Global Squalene Market Size, Share Analysis Report By Source (Animal, Plants, Synthetic), By Purity (Greater than 95%, 85 to 95%, Less than 85%), By Extraction Method (Molecular Distillation, Supercritical Fluid Extraction (SFE), Counter Current Chromatography (CCC)), By End-use (Personal Care And Cosmetics, Food Supplements, Pharmaceuticals, Others) , By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2025-2034

Report Overview

The Global Squalene Market size is expected to be worth around USD 393.0 Million by 2034, from USD 161.5 Million in 2024, growing at a CAGR of 9.3% during the forecast period from 2025 to 2034.

Squalene is a highly unsaturated hydrocarbon found abundantly in shark liver oil and also synthesized by plants and humans. As an integral part of human sebum, it plays a crucial role in skin hydration and antioxidant defense. The global squalene market has witnessed significant growth, driven by its diverse applications in cosmetics, pharmaceuticals, and food industries.

The demand for squalene has prompted a shift towards more sustainable sources such as olives, amaranth seeds, and rice bran, due to ethical concerns and sustainability issues associated with shark fishing. This shift has catalyzed the development of biotechnological methods for squalene production, which are expected to meet the growing demand efficiently. According to data from the Food and Agriculture Organization, the production of plant-based squalene has been increasing, aiming to substitute for at least 50% of the shark-derived squalene by 2025.

The primary driver for the squalene market is the expanding cosmetics sector, where squalene is prized for its moisturizing and emollient properties. Additionally, its use in dietary supplements for its potential immune-stimulating and antioxidant properties contributes to market expansion. The pharmaceutical industry also utilizes squalene, particularly as an adjuvant in vaccines, a role that gained prominence during the rapid vaccine development efforts for COVID-19.

The growing awareness of the health benefits associated with squalene, including its potential anticancer properties, is anticipated to propel its use in nutraceuticals and functional foods. Moreover, ongoing research supported by government health departments, such as the U.S. National Institutes of Health, which has funded studies exploring squalene’s role in human health, underscores its potential in emerging health applications.

Key Takeaways

• Squalene Market size is expected to be worth around USD 393.0 Million by 2034, from USD 161.5 Million in 2024, growing at a CAGR of 9.3%.
• Animal held a dominant market position, capturing more than a 46.4% share in the global squalene market.
• Greater than 95% held a dominant market position, capturing more than a 58.1% share in the global squalene market.
• Molecular Distillation held a dominant market position, capturing more than a 48.9% share in the global squalene market.
• Personal Care & Cosmetics held a dominant market position, capturing more than a 54.3% share in the global squalene market.
• Europe, the squalene market has carved out a substantial share, commanding 43.6% of the global market with revenues reaching approximately USD 70.4 million.

By Source

Animal source dominates with 46.4% share in 2024, driven by consistent supply and established extraction methods

In 2024, Animal held a dominant market position, capturing more than a 46.4% share in the global squalene market. This strong foothold is largely due to the long-standing and well-established practice of extracting squalene from shark liver oil, which continues to be a consistent and cost-effective source for large-scale production. Despite rising ethical concerns and increasing regulatory scrutiny around animal-derived ingredients, the animal-based squalene segment maintained its lead owing to its widespread use in pharmaceuticals, cosmetics, and nutraceuticals.

By Purity

Greater than 95% purity leads the way with 58.1% share in 2024, backed by high demand in cosmetics and pharmaceuticals

In 2024, Greater than 95% held a dominant market position, capturing more than a 58.1% share in the global squalene market. This high-purity segment continues to be the preferred choice, especially in sensitive applications like skincare, personal care products, and pharmaceutical formulations where quality and performance matter most. The growing awareness around ingredient safety and effectiveness has further pushed manufacturers to opt for squalene with higher purity levels.

By Extraction Method

Molecular Distillation takes the lead with 48.9% share in 2024, thanks to its efficiency and purity output

In 2024, Molecular Distillation held a dominant market position, capturing more than a 48.9% share in the global squalene market. This method has become the go-to choice for many producers due to its ability to deliver high-purity squalene with minimal thermal degradation. It works especially well for both animal and plant-based sources, making it a flexible and efficient option across different raw materials. The technique is widely favored in the cosmetics and pharmaceutical sectors, where maintaining the integrity and quality of squalene is crucial.

By End-Use

Personal Care & Cosmetics leads with 54.3% share in 2024, driven by rising demand for natural and effective skincare products

In 2024, Personal Care & Cosmetics held a dominant market position, capturing more than a 54.3% share in the global squalene market. This segment has consistently been the largest consumer of squalene, mainly due to its proven moisturizing and antioxidant properties. The ingredient is widely used in skincare products like serums, lotions, and anti-aging creams, where consumers are increasingly looking for natural and high-performance alternatives. The clean beauty trend and rising awareness about ingredient sourcing have also played a big role in driving demand.

Key Market Segments

By Source

• Animal
  • Shark Liver Oil
  • Other Animals
• Plants
  • Amaranth Oil
  • Olive Oil
  • Rice Bran Oil
  • Others
• Synthetic
  • Petrochemical
  • Biotechnological

By Purity

• Greater than 95%
• 85 to 95%
• Less than 85%

By Extraction Method

• Molecular Distillation
• Supercritical Fluid Extraction (SFE)
• Counter Current Chromatography (CCC)

By End-use

• Personal Care & Cosmetics
  • Skin Care
  • Hair Care
  • Perfumes
  • Others
• Food Supplements
• Pharmaceuticals
• Others

Drivers

Rising Demand for Natural Ingredients in Cosmetics and Skincare

One of the major driving factors for the growth of the squalene market is the rising demand for natural, plant-based, and skin-friendly ingredients in the personal care and cosmetics industry. Consumers across the globe are becoming increasingly conscious of what they apply to their skin. As a result, they’re turning away from synthetic ingredients and embracing naturally derived components like squalene, especially for their anti-aging, moisturizing, and skin-repairing benefits.

According to a report by the Food and Agriculture Organization (FAO) of the United Nations, global cosmetic and personal care product sales have seen significant growth, with the skincare segment alone expected to exceed $200 billion by 2025. The FAO has also noted the increased use of botanical and marine-based ingredients in cosmetic formulations, reflecting a strong shift towards bio-based alternatives in global beauty trends.

Squalene fits right into this shift. It’s a naturally occurring compound found in human skin, which makes it highly biocompatible and well-absorbed. In particular, plant-based squalene sourced from olives or sugarcane is gaining attention, especially among vegan and cruelty-free product lines. This growing preference is further supported by regulatory changes and government-led clean beauty initiatives. For example, the European Commission has been pushing for safer, greener cosmetic regulations, encouraging the use of ingredients with a low environmental impact and high safety profile.

Restraints

Overfishing of Sharks for Squalene Extraction Threatens Marine Ecosystems

One of the significant challenges facing the squalene market is the overexploitation of shark populations for squalene extraction. Deep-sea sharks, particularly species like the gulper shark (Centrophorus spp.), are targeted for their liver oil, which is rich in squalene. These sharks have slow growth rates and low reproductive capacities, making them highly vulnerable to overfishing.​

In the Maldives, a fishery targeting gulper sharks for their squalene-rich liver oil emerged in the 1980s. However, this fishery collapsed within a few years due to overfishing. The sharks were caught exclusively for their liver, which constituted about 25% of their body weight, and the oil was exported to Japan. This rapid decline underscores the unsustainable nature of such targeted fisheries. ​

The Food and Agriculture Organization (FAO) has highlighted the vulnerability of many shark species to over-exploitation due to their biological characteristics, such as low reproductive potential and slow growth rates. These traits mean that shark populations cannot quickly recover from heavy fishing pressures. ​

To address these concerns, the FAO developed the International Plan of Action for the Conservation and Management of Sharks (IPOA–Sharks) in 1999. This plan aims to ensure the conservation and sustainable use of shark populations. However, the implementation of effective management measures remains a challenge in many regions. ​

Opportunity

Growing Demand for Plant-Based Squalene in Cosmetics and Pharmaceuticals

The global squalene market is witnessing a significant shift towards plant-based sources, driven by increasing consumer awareness and demand for sustainable and ethical products. Plant-based squalene, derived from sources like sugarcane and olives, is gaining popularity as a viable alternative to shark-derived squalene, which has raised environmental and ethical concerns.​

In the cosmetics sector, consumers are increasingly seeking products formulated with natural and sustainable ingredients. Plant-based squalene fits this demand, offering similar benefits to its animal-derived counterpart without the associated ethical concerns. Major cosmetic companies are responding by incorporating plant-based squalene into their product lines, further fueling market growth.​

The pharmaceutical industry is also contributing to the increased demand for plant-based squalene. Its use as an adjuvant in vaccines and its potential health benefits, such as immune system support and cholesterol regulation, make it a valuable ingredient in various medicinal formulations. The shift towards plant-based sources ensures a more sustainable and ethically responsible supply chain for pharmaceutical applications.​

Government initiatives and regulations are supporting this transition. For instance, the European Commission has implemented policies promoting the use of sustainable and environmentally friendly ingredients in cosmetic products. Such regulations encourage manufacturers to adopt plant-based alternatives, thereby reducing reliance on animal-derived squalene.

Trends

Shift Towards Plant-Based Squalene: A Sustainable Trend in Cosmetics and Pharmaceuticals

A notable trend in the squalene market is the increasing shift towards plant-based sources, driven by consumer demand for sustainable and ethical products. Traditionally, squalene was extracted from shark liver oil, raising environmental and ethical concerns. In response, industries are now focusing on plant-derived squalene, obtained from sources like sugarcane and olives.​

In the cosmetics sector, consumers are increasingly seeking products formulated with natural and sustainable ingredients. Plant-based squalene fits this demand, offering similar benefits to its animal-derived counterpart without the associated ethical concerns. Major cosmetic companies are responding by incorporating plant-based squalene into their product lines, further fueling market growth.​

The pharmaceutical industry is also contributing to the increased demand for plant-based squalene. Its use as an adjuvant in vaccines and its potential health benefits, such as immune system support and cholesterol regulation, make it a valuable ingredient in various medicinal formulations. The shift towards plant-based sources ensures a more sustainable and ethically responsible supply chain for pharmaceutical applications.​

Government initiatives and regulations are supporting this transition. For instance, the European Commission has implemented policies promoting the use of sustainable and environmentally friendly ingredients in cosmetic products. Such regulations encourage manufacturers to adopt plant-based alternatives, thereby reducing reliance on animal-derived squalene.

Regional Analysis

In Europe, the squalene market has carved out a substantial share, commanding 43.6% of the global market with revenues reaching approximately USD 70.4 million. This robust market footprint can be attributed to heightened awareness and increasing consumer demand for natural and bio-based products across the European Union. Predominantly, squalene is sourced from both animal and vegetable origins, with a significant pivot towards vegetable sources such as olive oil, amaranth seed, and rice bran, due to ethical and sustainability concerns associated with shark liver oil extraction.

The market in Europe is driven by the burgeoning cosmetics sector, where squalene is highly prized for its emollient and antioxidant properties, making it a staple ingredient in skincare and cosmetic products. Additionally, the region’s stringent regulations regarding cosmetic ingredients have propelled the demand for high-purity, sustainably sourced squalene.

Furthermore, the pharmaceutical sector in Europe utilizes squalene in vaccine adjuvants, a role that has gained prominence especially in the production of vaccines during health crises such as the COVID-19 pandemic. The market’s growth is also supported by research and development activities focused on expanding the application base of squalene into new therapeutic areas, including cancer treatment and immune system enhancement.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of MEA

Key Players Analysis

Amyris is a biotechnology company based in the United States, known for producing sustainable squalene using sugarcane through a fermentation-based process. The company’s bio-based squalene, branded as Neossance®, is widely used in cosmetics and skincare products. Amyris has gained a strong reputation for offering high-purity, vegan, and eco-friendly alternatives to shark-derived squalene, aligning with clean beauty trends. Their focus on innovation and sustainability has helped them become a prominent supplier in the global squalene market.

Based in Japan, Kishimoto Special Liver Oil Co., Ltd. is one of the oldest and most traditional producers of shark liver oil-based squalene. With decades of experience, the company specializes in supplying high-grade animal-derived squalene for pharmaceutical and nutraceutical applications. Despite global shifts towards plant-based alternatives, Kishimoto continues to serve markets that value conventional formulations. Their emphasis on quality control and specialization in liver oil products has kept them relevant in the competitive squalene industry.

SOPHIM is a France-based company that specializes in the production of natural cosmetic ingredients, including plant-based squalene and squalane. The company sources its squalene primarily from olives and focuses on sustainable, eco-friendly production practices. SOPHIM is highly active in the European market and complies with stringent EU cosmetic regulations. Its commitment to traceability, high-purity formulations, and ethical sourcing makes it a preferred supplier for premium cosmetic brands seeking clean-label ingredients.

Top Key Players in the Market

• Amyris, Inc.
• KISHIMOTO SPECIAL LIVER OIL CO., LTD.
• SOPHIM
• Nucelis
• Oleicfat
• Arbee
• Evonik Industries AG
• Gracefruit Ltd
• VESTAN
• Empresa Figueirense de Pesca
• Arista Industries
• Kuraray Co., Ltd
• Other Key Players

Recent Developments

In 2024, Amyris supplied approximately 70% of the world’s squalane, a stable derivative of squalene, significantly reducing reliance on shark-derived sources and contributing to the conservation of marine life.

​In 2024, SOPHIM, a French company specializing in green chemistry, solidified its position in the squalene market by focusing on plant-based squalane derived from olives. Their flagship product, Phytosqualan, is recognized for its moisturizing and antioxidant properties, making it a preferred ingredient in cosmetics. To meet growing demand, SOPHIM invested €20 million to double its production capacity, emphasizing sustainable practices and upcycling.

Report Scope