Global Squalene Market Report and Forecast 2024-2032

Global Squalene Market Size

The global squalene market value reached about USD 171.51 million in 2023. The industry is further expected to grow at a CAGR of about 6.8% in the forecast period of 2024-2032 to reach a value of around USD 310.65 million by 2032.

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Global Squalene Market Growth

The squalene industry growth is being driven by the growing demand for squalene in various industries, particularly cosmetics. The escalating use of squalene as a moisturiser is enhancing the industry's growth. The growing awareness about detoxifying, hydrating, and emollient properties of the product, coupled with its several health benefits, such as rejuvenation of white blood cells, stimulation of the immune system, and others, is favouring the growth of the industry.

Furthermore, the proliferating use of squalene in the pharmaceuticals and food supplements industry is aiding the market growth. Squalene is immensely used in the pharmaceutical industry as it reduces carcinogen and cholesterol levels and helps in the treatment of cancer and cardiovascular diseases. Other factors like rapid urbanisation and escalating disposable incomes are driving the sales of cosmetics and health supplements, which, in turn, is also aiding squalene demand growth.

Global Squalene Market Analysis

Squalene demand forecast is increasing due to the proliferating demand for natural and organic ingredients and attractive packaging options by major industry players are expected to further trigger the market growth.

Global Squalene Industry Outlook

As per Loreal, the years 2021 and 2022 marked significant jumps with an 8% growth rate each year, indicating a strong post-pandemic recovery and heightened demand for beauty products. The positive trend sustained through 2023, with the market again expanding by 8%. These figures determine the resilience and continual expansion of the global beauty market over the past two decades, driven by evolving consumer preferences and advancements in beauty technology.

Further, as per industry reports, the global pharmaceutical market demonstrated significant regional contributions, with North America leading at 52.3% of total sales, reflecting the region's dominance in pharmaceutical innovation and consumer demand. Europe accounted for 22.4%, highlighting its strong regulatory framework and robust healthcare systems. China captured 8.1% of the market, showcasing rapid growth and increased investment in healthcare infrastructure. The combined region of Africa, Asia (excluding China), and Australia contributed 8.3%, indicating the emerging market potential and expanding healthcare access. Japan, with 4.9%, and Latin America, at 4.1%, further emphasised the global spread and diverse growth avenues within the pharmaceutical sector, thus boosting the squalene industry revenue.

Further, by 2030, the growth of the squalene market will see a significant increase in potential consumers, with projections indicating an addition of 600 million middle- and upper-middle-class consumers across various regions. North America is set to add 20 million new consumers, increasing its total to 320 million. Europe will experience an even larger growth, with an additional 40 million consumers, reaching a total of 615 million. Latin America is expected to see an increase of 35 million, bringing its total to 245 million. Sub-Saharan Africa (SSA) will add 25 million new consumers, totalling 85 million by 2030.

Squalene is extensively utilized in skincare and pharmaceutical products due to its superior emollient and antioxidant properties, driving significant squalene market demand.

• The increasing supply from sustainable plant-based sources like olives and sugarcane attracts eco-conscious consumers and manufacturers.

• Known for its health benefits, such as boosting immunity and lowering cholesterol, squalene is becoming increasingly popular in nutraceuticals and dietary supplements.

The extraction and purification processes, particularly from plant sources, are costly, resulting in higher product prices and limiting market expansion.

• Despite its benefits, squalene remains relatively unknown to consumers, restricting its market size and application potential.

• Strict regulations and approval procedures in various regions can delay product launches and increase compliance costs for producers.

The squalene market opportunities are driven by growing consumer preference for natural and organic ingredients in personal care and health products.

• Rapid urbanization and rising disposable incomes in developing economies provide promising opportunities for market expansion.

• Continued research and development can lead to new uses and formulations in cosmetics, pharmaceuticals, and dietary supplements, expanding the market’s scope.

The presence of synthetic alternatives that are cheaper to produce can threaten the natural squalene market.

• Reliance on specific natural sources, such as shark liver oil (though decreasing) and the climatic conditions for plant sources, can cause supply chain disruptions.

• Economic recessions can reduce consumer spending on luxury items like high-end cosmetics and health supplements, adversely affecting the growth of the squalene market.

Key Players in the Global Squalene Market and their Key Initiatives

Amyris, Inc.

• Introduced sustainable, sugarcane-derived squalene, enhancing eco-friendly production processes. 

• Partnered with major cosmetic brands to expand the global reach of sustainable squalene products to meet the demand of the squalene market.

Empresa Figueirense de Pesca, Lda

• Enhanced eco-friendly practices and reduced environmental impact in squalene production.

• Diversifying product offerings and catering to the growing demand for vegan and cruelty-free alternatives.

Sophim

• Introduced a sustainable, plant-based squalene production method in order to improve its position in the squalene industry.

• Expanded its squalene product line, targeting increased market share in natural skincare and pharmaceutical applications.

Nucelis

• Launched sustainable, bio-based squalene production using advanced fermentation technology.

• Partnered with global cosmetics brands to supply high purity squalene.

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Global Squalene Industry Segmentation

“Global Squalene Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Source

• Shark Liver

• Vegetable

• Biosynthetic

Market Breakup by Application

• Cosmetics

• Food

• Pharmaceuticals

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Squalene Market Share

Based on application, the cosmetics segment dominates the global squalene industry and is slated to witness substantial growth in the forecast period. This growth can be attributed to the rising demand for anti-ageing or rejuvenating creams, particularly among women. The increasing demand for squalene in products for skin care and hair care is significantly contributing to the squalene market revenue.

Moreover, the several health benefits of the product are likely to spur market growth. It has antibacterial and antioxidant properties prevents skin damage and promotes cell growth at the same time. Additionally, the proliferating investments by the major players are also expected to propel the overall growth of the squalene industry.

Leading Companies in the Squalene Market

The company specialises in creating and producing sustainable products through bioengineering. It employs advanced synthetic biology techniques to develop eco-friendly alternatives to petroleum-based products.

• Amyris, Inc. 

• Empresa Figueirense de Pesca, Lda, 

• Arbee Bio Marine Extracts Pvt Ltd 

• Sophim 

• Nucelis 

• Gracefruit Limited.

Key Highlights of the Report

Squalene Market Report Snapshots

Squalene Market Size

Squalene Market Growth

Squalene Market Analysis

Squalene Market Share

Squalene Companies