Squalene Market Summary

The global squalene market size was estimated at USD 149.4 million in 2023 and is projected to reach USD 307.9 million by 2030, growing at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2030. The increasing use of natural and sustainable ingredients in the personal care and cosmetics sector is emerging as a major factor driving market growth. The growing consumer preference for products made with environmentally friendly and skin-safe ingredients is expected to continue supporting the strong demand for squalene across various applications.

Squalene is a translucent, low-odor compound that possesses excellent moisturizing, antioxidant, and emollient properties. These characteristics make it one of the most sought-after ingredients in the global skincare and cosmetics industry. It effectively hydrates the skin, maintains softness, and enhances texture without leaving a greasy residue. Moreover, its non-toxic and biocompatible nature makes it a highly desirable component for use in formulations targeting sensitive skin. Squalene is widely recognized for its ability to neutralize free radicals, helping to reduce oxidative stress and slow down the skin’s aging process, which further increases its popularity in anti-aging products.

The product is extensively utilized as a moisturizing and cleansing ingredient in a wide range of cosmetic and personal care formulations such as lotions, hair conditioners, bath oils, lipsticks, creams, and foundations. The rising demand for natural and organic beauty products has further contributed to the growing consumption of squalene in skincare and haircare applications. Manufacturers are increasingly focusing on developing plant-based squalene to meet the surging demand from environmentally conscious consumers and to align with global sustainability goals. The shift toward renewable and cruelty-free raw materials is also encouraging innovation in extraction and production technologies.

Key Market Trends & Insights

• Europe dominated the squalene market with a revenue share of over 32.8% in 2023. The region’s dominance is primarily due to the strong presence of major cosmetics manufacturers, high consumer awareness regarding skincare, and growing demand for organic personal care products. Stringent regulations supporting the use of natural ingredients in cosmetics and advancements in plant-derived squalene production have further strengthened Europe’s market position.
• Based on end-use, the personal care and cosmetics segment dominated the market with a revenue share of over 70.1% in 2023. This dominance can be attributed to the extensive use of squalene in skincare, haircare, and makeup products due to its superior moisturizing and anti-aging benefits. Increasing product launches featuring bio-based and sustainable ingredients are expected to enhance the growth of this segment in the coming years.
• In terms of source, the plant segment dominated the market with a revenue share of over 82.3% in 2023. The growing shift from animal-derived to plant-based squalene, particularly from sources such as olive oil, sugarcane, and amaranth seed, is driving this segment. The increasing adoption of sustainable and ethical production practices is further expected to promote plant-derived squalene as the preferred choice among manufacturers and consumers.

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Market Size & Forecast

• 2023 Market Size: USD 149.4 Million
• 2030 Projected Market Size: USD 307.9 Million
• CAGR (2024-2030): 10.9%
• Europe: Largest market in 2023

Key Companies & Market Share Insights

The market is fragmented and competitive with presence of several players. Major players are clustered in European and North American regions, whereas several small players are clustered in Asia Pacific, mainly in India, China, and Japan, as the region offers easy access to shark liver oil and olive oil, which are essential raw materials for production of the product.

Partnership strategies have been adopted by the leading players in the market to enhance the reach of their products by leveraging the networks of acquired players and geographic availability. For instance, in May 2023 Amyris announced its partnership with Croda International Plc. in order to supply pharmaceutical-grade squalene in adjuvants to boost the immune response.

Key Players

• 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.

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Conclusion

The squalene market is poised for significant growth driven by the rising demand for natural, sustainable, and high-performance ingredients in personal care and cosmetic applications. Its exceptional moisturizing, antioxidant, and non-toxic properties make it a valuable component in skincare and anti-aging formulations. The transition toward plant-based and eco-friendly alternatives is reshaping the market landscape, encouraging innovation in extraction and synthesis technologies. With increasing consumer awareness, regulatory support for sustainable sourcing, and growing adoption across multiple industries, the global squalene market is expected to witness robust expansion in the coming years.