Squalene Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source (Animal Based Squalene, Plant Based Squalene, Biosynthetic Squalene), By End User Industry (Cosmetics, Pharmaceuticals, Food, Others), By Company, and By Region 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 185.68 Million
CAGR (2026-2031)	11.03%
Fastest Growing Segment	Animal Based Squalene
Largest Market	Asia Pacific
Market Size (2031)	USD 347.86 Million

Market Overview

The Global Squalene Market will grow from USD 185.68 Million in 2025 to USD 347.86 Million by 2031 at a 11.03% CAGR. Squalene is a natural organic triterpene compound widely utilized in the cosmetic, pharmaceutical, and nutraceutical sectors for its exceptional emollient properties and utility as a vaccine adjuvant. The global market is primarily supported by the escalating consumer demand for high-performance anti-aging and moisturizing skincare formulations coupled with the critical need for effective immune-enhancing agents in the medical field. These distinct drivers are reinforced by the substantial commercial scale of the end-use industries which rely heavily on such functional ingredients to meet evolving efficacy standards.

One significant challenge impeding market expansion is the intense ethical and environmental scrutiny surrounding shark-derived squalene which necessitates a complex and often costly transition to plant-based or biosynthetic alternatives. This shift creates supply chain pressures and price volatility that can limit broader ingredient adoption in price-sensitive segments. Despite these operational hurdles, the demand foundation remains robust as evidenced by recent industry data. According to Cosmetics Europe, in 2024, the European cosmetics and personal care market was valued at €96 billion for the preceding year, illustrating the immense economic landscape propelling the consumption of versatile ingredients like squalene.

Key Market Drivers

Surging Demand for Natural and Organic Personal Care Ingredients is a primary catalyst propelling the global squalene market. As consumers prioritize ethical sourcing, manufacturers are rapidly reformulating products to replace shark-derived squalene with sustainable plant-based or biosynthetic alternatives. This transition is accelerated by the "clean beauty" movement, where high-efficacy ingredients for skin barrier restoration are highly valued. Direct evidence of this trend is visible in the performance of major players focusing on active skin health. According to L'Oreal's 2023 Annual Report, released in February 2024, the Dermatological Beauty Division achieved a sales growth of 28.4%, illustrating the appetite for clinically-backed skincare formulations where functional lipids like squalene are essential.

Expanding Application of Squalene in Vaccine Adjuvants serves as the second critical driver, extending the market's value beyond cosmetics. Squalene-based emulsions are integral to modern vaccine development, particularly for influenza, as they enhance immune response and reduce antigen dosage. The commercial success of these adjuvanted solutions continues to strengthen as healthcare providers prioritize effective immunization. According to CSL Limited, August 2024, in the 'Annual Report 2024', CSL Seqirus reported a 14% increase in sales for its adjuvanted influenza vaccine, FLUAD, highlighting the reliance on squalene-enhanced measures. This robust demand for functional raw materials is mirrored across the supply chain. According to Bloomage Biotech, in 2024, the company's raw materials business revenue rose by 11.02% in the first half of the year, underscoring the resilient need for high-quality bioactive ingredients.

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Key Market Challenges

The intense ethical and environmental scrutiny surrounding shark-derived squalene constitutes a significant impediment to the expansion of the global squalene market. Manufacturers are increasingly compelled to abandon cost-effective shark liver oil in favor of plant-based or biosynthetic alternatives to align with sustainability standards. This transition creates severe supply chain pressures and price volatility, as agricultural feedstocks are subject to seasonal yields and complex extraction processes. Consequently, the elevated production costs associated with these ethical alternatives restrict their adoption in lower-margin product segments, effectively capping volume growth in the broader mass market.

This consumer-driven pressure directly translates into market risk for companies failing to adapt. According to Cosmetics Alliance Canada, in 2024, 84% of consumers in the United States indicated they would switch brands to ensure their products did not contain shark-derived ingredients. This widespread rejection of the traditional raw material forces industry players to divert capital toward expensive reformulation and supply chain restructuring rather than market expansion efforts. As a result, the financial burden of compliance slows the overall penetration rate of squalene in the competitive personal care landscape.

Key Market Trends

Commercialization of Biosynthetic Fermentation Technologies is rapidly altering the supply dynamics of the global squalene market as manufacturers seek scalable, high-purity alternatives to volatile marine and botanical sources. This technological shift allows for the consistent production of bio-identical squalane from renewable feedstocks like sugarcane, mitigating the supply chain risks associated with shark liver oil and seasonal olive harvests. The viability of this production method is underscored by the market performance of brands anchored in synthetic biology. According to THG, April 2024, in the 'Preliminary FY 2023 Results', its flagship biotech beauty brand Biossance has generated approximately $300 million in global revenues since inception, demonstrating the substantial commercial appetite for fermentation-derived squalane in premium skincare applications.

