Squalene Market to Grow by USD 62.9 Million from 2024-2028, Driven by Rising Adoption of UVA/UVB Filters in Sunscreens, Report Powered by AI - Technavio

NEW YORK, Sept. 17, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global squalene market size is estimated to grow by USD 62.9 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.79% during the forecast period. Increasing acceptance of uva/b filters in sunscreens and sun protection cosmetics is driving market growth, with a trend towards squalene derived from renewable resources. However, stringent safety regulations on uv sun care products poses a challenge. Key market players include Amyris Inc., ARISTA INDUSTRIES, BOCSCI Inc., Cibus, Croda International Plc, Evonik Industries AG, Gracefruit Ltd., KISHIMOTO SPECIAL LIVER OIL CO. LTD., KURARAY Co. Ltd., LBB Specialties LLC, MacroCare Tech Ltd., Majestic Mountain Sage Inc., Maruha Nichiro Corp., Maypro Group, Micro Capsule Technologies, New Zealand Green Health Ltd., Parchem Fine and Specialty Chemicals Inc., Seadragon, Sophim, and VESTAN.

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Market Driver

Squalene, a natural hydrocarbon, is increasingly derived from renewable sources such as vegetables and olives. Olive oil is a significant source due to its high squalene content. Renewable squalene production is expanding in countries with abundant olive cultivation, including Greece, Portugal, Italy, France, Spain, the US, Australia, Turkey, and Austria. Sugarcane is another source, yielding squalene of higher quality and purity. Squalene is used in skin treatments and personal care products derived from olive oil and sugarcane. Additionally, squalene is sourced from tobacco and a new yeast-like fungus, Pseudozyma, for commercial production. Genetic modification and metabolic changes have enhanced squalene production, leading to the development of industrial-scale, squalene-hyperproducing strains. This trend towards renewable squalene sources is anticipated to continue, positively impacting the global squalene market's growth during the forecast period. 

Squalene is a popular ingredient in the personal care industry, used in creams, serums, oils, and masks for its excellent moisturizing properties. Traditionally sourced from shark liver oil, concerns over animal welfare and sustainability have led to the exploration of renewable sources. Sugarcane and olive-derived squalene are now common alternatives. Vegetable-sourced squalene, also known as squalane, is gaining popularity due to its lower toxicity and compatibility with various formulations. Emollients in lotions, hair conditioners, bath oils, lipsticks, foundations, and even vaccines benefit from squalene's ability to reduce the oxidation of other ingredients and enhance their efficacy. Squalene's role in the cosmetics sector extends to cleansing ingredients in various personal care products. In the nutritional supplement market, fish oil and shark liver oil remain significant sources of squalene, contributing to immune response and vaccine development. Renowned companies like GlaxoSmithKline, Sanofi S, and CureVac N are investing in squalene research for its potential as an adjuvant in flu vaccinations, enhancing immunogenicity and antigen dosage sparing. However, the use of squalene in vaccines has raised concerns regarding its potential toxicity and heterologous antibody responses. The oncology segment is also exploring squalene for its potential role in cancer treatment. Overall, the versatility of squalene makes it an essential raw material in various industries, from personal care to pharmaceuticals. 

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 Market Challenges

• The global squalene market faces significant challenges due to increasing regulations on the manufacturing, packaging, and distribution processes of products that contain squalene. Suncare products, which include cosmetics, personal care items, and food supplements, are subject to stringent regulations under the US Federal Food, Drug, and Cosmetic Act (FDCA). The FDCA governs processing, formulation, safety, manufacture, packaging, labeling, and distribution of these products. In the US, the Natural Cosmetics/Personal Care Goods Safety Act and the Federal Trade Commission (FTC) further regulate cosmetics and personal care products. Recent regulatory updates, such as the FDA's proposed rule on OTC sunscreens, impose new requirements on sunscreen products, including broad-spectrum protection and SPF details. These regulations increase the complexity and cost of production, hindering market growth for UV sun care products and, consequently, the demand for squalene in this segment. Other packaging restrictions also add to the challenges. Despite these hurdles, the market for squalene is expected to continue growing due to its wide range of applications and benefits.
• The Squalene market in the cosmetics sector is growing due to the demand for effective emollients in lotions, hair conditioners, bath oils, lipsticks, and foundations. However, challenges exist regarding the toxicity of squalene derived from sharks and fish oil, leading to the exploration of plant-based alternatives like olive oil, rice bran, Amaranth olive, and terpene oils. Free radicals and the aging process are major concerns for skin health, making squalene an essential cleansing ingredient. In the pharmaceutical industry, squalene is used in vaccines as an adjuvant to enhance immunogenicity and reduce antigen dosage sparing. Companies like GlaxoSmithKline, Sanofi S, and CureVac N are investing in the Oncology segment using squalene in anti-aging treatments. Nutraceutical firms also use squalene from tobacco crops and synthetic sources for nutritional supplements. The MMPA regulation may impact the market, but the demand for plant-based squalene continues to grow.

