Squalene Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the squalene market was valued at USD 139.8 million in 2022, and a CAGR of 7.1% is expected during the forecast period. Squalene is primarily used in cosmetics, pharmaceuticals, and health supplements. Squalene is a natural compound source from plants like olives or shark liver oil, with increasing demand due to its antioxidant and moisturizing properties. There is a growing trend towards sustainability and cruelty-free sourcing methods, leading to plant-derived squalene products.

Increasing demand for skincare products in the market is significantly driving growth in the market. Increasing demand for cosmetic products is also a key reason behind significant growth in the market.

Growth Drivers

Increasing demand in the cosmetics industry for its anti-moisturizing and anti-aging properties is driving significant growth in the market. Rising health awareness and increasing skincare are the key factors behind the growth of the market. Squalene is believed to have various health benefits, including immune support and cholesterol regulation, further fueling its market growth. Due to its adjuvant properties, squalene is highly demanded in the pharmaceutical industry. It enhances the effectiveness of vaccines in development. Concerns about environmental sustainability and animal welfare have led to a preference for plant-derived squalene over traditional ones like shark liver oil.

The shift towards sustainable sourcing methods is driving the growth of the market significantly. Its anti-oxidant properties make it the most sought-after product in skincare and dietary supplements. As consumers become more aware of healthy and youthful skin, the demand for squalene is expected to increase. North America, especially the United States of America, is another leading segment due to the well-established cosmetics and personal care industries. North America is home to a significant number of key players in the pharmaceutical and cosmetics industries, which utilize squalene in various medical applications. The region’s focus on sustainability and natural ingredients also contributes to the growing popularity of squalene sourced from renewable sources like olive. The Middle East and Latin America are also experiencing significant growth during the forecast period.

Segmentation

Source

·         Vegetable

·         Animal

·         Bio-Synthetic

End-User

·         Cosmetics

·         Food

·         Pharmaceuticals

·         Others

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Squalene Market Source Segmentation

On the basis of the source, the squalene market is segmented into vegetables, animals, and biosynthetic. Vegetables are the leading segment in the squalene market, as vegetable-driven squalene is considered more sustainable, ethical, and often of higher quality. Compared to sources like shark liver oil, growing concerns about marine conservation and ethical sourcing are driving growth in the market.

Rising disposable income is the most important factor that is driving significant growth in the market. Focus on sustainability and eco-friendly products are driving significant growth in the market. In the squalene market, animal-derived sources, primarily shark liver oil, are the major source due to concerns about sustainability and animal welfare. Vegetable sources have become more popular in the market. Increasing demand for squalene in cosmetics, skin care, and food products is driving growth in the market.

Squalene Market End-User Segmentation

On the basis of end-user, the squalene market is segmented into cosmetics, food, pharmaceuticals, and others. The cosmetics industry leads the squalene market because of its versatile use in skincare, haircare, and makeup products. Squalene’s moisturizing and anti-oxidant properties make it popular in anti-aging creams, serums, and sunscreens. Cosmetics usually appeal to a wide range of demographics, including those seeking natural or organic products, anti-aging solutions, and individuals with specific skincare concerns. Pharmaceuticals are another leading segment due to the increasing demand for skincare products. It is used as an adjuvant in vaccine production, and squalene enhancing the immune response is another reason behind the significant growth in the market.

Squalene’s potential health benefits, like being used as an anti-oxidant and its anti-inflammatory properties, are being explored for various medical applications, which is driving significant growth in the market. The food segment in the squalene market is gaining traction due to its potential health benefits. Squalene, sourced from natural ingredients like shark oil and olive oil, is being incorporated into functional foods. Its value for antioxidant properties and potential roles in supporting cardiovascular health, immune function, and skin health is driving growth in the market for food supplements. Rising disposable income in almost all parts of the world is driving growth in the market.

Regional Outlook

On the basis of the regions, the squalene market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Europe is the largest market in the region and is expected to grow significantly during the forecast period. Europe has stringent regulations regarding cosmetics and personal care products, which often prioritize natural and safe ingredients. Squalene, being a natural compound with proven benefits for skin health, aligns well with these regulations, leading to its widespread use in the cosmetic industry.

Europe is home to the world's famous cosmetic and skincare companies. Increasing demand for squalene in pharmaceuticals and the skincare industry is driving significant growth in the market. Squalene is prized for its moisturizing and antioxidant properties. Strong emphasis on sustainability and natural products is driving the demand for squalene in European countries like England, Russia, Sweden, Norway, Germany, France, Italy, and Spain. Asia Pacific is just second to Europe; it is home to the world’s largest producer of squalene-rich sources like shark liver oil.

The ample availability of raw materials is the key factor driving growth in the market. Increasing disposable income and changing consumer preferences are fueling the demand for the squalene market. Increasing disposable income is also responsible for changing consumers’ preferences. Further, the food industries and pharmaceuticals in Asia-Pacific are also growing significantly. The presence of key players in North America and Europe is the key reason behind significant growth in the market. Rising disposable income in almost all parts of the world is making people more health-conscious, and people are thus using skincare products and cosmetics in large quantities.

Key Players

·         Merck KGaA

·         Sophim

·         Amyris INC.

·         Kishimoto Special Liver Oil Co.

·         Arbee

·         Cibus

·         Otto Chemie Pvt. Ltd.

·         Arista Industries

·         Emprese Figuerense De Pesca

·         Other Players