The Squalene Market size was valued at USD 150.26 million in 2023 and is expected to grow to USD 341.24 million by 2031 and grow at a CAGR of 10.8% over the forecast period of 2024-2031.
Squalene is a natural organic compound that is commonly used in the production of cosmetics, dietary supplements, and pharmaceuticals. It is primarily sourced from shark liver oil, but there are also plant-based alternatives available.
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It is a saturated oil that is naturally produced by the skin of human beings and other animal and plant sources. Squalene is used as a moisturizing ingredient and used in skin care products like anti-aging creams, lip balm, sunscreen, moisturizing creams, etc. Using squalene in cosmetic products, makes fine lines and dry patches less visible and makes skin more supple and elastic. Despite being oily, it can also be used for acne-prone or sensitive skin.
Adding more hydrogen to squalene turns it into a more solid squalene. This process is called as hydrogenation process. The antioxidants in the squalene oils and creams fight skin damage and free radicals, which can accelerate aging. Squalene also acts as a detoxifier. Squalene plays a key role in the lubrication and protection of skin from UV damage. Squalene boosts hydration more than calming dry skin. Squalene is mostly extracted from olive oil and shark liver oil
Drivers
Increasing popularity of squalene in nutraceuticals
Rising demand for a natural substituent in the personal care and cosmetics industry
Favorable properties of squalene make it the most preferred emollient
Absence of toxicity
Increasing demand for squalene in several vaccines
Continuously rising prevalence of cancer and cardiovascular disorders
Favorable properties of squalene such as low odor emission, translucid in nature and provide moisture to the skin make it the most preferred emollient across the globe. This factor drives the market exponentially. The absence of toxicity is the most important property which makes squalene a widely used element in the personal care industry. Nowadays there is a trend of using natural ingredients in the production of personal care and cosmetics products. As squalene is naturally produced by the skin of human beings and other plant sources the availability of squalene is abundant due to which the market for squalene is boosting rapidly.
Restrain
Limitation on shark killing
Rising regulation on marine animal protection activities
Squalene is mostly extracted from shark liver oil but the stringent regulation imposed on the killing of sharks restricts the supply of squalene which further hampers the growth of the squalene market. For instance, according to the International Trade of Endangered Species report, “around five species of sharks are on the verge of extinction”
Opportunities
Increase in R&D activities
Rise in the potential application of squalene in various End-use industries
New renewable source (Tobacco Crop) for the production of squalene
Challenges
Volatile raw material prices
The COVID-19 pandemic has had a severe impact on various markets worldwide. The squalene market is no exception to this. This market witnessed both positive as well as negative impacts.
With the virus spreading rapidly, the demand for vaccines has skyrocketed. One particular ingredient that has seen a surge in demand during the pandemic is squalene, which is extracted from shark liver oil. Pharmaceutical companies across the globe have been relying on squalene to develop coronavirus vaccines. Squalene is considered a lifesaver for humans during this pandemic as it acts as a boosting agent in vaccines. It is also known as an adjuvant, which makes vaccines more effective and improves the immune system of human beings. The exponential increase in demand for squalene during COVID-19 is due to its crucial role in the development of at least five of the 202 COVID-19 vaccines.
However, the pandemic has disrupted the supply chain and demand for squalene, leading to significant changes in the market. One of the main factors affecting the squalene market is the disruption of the supply chain. The closure of borders and restrictions on international trade has made it difficult for companies to obtain the raw materials needed to produce squalene. This has led to a shortage of squalene in the market, which has driven up prices and made it difficult for companies to meet demand.
The ongoing conflict between Russia and Ukraine has had a significant impact on various industries, including the squalene market. The war has disrupted the supply chain of squalene, particularly from Ukraine, which is a major producer of plant-based squalene. The conflict has caused a decrease in production and exports, leading to a shortage of squalene in the market. This shortage has resulted in an increase in prices, making it difficult for manufacturers to source the necessary amount of squalene for their products. Furthermore, the conflict has also affected the demand for squalene in the region. The instability and uncertainty caused by the war have led to a decrease in consumer spending, which has impacted the sales of cosmetics and dietary supplements that contain squalene.
The global recession has had a significant impact on the squalene market. The economic downturn has caused a decline in demand for squalene-based products, leading to a decrease in production and sales. The recession has also affected the supply chain of squalene. Many suppliers have reduced their production or even shut down their operations due to the decrease in demand. This has resulted in a shortage of squalene in the market, leading to an increase in prices.
On the basis of Source, the Squalene Market is further segmented into Animal, Plant, Biosynthetic
On the basis of End-use, the Squalene Market is further bifurcated into Pharmaceuticals, Personal Care & Cosmetics, Nutraceuticals, Food & Beverages, and Others.
