Squalene Market: Global Industry Analysis and Forecast (2023-2029)

The Global Squalene Market size was valued at USD 142 Million in 2022 and the total Squalene revenue is expected to grow at a CAGR of 6.4% from 2023 to 2029, reaching nearly USD 219.22 Million by 2029.
Squalene Market Overview 
Squalene is a natural compound classified as a triterpene hydrocarbon, and it serves as a biochemical precursor for the synthesis of various steroids in both plants and animals. The squalene market is witnessing Rapid growth, driven by key factors such as the increasing demand for natural ingredients, advancements in extraction technologies, and a focus on health and wellness. The increasing consumer focus on health and wellness has driven the demand for natural and beneficial ingredients.

Squalene, with its potential health benefits, aligns well with this trend, leading to its adoption in nutraceuticals and health-oriented products.The cosmetics and personal care industry is a major driver of the squalene market. Squalene's moisturizing and anti-aging properties make it a sought-after ingredient in skincare products such as creams, serums, and moisturizers. Increasing consumer focus on skincare and beauty products, driven by a desire for natural and effective ingredients, fuels the demand for squalene. The growing applications of squalene in the pharmaceutical industry represent a significant development, driven by its therapeutic properties and potential contributions to drug formulations.

Pharmaceutical companies are recognizing its potential and incorporating it into their research and development pipelines. As the industry continues to innovate and diversify its sourcing methods, the squalene market is poised for sustained growth, driven by the intersection of beauty, health, and sustainability trends.

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Squalene Market Dynamics 
The rising demand for squalene in the cosmetics and personal care industry 

The surging popularity of squalene within the cosmetics and personal care sector has been attributed to its profound moisturizing and anti-aging attributes. This natural compound has become a staple in skincare and beauty products, including moisturizers, creams, and serums. Phytosqualan is a natural vegetable squalene sourced from olive that can be used as a high-performing emollient in cosmetics. On top of restoring the lipidic barrier of the skin, it has a great compatibility with skin components and allows to development of extra soft textures.

The United Nations released a report stating that more than 50 shark species are fished for their liver oil, several of which appear on the International Union for the Conservation of Nature's Red List. At this point, approximately 3,000 sharks, the major and the most popular source of squalene must be killed to obtain 1 ton of squalene. Researchers have proven that there are many plants (olive oil, amaranth, wheat germ, rice bran) with having ability to produce squalene. These plants are considered good alternatives to sharks for squalene production. For example, amaranth oil contains squalene at 69.5 mg/g. Also, the olive tree, the most used plant as a squalene source, includes squalene as 7 mg/g in its leaves.

Key Highlights 

The consumer desire for effective and multifunctional products boosts the market as Squalene addresses these beauty care needs.

Sustainability is a key focus in the beauty industry, and squalene, sourced sustainably from plants, resonates well with environmentally conscious consumers.

The versatility of squalene allows its inclusion in a diverse range of products, including creams, serums, lotions, and hair care items, contributing to market growth.Growing Applications in the Pharmaceutical and Medical Sector 

Squalene stands as a triterpene hydrocarbon, serving as a biochemical precursor for the production of all steroids found in both plants and animals. This compound holds significance as a key constituent of surface lipids in humans, especially in the composition of sebum. Its versatile nature extends to various applications in the realms of food, pharmaceuticals, and medicine. It is currently used for numerous vaccine and drug delivery emulsions due to its stability-enhancing properties and biocompatibility.

Squalene-based vaccine adjuvants, such as MF59 (Novartis), AS03 (GlaxoSmithKline Biologicals), or AF03 (Sanofi) are included in seasonal vaccines against influenza viruses and are presently being considered for inclusion in several vaccines against SARS-CoV-2 and future pandemic threats. With the increased demand for squalene along with regulations on shark-derived squalene, there is a need to find alternatives for squalene production that are low-cost as well as sustainable. As the demand for squalene continues to grow, there is a parallel need for cost-effective production methods. This involves exploring innovative technologies and processes that can enhance efficiency and reduce production costs, making squalene more accessible to a broader market.Opportunities In the Squalene Market  

Increasing Demand for Natural and Sustainable Products

The growing consumer inclination towards natural and sustainable products marks a substantial opportunity for the squalene market. The desire for sustainable and eco-friendly ingredients is well-suited for squalene, particularly when it comes from plant-based sources. Health and wellness initiatives, along with natural and sustainable trends, are additional important drivers driving the rise of the squalene market's revenue. The ascent of green beauty standards, spotlighting sustainable and natural ingredients, is becoming increasingly notable within the beauty and personal care industry. One of the most well-known green beauty certifications is the USDA Organic certification. This certification ensures that the product contains at least 95% organic ingredients and that the remaining 5% of ingredients are on the USDA's approved list.

