Global Squalene Market Size, Share and Trends Analysis Report – Industry Overview and Forecast to 2032

Global Squalene Market Size

• The global Squalene Market size was valued at USD 149.68 million in 2024 and is projected to reach USD 291.74 million by 2032, growing at a CAGR of 8.70% during the forecast period.
• Market expansion is primarily driven by increasing demand for natural and sustainable ingredients in cosmetics, pharmaceuticals, and dietary supplements, alongside advancements in extraction technologies.
• Additionally, growing consumer awareness regarding skin health and anti-aging benefits of squalene is fueling product innovation and adoption, which is propelling market growth significantly.

Global Squalene Market Analysis

• Squalene, a natural organic compound widely used in cosmetics, pharmaceuticals, and dietary supplements, is increasingly valued for its moisturizing, antioxidant, and anti-aging properties, driving demand across multiple industries.
• The rising consumer preference for natural and sustainable ingredients, coupled with advancements in extraction and purification technologies, is significantly boosting market growth.
• Europe Dominated the Global Squalene Market with the largest revenue share of 34.8% in 2024, attributed to strong demand from the cosmetic and pharmaceutical sectors, well-established supply chains, and increased investment in research and development by key industry players.
• Asia-Pacific is expected to be the fastest-growing region in the Global Squalene Market during the forecast period, driven by rapid urbanization, growing awareness of skincare benefits, and expanding manufacturing capabilities in countries such as China, Japan, and South Korea.
• The vegetable source segment dominated the market with the largest revenue share of 43.2% in 2024, driven by the increasing consumer shift toward plant-based, ethical, and sustainable ingredients

Report Scope and Global Squalene Market Segmentation    

Global Squalene Market Trends

Growing Preference for Sustainable and Plant-Based Sources

• A significant and accelerating trend in the global Squalene Market is the strong shift toward sustainable, plant-based sources of squalene, driven by ethical concerns, environmental sustainability, and increasing consumer demand for clean-label, vegan-friendly products in cosmetics and personal care.
  • For Instance, companies such as Croda International and Sophim have developed advanced techniques to extract high-purity squalene from plant sources such as olive oil and sugarcane, offering eco-friendly alternatives to traditional shark liver-derived squalene.
• This plant-based shift aligns with the growing trend of corporate social responsibility and regulatory pressures in many countries banning or restricting the use of animal-derived ingredients. Sugarcane-derived squalene, such as that developed by Amyris, Inc., is now widely adopted by leading global skincare brands due to its scalability, sustainability, and performance parity with animal-based squalene.
• Innovations in biotechnology and fermentation processes, particularly those utilizing yeast strains and synthetic biology, are further supporting sustainable production. Companies like Nucelis LLC are leveraging bioengineering to produce squalene at commercial scale without the environmental and ethical issues associated with traditional sources.
• This trend is reshaping procurement and formulation strategies in cosmetics, pharmaceuticals, and dietary supplements, with formulators increasingly selecting sustainable sources as a brand differentiator and compliance strategy.
• The surging demand for ethical, non-GMO, and plant-based skincare and wellness products across North America, Europe, and Asia-Pacific is accelerating the adoption of bio-based squalene, positioning it as the preferred choice for future industry growth.

Global Squalene Market Dynamics

Driver

Growing Demand Driven by Clean Beauty Trends and Pharmaceutical Applications

• The rising global demand for natural, sustainable, and ethically sourced ingredients—especially in the cosmetic and pharmaceutical sectors—is a key driver of growth in the Global Squalene Market.

