Squalene Market: Regional Analysis and Growth Projections through 2028

[Animesh Rao]

The report "Squalene Market by Source (Animal Source (Shark Liver Oil), Vegetable Source (Olive Oil, Palm Oil, Amaranth Oil), Biosynthetic (GM Yeast]), End-use Industry (Cosmetics, Food, and Pharmaceuticals), and Region - Global Forecast to 2028", size was USD 141 million in 2022 and is projected to reach USD 202 million by 2028, at a CAGR of 6.3%, between 2023 and 2028.

Squalene are used in various end-use industries including cosmetics, pharmaceuticals, food and others. Squalene is a natural emollient and moisturiser. As a result of its striking resemblance to the skin's natural sebum, it makes a fantastic ingredient for skincare products. It aids in moisture retention, avoiding dryness and keeping the suppleness of skin.

Browse in-depth TOC on "Squalene Market"

300 – Tables
52 – Figures
236 – Pages

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Driver: Growing demand for cosmetic products
The cosmetics industry has been evolving to be more inclusive and diverse. Brands are expanding their shade ranges for makeup products to cater to a wider range of skin tones, reflecting the demand for products that cater to all ethnicities. The convenience of online shopping has led to a significant increase in cosmetic sales through e-commerce platforms. Consumers can easily browse and purchase products online, which has expanded market access. Personalized and customizable cosmetics are also gaining popularity. Consumers appreciate the ability to tailor products to their specific needs and preferences. All these factor drive the market for squalene used in cosmetic products.

Restraints: Consumer skepticism about animal-sourced products and limitations on shark killing
The traditional source of squalene, shark liver oil, has faced restrictions due to concerns about overfishing and the conservation of shark populations. Some regions have imposed bans or limitations on the extraction of squalene from shark liver oil. Several regulatory bodies such as the General Fisheries Commission of the Mediterranean, Northeast Atlantic Fisheries Commission (NEAFC), Commission for Conservation of Antarctic Marine Living Resources, and North Atlantic Fisheries Organization (NAFO) have imposed restrictions such as fixed quotas for shark fishing, which, in turn, has resulted in supply shortage of shark liver and, thereby squalene. This is expected to restrict the market for animal sourced squalene during the forecast period.

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Biosynthetics is projected to register the highest CAGR, in terms of value, of the global squalene during the forecast period.

An environmentally friendly substitute for conventional sources of squalene, including shark liver oil, is biosynthetic squalene. The need for materials obtained responsibly has increased as environmental and social issues become more prominent. Squalene can be produced by biosynthesis without having an adverse effect on the environment, as is the case with conventional extraction techniques. All these factors are expected to drive the demand for biosynthetic sourced squalene during the forecast period.

Cosmetics is estimated to be the largest end-use industry of the squalene, in terms of value, during the forecast period.

The cosmetics segment is estimated to be the largest end-use industry of the squalene market during the forecast period. Squalene has antioxidant properties, which can help protect the skin from oxidative stress and free radical damage. This makes it a valuable ingredient in anti-aging skincare products, as it can help reduce the appearance of fine lines and wrinkles. Increasing demand for cosmetic products specially skin and hair care products is expected to fuel the demand for squalene in cosmetics end-use industry.

North America is estimated to be the second-largest market for the squalene market, in terms of value, during the forecast period.

The demand for squalene in North America has been influenced by several factors, including its applications in various industries such as cosmetics, skincare, pharmaceuticals, and dietary supplements. North America has a significant cosmetics and skincare market. Squalene is a sought-after ingredient in these industries due to its moisturizing and skin-conditioning properties. It is commonly used in a wide range of beauty products, including moisturizers, serums, and anti-aging treatments. Its use and demand in North America have been helped by regulatory approvals for squalene-based adjuvants and ingredients in cosmetics and pharmaceuticals.

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Market Players

The key players profiled in the squalene market report include Amyris, Inc (US), SOPHIM (France), Merck KGaA (Germany), Kishimoto Special Liver Oil Co., Ltd. (Japan), Empresa Figueirense De Pesca (Portugal), Arbee (India), Cibus (US), Otto Chemie Pvt. Ltd. (India), Arista Industries (US), Oleicfat s.l. (Spain) and others.

Merck KGaA operates in a wide range of sectors and offers various products in pharmaceutical and biological prescription drugs to treat cancer, multiple sclerosis (MS), infertility, and growth disorders; cardiovascular and metabolic diseases tools; research-grade chemicals; and equipment for academic labs, biotech, and biopharmaceutical sectors. The company's business can be divided into three main divisions: Healthcare, Life Science, and Electronics. Merck KGaA has a global presence in Europe, North America, Latin America, Africa and Middle East.

Amyris, Inc. is a biotechnology company based in Emeryville, California, United States. The company specializes in synthetic biology and produces a wide range of sustainable and renewable products, primarily using microorganisms and genetic engineering. Amyris Inc operates through three business segments namely; renewable products, licenses and royalties, and collaborations, grants and other. It offers squalene through the renewable products segment. The products of the Amyris Inc., reach more than 300 million consumers in South America, North America, Europe, and Asia Pacific.