Rising Demand for Cruelty-Free Squalene Products Boosts Market Growth

The global sales of the squalene oil market were valued at $209 million in 2023. With a projected growth rate of 9.3% from 2023 to 2033, the market is anticipated to reach approximately $510.7 million by the end of the forecast period.

Squalene oil is gaining prominence in the global market due to its versatile applications and beneficial properties. Derived from natural sources such as shark liver oil and plant oils, squalene is a crucial ingredient in cosmetics, pharmaceuticals, and health supplements. Known for its moisturizing and antioxidant properties, squalene oil is valued for its ability to improve skin hydration, enhance the efficacy of skincare products, and support overall skin health. As consumer awareness of natural and sustainable ingredients grows, the demand for squalene oil continues to rise, influencing market trends and dynamics.

Market Insights

The squalene oil market is characterized by a growing interest in natural and organic ingredients, reflecting a broader trend towards cleaner and greener products. Consumers are increasingly seeking products that contain squalene oil due to its skin-nourishing benefits and its role in promoting a healthy complexion. The rise of clean beauty movements and the shift towards sustainable sourcing of ingredients are shaping market dynamics. Additionally, advancements in extraction technologies and the development of plant-based alternatives to shark-derived squalene are contributing to market growth and diversification.

Future Outlook

The future outlook for the squalene oil market is optimistic, driven by several key factors. The increasing adoption of natural and organic personal care products is expected to sustain demand for squalene oil, particularly in skincare and haircare formulations. Additionally, the growing awareness of the benefits of squalene oil in health supplements is likely to drive market expansion. However, the industry must navigate challenges related to sustainable sourcing and regulatory compliance to ensure continued growth and consumer trust.

Dynamics and Growth Factors

The squalene oil market is influenced by a range of dynamics and growth factors. One of the primary drivers is the increasing consumer preference for natural and eco-friendly ingredients in personal care and health products. The rising demand for squalene oil is also supported by its proven benefits, such as enhanced skin hydration, anti-aging effects, and antioxidant properties. Furthermore, innovations in extraction methods and the development of sustainable, plant-based squalene alternatives are contributing to market growth. Regulatory changes and consumer education regarding the benefits of squalene oil are additional factors influencing the market.

List of Key Companies Profiled in The Report

• 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
• Others

Market Opportunities

The squalene oil market presents several opportunities for growth and innovation. The increasing demand for natural and organic personal care products provides a significant opportunity for market expansion. Additionally, the development of new squalene oil applications in health supplements and pharmaceuticals offers potential for increased market penetration. Companies that invest in sustainable sourcing practices and advanced extraction technologies are well-positioned to capitalize on these opportunities and meet the evolving needs of consumers.

Market Trends

Current trends in the squalene oil market include a heightened focus on sustainability and ethical sourcing. Consumers are increasingly interested in products that feature responsibly sourced squalene oil, whether from plant-based sources or certified sustainable shark liver oil. The market is also witnessing a rise in the use of squalene oil in innovative formulations, such as multifunctional skincare products and targeted health supplements. Additionally, the growth of the clean beauty movement is driving demand for high-quality, natural ingredients, positioning squalene oil as a key component in the future of personal care and wellness products.

Notable Developments

Notable developments in the squalene oil market include advancements in sustainable sourcing practices and the introduction of new plant-based squalene sources. Companies are increasingly adopting eco-friendly extraction methods and pursuing certifications to ensure responsible sourcing. Furthermore, there has been a surge in research and development efforts aimed at enhancing the efficacy and stability of squalene oil in various applications. These developments reflect the market's ongoing commitment to innovation and sustainability, positioning squalene oil as a valuable ingredient in the evolving landscape of personal care and health products.

Competitive Analysis

Companies in the squalene oil sector are implementing strategies to sustain growth, driving market expansion.

Recent developments include:

May 2023: Amyris signed an agreement with Croda International Plc to supply sustainable squalene, produced via biofermentation on its Lab-to-Market platform.

February 2023: Croda International Plc acquired Solus Biotech to access its ceramide, phospholipid, and natural retinol technologies, enhancing its Asian manufacturing and R&D capabilities.

February 2023: Amyris partnered with Givaudan to supply cosmetic ingredients such as Neossance Squalene and Neossance Hemisqualene.