Europe Squalene Market Size, Share, Growth Analysis, By Source(Animal, Plant and Synthetic), By End User(Pharmaceuticals, Personal Care & Cosmetics, Nutraceuticals, Food & Beverages), By Region - Industry Forecast 2024-2031

Europe Squalene Market size was valued at USD 40.08 million in 2021 and is poised to grow from USD 43.29 million in 2022 to USD 99.12 million by 2030, growing at a CAGR of 10.6% in the forecast period (2023-2030).

The increased demand for squalene in pharmaceutical applications as an adjuvant for immunological enhancement is one of the primary factors driving consumption. Squalene's capacity to function as an antioxidant and anti-cancer agent is additionally anticipated to lead to a rise in its use in nutraceuticals and food supplements, which will result in higher demand for the substance.

Squalene can be made from both organic and synthetic sources, including plant and animal oils and also chemically synthesized feedstock. Genetically modified yeast cells are used to make artificial squalene. Nonetheless, it is thought to produce the greatest amounts of high-quality squalene when extracted from the liver of deep-sea sharks. The industry changed its focus to obtaining it through plant oils like those from amaranth, olive, rice bran, and others. Olive oil is produced mainly, used, and exported by the European Union, accounting for over 65% of global exports.

The overfishing of sharks is causing growing worries about the extinction of several shark species. As a result, market participants are increasingly paying more attention to squalene derived from synthetic and botanical sources. The largest importers of olive oil from the European Union are Brazil, the United States, and Japan. Spain, which accounts for more than 40% of global production, produces the majority of the olive oil consumed in the world, mainly in Andalusia. Italy provides 20% of the remaining 20%, trailed by Tunisia (18%) and Greece (12%). Since Europe is the world's top producer of olive oil, it is anticipated that the market will grow significantly over the period of forecast.