Squalene is a naturally occurring compound found in various plant and animal sources, and it has gained significant attention in recent years due to its beneficial properties in skincare, food, and pharmaceutical applications. This organic compound is commonly used in cosmetic formulations because of its ability to moisturize, protect, and nourish the skin. In addition, squalene is being increasingly sought after due to the growing trend toward sustainable and natural ingredients in various industries. The squalene market is expected to grow substantially, reaching a value of USD 183.17 million by 2024, and is projected to continue its growth with a CAGR of 6.80% from 2025 to 2034, ultimately reaching a market value of USD 353.64 million by 2034.

Squalene Market Size

The squalene market size has experienced remarkable growth in recent years and is expected to continue this upward trajectory. As of 2024, the market is anticipated to be valued at USD 183.17 million. The increasing demand for sustainable and natural skincare ingredients plays a pivotal role in this growth. With rising consumer awareness regarding the benefits of plant-based and eco-friendly products, squalene's popularity, especially in the cosmetic industry, is on the rise. This growing demand is expected to contribute significantly to the market’s expansion, eventually leading to a projected market valuation of USD 353.64 million by 2034.

Squalene Market Trends

Several key trends are shaping the squalene market. One of the most prominent trends is the growing consumer preference for natural and plant-based ingredients, particularly in the skincare industry. The demand for vegan and cruelty-free cosmetics has driven companies to seek plant-based alternatives for traditional ingredients. As a result, squalene sourced from plants like olives, sugarcane, and rice bran has become highly sought after. Moreover, advancements in biosynthetic production methods have made it possible to produce sustainable squalene without relying on shark liver, which has previously been a controversial source. These trends reflect the increasing alignment of the industry with eco-conscious consumer demands.

Squalene Market Opportunities and Challenges

The squalene market presents significant opportunities, particularly with the growing emphasis on sustainability. As consumers shift toward eco-friendly and natural products, there is a growing demand for plant-based squalene, which offers companies an opportunity to cater to the expanding market for organic and sustainable ingredients. Additionally, the rise in awareness of the benefits of squalene in skincare, pharmaceuticals, and food products provides opportunities for innovation in product development.

However, the market also faces challenges. One of the major concerns is the limited availability of plant-based sources of squalene, which could hinder production. Furthermore, the higher production costs associated with plant-based and biosynthetic squalene compared to shark liver-derived squalene could pose challenges in terms of pricing and market penetration. Regulatory challenges and the need for sustainable sourcing also create hurdles for manufacturers in the squalene industry.

Squalene Market Segmentation

The squalene market is segmented based on the source, application, and region. Understanding these segments helps businesses and investors pinpoint lucrative opportunities within the industry.

Get a Free Sample Report with Table of Contents

Breakup by Source:

1. Shark Liver: Traditionally, squalene was primarily sourced from shark liver oil. While this source is still used, concerns over overfishing and sustainability have led to the development of alternative sources.
2. Vegetable: Vegetable-based squalene, derived from sources like olives, sugarcane, and rice bran, has become increasingly popular due to the growing demand for natural and sustainable ingredients.
3. Biosynthetic: Advances in biosynthetic production have made it possible to produce squalene without relying on animal sources, addressing ethical and environmental concerns associated with shark-derived squalene.

Breakup by Application:

1. Cosmetics: The cosmetic application of squalene remains the largest segment, where it is used in skincare products such as moisturizers, serums, and anti-aging formulations.
2. Food: Squalene is increasingly being incorporated into dietary supplements and functional foods due to its potential health benefits, including its antioxidant and anti-inflammatory properties.
3. Pharmaceuticals: The pharmaceutical industry uses squalene in drug formulations, particularly in vaccines, where it acts as an adjuvant to enhance the body’s immune response.
4. Others: Squalene also finds application in other sectors like animal feed and lubricants.

Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Squalene Market Growth

The growth of the squalene market can be attributed to several factors, including the rising consumer demand for natural, organic, and eco-friendly products. This demand is particularly strong in the cosmetic industry, where squalene is valued for its moisturizing, anti-aging, and skin-healing properties. Additionally, the growing use of squalene in pharmaceuticals, particularly in vaccine production, is expected to contribute significantly to market growth. The development of sustainable and biosynthetic production methods will also drive growth, allowing the market to meet the increasing demand for plant-based squalene.

Squalene Market Forecast

The forecast for the squalene market looks promising, with an expected growth rate of 6.80% CAGR during the forecast period of 2025-2034. By 2034, the market is projected to reach a valuation of USD 353.64 million. The increasing consumer preference for natural and plant-based products, combined with advancements in biosynthetic production techniques, will continue to drive the market's growth. Additionally, the pharmaceutical and food industries' expanding use of squalene will further fuel market demand.

Squalene Competitor Analysis

The squalene market is highly competitive, with several key players contributing to its growth. Companies are focusing on developing innovative, sustainable solutions to cater to the rising demand for eco-friendly and natural squalene.

Key Players in the Squalene Market:

1. Amyris, Inc.: A leader in the biosynthetic production of squalene, Amyris focuses on sustainable and eco-friendly solutions.
2. Empresa Figueirense de Pesca, Lda: A company known for producing high-quality squalene sourced from shark liver.
3. Arbee Bio Marine Extracts Pvt Ltd: Specializes in marine-based squalene and focuses on sustainability.
4. Sophim: A major player in the cosmetic and pharmaceutical sectors, offering plant-based squalene from olives and other vegetables.
5. Nucelis: Known for its innovation in biosynthetic production methods, Nucelis produces sustainable squalene.
6. Gracefruit Limited: A supplier of high-quality squalene for use in cosmetics and other applications.