The global squalene market was valued at approximately USD 149.4
million in 2023 and is expected to grow at a compound annual growth rate
(CAGR) of 10.9% from 2024 to 2030. A significant driver of this growth
is the increasing use of natural ingredients within the personal care
and cosmetics industry. Squalene’s transparency, low odor, and
moisturizing properties make it highly valued as an emollient. Due to
its non-toxic nature, squalene is one of the most widely used
ingredients in personal care products. Additionally, squalene oil is
utilized in cosmetics to neutralize free radicals that can damage skin
and contribute to aging.
In cosmetics and personal care, squalene
serves as a moisturizing and cleansing agent in a variety of products,
including lotions, hair conditioners, bath oils, lipsticks, creams, and
foundations. The demand for natural and organic ingredients is
increasing, which positively impacts the squalene market. Beyond
cosmetics, the rising demand for squalene in vaccines also contributes
to market growth. Squalene plays a crucial role in vaccines, such as
those developed for COVID-19, due to its efficacy in enhancing immune
response.
Gather more insights about the market drivers, restrains and growth of the Squalene Market
Squalene
used in vaccines and pharmaceuticals is traditionally derived from fish
oil, specifically sourced from sharks. However, a report by the
International Trade of Endangered Species highlights that five shark
species face extinction, which has led to a reduction in the use of
animal-based sources. Consequently, this shift is encouraging the
development and adoption of plant-based and synthetic squalene
alternatives. Alongside this, the growing interest in nutritional
supplements, the expanding cosmetics industry, and the increasing
prevalence of conditions like cancer and cardiovascular disorders are
also contributing to the demand for squalene. Innovations in renewable
sourcing, as well as attractive marketing and packaging strategies,
provide market players with additional opportunities.
In North
America, the United States is the leading producer and consumer of
squalene. The U.S. market is anticipated to grow significantly, driven
by the booming cosmetics industry. This growth can be attributed to high
levels of engagement with global cosmetic brands and rising demand for
beauty products and services, especially with the increase in the
working women population in the country.
End-use Segmentation Insights:
The
personal care and cosmetics segment dominated the squalene market in
2023, holding over 70.1% of the revenue share. This growth is mainly due
to squalene’s widespread use in various cosmetic products designed for
skin and hair care. Squalene is commonly found in products for sun
protection, skincare, and hair care, with approximately 70-80% of global
squalene production going to the cosmetics industry.
Many
multinational cosmetics companies, including L’Oréal, Unilever, and St.
Botanica, have already started transitioning from shark liver oil-based
squalene to plant-based alternatives due to their effectiveness and
reduced environmental impact. For instance, in 2021, L’Oréal acquired
the U.S.-based skincare brand Youth to the People, which has operations
in the U.S., Canada, Australia, and parts of Europe. Youth to the People
produces skincare products using plant extracts, allowing L’Oréal to
incorporate more plant-based ingredients into its cosmetics, decreasing
reliance on shark-derived sources.
Order a free sample PDF of the Squalene Market Intelligence Study, published by Grand View Research.
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