Squalene Market Size, Share, Growth Analysis, By End use(B2B, B2C, and others), By Application(Cosmetics and personal care, dietary supplements and functional foods, pharmaceutical, industrial), By Source(Vegetable based, animal based and others), By Region - Industry Forecast 2024-2031

Squalene Market size was valued at USD 152.72 million in 2022 and is poised to grow from USD 163.10 million in 2023 to USD 276.08 billion by 2031, growing at a CAGR of 6.80% during the forecast period (2024-2031).

The squalene market is highly competitive, with several players operating in the industry. These companies compete based on factors such as product quality, innovation, pricing, and distribution channels. The market is characterized by a few large players dominating the market share, while smaller players struggle to gain a foothold due to the high production costs and limited availability of raw materials. The dominant players in the squalene market have a significant advantage in terms of economies of scale, distribution networks, and brand recognition. They invest heavily in research and development to innovate and improve their product offerings, further consolidating their market position. Smaller players in the market focus on niche markets or specific product applications, such as skincare, personal care, or nutraceuticals, to differentiate themselves from the larger players. They rely on their flexibility and ability to respond to changing market trends and consumer preferences to remain competitive. The squalene market is also influenced by regulatory factors, particularly in the food and pharmaceutical industries, which can pose challenges for smaller players with limited resources. Compliance with regulations can be costly, time-consuming, and require specialized expertise. 'Sophim', 'Kishimoto Special Liver Oil', 'New Zealand Green Health', 'Arista Industries', 'SeaDragon Marine Oils Limited', 'Nucelis LLC', 'Amyris, Inc.', 'Maruha Nichiro Corporation', 'EFP', 'Carbomer', 'Ekiz Olive Oil and Soap Inc.', 'Atrium Innovations Inc.', 'Empresa Figueirense de Pesca', 'Koyo Mercantile Co., Ltd.', 'FMC Corporation', 'Merck KGaA', 'Croda International Plc', 'R&S Pharmchem Co., Ltd.', 'Gracefruit Limited', 'The Lubrizol Corporation', 'In February 2023, In a move to expand its product portfolio, Givaudan, the leading provider of flavors and fragrances worldwide, announced the acquisition of specific cosmetic ingredients from Amyris, a biotechnology company based in California. This deal includes Amyris' squalane, derived from sugarcane and a sustainable substitute for the squalane found in the livers of deep-sea sharks.'

Squalene has gained attention as a functional ingredient in the food industry due to its potential health benefits. It is believed to have immune-boosting and anti-inflammatory properties, making it a valuable ingredient in the development of functional foods and nutraceuticals. The demand for functional foods and nutraceuticals has contributed to the growth of the squalene market in the food industry. Functional foods are those that have been enriched with specific nutrients or functional ingredients and are designed to provide health benefits beyond basic nutrition. Nutraceuticals are products that contain bioactive compounds with potential health benefits. Its potential health benefits have made it a popular ingredient in functional foods and nutraceuticals, such as dietary supplements and fortified foods. It is commonly used in the development of products targeted toward immune health, cardiovascular health, and inflammation management.

There is a growing interest in functional foods and nutraceuticals among consumers, which has resulted in an increased use of squalene in these products. This demand can be attributed to the potential health benefits associated with squalene, including its immune-boosting and anti-inflammatory properties. As a result, squalene is becoming an increasingly popular ingredient in the development of products aimed at promoting immune health, cardiovascular health, and inflammation management. This trend has contributed to the growth of the squalene market and is expected to continue in the future.

As of 2021, the squalene market was dominated by the Asia Pacific region, which accounted for the largest share of the market. This region's growth can be attributed to the rising demand for squalene in various industries, including cosmetics, pharmaceuticals, and food. With the increasing consumer awareness regarding the health benefits of squalene and the growing demand for natural ingredients in cosmetics and personal care products, the demand for squalene in the Asia Pacific region will enhance in the forecasted period.