Adoption of Advanced Extraction Technologies

The adoption of advanced extraction technologies can streamline and optimize the production process of squalene. Improved efficiency leads to higher production yields, meeting the growing demand for squalene in various industries, including cosmetics, pharmaceuticals, and food. Sustainable extraction technologies contribute to the overall sustainability of squalene production. Companies incorporating advanced and environmentally friendly extraction methods can position themselves as leaders in sustainable practices, appealing to a growing market segment.

The extraction of squalene from shark liver oil poses a significant challenge for Squalene Market

The reduction in shark numbers disrupts the natural balance within marine ecosystems, as sharks play a crucial role in maintaining the health and stability of marine environments. Sharks contribute to the biodiversity of marine ecosystems by regulating the populations of prey species. The presence of sharks helps to control the abundance and behavior of various marine organisms, preventing the overpopulation of certain species and promoting the overall health of the ecosystem. Biodiversity enhances the ability of ecosystems to withstand environmental changes and disturbances, making them more resilient in the face of challenges. Some shark species are already facing threats of extinction, and the extraction of shark liver oil further exacerbates the vulnerability of these endangered species. Conservation efforts to protect and rehabilitate endangered sharks become more challenging in the face of ongoing harvesting for squalene.

The potential loss of biodiversity due to squalene extraction highlights the importance of conservation efforts to protect shark populations. Continuous extraction of squalene from shark liver oil using supercritical carbon dioxide was carried out in both laboratory and pilot scale plants. The shark liver oil contained around 50% by weight squalene, which was recovered as the main extract stream. Approximately, 100 million sharks are killed annually, and over three million are targeted for the liver oil market alone. While this may represent only a fraction of the number of sharks killed each year, it does not make the number insignificant. Sharks play a crucial role in maintaining the health of marine populations by preying on weak, sick, or injured individuals. It plays an important role in cultures around the world and benefits human livelihoods through ecotourism and fishing.
Squalene Market Segment Analysis
Based on the Source Segment, the plants segment dominated the market with a revenue share of over 83.7% in 2022. This is due to the diminishing shark population, increased public awareness of animal welfare and conservation, and regulatory frameworks implemented by the government for the protection of marine creatures. According to MMR research, due to the significant cultivation of olive trees in this region, global olive oil output might exceed 3,214,500 tonnes, a 2.9% increase over the previous crop year. Squalene is naturally present in olives, amaranth, and rice bran.

The product is found in the highest concentrations in olives, depending on the cultivator, extraction process, and level of oil refinement. When compared to refined olive oils, extra virgin unrefined olive oil has higher concentrations of the product.Shark squalene is derived from the liver oil of newly preserved livers of a variety of deeper water shark species, which have a greater product concentration. Because it takes around 3000 sharks to extract one tonne of squalene, overfishing of these creatures has resulted in a major reduction in the population of some species, as over 2.7 million deep-sea sharks are poached each year due to their widespread use in the beauty business.

Several regulations were enacted to preserve these sharks and to force producers to utilize plant-based squalene sources. Extraction, ownership, or trading of ten elasmobranchs is strictly illegal in India under the Wildlife (Protection) Act of 1972. Plant-based sources offer advantages in terms of sustainability, as they can be cultivated without causing harm to marine ecosystems. Olive oil, in particular, is a notable source, providing a sustainable and cruelty-free option for obtaining squalene.

Based on End-User, the personal care and cosmetics segment held more than 74.5% of the global Squalene market. The use of squalene in several cosmetic products for skin and hair care has contributed to the segment's rise. Multinational cosmetic businesses such as L'Oréal, Unilever, and St. Botanica have already begun to transition from shark liver oil-based to plant-based squalene for usage in their personal care products and cosmetics due to its excellent characteristics and lower danger of shark extinction.

Food is the second-largest end-use industry in the Squalene industry, behind pharmaceuticals. Squalene is used to boost the nutritional content of a variety of food items. These are used in the manufacturing of dietary supplements such as capsules, pills, and other items. The demand for squalene in the food business would be determined by the expansion of the nutraceuticals sector's dietary supplements segment. The nutraceuticals industry is currently growing, fueled by growing economies such as India, China, and Brazil.
Squalene Market Regional Insights
Europe dominated the Squalene Market in 2022 with a revenue share of over 35.1%, followed by the Asia Pacific region. This is due to the large-scale production of olive oil, which is a key plant-based source of squalene, as well as increased demand for the product from major economies in the region such as Germany, France, the United Kingdom, Italy, and Spain. Europe accounts for a sizable portion of olive oil production as of 2022. Italy, France, and Spain are only a handful of the region's nine producing member countries. Spain accounts for more than half of Europe's total olive grove area. Squalene producers in this region are transitioning from shark-based to plant-based squalene production.

