Squalene Industry Overview

The global squalene market size was estimated at USD 149.4 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2030.

Increasing consumption of natural ingredients in the personal care and cosmetics sector is expected to emerge as a major factor driving the market demand. Squalene is translucid, emits a low odor, and offers moisturizing properties. These qualities make it one of the most preferred emollients in the world. Absence of toxicity, makes it one of the most widely used elements in personal care applications. Squalene oil is also utilized in the cosmetics industry to fight free radicals that damage the skin and accelerate the aging process.

Gather more insights about the market drivers, restrains and growth of the Squalene Market

The product is used as a moisturizing and cleansing ingredient in cosmetic and personal care products such as lotions, hair conditioners, bath oils, lipsticks, creams, and foundations. Furthermore, surge in demand for natural and organic ingredients is expected to have a positive impact on the market.

Another factor that fuels market expansion is the rising demand for products in several vaccines. It is a vital component of vaccinations including the COVID-19 vaccines as it is extremely effective in boosting immune response.

Squalene product, used in vaccines and pharmaceutical products is a purified version of fish oil, which is extracted from sharks. A report published by the International Trade of Endangered Species states that five shark species are in danger of extinction. This is anticipated to significantly reduce animal-based products and further drive plant- and synthetic-based sources.

The squalene industry also benefited from rising interest in nutritional supplements, expansion of the cosmetics sector, and prevalence of cancer and cardiovascular disorders. New renewable sources for product manufacturing along with appealing marketing and packaging techniques give market participants additional lucrative opportunities.

The U.S. is the largest producer and consumer of the product in North America. The market is expected to grow significantly over the forecast period owing to growth of the cosmetics industry in the country. The growth can be attributed to a high penetration rate of global cosmetic brands and an increase in demand for beauty care products and beauty clinics owing to the expanding working women population in the country.

The product is mainly extracted from shark liver oil and olive oil. Olive oil is a major source of extraction in the U.S. owing to restrictions imposed on poaching of marine animals under Marine Mammal Protection Act Policies (MMPA) that prohibit the take of marine mammals, including hunting, collecting, capturing, harassing, or killing them in waters and by citizens of U.S. on the high seas.

The act also makes it unlawful to import marine mammals and items derived from marine mammals into the country without necessary permits. This could lead to an increase in the use of plant-based or synthetically manufactured products over animal-based in the U.S. in coming years.

Browse through Grand View Research's Food Additives Nutricosmetics Industry Research Reports.

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Global Squalene Market Report Segmentation

This report forecasts volume revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global squalene market report based on source, end-use, and region.

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

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

• Pharmaceuticals
• Personal Care Cosmetics
• Nutraceuticals
• Food Beverages
• Others

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

• North America
  • US
  • 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

Key Companies Market Share Insights

The market is fragmented and competitive with presence of several players. Major players are clustered in European and North American regions, whereas several small players are clustered in Asia Pacific, mainly in India, China, and Japan, as the region offers easy access to shark liver oil and olive oil, which are essential raw materials for production of the product.

Partnership strategies have been adopted by the leading players in the market to enhance the reach of their products by leveraging the networks of acquired players and geographic availability. For instance, in May 2023 Amyris announced its partnership with Croda International Plc. in order to supply pharmaceutical-grade squalene in adjuvants to boost the immune response:

• 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.

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