Squalene Oil Market is Expected to Grow at a CAGR of 9.3% to Top US$ 510.7 Million by 2033

Squalene Oil Market

The Squalene Oil Market in Europe had a market size of US$ 64.7 million in 2022, and is anticipated to achieve a market value of US$ 147.8 million by the year 2033. Norway’s substantial fishing industry and access to shark populations have positioned it as a major exporter of shark liver oil, which includes squalene. The country’s extensive coastline and abundant marine resources play a crucial role in supporting its thriving fishing sector, encompassing the extraction and refinement of fish oil.

A recently published Squalene Oil Market analysis report from Fact.MR unveils that the global sales of Squalene Oil reached US$ 209 million in 2023. The market is anticipated to experience a substantial 9.3% growth from 2023 to 2033, ultimately reaching an estimated value of US$ 510.7 million by the conclusion of the forecast period.

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Squalene oil, once a relatively obscure ingredient, has experienced a remarkable surge in demand in recent years. This natural compound, primarily derived from olive oil, shark liver oil, and other botanical sources, is now making waves across various industries, ranging from skincare to pharmaceuticals.

The Beauty and Skincare Revolution

One of the primary drivers of the rising demand for Squalene Oil is its growing prominence in the beauty and skincare industry. Known for its exceptional moisturizing and skin-protective properties, Squalene has become a go-to ingredient for both established and emerging cosmetic brands. It is valued for its ability to hydrate and nourish the skin without clogging pores, making it suitable for a wide range of skin types. Furthermore, its natural origin aligns perfectly with the increasing consumer preference for clean, green, and sustainable beauty products.

Squalene is celebrated for its remarkable skin benefits. It acts as a powerful antioxidant, helping to protect the skin from environmental stressors, UV radiation, and pollution. This makes it an ideal candidate for anti-aging products and sunscreens. As a result, Squalene Oil is a common feature in products designed to combat wrinkles, fine lines, and UV damage.

Pharmaceutical and Health Applications

Apart from the cosmetics industry, the pharmaceutical sector has also embraced the potential of Squalene Oil. Squalene has immune-boosting properties and is used in vaccines as an adjuvant to enhance the body’s response to immunization. Its role in vaccines, especially during the COVID-19 pandemic, has brought increased attention to its potential in the healthcare industry.

Squalene is also valued for its potential cardiovascular benefits. It can help regulate cholesterol levels and reduce the risk of heart diseases, which has prompted its use in dietary supplements and health products. The versatility of Squalene Oil across different sectors has made it an attractive ingredient for businesses and consumers alike.

Sustainability and Ethical Sourcing

A significant factor contributing to the growth of the Squalene Oil market is the emphasis on sustainability and ethical sourcing. Traditionally, Squalene was obtained from shark liver oil, which posed environmental concerns due to overfishing and threats to shark populations. However, many companies have shifted towards sustainable and cruelty-free sources, such as olive oil, amaranth seeds, and sugarcane.

Competitive Landscape: Key players in the Squalene Oil market include Sophim, Henry Lamotte Oils GmbH, Aprinnova, Coastal Exports Corporation, Arista Industries Inc., Croda International Plc, Amyris, Inc., Kishimoto Special Liver Oil Co., Ltd., Matrix Life Science, Arbee Biomarine Extracts Pvt. Ltd., and Jedwards International Inc. These companies are actively strategizing to ensure their sustained growth within the Squalene Oil sector, contributing to the overall market expansion.

Recent Market Developments:

  1. In May 2023, synthetic biotechnology firm Amyris entered into a strategic agreement with Croda International Plc. The primary goal of this collaboration is to provide Croda International with a sustainable supply of squalene. Amyris utilizes its innovative Lab-to-Market technology platform to develop squalene through a biofermentation-based approach.
  2. In February 2023, Croda International Plc completed the acquisition of Solus Biotech, a biotechnology company specializing in the production of beauty actives. This acquisition enables Croda to access Solus’ developed technologies, including ceramides and phospholipids, as well as emerging technologies related to natural retinol. The acquisition of Solus also supports Croda’s expansion of its Asian manufacturing capabilities and the establishment of a new research and development hub in the region.

Segmentation of the Global Squalene Oil Market :

  • By Source Type :
    • Natural Squalene
      • Less than 98% purity
      • 98% and above purity
    • Synthetic Squalene
      • Less than 98% purity
      • 98% and above purity
  • By End Use :
    • Personal Care & Cosmetics
    • Neutraceuticals
    • Pharmaceuticals

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The rising demand for Squalene Oil is not just a trend but a reflection of the changing landscape in the beauty, healthcare, and environmental sectors. Its versatile properties, coupled with ethical and sustainable sourcing practices, make it a key player in the global market. As consumers seek products that align with their values and offer tangible benefits, Squalene Oil is poised to remain in the spotlight for the foreseeable future.

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