Squalene Market Synopsis

Squalene Market Size Was Valued at USD 157.75 Million in 2023 and is Projected to Reach USD 266.74 Million by 2032, Growing at a CAGR of 6.01% From 2024-2032.

• In 2012, BLOOM published the first-ever assessment of the global squalene market.1 This analysis revealed that the cosmetics industry was the main consumer of animal squalene. BLOOM estimated that, at the time of the study, the number of deep-sea sharks killed to meet annual international demand for animal squalene was about three million. At the time and because of budget and human resource limitations, the study was only released in French and English and no communication effort targeting Asian consumers, media or brands was undertaken. Two years later, in 2014, BLOOM tested Western and Asian brands to find out if they had eliminated animal squalene from their supply chain. The objective was to provide a snapshot of changes in the use of shark squalene and plant squalene in cosmetics. 72 creams that listed squalene as one of their ingredients were tested. This is to date the most comprehensive test ever made to identify the presence of shark squalene in cosmetics.
• The main industrial use for shark liver oil is in cosmetics (about 90% of the total oil used), nutraceuticals (9%), as well as pharmaceuticals, textiles, and veterinary medicine (about 1%). Squalene can also be extracted from plants and fruits such as sugar cane and olives. However, the highest concentrations are found in the livers of deep-sea sharks (squalene comprises up to 96% of the oil in the liver), which are therefore makes them more profitable to exploit.
• Shark squalene currently falls under the broad category of “fish oil”. A specific international customs code should be created that would allow to distinguish the following categories: olive squalene, sugarcane squalene, shark squalene. In the pharmaceutical sector, shark squalene is primarily used as an adjuvant ingredient in vaccines. Laboratories prefer to use shark squalene for its higher purity. The nutraceutical sector uses about 9% of the global supply of shark liver oil. Unlike the cosmetics sector, there has not been a significant effort to substitute plant squalene for animal squalene. 

Squalene Market Trend Analysis

The trend in the squalene market is shifting towards integrating plant-based squalene in high-end skincare products.

• Instability in the supply of squalene from shark liver oil and its limited availability in vegetable oils lead to increased prices, prompting exploration of alternative sources such as sugarcane to create a more stable supply chain and reduce costs. The immune-boosting and anti-inflammatory qualities of squalene are important in functional foods and nutraceuticals, creating growth opportunities in this market.
• Continuous advancements in the cosmetic sector fulfill the need for a variety of products. There is a chance to innovate in the skincare industry by using squalene for its moisturizing properties and to cater to the trend of customization. The increasing use of squalene in vaccines and treatments by the pharmaceutical industry is leading to higher demand and more research, thanks to its immune system advantages.
• The health advantages of squalene lead to its inclusion in functional foods, such as supplements and fortified products, to meet consumer desires for better health and well-being. The trend towards functional foods is increasingly on the rise. Increasing desire for personalized beauty products containing squalene to fulfill individual customer requirements. Improving contentment. Regulatory agencies support the use of sustainable ingredients such as plant-derived squalene, encouraging their adoption and meeting consumer demands for environmentally friendly products.

Opportunities in the squalene market include expansion into functional foods and nutraceuticals, and innovations in cosmetic products.

• Discovering alternative sources such as sugarcane for producing squalene diminishes the need for pricey shark liver oil, providing steady, environmentally friendly, and economical substitutes. The increasing demand for health and wellness products is fueling the growth of squalene in functional foods and nutraceuticals. The beauty sector is changing to cater to a variety of skin requirements. Developments in squalene-infused products such as moisturizers and anti-aging creams are tailored to individual preferences.
• The trend of customizable cosmetics is rising, offering fresh chances for creativity. Increasing regulations support sustainable sourcing, driving demand for plant-based squalene and encouraging ethical and sustainable practices in various industries.
• The squalene market has growth opportunities in emerging markets because of the increasing middle class, disposable incomes, and health-conscious consumers. Enhanced production methods, such as biotechnological squalene synthesis, increase yields and decrease expenses for companies engaged in research and development. Partnerships between squalene producers and companies in different sectors have the potential to boost market growth and foster innovation.

Squalene Market Segment Analysis:

Squalene Market Segmented on the basis of Source, Form, Application, and End-Use.