Integration into Clean Label and Vegan Beauty Products represents a parallel trend where brand formulators are aggressively pivoting toward certified organic and cruelty-free ingredients to satisfy ethical consumerism. This movement goes beyond simple ingredient substitution, influencing entire product lines to adopt transparent sourcing standards that exclude animal-derived inputs. The resilience of this segment is evident despite broader economic headwinds affecting discretionary spending. According to the Soil Association, April 2024, in the 'Organic Beauty and Wellbeing Market Report 2024', the Health and Personal Care sector of the certified organic market achieved a growth rate of 6% for the reported period, signaling a sustained consumer shift toward rigorously verified, plant-based formulations that utilize ingredients like phyto-squalane.

Segmental Insights

Based on recent market intelligence, the Animal Based Squalene segment is recognized as the fastest growing category within the Global Squalene Market. This rapid expansion is primarily driven by the pharmaceutical industry, where high-purity squalene derived from shark liver oil serves as a critical ingredient in vaccine adjuvants. Unlike some alternatives, animal-derived squalene offers a specific purity and stability profile that is widely accepted by regulatory frameworks for injectable formulations. Consequently, the increasing global production of influenza and prophylactic vaccines has accelerated the demand for this segment, securing its position as the leading growth driver.

Regional Insights

Asia Pacific dominates the global squalene market, primarily driven by substantial demand from the cosmetics and pharmaceutical sectors in Japan, China, and South Korea. The region benefits from a deep-rooted consumer preference for natural ingredients in skincare and dietary supplements, which sustains high product consumption. This market position is supported by established manufacturing hubs that ensure efficient supply chains and raw material availability. Furthermore, adherence to safety guidelines from institutions like Japan's Ministry of Health, Labour and Welfare builds consumer trust, reinforcing the region's status as the primary revenue generator for squalene products worldwide.

Recent Developments

• In October 2024, Evonik was honored with the CPHI Pharma Award in the "Sustainability" category for its plant-based squalene product, PhytoSquene. The company was recognized for introducing the first squalene derived from amaranth oil that fully complies with Good Manufacturing Practice (GMP) standards for parenteral drug delivery applications. This breakthrough offers the pharmaceutical sector a high-quality, non-animal derived option for use in vaccine adjuvants and other injectable formulations. The award acknowledged the company’s commitment to transforming its healthcare portfolio with next-generation solutions that support biodiversity while ensuring a reliable commercial supply of critical raw materials.
• In April 2024, Croda Pharma was announced as the winner of the "Best Production/Process Development" award at the 17th Annual Vaccine Industry Excellence Awards. The accolade recognized the company's success in developing a manufacturing process for sustainably sourced squalene that meets the high purity standards required for vaccine adjuvants. This innovation provides a crucial alternative to shark-derived squalene, addressing long-standing ethical and ecological concerns within the pharmaceutical supply chain. The recognition underscored the industry's progress in securing consistent and sustainable sources of this immune-boosting ingredient, which is essential for the formulation of various prophylactic vaccines.
• In March 2024, the National Advertising Division (NAD) of BBB National Programs concluded a review regarding sustainability claims made by Amyris Clean Beauty, Inc. concerning its squalane ingredient. The regulatory body determined that the biotechnology company provided a reasonable basis for the claim that its 100% sugarcane-derived squalane is ethically and sustainably sourced, citing a certification that ensured adherence to specific farming and milling criteria. This decision served as a significant validation for the company's bio-fermented squalane in the competitive ingredient market, although the division recommended modifying other advertising statements to ensure greater precision regarding the environmental impact and specific conservation metrics.
• In January 2024, Sophim, a French manufacturer specializing in natural cosmetic ingredients, entered into a strategic distribution agreement with Essential Ingredients to expand its commercial footprint in North America. This collaboration appointed the US-based distributor as the channel partner for the company’s portfolio, specifically highlighting its olive-derived squalane, throughout the United States and Canada. The partnership was established to leverage the distributor's extensive logistics network and technical expertise, thereby improving the accessibility of sustainable, plant-based emollients for cosmetic formulators in the region. This move aligned with the company’s strategy to meet the rising demand for natural alternatives in the global personal care market.

Key Market Players

• Amyris, Inc
• Merck KGaA
• Kishimoto Special Liver Oil Co., Ltd.
• Sophim
• Empresa Figueirense De Pesca, Lda
• Cibus Ltd.
• Arbee Biomarine Extracts Pvt Ltd
• Nucelis LLC
• Maruha Nichiro Corporation
• Gracefruit Limited

By Source	By End User Industry	By Region
Animal Based Squalene Plant Based Squalene Biosynthetic Squalene	Cosmetics Pharmaceuticals Food Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Squalene Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Squalene Market, By Source:

• Animal Based Squalene
• Plant Based Squalene
• Biosynthetic Squalene

• Squalene Market, By End User Industry:

• Cosmetics
• Pharmaceuticals
• Food
• Others

• Squalene Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE