Squalene Market to Surpass USD 341.24 Million by 2031, Fueled by Rising Demand in Cosmetics and Personal Care Industries

The growth of the Squalene Market is propelled by increasing consumer preference for natural and organic skincare products, driven by rising awareness of the benefits of squalene in personal care applications. Additionally, regulatory restrictions on shark-derived squalene have shifted demand towards plant-based alternatives, further fueling market growth.

According to the SNS Insider report, the Squalene Market size reached USD 150.26 million in 2023 and is anticipated to achieve USD 341.24 million by 2031, with a projected CAGR of 10.8% from 2024 to 2031.

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Some of the Key Players Included 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

Market Report Scope

The demand for squalene, a naturally occurring compound, is witnessing significant growth propelled by the escalating preference for natural ingredients in personal care and cosmetics. Squalene’s translucency, mild odor, and moisturizing attributes render it a favored emollient in various applications within the cosmetics industry. Its efficacy in combating free radicals, thereby aiding in skin protection and anti-aging, further enhances its appeal. Moreover, the market benefits from the expanding consumer base for natural and organic products, driving innovation in squalene sourcing and production techniques. The rising interest in nutritional supplements and the prevalence of health concerns like cancer and cardiovascular disorders also contribute to market expansion.

However, challenges persist due to regulatory restrictions on shark-derived squalene and price fluctuations resulting from raw material supply volatility. Despite these challenges, the market is poised for growth, with companies exploring alternative sources such as sugarcane and vegetable oils to meet demand. Europe currently leads in squalene production sourced from vegetable oils, albeit facing supply irregularities. These market dynamics underscore the need for sustainable sourcing practices and innovative solutions to ensure market stability and growth.

Market Analysis

Driven by escalating demand for natural ingredients, coupled with rising consumer awareness regarding skincare, the Squalene Market experiences robust growth. Factors such as the expansion of the cosmetics sector, the prevalence of health concerns, and the shift towards organic products contribute to market expansion. Additionally, regulatory initiatives favoring plant-based alternatives to shark-derived squalene further stimulate market growth.

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Segment analysis

By Source, the plant segment dominated the Squalene Market due to increasing environmental concerns and regulatory restrictions on shark-derived squalene. Plant-based alternatives sourced from olives, amaranth, and other botanicals are preferred by consumers and manufacturers alike, driving the segment’s growth. By End-Use, the personal care and cosmetics segment leads the market, fueled by the rising demand for natural and organic skincare products. Squalene’s moisturizing and antioxidant properties make it a preferred ingredient in a wide range of cosmetic formulations, including lotions, creams, serums, and masks, driving growth in this segment.

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

Impact of Russia-Ukraine War:

The Russia-Ukraine conflict has affected the Squalene Market as well. The geopolitical tensions disrupt supply chains, leading to uncertainties in raw material procurement and price fluctuations. Given Ukraine’s significant agricultural output, disruptions in the region affect the availability and pricing of raw materials for squalene production. Moreover, geopolitical instability creates economic uncertainties, impacting consumer spending patterns and market dynamics.

Impact of Economic Slowdown

Economic slowdowns pose challenges to the Squalene Market, affecting consumer purchasing power and market demand. Reduced consumer spending on non-essential products, including cosmetics and personal care items, dampens market growth. Additionally, supply chain disruptions and fluctuating raw material prices further exacerbate the challenges faced by industry players.

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Key Regional Development

Europe emerged as a key player in the Squalene Market, holding the largest revenue share in 2023. The region’s dominance can be attributed to several factors, including stringent regulations favoring plant-based alternatives, technological advancements in squalene production, and a robust cosmetics industry. Moreover, Europe’s focus on sustainability and ethical sourcing aligns with consumer preferences, driving market growth. The region’s leadership in vegetable oil-based squalene production underscores its commitment to environmental conservation and innovation in the cosmetics sector.

Key Takeaways for Squalene Market

• Growing demand for natural ingredients and organic products fuels market growth.
• Regulatory initiatives promoting sustainable sourcing practices and ethical alternatives drive industry innovation.
• Europe’s leadership in the Squalene Market underscores the importance of sustainability and regulatory compliance in driving industry growth.

Recent Developments

• In July 2023, SOPHIM introduced a soothing and moisturizing massage oil designed to restore the skin’s lipidic film, offering protection against external aggression.
• SOPHIM launched a moisturizing foot mask in June 2023, formulated to restore the lipid barrier for long-lasting protection against external aggressors and dryness.
• Amyris announced a partnership with Croda International Plc. in May 2023 to supply pharmaceutical-grade squalene in adjuvants, aiming to boost immune response.
• In August 2021, Amyris, Inc. launched Rose Inc., a clean color cosmetics brand featuring non-comedogenic formulas developed with sustainably sourced ingredients, including squalene and hemisqualane.
• Amyris, Inc. introduced Pipette, a squalene-based hand sanitizer, in April 2020, under its No Compromise Pipette baby care brand, containing plant-based ethyl alcohol and sugarcane-derived squalene for moisturizing benefits.

Table of Contents – Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
   • COVID-19 Impact Analysis
   • Impact of Ukraine- Russia war
   • Impact of ongoing Recession
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Squalene Market Segmentation, By Source
9. Squalene Market Segmentation, By End-use
10. Company Profiles
11. Competitive Landscape
12. Use Case and Best Practices
13. Conclusion

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