  • For instance, in March 2024, Amyris, Inc. announced expanded production of its sugarcane-derived squalene through advanced fermentation technology, further meeting the clean beauty industry's demand for high-purity, sustainable ingredients. This shift away from shark-derived squalene is gaining traction among major skincare brands focused on sustainability and transparency.
• As consumers become increasingly aware of ingredient sourcing and its environmental impact, plant- and bio-based squalene is emerging as the preferred choice due to its renewability and ethical production methods. This trend is particularly strong in regions like Europe and North America, where clean beauty and vegan formulations are rapidly becoming industry standards.
• Additionally, squalene’s role in pharmaceutical applications—especially as an adjuvant in vaccines and drug delivery systems—is contributing significantly to its rising demand. The use of squalene in COVID-19 vaccine formulations demonstrated its utility in enhancing immune responses, which is encouraging further R&D and commercial interest.
• The expanding adoption of squalene in dietary supplements, supported by its antioxidant and cholesterol-lowering properties, is also contributing to market growth. As health and wellness trends gain momentum globally, more consumers are seeking multifunctional, naturally derived ingredients like squalene.
• The increasing versatility of squalene across industries—from cosmetics to healthcare—is driving innovation and encouraging investment in sustainable sourcing, ensuring its long-term market potential.

Restraint/Challenge

Sourcing Limitations and Regulatory Constraints on Animal-Derived Squalene

• Despite the growing market, sourcing challenges related to traditional shark liver oil-derived squalene pose a significant restraint, particularly due to environmental and ethical concerns. Overfishing and the endangered status of some shark species have led to increased scrutiny and tightening regulations on shark-based squalene harvesting.
  • For Instance, multiple international conservation organizations and regulatory bodies have called for bans or restrictions on the use of shark-derived ingredients in cosmetics, pressuring companies to transition to alternative sources. This has led to supply volatility and reputational risks for brands still reliant on animal-based squalene.
• While plant-based and biotech-derived squalene alternatives are gaining popularity, their production costs can be significantly higher, particularly in the early stages of scale-up. This creates pricing pressure and may limit affordability for manufacturers in cost-sensitive markets or for products targeting budget-conscious consumers.
• Furthermore, the technical complexity involved in ensuring the same purity, stability, and efficacy as traditional sources can be a challenge for some plant- and yeast-derived alternatives. Companies must invest in R&D and quality assurance to ensure regulatory compliance and product performance.
• Overcoming these restraints will require broader adoption of synthetic biology and fermentation methods, increased investment in plant-based sourcing infrastructure, and clearer global regulations to guide sustainable procurement practices.

Global Squalene Market Scope

The squalene market is segmented on the basis of type and end-use industry.

• By Type

On the basis of type, the Global Squalene Market is segmented into Animal Source, Vegetable Source, and Biosynthetic. The vegetable source segment dominated the market with the largest revenue share of 43.2% in 2024, driven by the increasing consumer shift toward plant-based, ethical, and sustainable ingredients. Squalene extracted from sources such as olives and amaranth is highly favored in cosmetic formulations for its emollient and antioxidant properties, particularly in Europe and North America, where clean beauty trends are strongest. The segment also benefits from regulatory restrictions on animal-derived ingredients in many regions.

The biosynthetic segment is expected to witness the fastest CAGR from 2025 to 2032, fueled by technological advancements in microbial fermentation and synthetic biology. Companies like Amyris, Inc. are leading the development of sugarcane-based squalene through sustainable biotech methods. These alternatives offer consistent quality, scalability, and environmental benefits, making biosynthetic squalene a preferred choice for future formulations.

• By End-Use Industry

On the basis of end-use industry, the Global Squalene Market is segmented into Cosmetic, Pharmaceutical, Food, and Others. The cosmetic segment dominated the market with the largest revenue share in 2024, driven by its widespread use in skincare and personal care products. Squalene is prized for its moisturizing, anti-aging, and skin-repairing properties, making it a key ingredient in serums, creams, and lotions. Rising demand for natural and non-toxic beauty products globally, especially in premium and clean beauty segments, is further boosting cosmetic industry demand.

The pharmaceutical segment is expected to witness the fastest CAGR from 2025 to 2032, primarily due to squalene’s increasing use as a vaccine adjuvant and in drug delivery systems. The success of squalene-based adjuvants in influenza and COVID-19 vaccines has encouraged broader adoption in immunological applications. Additionally, its antioxidant and cholesterol-lowering benefits are driving interest in pharmaceutical and nutraceutical formulations.

