in-water emulsion form, coupled with some adjuvants and stimulants of the immune system

• Companies are involved in strategic initiatives such as mergers and new product launches to maintain their market position

Squalene Market Segmentation

Grand View Research has segmented the global squalene market report based on source, end-use, and region:

Squalene Source Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Animal

  • Shark Liver Oil

  • Other Animals

• Plants

  • Amaranth Oil

  • Olive Oil

  • Rice Bran Oil Plants

  • Other Amaranth Oil

  • Synthetic

Squalene End-use Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Pharmaceuticals

• Personal Care & Cosmetics

• Nutraceuticals

• Food & Beverages

• Others

Squalene Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Russia

  • Benelux

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Thailand

  • Indonesia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players of Squalene Market

• Amyris, Inc.

• Sophim SAS

• Henry Lamotte Oils GmbH

• efpbiotek

• Vestan Limited

• Kuraray Co., Ltd.

• Croda International Plc

• AASHA BIOCHEM

• Arbee

• Oleicfat, s.l.

• Kishimoto Special Liver Oil Co., Ltd.