By Source
Animal
Shark Liver Oil
Other Animals
Plant
Amaranth Oil
Olive Oil
Rice Bran Oil Plants
Other Amaranth Oil
Biosynthetic
By End-use
Pharmaceuticals
Personal Care & Cosmetics
Nutraceuticals
Food & Beverages
Others
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Europe region held the largest revenue share of about 32. 6% in 2023 and is expected to show lucrative growth during the forecast period. This is owing to the large-scale production of olive oil. As olive oil is the major plant-based source of squalene there is increased demand for squalene from the countries like UK, Italy, Spain, France, and Germany. In Europe, manufacturers of squalene prefer plant-based sources over shark-based sources to produce squalene which helps to drive the market for squalene in this region.
The Asia Pacific region is also anticipated to show exponential growth with the highest CAGR during the forecast period due to an increase in consumption of squalene in the various End-use industries such as cosmetics, personal care, and pharmaceuticals. Cheap labor costs, low manufacturing costs, and low cost of maintenance make the Asia Pacific region an attractive market for competitors to start production activities in this region. This factor boosts the squalene market in this region.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are Amyris, Inc., Sophim SAS, Henry Lamotte Oils GmbH, efpbiotek, Vestan Limited, Kuraray Co., Ltd., Croda International Plc, AASHA BIOCHEM, Arbee, Oleicfat S.L., Kishimoto Special Liver Oil Co., Ltd., and other players.
Squalene Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 150.26 Mn |
| Market Size by 2031 | US$ 341.24 Mn |
| CAGR | CAGR of 10.8% From 2023 to 2030 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Source (Animal, Plant, Biosynthetic) • By End-use (Pharmaceuticals, Personal Care & Cosmetics, Nutraceuticals, Food & Beverages, and Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Amyris, Inc., Sophim SAS, Henry Lamotte Oils GmbH, efpbiotek, Vestan Limited, Kuraray Co., Ltd., Croda International Plc, AASHA BIOCHEM, Arbee, Oleicfat S.L.., Kishimoto Special Liver Oil Co Ltd. |
| Key Drivers | • Increasing popularity of squalene in nutraceuticals • Rising demand for a natural substituent in the personal care and cosmetics industry |
| Market Opportunities | • Increase in R&D activities • Rise in the potential application of squalene in various End-use industries |
The Squalene Market recorded a value of USD 150.26 million in 2023.
The expected CAGR of the global Squalene Market during the forecast period is 10.8%
The major key players in the Squalene Market are Amyris, Inc., Sophim SAS, Henry Lamotte Oils GmbH, efpbiotek, Vestan Limited, Kuraray Co., Ltd., Croda International Plc, AASHA BIOCHEM, Arbee, Oleicfat, s.l., and Kishimoto Special Liver Oil Co., Ltd.
Europe region is likely to lead the Squalene Market during the forecast period.
An increase in R&D activities, a rise in the potential application of squalene in various End-use industries, and new renewable source (Tobacco Crop) for the production of squalene are the opportunities for the squalene market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Squalene Market Segmentation, By Source
8.1 Animal
8.1.1 Shark Liver Oil
8.1.2 Other Animals
8.2 Plant
8.2.1 Amaranth Oil
8.2.2 Olive Oil
8.2.3 Rice Bran Oil Plants
8.2.4 Other Amaranth Oil
8.3 Biosynthetic
9. Squalene Market Segmentation, By End-use
9.1 Pharmaceuticals
9.2 Personal Care & Cosmetics
9.3 Nutraceuticals
9.4 Food & Beverages
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Squalene Market by Country
10.2.2North America Squalene Market by Source
10.2.3 North America Squalene Market by End-use
10.2.4 USA
10.2.4.1 USA Squalene Market by Source
10.2.4.2 USA Squalene Market by End-use
10.2.5 Canada
10.2.5.1 Canada Squalene Market by Source
10.2.5.2 Canada Squalene Market by End-use
10.2.6 Mexico
10.2.6.1 Mexico Squalene Market by Source
10.2.6.2 Mexico Squalene Market by End-use
10.3 Europe
10.3.1 Europe Squalene Market by Country
1.3.3.2 Europe Squalene Market by Source
10.3.3 Europe Squalene Market by End-use
10.3.4Germany
10.3.4.1 Germany Squalene Market by Source
10.3.4.2 Germany Squalene Market by End-use
10.3.5 UK
10.3.5.1 UK Squalene Market by Source