By Form, Liquid Segment Is Expected to Dominate the Market During the Forecast Period

• Liquid squalene is flexible and seamlessly blends into beauty products. Its seamless integration with other components enables the creation of top-notch skincare items. Liquid is the preferred form for serums and moisturizers due to its flexibility in formulation. Enhanced absorption of liquid squalene improves the effectiveness of delivering moisture and nutrients to deeper layers of the skin, meeting consumer desires for noticeable outcomes.
• Squalene in liquid form is commonly utilized in skincare and hair care products to enhance hydration and texture, increasing its market coverage across different uses. The increasing popularity of natural and organic products is driving the demand for liquid squalene, particularly sourced from plants. Rising need for anti-aging and moisturizing products boosts the market for liquid squalene, which is recognized for its ability to diminish fine lines and wrinkles.
• The cost efficiency of producing liquid squalene is achieved through efficient extraction and purification methods, allowing for increased accessibility and scalability to meet market needs, guaranteeing a consistent supply for manufacturers. Utilizing liquid squalene in items improves user experience through easy application and a non-greasy result, increasing consumer contentment and loyalty. Enhancing spreadability and absorption also enhances product performance, which reinforces market dominance. Liquid squalene has been widely embraced by major cosmetic companies for its advantages. It is approved by regulators, increasing consumer trust and driving market demand.

By End-use, Cosmetics & Personal Care Segment Held the Largest Share In 2023

• Squalene helps prevent skin aging by decreasing fine lines and wrinkles with its antioxidant effects. Consumer demand is fueling the growth of the cosmetics industry as the use of anti-aging skincare products continues to rise. Squalene's versatility and suitability in skincare products are crucial, improving the ability to target hydration, brightness, and acne. Its extensive utilization aligns with the desire of consumers for adaptable skincare options.
• In 2023, the squalene market saw personal care and cosmetics dominating with more than 70.1% share due to its widespread usage in skincare and haircare items. The cosmetics industry utilizes 70-80% of worldwide squalene production, highlighting its important contribution to market expansion. L’Oréal, Unilever, and St. Botanica are switching from shark liver oil squalene to plant-based sources because of their attributes and environmental considerations. This change caters to the sustainability needs of consumers.
• The moisturizing and rejuvenating features of squalene are essential in top-tier skincare products, improving absorption and spreadability, reducing moisture loss, and decreasing the appearance of fine lines and wrinkles for a youthful complexion. Consumer desire for natural cosmetics is growing as people become more informed about the impact of ingredients. The increasing demand for squalene in cosmetics is driven by consumers looking for products that are safe, effective, and environmentally-friendly, in line with their values.
• The global cosmetics industry is strong and rapidly adjusting after economic downfalls. China's annual growth in retail revenue was 3.5%. Strong demand and investments in Europe and North America markets. Growing interest in cosmetic products is driving the squalene market.

The squalene market is mainly divided into three industry sectors, cosmetics (69.2%), food (22.8%), and pharmaceutical (8%) (Fig. 1A) during 2014, squalene demand was about 267 000 tons that representing 102.4 billion dollars. Europe is the main squalene consumer followed by Asia Pacific and North America.

Squalene Market Regional Insights:

Europe is Expected to Dominate the Market Over the Forecast Period

• Squalene plays a crucial role in vaccine adjuvants by boosting the immune system's reaction. Europe's emphasis on creating vaccines for new diseases increases the need for squalene in the pharmaceutical industry. It is additionally utilized in immunotherapies, backed by Europe's research infrastructure. Knowledgeable European customers prioritize health and look for products that are both safe and efficient. Squalene is commonly used in pharmaceuticals and cosmetics due to its health benefits, which include antioxidants and skin hydration, driven by consumer awareness.
• European consumers are motivated by luxury and performance when it comes to their high demand for premium beauty products. The properties of squalene make it an essential component in cosmetics, ensuring its continued dominance in the market. Major cosmetic companies in Europe heavily utilize squalene in their products, which helps to establish its market leadership. The plentiful availability of olive oil in Europe, especially in Spain, Italy, and Greece, allows for the extensive production of plant-derived squalene. Europe's leadership in squalene production is strengthened by sustainable practices and the presence of local resources.
• Europe's cutting-edge research and development infrastructure aids in the creation of innovative pharmaceuticals and cosmetics, resulting in the development of new squalene formulations. Partnerships and financial commitments support the development of eco-friendly squalene production techniques. Europe’s sophisticated research and development infrastructure facilitates squalene studies, resulting in groundbreaking formulations for pharmaceuticals and cosmetics. Partnerships and financial commitments support ongoing creativity and environmentally friendly manufacturing techniques.

Squalene Market Active Players

• Amyris (USA)
• Sophim (France)
• Kishimoto Special Liver Oil Co., Ltd. (Japan)
• Arista Industries Inc. (USA)
• Empresa Figueirrense De Pesca, Lda. (Portugal)
• Nucelis LLC (USA)
• New Zealand Green Health Ltd. (New Zealand)
• SeaDragon Marine Oils Limited (New Zealand)
• Maruha Nichiro Corporation (Japan)
• Croda International Plc (UK)
• EFP Biotek (USA)
• Lipofoods SLU (Spain)
• Gracefruit Limited (UK)
• Kappa Bioscience AS (Norway)
• Enzymotec Ltd. (Israel)
• The Lubrizol Corporation (USA)
• Sea Dragon Marine Oils Limited (New Zealand)
• Arista Industries Inc. (USA)
• Empresas Figueirrenses De Pesca, Lda. (Portugal)
• Aromantic Ltd. (UK)
• Kishimoto Special Liver Oil Co., Ltd. (Japan)
• GloryBee Foods (USA)
• Kunpoong Bio Co., Ltd. (South Korea)
• Empresa Figueirrense De Pesca, Lda. (Portugal)
• Nucelis LLC (USA)
• The Lubrizol Corporation (USA)
• Lason Inc. (USA) Other Active Players.

