Market Overview 2023-2028:
The global squalene market size reached US$ 135.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 206.5 Million by 2028, exhibiting a growth rate (CAGR) of 7.16% during 2023-2028. The growing demand for effective skin and personal care products, rising popularity of nutraceuticals and functional foods, and increasing awareness about the beneficial aspects of incorporating dietary supplements to prevent the occurrence of various chronic ailments are some of the major factors propelling the market.
Market Size in 2022
|US$ 135.7 Million
Market Forecast in 2028
|US$ 206.5 Million
|Market Growth Rate (2023-2028)
Squalene is a colorless, odorless, and non-polar compound that is highly lipophilic. It can be extracted from numerous natural sources, including shark liver oil, olive oil, amaranth seed oil, and different types of fish. It can be extracted from its natural sources using different methods, such as cold pressing or solvent extraction. It can also be synthesized in the laboratory, offering an alternative to sourcing it from natural materials. It is a precursor to the synthesis of cholesterol in the human body and helps enhance the immune response, making vaccines more effective in preventing diseases.
At present, the increasing utilization of hydrating serums and moisturizers to prevent the appearance of age spots and wrinkles is impelling the growth of the market. Besides this, the rising awareness about the beneficial aspects of incorporating dietary supplements to prevent the occurrence of various chronic ailments is contributing to the growth of the market. In addition, the growing improvement in the quality and efficacy of squalene to comply with various regulations and standards are offering a favorable market outlook. Apart from this, the increasing investment in research operations to develop various novel vaccines is supporting the growth of the market. Additionally, technological advancements in squalene extraction and purification processes are enhancing production efficiency and product quality. These innovations have not only increased the availability of squalene but have also reduced production costs, making squalene more accessible to a broader range of industries and applications.
Squalene Market Trends/Drivers:
Increasing demand for effective skin and personal care products
The escalating demand for effective skin and personal care products is currently exerting a positive influence on the market. Besides this, consumers are actively seeking skin and personal care products that offer superior hydration, anti-aging properties, and overall skin nourishment. This escalating demand is leading skincare and cosmetic companies to incorporate squalene into their formulations, further fueling the expansion of the market. Additionally, the emphasis on environment friendly and sustainable products is positioning squalene as a desirable ingredient, as it can be sourced from plant-based alternatives, reducing the reliance on shark liver oil and addressing sustainability concerns. Moreover, the rising awareness about the beneficial aspects of cosmetic products integrated with various active ingredients, such as squalene, is supporting the growth of the market. Consumers are also increasingly focusing on prevention rather than treatment. They understand that a well-rounded skincare routine can help prevent skin problems and delay the signs of aging, which is leading to heightened demand for skin care products containing squalene, known for its anti-aging properties.
Rising advancements in pharmaceutical production
The rising advancements in pharmaceutical production are propelling the demand for squalene. Besides this, the ongoing advancements in pharmaceutical manufacturing processes are leading to an increased demand for squalene as a crucial ingredient in various pharmaceutical formulations. Furthermore, the pharmaceutical industry is witnessing a paradigm shift towards more sustainable and eco-friendly practices. This is creating a significant opportunity for plant-based squalene, which can be sourced from renewable resources like sugarcane, amaranth seeds, and yeast fermentation. The ongoing research operations to optimize the production of plant-derived squalene are continually bolstering the market growth. Pharmaceutical companies are also investing heavily in vaccine production, and this rise in vaccine manufacturing is directly benefiting the market as it is a critical component in their formulations. Moreover, technological advancements in pharmaceutical production processes are enhancing the efficiency and efficacy of squalene extraction and purification methods. Cutting-edge techniques and equipment are being employed to ensure the highest quality and purity of squalene, meeting stringent pharmaceutical standards.
Growing popularity of nutraceuticals and functional foods
The growing popularity of nutraceuticals and functional foods is bolstering the growth of the market. Consumers are increasingly seeking natural and health-promoting ingredients in their dietary choices. Nutraceuticals and functional foods are designed to provide specific health benefits beyond basic nutrition. Squalene, derived from natural sources, such as shark liver oil and olive oil, is recognized for its potential health advantages, including its antioxidant and immune-boosting properties. As a result, squalene is becoming a sought-after ingredient in the formulation of nutraceutical products and functional foods. Furthermore, the ongoing research and development (R&D) efforts in the field of nutraceuticals and functional foods are continuously uncovering new potential applications for squalene. Top companies are also heavily investing in the promotion of squalene-enriched nutraceuticals and functional foods and highlighting the various health benefits associated with their consumption. They are diversifying their product offerings to cater to various consumer preferences and dietary requirements.