10.3.5.2 UK Squalene Market by End-use
10.3.6 France
10.3.6.1 France Squalene Market by Source
10.3.6.2 France Squalene Market by End-use
10.3.7 Italy
10.3.7.1 Italy Squalene Market by Source
10.3.7.2 Italy Squalene Market by End-use
10.3.8 Spain
10.3.8.1 Spain Squalene Market by Source
10.3.8.2 Spain Squalene Market by End-use
10.3.9 The Netherlands
10.3.9.1 Netherlands Squalene Market by Source
10.3.9.2 Netherlands Squalene Market by End-use
10.3.10 Rest of Europe
10.3.10.1 Rest of Europe Squalene Market by Source
10.3.10.2 Rest of Europe Squalene Market by End-use
10.4 Asia-Pacific
10.4.1 Asia Pacific Squalene Market by Country
10.4.2Asia Pacific Squalene Market by Source
10.4.3 Asia Pacific Squalene Market by End-use
10.4.4 Japan
10.4.4.1 Japan Squalene Market by Source
10.4.4. 2Japan Squalene Market by End-use
10.4.5. South Korea
10.4.5.1 South Korea Squalene Market by Source
10.4.5.2. South Korea Squalene Market by End-use
10.4.6 China
10.4.6.1 China Squalene Market by Source
10.4.6.2. China Squalene Market by End-use
10.4.7 India
10.4.7.1 India Squalene Market by Source
10.4.7.2. India Squalene Market by End-use
10.4.8 Australia
10.4.8.1 Australia Squalene Market by Source
10.4.8.2. Australia Squalene Market by End-use
10.4.9 Rest of Asia-Pacific
10.4.9.1 APAC Squalene Market by Source
10.4.9.2. APAC Squalene Market by End-use
10.5 The Middle East & Africa
10.5.1 The Middle East & Africa Squalene Market by Country
10.5.2 The Middle East & Africa Squalene Market by Source
10.5.3The Middle East & Africa Squalene Market by End-use
10.5.4 Israel
10.5.7.1 Israel Squalene Market by Source
10.5.7.2 Israel Squalene Market by End-use
10.5.5 UAE
10.5.5.1 UAE Squalene Market by Source
10.5.5.2 UAE Squalene Market by End-use
10.5.6South Africa
10.5.6.1 South Africa Squalene Market by Source
10.5.6.2 South Africa Squalene Market by End-use
10.5.7 Rest of Middle East & Africa
10.5.7.1 Rest of Middle East & Asia Squalene Market by Source
10.5.7.2 Rest of Middle East & Asia Squalene Market by End-use
10.6 Latin America
10.6.1 Latin America Squalene Market by Country
10.6.2. Latin America Squalene Market by Source
10.6.3 Latin America Squalene Market by End-use
10.6.4 Brazil
10.6.4.1 Brazil Squalene Market by Source
10.6.4.2 Brazil Squalene Market by End-use
10.6.5Argentina
10.6.5.1 Argentina Squalene Market by Source
10.6.5.2 Argentina Squalene Market by End-use
10.6.6Rest of Latin America
10.6.6.1 Rest of Latin America Squalene Market by Source
10.6.6.2 Rest of Latin America Squalene Market by End-use
11. Company Profile
11.1 Amyris, Inc.
11.1.1 Market Overview
11.1.2 Financials
11.1.3 Product/Services/Offerings
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Sophim SAS
11.2.1 Market Overview
11.2.2 Financials
11.2.3 Product/Services/Offerings
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Henry Lamotte Oils GmbH
11.3.1 Market Overview
11.3.2 Financials
11.3.3 Product/Services/Offerings
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 efpbiotek
11.4.1 Market Overview
11.4.2 Financials
11.4.3 Product/Services/Offerings
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Vestan Limited
11.5.1 Market Overview
11.5.2 Financials
11.5.3 Product/Services/Offerings
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Kuraray Co., Ltd.
11.6.1 Market Overview
11.6.2 Financials
11.6.3 Product/Services/Offerings
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Croda International Plc
11.7.1 Market Overview
11.7.2 Financials
11.7.3 Product/Services/Offerings
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 AASHA BIOCHEM
11.8.1 Market Overview
11.8.2 Financials
11.8.3 Product/Services/Offerings
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Arbee
11.9.1 Market Overview
11.9.2 Financials
11.9.3 Product/Services/Offerings
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Oleicfat, s.l.
11.10.1 Market Overview
11.10.2 Financials
11.10.3 Product/Services/Offerings
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Kishimoto Special Liver Oil Co., Ltd.
11.11.1 Market Overview
11.11.2 Financials
11.11.3 Product/Services/Offerings
11.11.4 SWOT Analysis
11.11.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
13. USE Cases And Best Practices
14. Conclusion
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