Squalene Market Size, Share & Trends Analysis Report By Source (Animal, Amaranth Oil, Synthetic), By End-use (Pharmaceuticals, Nutraceuticals), By Region, And Segment Forecasts, 2023 - 2030

Squalene Market Size, Share & Trends Analysis Report By Source (Animal, Amaranth Oil, Synthetic), By End-use (Pharmaceuticals, Nutraceuticals), By Region, And Segment Forecasts, 2023 - 2030

Squalene Market Growth & Trends

The global squalene market size is expected to reach USD 307.88 million by 2030, as per the new report by Grand View Research, Inc., expanding at a CAGR of 10.9% from 2023 to 2030. The industry is majorly driven by rising health awareness among the masses and continuously rising demand for squalene in personal care and cosmetics. Squalene acts as an emollient and provides nourishment to the skin. Moreover, it finds application in pharmaceuticals due to its ability to act as an anti-cancer and anti-oxidant agent.

Squalene is now largely produced from plants. It can be obtained from vegan sources such as sugarcane, rice bran, wheat germ, palm trees, and olives, with olives being the most popular. Although many businesses prefer squalene derived from plants, there is still a possibility that it comes from animals. The demand for the product from shark liver oil is still in the market because of its low cost. In the cosmetics industry, products such as perfumes, lotions, eyeliners, and eye shadows, contain squalene in the range of 0.1% to 10%, whereas other products such as foundations and lipsticks contain 50% of the product.

The usage of synthetic and plant-based squalene has been motivated by the growing concerns over the extinction of sharks. To create squalene from plants or synthetic processing, manufacturers are engaged in research & development. A supplier of natural component products for the cosmetics market, Sophim, invested USD 11.94 million to increase its production capacity. Two-thirds of the company's investment is to be made in Spain, where a production facility is planned to be built to treble the amount of squalene that can be extracted from olive oil.

With their antioxidant and anti-aging characteristics, squalene supplements can restore our skin, maintain cholesterol levels, and help in treating inflammation. They provide cells with the oxygen they require for proper metabolism and energy production at the cellular level. These supplements are also known to combat viruses, colds, and infections, thus improving overall health and well-being. With the onset of the COVID-19 pandemic, people have become more conscious about their health and immunity, thus increasing the demand for squalene in the pharmaceutical industry.

Squalene Market Report Highlights

• Rising usage of natural chemical-free ingredients in personal care and cosmetics and increased awareness regarding the benefits of squalene for health and body are driving the market
• Europe dominated the global market with a revenue share of over 32.9% in 2022 owing to large olive oil production, which is an important source of squalene
• The plant source segment held a dominant revenue share of over 82.3% in 2022. This is attributed to rising government regulations for protecting marine life
• The personal care and cosmetics segment emerged as the largest end-use segment with a revenue share of over 70.1% in 2022. This can be attributed to the increasing usage of squalene in various personal care products such as bath oils, hair care products, lotions and moisturizers, deodorants, anti-aging creams, eye shadows and liners, balms, sunscreen products, and derma-cleaners
• In the pharmaceutical industry, squalene is widely used for various vaccine and drug delivery emulsions owing to its biocompatibility and stability-enhancing effects. In vaccines, it is used as an oil-in-water emulsion form, coupled with some adjuvants and stimulants of the immune system
• Companies are involved in strategic initiatives such as mergers and new product launches to maintain their market position

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