Key Industry Developments in the Squalene Market:

• In Apr 2024, Sophim announced the acquisition of Novastell, a supplier of nutritional and functional ingredients. The transaction was finalized in September 2023, leading to an official presentation of the teams in Peyruis, in the south of France, in early 2024.
• In Sep 2023, Mark Foods acquired frozen seafood distributor Arista Industries. Arista's specialty oils business is not part of the transaction and will continue to operate as Arista Industries, with no changes to the ownership group, management, or personnel.
• In Feb 2023, In a move to expand its product portfolio, Givaudan, the leading provider of flavors and fragrances worldwide, announced the acquisition of specific cosmetic ingredients from Amyris, a biotechnology company based in California. This deal includes Amyris' squalane, derived from sugarcane and a sustainable substitute for the squalane found in the livers of deep-sea sharks.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. SQUALENE MARKET BY SOURCE (2017-2032)
   1. SQUALENE MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. ANIMAL-BASED {SHARK LIVER OIL}
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. VEGETABLE-BASED {OLIVE OIL, AMARANTH OIL, RICE BRAN OIL, WHEAT GERM OIL}
   5. SYNTHETIC
7. SQUALENE MARKET BY FORM (2017-2032)
   1. SQUALENE MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. POWDER
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. LIQUID
8. SQUALENE MARKET BY APPLICATION (2017-2032)
   1. SQUALENE MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. MOISTURIZERS AND EMOLLIENTS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SUN CARE PRODUCTS
   5. HEALTH SUPPLEMENTS
   6. VACCINES
9. SQUALENE MARKET BY END-USE (2017-2032)
   1. SQUALENE MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. COSMETICS & PERSONAL CARE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. PHARMACEUTICALS
   5. FOOD SUPPLEMENTS
10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Benchmarking
       2. Squalene Market Share By Manufacturer (2023)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. AMYRIS (USA)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. SOPHIM (FRANCE)
    4. KISHIMOTO SPECIAL LIVER OIL CO., LTD. (JAPAN)
    5. ARISTA INDUSTRIES INC. (USA)
    6. EMPRESA FIGUEIRRENSE DE PESCA, LDA. (PORTUGAL)
    7. NUCELIS LLC (USA)
    8. NEW ZEALAND GREEN HEALTH LTD. (NEW ZEALAND)
    9. SEADRAGON MARINE OILS LIMITED (NEW ZEALAND)
    10. MARUHA NICHIRO CORPORATION (JAPAN)
    11. CRODA INTERNATIONAL PLC (UK)
    12. EFP BIOTEK (USA)
    13. LIPOFOODS SLU (SPAIN)
    14. GRACEFRUIT LIMITED (UK)
    15. KAPPA BIOSCIENCE AS (NORWAY)
    16. ENZYMOTEC LTD. (ISRAEL)
    17. THE LUBRIZOL CORPORATION (USA)
    18. SEA DRAGON MARINE OILS LIMITED (NEW ZEALAND)
    19. ARISTA INDUSTRIES INC. (USA)
    20. EMPRESAS FIGUEIRRENSES DE PESCA, LDA. (PORTUGAL)
    21. AROMANTIC LTD. (UK)
    22. KISHIMOTO SPECIAL LIVER OIL CO., LTD. (JAPAN)
    23. GLORYBEE FOODS (USA)
    24. KUNPOONG BIO CO., LTD. (SOUTH KOREA)
    25. EMPRESA FIGUEIRRENSE DE PESCA, LDA. (PORTUGAL)
    26. NUCELIS LLC (USA)
    27. THE LUBRIZOL CORPORATION (USA)
    28. LASON INC. (USA) OTHER ACTIVE PLAYERS.
11. GLOBAL SQUALENE MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Source
       4. Historic And Forecasted Market Size By Form
       5. Historic And Forecasted Market Size By Application
       6. Historic And Forecasted Market Size By End-Use
       7. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
12. INVESTMENT ANALYSIS
13. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies
       1. 1. Thailand
          2. Vietnam
          3. The Philippines
          4. Australia
          5. New-Zealand
          6. Rest Of APAC
    3. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    4. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
14. INVESTMENT ANALYSIS
15. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies