Squalene Market Growth, Share, Size, and Regional Industry Overview Forecast till 2032

The global squalene market size was valued at USD 156.2 million in 2023. The market is projected to grow from USD 169.6 million in 2024 to USD 359.5 million by 2032, exhibiting a CAGR of 9.9% during the forecast period. The Squalene Market has been gaining attention due to the compound's growing use in several industries, most notably in cosmetics, pharmaceuticals, and nutraceuticals. Derived from both plant and animal sources, squalene is a naturally occurring hydrocarbon and triterpene that is widely known for its exceptional moisturizing and antioxidant properties. Traditionally sourced from shark liver oil, ethical concerns have shifted much of the production toward plant-based and synthetic alternatives.

Market Overview

The global squalene market is projected to experience significant growth over the coming years, driven by increased demand from the cosmetics and pharmaceutical sectors. The market size is expected to expand due to the compound's applications in skincare products, where its hydrating and anti-aging benefits are highly sought after. Additionally, squalene’s potential in pharmaceuticals, especially in vaccine adjuvants and drug delivery systems, further boosts its demand.

Competitive Landscape

Key players in the global squalene market are focusing on product innovation, sustainable sourcing, and expanding their market presence through strategic partnerships and acquisitions. Some of the major companies include:

• Amyris (U.S.)
• Sophim (France)
• Kishimoto Special Liver Oil Co., Ltd (Japan)
• Empresa Figueirrense de Pesca, Lda (Portugal)
• Matrix Life Science Private Limited (India)
• Croda International Plc (U.K.)
• Aasha Biochem (India)
• Evonik Healthcare (Germany)

These companies are investing in research and development to find more sustainable and cost-effective ways to produce squalene, with a focus on reducing dependency on animal sources.

Key Drivers

1. Growing Demand for Natural Ingredients: As consumers increasingly seek natural and sustainable products, plant-based squalene sourced from olives, amaranth seed, and other botanical origins has become popular. This shift has allowed manufacturers to appeal to ethically conscious consumers.
2. Expanding Cosmetics and Personal Care Industry: Squalene is extensively used in moisturizers, anti-aging creams, sunscreens, and other skincare products, which are witnessing growing demand due to the rising awareness of skincare routines, especially in emerging economies.
3. Pharmaceutical Applications: The use of squalene in vaccine adjuvants, which enhance the immune response, has surged, particularly after its inclusion in certain flu vaccines. This has positioned squalene as a crucial component in the healthcare sector.
4. R&D in Synthetic Squalene: Advances in biotechnology have led to the development of synthetic squalene, which offers a sustainable and reliable alternative to animal-sourced varieties. Synthetic versions are being produced via fermentation processes, making them both scalable and eco-friendly.

Challenges

• High Production Costs: Despite the growing demand, the production of squalene, particularly from plant sources, remains relatively expensive. This has restrained the market to some extent, as manufacturers face challenges in scaling up production while keeping prices competitive.
• Ethical Concerns over Animal-Derived Squalene: Historically, much of the world's squalene supply came from shark liver oil, raising ethical and environmental concerns. Although plant-based and synthetic alternatives are growing, the reputation of squalene sourcing still needs improvement in the eyes of some consumers.

Regional Insights

• Europe and North America: These regions dominate the global squalene market, with high demand driven by their robust cosmetics industries and increased focus on healthcare and wellness. Leading companies in these regions are focusing on sustainable sourcing and plant-based squalene production.
• Asia-Pacific: This region is expected to witness the fastest growth in the squalene market, driven by the burgeoning cosmetics industry in countries like China, Japan, and South Korea. The rising disposable income and increasing awareness of skincare in these nations contribute significantly to the demand for squalene-based products.
• Latin America and Middle East: These regions are also emerging as significant markets due to increasing awareness about the benefits of squalene in healthcare and personal care products.

Information Source: https://www.fortunebusinessinsights.com/squalene-market-110069

Future Outlook

The squalene market is poised for steady growth over the next decade, with demand expected to increase from both the cosmetics and pharmaceutical sectors. The shift toward plant-based and synthetic squalene, driven by sustainability concerns, will play a critical role in shaping the market’s future trajectory. Additionally, innovations in biotechnological production methods are likely to further reduce costs and enhance supply chain reliability, making squalene more accessible for various end-use industries.

Conclusion

As the demand for eco-friendly, natural ingredients continues to grow, the squalene market stands to benefit significantly. Although challenges such as high production costs and ethical sourcing concerns persist, advancements in biotechnology and increasing awareness about squalene’s benefits across industries will drive the market forward. With increasing consumer awareness and the development of sustainable alternatives, squalene is likely to remain a key ingredient in both personal care and pharmaceutical products for years to come.