Squalene Market Leading Segments and End-Use Industry Analysis 2025–2032

Squalene Market Leading Segments and End-Use Industry Analysis 2025–2032

According to Fortune Business Insights, The global squalene market size was valued at USD 169.6 million in 2024. The market is projected to grow from USD 185.03 million in 2025 to USD 359.5 million by 2032, exhibiting a CAGR of 9.9% during the forecast period. Europe dominated the squalene market with a market share of 47.88% in 2024.

Squalene is a naturally derived organic compound most abundantly sourced from shark liver oil. It is also found in lesser quantities in certain plant-based sources, including olive oil, wheat germ, and amaranth seeds. Structurally, squalene is a triterpene hydrocarbon with the chemical formula C₃₀H₅₀. In recent years, it has attracted significant interest for its potential health benefits and versatile applications across multiple industries. Due to its excellent moisturizing qualities and its ability to enhance skin hydration and elasticity, squalene is widely utilized in cosmetic and personal care formulations.

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LIST OF TOP SQUALENE COMPANIES:

• Amyris (U.S.)
• Sophim (France)
• Kishimoto Special Liver Oil Co., Ltd (Japan)
• Empresa Figueirrense de Pesca, Lda (Portugal)
• Matrix Life Science Private Limited (India)
• Croda International Plc (U.K.)
• Aasha Biochem (India)
• Evonik Healthcare (Germany)

1. Market Segmentation

End-Use Verticals

• The personal care & cosmetics segment remains dominant, accounting for around 70% of total demand, due to squalene’s moisturizing and antioxidant properties in skin care, serums, creams, and hair care products.

• The pharmaceutical sector, particularly in vaccine adjuvants and drug delivery systems, is the fastest-growing segment. Its importance surged during and after the COVID-19 pandemic, with applications in immune-boosting formulations.

Source Type

• Animal-derived squalene, traditionally extracted from shark liver oil, has historically held significant market share due to low cost and availability.

• Plant-based and biosynthetic sources—from olive oil, amaranth, rice bran, sugarcane, or fermentation processes—are gaining ground due to ethical and sustainability concerns.

2. Regional Landscape

• Europe led the global market in 2024, with a market valuation of approximately USD 81.2 million, representing nearly 48% of global market share. The region's strong preference for sustainable and ethical products supports the dominance of plant-based squalene.

• The Asia-Pacific region is the fastest-growing, driven by rapid expansion in the beauty and pharmaceutical industries, particularly in countries like China, Japan, India, and South Korea.

• Latin America, the Middle East, and Africa are emerging markets with increasing adoption of squalene in both personal care and healthcare industries.

3. Growth Drivers

1. Ethical & Sustainability Trends
   The push for cruelty-free, environmentally friendly, and sustainable ingredients is prompting manufacturers and consumers to move away from shark-derived squalene.

2. Booming Cosmetics Sector
   The rise in demand for clean beauty, anti-aging skincare, and natural ingredients continues to drive squalene use in moisturizers, sunscreens, and other personal care products.

3. Pharmaceutical Advancements
   Squalene’s use in vaccine adjuvants and lipid-based drug delivery systems contributes significantly to market growth, particularly in pandemic preparedness and immunization programs.

4. Biotechnological Innovation
   Breakthroughs in biosynthetic squalene production via sugarcane fermentation or yeast enable high-purity, scalable, and eco-friendly production, reducing dependence on traditional extraction.

6. Outlook & Challenges

Market Forecast

The market is expected to grow from USD 169.6 million in 2024 to USD 359.5 million by 2032, with a CAGR of 9.9%. Plant-based and synthetic sources are expected to increase their share, gradually replacing animal-derived squalene.

Key Challenges

• High production costs of plant-based and biosynthetic squalene compared to traditional sources.

• Supply chain constraints for plant feedstocks such as olive and amaranth.

• Regulatory complexities related to GMO and synthetic ingredient approvals.

• Maintaining quality and consistency in large-scale, sustainable production.

7. Regional Highlights

• Europe: Currently the largest market, with strong regulatory backing for sustainable ingredients and a highly developed cosmetic and pharmaceutical industry.

• Asia-Pacific: Expected to witness the highest CAGR, fueled by rising consumer spending, awareness of ethical beauty, and local pharmaceutical innovation.

• Latin America & Middle East & Africa: Gaining momentum through increased healthcare investments and local cosmetic demand.

🧭 Key Takeaways

Theme	Insight
Market Size	USD 169.6 million (2024) → USD 359.5 million (2032)
Growth Rate	CAGR of 9.9%
Top Region	Europe leads; Asia-Pacific grows fastest
Main Application	Personal care & cosmetics (largest share), followed by pharmaceuticals
Dominant Source Trend	Transition from animal-derived to plant-based and synthetic
Key Players	Amyris, SOPHIM, Evonik, Croda, Matrix Life Science

Information Source: https://www.fortunebusinessinsights.com/squalene-market-110069

The global squalene market is on a path of rapid transformation and growth. The shift toward sustainable, ethical, and biotechnologically advanced production methods is redefining market dynamics. While cosmetics dominate current demand, the rising role of squalene in vaccines and pharmaceuticals is shaping its long-term potential. With robust growth expected through 2032, squalene is well-positioned as a key ingredient in the future of beauty, health, and wellness.

KEY INDUSTRY DEVELOPMENTS:

• October 2023 – Sophim, a company dedicated to producing natural ingredients for personal care and cosmetics, completed a USD 21.5 million funding round which is expected to double the company's production capacity at two its industrial  sites —located in Peyruis, in the south of France, and in Almeria, Spain further accelerating its international expansion.

• October 2023 – Evonik launched a GMP-quality plant-based squalene for commercial and clinical use. This product can be used as an adjuvant component for parenteral drug delivery applications.