Squalene Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market report, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on source type, and application.
Breakup by Source Type:
Animal accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the source type. This includes animal, vegetable, and synthetic. According to the report, animal represented the largest segment.
Animal-derived squalene is a natural organic compound that can be found in various animal sources, primarily in the liver of sharks and some other deep-sea fish. It is used in cosmetics and skin care items for its moisturizing and skin-softening properties. It is also used as an adjuvant in some vaccines to enhance the immune response. Additionally, squalene is studied for its potential health benefits like antioxidant and anti-inflammatory properties. It can assist in repairing and maintaining the natural barrier function of skin. It helps to lock in hydration or moisture and prevent water loss, which is important for maintaining healthy skin. It has been used as an adjuvant in some vaccines to enhance the immune response. It helps improve the effectiveness of the vaccine by stimulating the immune system.
Breakup by Application:
Cosmetics hold the largest market share
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes cosmetics, food, pharmaceuticals, and others. According to the report, cosmetics accounted for the largest market share.
Squalene is widely used in cosmetics as it has emollient properties, which means it can help smooth and soften the skin. It can be particularly useful for dry and rough skin, providing a smooth and silky texture. It has antioxidant properties, which means it can help safeguard the skin from damage caused by free radicals and ultraviolet (UV) radiation. This can potentially reduce the signs of premature aging and protect against environmental stressors. Squalene has anti-inflammatory properties, making it beneficial for soothing irritated or sensitive skin. It can also help reduce redness and inflammation and is non-comedogenic, which means it does not clog pores or contribute to acne breakouts. This makes it suitable for various skin types, including sensitive and acne-prone skin.
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Europe leads the market, accounting for the largest squalene market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe accounted for the largest market share.
Europe held the biggest market share due to the rising awareness about the beneficial aspects of maintaining a proper skincare routine among the masses. Besides this, increasing consumer preferences for natural and sustainable ingredients is propelling the growth of the market.
Apart from this, the rising focus on the adoption of eco-friendly squalene sources, driven by the need for green and clean beauty products, is contributing to the market growth. Additionally, increasing efforts to combat infectious diseases and the development of new vaccines are strengthening the market growth.
Asia Pacific is estimated to expand further in this domain due to the rising popularity of squalene-based supplements among the masses. Moreover, the increasing investment in vaccine development initiatives is bolstering the growth of the market.
Key market players are investing in research operations to improve extraction methods and develop innovative applications for squalene in different industries. They are also increasingly looking for sustainable and eco-friendly sources of squalene, such as plant-based squalene derived from olives or amaranth seeds, to meet consumer demand for environmentally responsible products. Leading companies are investing in marketing campaigns that highlight the benefits of squalene in skincare, health, and wellness products. They are also emphasizing the quality and purity of their squalene products. Top companies are ensuring that their products meet quality and safety requirements, as well as adhering to regulatory guidelines to maintain the proper formulation of their products. They are also investing in quality control processes and certifications to ensure that their squalene products meet the highest standards.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Amyris Inc.
- Arbee Agencies
- Arista Industries Inc.
- Empresa Figueirense De Pesca Lda
- Gracefruit Limited
- Kishimoto Special Liver Oil
- Maruha Nichiro Corporation
- Nucelis Inc. (Cibus Ltd.)
- SeaDragon Marine Oils Limited
- VESTAN Squalene Hydrogenation and Purification
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
- In May 2023, Amyris Inc. announced that it signed an exclusive license agreement with Croda International Plc for the supply of sustainable squalene.
- In 2020, Nucelis Inc. announced that the United States Patent and Trademark Office granted its new patent for uplifting the vitamin D production, which is necessary for food, nutraceutical, and pharmaceutical products.
- In 2023, Sophim announced the completion of a €20 million funding round that will double the production capacity of the company at two industrial sites located in Peyruis and Almeria and double the production of plant-derived squalene.
Squalene Market Report Scope:
|Base Year of the Analysis
|Scope of the Report
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
- Source Type
|Source Types Covered
||Animal, Vegetable, Synthetic
||Cosmetics, Food, Pharmaceuticals, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Amyris Inc., Arbee Agencies, Arista Industries Inc., Empresa Figueirense De Pesca Lda, Gracefruit Limited, Kishimoto Special Liver Oil, Maruha Nichiro Corporation, Nucelis Inc. (Cibus Ltd.), SeaDragon Marine Oils Limited, Sophim, and VESTAN Squalene Hydrogenation, Purification, etc.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the squalene market from 2017-2028.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the global squalene market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the squalene industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.