Global Squalene Market Regional Analysis

• Europe dominated the Global Squalene Market with the largest revenue share of 34.8% in 2024, driven by the rising demand for natural, sustainable ingredients in cosmetics, pharmaceuticals, and dietary supplements, alongside strong consumer awareness regarding product quality and sourcing.
• Consumers in the region increasingly prefer plant-based and biosynthetic squalene for use in skincare, anti-aging products, and wellness supplements, reflecting a broader shift toward clean beauty and ethical consumption.
• This market leadership is further supported by high R&D investment, advanced extraction and formulation technologies, and strong regulatory frameworks promoting transparency and sustainability. The presence of leading market players, coupled with a high per capita spending on premium personal care and health products, continues to reinforce North America's position as a key contributor to global squalene market growth.

U.S. Squalene Market Insight

The U.S. squalene market captured the largest revenue share of 81% in 2024 within North America, driven by the high demand for clean-label, natural ingredients across cosmetic and pharmaceutical applications. Consumers in the U.S. are increasingly prioritizing skin health, anti-aging solutions, and sustainable beauty products, leading to a surge in demand for plant-based and biosynthetic squalene. Strong R&D capabilities, coupled with a robust presence of biotech companies like Amyris, Inc., support the widespread availability and innovation in squalene formulations. The integration of squalene into dietary supplements and high-end skincare further propels market growth, supported by rising wellness trends and proactive health-conscious behavior.

Europe Squalene Market Insight

The Europe squalene market is projected to expand at a substantial CAGR throughout the forecast period, primarily fueled by strict environmental regulations, a well-established cosmetic industry, and rising consumer preference for vegan and cruelty-free products. The shift away from animal-derived squalene is particularly strong in Europe, encouraging manufacturers to adopt plant-based and biosynthetic alternatives. Countries such as France, Germany, and Italy are seeing strong uptake of squalene in premium skincare, pharmaceuticals, and nutraceuticals. Sustainability, ethical sourcing, and regulatory compliance remain top priorities, making Europe a key region for innovation and long-term demand growth in the squalene market.

U.K. Squalene Market Insight

The U.K. squalene market is anticipated to grow at a noteworthy CAGR during the forecast period, driven by increasing demand for natural cosmetics, rising consumer awareness of ingredient transparency, and sustainability in beauty and wellness products. British consumers are highly engaged with clean beauty trends, favoring brands that utilize plant-based or biosynthetic squalene. Additionally, the U.K.'s strong pharmaceutical sector contributes to growing demand for squalene in drug delivery systems and supplements. Evolving consumer preferences, combined with regulatory focus on ethical sourcing, continue to create new growth opportunities in both personal care and healthcare sectors.

Germany Squalene Market Insight

The Germany squalene market is expected to expand at a considerable CAGR during the forecast period, supported by the country’s innovation-driven approach, environmental consciousness, and a strong base of pharmaceutical and cosmetic manufacturers. German consumers are increasingly choosing vegan, ethically sourced skincare products that include plant-based squalene. Furthermore, the integration of squalene into pharmaceuticals and dietary supplements is gaining momentum due to its antioxidant and immune-boosting properties. Germany’s robust R&D infrastructure, combined with demand for high-quality, sustainable ingredients, continues to position the country as a key hub for squalene consumption and product development.

Asia-Pacific Squalene Market Insight

The Asia-Pacific squalene market is poised to grow at the fastest CAGR of 24% during the forecast period of 2025 to 2032, driven by rapid urbanization, rising disposable incomes, and growing consumer interest in skincare and wellness. Countries such as China, Japan, South Korea, and India are experiencing a surge in demand for squalene in cosmetics, pharmaceuticals, and functional foods. The presence of a large manufacturing base and increasing government support for biotech innovation are boosting the production and accessibility of plant-based and biosynthetic squalene. The shift toward natural ingredients and growing health awareness continue to drive adoption in this dynamic region.

Japan Squalene Market Insight

The Japan squalene market is gaining momentum due to its high standards in skincare, a deeply ingrained culture of wellness, and demand for functional beauty products. Japan has historically used shark-derived squalene, but recent trends show a transition toward plant-based and biosynthetic options, aligned with sustainability goals. The popularity of anti-aging and moisture-retention products in Japan is fueling consistent demand for high-purity squalene. Moreover, the nation’s aging population is a key demographic seeking health supplements and therapeutic formulations that include squalene, supporting growth in both the cosmetic and pharmaceutical segments.