In 2022, the pharmaceutical industry had one of the highest R&D budgets in France. it contributed to 9.8% of total pharmaceutical sales. To ensure environmental safety, pharmaceutical firms in France are constantly investing in research and development operations to provide novel and effective medications made from bio-based chemicals. This, in turn, is expected to enhance the use of plant-based squalene in the country's pharmaceutical industry during the forecast period. In 2020, Germany was importing around 85 tonnes of olive oil due to rising demand from health-conscious customers and increased use of plant-based squalene in different end-use sectors such as personal care goods and cosmetics, nutraceuticals, and medicines. Companies such as L’Oréal in Germany have switched from the usage of animal-derived to plant-derived squalene in their products.

The Asia-Pacific area is expected to be the fastest-growing market for personal care and food. Squalene's immune system strengthening, anti-aging, anti-oxidation, and UV protection capabilities are expected to boost squalene market growth. The fast development of the food processing sector in China, India, and ASEAN nations is likely to boost demand for squalene. The increasing use of squalene in bath oils, eye makeup, suntan, nail products, body powders, cleansing, moisturizing, and other cosmetic and personal care products, as well as the growing demand from the cosmetic and personal care industries in countries such as China and India, are expected to drive the squalene industry.

The Asia-Pacific area has one of the world's major cosmetics production businesses. The majority of the demand comes from China, Japan, South Korea, and Singapore. China is a significant cosmetics consumer. South Korea boasts one of the world's best beauty marketplaces. New beauty trends and advances are continuously on show, with complex ingredients and visually pleasing packaging. As a result, the mentioned factors are expected to have a substantial influence on the Squalene market over the forecast period.
Competitive Landscape of Squalene Market 
Companies are increasingly focusing on sustainable sourcing practices, including the shift from animal-derived squalene to plant-based or synthetic sources. Investment in research and development is a key strategy to enhance extraction technologies, improve product quality, and explore new applications for squalene. The cosmetics and personal care industry remains a key driver for the squalene market, with increasing consumer focus on natural and sustainable ingredients in beauty products.

1. In May 2023, Amyris announced a collaboration with Croda International Plc (Croda) to provide pharmaceutical-grade, biotechnology-derived squalene for adjuvants that enhance immune responses.

2. In June 2022, Amyris declared that its plant in Brazil would begin producing 13 different chemicals, including squalene. The company added that in place of non-sustainable shark-derived squalene, it created a method to make squalene from sugarcane.

The squalene market is driven by its diverse applications across industries, including cosmetics, pharmaceuticals, and nutraceuticals. Squalene's perceived health benefits, especially its antioxidant properties and potential cardiovascular advantages, contribute to its adoption in the nutraceutical sector. Amyris, known for its focus on sustainability, emphasizes plant-based squalene production, aligning with the broader market shift towards eco-friendly and ethical sourcing.
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Global Squalene Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 142 Mn.


Forecast Period 2023 to 2029 CAGR:
6.4 %
Market Size in 2029:
US $ 219.22 Mn.


 Segments Covered:
by Product
Animal
Plant
Synthetic


by Type
Animal
Vegetable Source
Biosynthetic


by End-use Industry
Pharmaceuticals
Personal Care & Cosmetics
Nutraceuticals
Food & Beverages



Squalene Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Squalene Market Key Players
1. Amyris, Inc.
2. Sophim SAS
3. Henry Lamotte Oils Gmb
4. Hefpbiote
5. Vestan Limited
6. Kuraray Co. LTD.
7. Croda International Plc
8. Aasha Biochem; Arbee
9. Oleicfat
10. Kishimoto Special Liver Oil Co., Ltd.
11. SaDragon Marine Oils Limited (New Zealand)
12. New Zealand Green Health Ltd. (New Zealand)
13. Rlr Squalene (Philippines)
14. Isho Genki International (Australia)

FAQs:
1. What is the study period of the market?
Ans. The Global Squalene Market is studied from 2017-2029.

2. What is the growth rate of the Squalene Market?
Ans. The Squalene Market is growing at a CAGR of 6.4 % over the forecast period.

3. What is the market size of the Squalene Market by 2029?
Ans. The market size of the Squalene Market by 2029 is expected to reach USD 219.22 Mn.

4. What is the forecast period for the Squalene Market?
Ans. The forecast period for the Squalene Market is 2022-2029.

5. What was the market size of the Squalene Market in 2022?
Ans. The market size of the Squalene Market in 2022 was valued at USD 142 Mn.