Market Overview

The global squalene market was estimated at USD 158.05 million in 2023 and is likely to grow at a CAGR of 7.49% during 2023–2028 to reach USD 226.87 million in 2028.

The report highlights key insights related to squalene market trends, size and future market growth and forecast, along with competitive landscape and emerging opportunities. It is designed to help stakeholders understand market direction and make data-driven decisions.

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What is Squalene Market?

Squalene is a naturally obtained organic compound used as a biochemical precursor to the steroid family and also functions as an adjuvant in vaccines. It is primarily obtained from shark liver oil for commercial use, while alternative sources such as amaranth seed, rice bran, wheat germ, olives, and biosynthetic sources like genetically engineered yeast are increasingly being utilized to meet growing demand.

Market Growth Drivers

The market is primarily driven by the surge in demand for cosmetic products. The cosmetics industry is expanding product offerings, including diverse makeup ranges and personalized products, which has significantly increased the demand for squalene.

Additionally, the organic growth of cosmetics and pharmaceutical industries, increasing R&D in the oncology segment, and growing awareness regarding the benefits of squalene on human health are further contributing to market expansion.

Key Challenges

The market faces several challenges, including stringent regulations on shark liver oil due to conservation concerns and overfishing restrictions imposed by regulatory bodies.

Another major challenge is the unstable cost of raw materials. Declining shark fishing activities and irregular supply of vegetable sources such as olives lead to fluctuating prices, which can hinder market growth and encourage the development of alternative products.

Market Segmentation

• By Source Type
  Animal Source
  Vegetable Source
  Biosynthetic Source
• By End-Use Industry Type
  Cosmetics
  Food & Beverage
  Pharmaceuticals
  Others

The animal source segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The cosmetics segment holds the largest share and is expected to witness healthy growth due to strong demand from skincare and personal care applications.

Regional Analysis

• North America (The USA, Canada, and Mexico)
• Europe (Germany, France, The U.K., Russia, and Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Brazil, Saudi Arabia, Israel, and Others)

Europe held more than 25% of the market share in 2022 and is expected to remain the largest market during the forecast period. Asia-Pacific is expected to witness the highest growth due to rapid urbanization, increasing consumer spending, and the growing presence of pharmaceutical and cosmetic manufacturers.

Key Companies

• Arista Industries Inc.
• Ekiz Olive Oil & Soap Inc.
• Empresa Figueirense De Pesca, Lda
• Kishimoto Special Liver Oil Co. Ltd.
• Arbee Biomarine Extracts Pvt. Ltd.
• Nucelis LLC
• New Zealand Green Health Limited
• Sophim
• Amyris
• SeaDragon Marine Oils Limited

FAQ

What is the size of the squalene market in 2023?
The market was estimated at USD 158.05 million in 2023.

What is the expected market size by 2028?
The market is likely to reach USD 226.87 million by 2028.

What is the expected CAGR of the squalene market?
The market is expected to grow at a CAGR of 7.49% during 2023–2028.

Which region dominates the squalene market?
Europe is expected to remain the largest market during the forecast period.

Conclusion

The squalene market is witnessing steady growth driven by rising demand in cosmetics and pharmaceutical applications. While regulatory challenges and raw material price volatility persist, the shift toward alternative sources and technological advancements presents strong growth opportunities. With Europe leading and Asia-Pacific emerging rapidly, the market is set to expand steadily through 2028.