China Squalene Market Insight

The China squalene market accounted for the largest revenue share in Asia-Pacific in 2024, driven by the rapid expansion of the personal care and healthcare industries. China's growing middle class, high skincare spending, and strong manufacturing capabilities make it a critical market for both domestic and international squalene producers. The country is witnessing increased demand for clean-label and natural products, which is encouraging the transition toward plant-derived and biotech-produced squalene. In addition, China's push for pharmaceutical innovation and expansion of its nutraceutical sector further enhances the growth prospects for squalene across multiple applications.

Global Squalene Market Share

The Squalene industry is primarily led by well-established companies, including:

• Amyris, Inc. (U.S.)
• Arista Industries (U.S.)
• BASF SE (Germany)
• Cabot Corporation (U.S.)
• Croda International (U.K.)
• Empresa Figueirense de Pesca, Lda. (Portugal)
• Gracefruit Limited (U.K.)
• Kishimoto Special Liver Oil Co., Ltd. (Japan)
• Kuraray Europe GmbH (Germany)
• Maruha Nichiro Corporation (Japan)
• Nucelis LLC (U.S.)
• Olvea Fish Oils (France)
• SeaDragon Marine Oils Limited (New Zealand)
• Sophim (France)
• SOPHIM Iberia S.L. (Spain)
• Squalan Natural Health B.V. (Netherlands)
• The Merck Group (Germany)
• VESTAN Squalene Hydrogenation (Portugal)
• Wilshire Technologies, Inc. (U.S.)
• Yasham Mitsuya Co., Ltd. (India)

What are the Recent Developments in Global Squalene Market?

• In April 2023, Amyris, Inc., a leading U.S.-based biotechnology firm, announced a major expansion of its sugarcane-derived squalene production capacity in Brazil. This strategic move aims to meet growing global demand for sustainable, non-animal-derived squalene in the cosmetics, pharmaceutical, and nutraceutical sectors. By leveraging its proprietary fermentation technology, Amyris continues to strengthen its leadership in the biosynthetic squalene space while supporting the shift toward ethical and environmentally responsible sourcing practices.
• In March 2023, Croda International Plc, a U.K.-based global specialty chemical company, launched a new high-purity, plant-derived squalene ingredient under its Croda Beauty brand. Targeted at premium skincare and dermatological formulations, the product was developed in response to increasing consumer demand for vegan, cruelty-free, and sustainable cosmetic ingredients. The launch reinforces Croda’s commitment to innovation in green chemistry and enhances its position in the high-growth cosmetic ingredients market.
• In March 2023, Sophim, a French manufacturer specializing in natural emollients, announced the opening of a new production facility in Spain to increase output of its olive-based squalene products. This expansion aims to meet rising demand from European and Asian markets and reduce reliance on traditional animal sources. The facility aligns with Sophim's long-term sustainability strategy and its goal to scale up clean beauty ingredients for global distribution.
• In February 2023, Nucelis LLC, a U.S.-based biotech innovator and subsidiary of Cibus, Inc., revealed progress in its yeast-based fermentation platform for producing pharmaceutical-grade squalene. This development supports the company's efforts to enter the growing vaccine adjuvant and drug delivery markets. Nucelis’ synthetic biology approach offers a scalable, traceable, and ethically sound alternative to shark-derived squalene, further enhancing supply chain transparency for pharmaceutical companies.
• In January 2023, Maruha Nichiro Corporation, a leading Japanese seafood and marine biotechnology company, announced a strategic pivot toward sustainable sourcing by reducing shark-based squalene extraction. The company is investing in partnerships focused on developing plant-based and biosynthetic alternatives. This move aligns with global conservation efforts and responds to increasing regulatory pressure and ethical scrutiny around marine biodiversity protection, positioning Maruha Nichiro as a forward-thinking player in the evolving squalene market.

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