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Report Overview
The global squalene market is expected to reach a value of more than USD 171.51 Million in 2023. The industry is expected to grow at a CAGR of 6.80% during the forecast period of 2024-2032. The growing demand for natural and sustainable skincare ingredients is driving the squalene market, as consumers increasingly prefer plant-based sources for cosmetic formulations, thus aiding the market to attain a valuation of USD 310.05 Million by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The post-pandemic surge in beauty product demand, especially from 2021 to 2022, has enhanced the need for squalene. L'Oréal's 8% growth indicates increased interest in clean, sustainable skincare, which directly boosts squalene demand, known for its moisturizing properties. Consumers are increasingly seeking natural, non-toxic ingredients, and squalene, a plant-derived oil, meets these preferences, propelling growth in the squalene market.
- The global recovery of the beauty sector is reflected in the sustained positive growth in 2023, with another 8% increase. More consumers are now focusing on ethical and eco-friendly products, which means companies are looking to sustainable ingredients such as squalene to meet demand. This growth cycle makes squalene a key player in the expanding beauty industry, especially for consumers demanding cleaner and more effective formulations.
- These steady increases underpin a resilient beauty market, being driven by consumer preference in the direction of natural goods. The global move toward cleaning up beauty products has added squalene to the scope of skincare routines and thus established a steady demand. The more a company innovates in beauty technology, it is likely to further spread the role of squalene.
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 squalene market.
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.
Squalene Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 171.51 Million.
The squalene market is assessed to grow at a CAGR of 6.80% between 2024 and 2032.
The major drivers of the market include the proliferating use of squalene in the pharmaceutical and food supplements market, escalating disposable incomes, rising demand for natural and organic ingredients, attractive packaging options, and the increased focus on appearance and grooming.
The growing demand for squalene in various industries, particularly cosmetics and the growing awareness about detoxifying, hydrating, and emollient properties of the product are the key trends of the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The market is categorised according to the source, which includes Shark liver, vegetable, and biosynthetic.
Based on the application, the market is divided into cosmetics, food, and pharmaceuticals, among others.
The market key players are Amyris, Inc., Empresa Figueirense de Pesca, Lda, Arbee Bio Marine Extracts Pvt Ltd, Sophim, Nucelis, and Gracefruit Limited., among others.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 310.05 Million by 2032.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124