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According to Fortune Business Insights, the global squalene market size was valued at USD 185.03 million in 2025 and is projected to grow from USD 202.91 million in 2026 to USD 437.36 million by 2034, exhibiting a CAGR of 10.10% during the forecast period. Europe dominated the global squalene market with a 48.00% share in 2025.
Squalene is a naturally occurring organic compound traditionally derived from shark liver oil and increasingly from plant sources such as olive oil, wheat germ, and amaranth seed. It is widely used in cosmetics, pharmaceuticals, and food applications due to its moisturizing, antioxidant, and immune-enhancing properties. Growing demand for natural ingredients and vaccine adjuvants is driving market expansion.
SQUALENE MARKET TRENDS
Rising Demand for Sustainably Sourced and Plant-Based Squalene
Consumers are increasingly shifting toward plant-derived squalene sourced from olives, sugarcane, and amaranth seeds due to sustainability and animal welfare concerns.
MARKET DYNAMICS
MARKET DRIVERS
Increasing Demand from Cosmetics & Skincare Industry
Squalene’s moisturizing and anti-aging properties are boosting adoption in skincare products as consumers prioritize natural ingredients.
Growing Pharmaceutical Use as Vaccine Adjuvant
Squalene-based adjuvants enhance immune response in vaccines, increasing demand from pharmaceutical companies.
MARKET RESTRAINTS
Environmental Concerns over Shark-Derived Sources
Unsustainable shark harvesting and ecological impact limit traditional sourcing and influence regulatory scrutiny.
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SEGMENTATION ANALYSIS
By Source
The animal segment dominated with 55.42% share in 2026, driven by long-standing use of shark liver oil. The plant segment is expected to grow fastest due to sustainability demand.
By End-use Industry
The cosmetics segment led with 70.51% share in 2026, supported by growing adoption in skincare formulations.
SQUALENE MARKET REGIONAL OUTLOOK
Europe
Europe dominated with USD 89.63 million in 2025, driven by sustainability initiatives and cosmetics demand.
North America
North America accounted for 24.00% share in 2025, supported by strong cosmetic industry adoption.
Asia Pacific
Asia Pacific contributed USD 41.21 million in 2025, driven by pharmaceutical growth.
Latin America
Latin America generated USD 7.47 million in 2025, supported by plant-based extraction opportunities.
Middle East & Africa
MEA captured 2.00% share in 2025, driven by demand for clean-label cosmetics.
KEY COMPANIES PROFILED
- Amyris (U.S.)
- Sophim (France)
- Kishimoto Special Liver Oil Co., Ltd (Japan)
- Empresa Figueirrense de Pesca, Lda (Portugal)
- Matrix Life Science Private Limited (India)
- Croda International Plc (U.K.)
- Aasha Biochem (India)
- Evonik Healthcare (Germany)
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KEY INDUSTRY DEVELOPMENTS
- October 2023: Sophim raised USD 21.5 million to expand production capacity.
- October 2023: Evonik launched GMP-quality plant-based squalene.
- May 2023: Croda signed supply agreement with Amyris.
- December 2022: Evonik introduced amaranth oil–derived squalene.
- August 2022: Amyris began industrial-scale production in Brazil.
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