Analysis of Squalene market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Worldwide consumption of squalene is projected to increase at an impressive CAGR of 12.2% from 2022 to 2032. The global squalene market currently accounts for a valuation of US$ 21.12 billion and is estimated to surge to US$ 66.36 billion by the end of 2032.
Hydrogenation of squalene results in the formation of squalene, and as focus on personal care bolsters, demand for squalane is expected to increase substantially over the coming years.
Squalene Market Size (2022)
US$ 21.12 Billion
Predicted Market Value (2032F)
US$ 66.36 Billion
Estimated Growth Rate (2022-2032)
Europe Squalene Market Size (2032)
US$ 14.95 Billion
China Squalene Market Value (2022)
US$ 2.56 Billion
Key Companies Profiled
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Squalene has emerged as a popular choice in several end-use industry verticals owing to the increasing popularity of its beneficial properties of UV protection, anti-aging effects, etc. Squalene is preferred for skin care as it has anti-aging and UV protection properties.
From 2017 to 2021, the squalene market expanded at a CAGR of 9.6%. People across the world are more aware of their personal care needs than ever before and this has propelled the demand for personal care products for skin, hair, etc.
Squalene has beneficial properties for skin and is already present in human skin in small quantities. Its anti-aging effects are promoting sales of squalene moisturizers, squalane oils, squalane cleansers, and other products across the world.
Squalene provides UV protection and is capable of protecting most sources of oxidative damage. This has fueled the use of squalene in pharmaceutical formulations to reduce its side effects. Increasing incidence of cancer is also expected to drive shipments of squalene as it is used with various medications and radiation therapies.
High investments in research and development activities are also expected to favor squalene market potential through 2032. Biosynthetic squalene is expected to witness high demand as research bolsters over the years to come.
However, the ban on fishing of sharks in various regions and the high costs associated with the production of synthetic squalene and hydrogenated squalene is anticipated to have a hampering effect on the global squalene market potential.
The squalene market is projected to witness expansion at an astronomical CAGR of 12.2% from 2022 to 2032.
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“High Costs of Synthetic Squalene Production & Low Availability of Shark Liver”
Squalene production has emerged as a major challenge for all market players in the squalene marketplace. Owing to the overfishing of sharks, various governments across the world have implemented bans and restrictions on fishing in order to save species from endangerment.
Also, rising consumer awareness and changing preference toward plant-based squalene is expected to provide manufacturers with new challenges. Production of squalene from plant-based products is a costly affair and the resultant squalene is not as pure as the one derived from animal sources.
These factors obstruct the growth of the squalene industry at present and are expected to be prevalent over the forecast period as well.
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“Europe & North America to Hold Major Market Share”
North America leads the global squalene marketplace and is predicted to maintain this stance across the forecast period. High consumer spending potential is driving sales of cosmetics and personal care products which in turn is driving sales of squalene in the region.
Increasing demand for dietary and nutritional supplements in this region is expected to favor the consumption of squalene supplements over the years to come. The North America squalene market accounts for a major market share of 35.7% in 2022 and is estimated to progress at a phenomenal CAGR of 13.3% throughout the forecast period.
Europe is also expected to be a highly opportune market for squalene manufacturers owing to the increasing focus on personal care and the high spending potential of the population in this region. Demand for high-quality personal care products and premium cosmetics in this region will prominently increase squalene shipments.
Moreover, the presence of key personal care product manufacturers and suppliers in this region is expected to further bolster squalene market potential through 2032. The rising preference for natural products is anticipated to boost vegetable source squalene sales in Europe over the years to come.
At present, the Europe squalene market stands at a valuation of US$ 5.19 billion and is slated to expand at an impressive CAGR of 11.2% across the forecast period.
Increasing disposable income in the Asia Pacific region is expected to significantly influence the demand for squalene in this region. The aforementioned factor fuels the spending potential of consumers and coupled with an increased awareness of personal care these factors will favor squalene consumption.
The APAC squalene market is predicted to increase at a CAGR of 12.8% over the forecast period and is estimated to account for a prominent market share of 30.2% by 2032.
Fact.MR, a market research and competitive intelligence provider, has compiled a new research report on the squalene market with a complete regional assessment of all current and future market trends.
“High Demand for Quality Personal Care Products in Germany”
Germany is anticipated to lead the squalene market growth in Europe. The country is witnessing high demand for cosmetics and personal care products that utilize squalene as it has proven anti-aging qualities. Rising demand for high-quality products and luxury care products in the country are expected to bolster squalene consumption in Germany.
The aforementioned factors make Germany a rewarding market for squalene vendors. The market for squalene in Germany is slated to evolve at a CAGR of 11.3% and attain a valuation of US$ 3.32 billion by 2032.
“Rising Consumption of Dietary Supplements Aiding Market Expansion”
The United States is a prominent market for squalene and is slated to maintain this stance over the coming years. The U.S. squalene market is expected to hold a dominant market share of 86.2% in the North America landscape by the end of 2032.
Increasing awareness of personal care, high consumer spending potential, and the presence of a robust retail infrastructure are some prominent factors that influence squalene demand in the United States.
Rising geriatric population and poor lifestyle habits are also expected to increase the demand for nutritional and dietary supplements in the country. Sales of squalene supplements are anticipated to have a bright outlook in the U.S. and are expected to significantly influence market growth in the country.
“High Purity & Lower Prices than Vegetable-based Squalene Driving Sales of Animal-based Squalene”
Squalene is majorly obtained by extraction from shark liver. The squalene obtained through this process is pure in quality and comes at a lower price than plant-based squalene. However, despite a high preference for shark squalene, its sales have seen a declining trend over the past few years as shark fishing activities are being restricted to constrain overfishing.
Shark squalene demand is also expected to witness a drop as consumer skepticism around animal-derived products increases.
Despite all of the aforementioned factors animal-sourced squalene segment is expected to account for a major market share across the forecast period. The segment currently accounts for a value of US$ 12.25 billion in 2022 and is projected to attain a dominant market share of 62.5% by 2032.
Demand for vegetable-based squalene is expected to increase at a CAGR of 11.3% across the forecast period.
“Consumption of Squalene in Cosmetics Industry to Lead Demand Outlook”
Focus on personal care has increased substantially over the past few years and this has led to an increase in demand for cosmetics and other personal care products. Rising consumer preference for high-quality products and high spending potential owing to increasing disposable income are anticipated to drive demand for cosmetics and other personal care products over the years to come.
Squalene for skin care applications is anticipated to witness high demand over the coming years. The use of squalene in the cosmetic industry accounts for a valuation of US$ 7.92 billion in 2022 and is predicted to evolve at a CAGR of 13.1% through 2032.
Demand for squalene in pharmaceutical applications is slated to account for a value of US$ 20.11 billion by 2032 and currently accounts for a market share of 31.6% in 2022.
Key squalene manufacturers are majorly focusing on research and development of new methods to create squalene from plant-based sources as shark squalene is declining in availability. Squalene companies are deploying innovative strategies to expand their business potential and strengthen their market stance on a global level.
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In 2022, the global squalene market stands at US$ 21.12 billion.
It is predicted that the squalene market will reach a valuation of US$ 66.36 billion by 2032.
Between 2022 and 2032, the global market for squalene is expected to surge at a CAGR of 12.2%.
Increasing use in cosmetics, rising demand for squalene in pharmaceutical formulations, and growing investments in R&D are expected to be prominent trends driving squalene sales over the coming years.
Cosmetics industry is predicted to lead global demand for squalene, with the segment currently accounting for a value of US$ 7.92 billion.
Key manufacturers of squalene are Sophim, Amyris, Arista Industries Inc., SeaDragon Marine Oils Limited, Nucelis LLC, Ekiz Olive Oil & Soap Inc., Kishimoto Special Liver Oil Co. Ltd., and Empresa Figueirense De Pesca Ldaare.
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