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Segment Overview 

This squalene market report extensively covers market segmentation by 

1. End-user 
• 1.1 Cosmetic and personal care products
• 1.2 Food supplements
• 1.3 Pharmaceutical
2. Type 
• 2.1 Vegetable
• 2.2 Animal
• 2.3 Biosynthetic
3. Geography 
• 3.1 Europe
• 3.2 APAC
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Cosmetic and personal care products- The global squalene market is primarily driven by the cosmetics and personal care sector, with squalene and squalane being key ingredients due to their skin benefits. Squalene, a natural organic substance, is sourced from olives, wheat germ oil, and rice bran. It acts as a precursor to cholesterol and aids in skin moisturization and protection. Squalane, derived from squalene through hydrogenation, is a stable form for skincare products. Both offer moisturizing, anti-aging, anti-inflammatory, and healing properties. In cosmetics, they're used in hair care, makeup, skincare, and sunscreen products. They improve skin texture, reduce fine lines, protect from environmental stressors, and strengthen the skin's barrier function. Squalane is lightweight, noncomedogenic, and suitable for all skin types. Its humectant property retains skin moisture and has antibacterial properties. The expanding cosmetics industry, growing consumer spending, and increasing demand for premium products fuel the market's growth during the forecast period.

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Research Analysis

Squalene is a natural hydrocarbon found in various sources, including shark liver oil and certain plant-based sources like olives, rice bran, amaranth oil, and sugarcane. In the personal care and cosmetics sector, squalene is widely used as an emollient due to its excellent moisturizing properties. It is commonly found in creams, serums, and oils, and is known for its ability to penetrate deep into the skin, making it an effective anti-aging ingredient. Animal-sourced squalene, primarily from shark liver oil, has faced controversy due to concerns over shark populations and toxicity. However, the cosmetics industry has shifted towards vegetable-sourced squalene as a more sustainable and ethical alternative. Free radicals are unstable molecules that can damage skin cells and contribute to the aging process. Squalene is a potent antioxidant that helps protect the skin from damage caused by free radicals. The MMPA (Marine Mammal Protection Act) regulates the harvesting of shark liver oil, ensuring that it is sustainably sourced. Nutraceutical firms also use squalene for its health benefits, such as reducing inflammation and improving skin elasticity. Terpene oils, like tea tree oil and sandalwood oil, can be rich sources of squalene. Tobacco crops are also being explored as a potential source of squalene, but its extraction is still under research. Overall, squalene is a versatile ingredient with numerous applications in personal care and cosmetics, as well as in nutraceuticals, and its sourcing is becoming increasingly sustainable and ethical.

Market Research Overview

Squalene is a natural hydrocarbon found in various organisms, including sharks, olives, and sugarcane. In the personal care industry, squalene is widely used as a raw material for creating emollients in creams, serums, oils, masks, lotions, hair conditioners, bath oils, lipsticks, foundations, and more. Squalene's ability to mimic the skin's natural oils makes it an excellent moisturizing agent and cleansing ingredient. Animal-sourced squalene, primarily obtained from shark liver oil, has raised concerns regarding the impact on shark populations. Renewable sources, such as sugarcane and vegetable-sourced squalene, have gained popularity as alternatives. Squalene's antioxidant properties help protect the skin from free radicals and the aging process. Beyond personal care, squalene is also used in vaccines as an adjuvant to enhance immunogenicity and reduce antigen dosage sparing. Companies like GlaxoSmithKline, Sanofi Pasteur, and CureVac are some key players in this segment. Squalene's use extends to the oncology segment for its potential anti-aging properties and as a component in terpene oils, such as amaranth oil and rice bran oil. Squalene's applications go beyond personal care and cosmetics. It is also used in nutraceuticals and nutritional supplements, such as fish oil and plant-based squalene. In the pharmaceutical industry, squalene is used as a raw material for producing synthetic squalene for various applications, including flu vaccinations. However, it is important to note that while squalene is generally considered safe, there have been reports of allergic reactions and toxicity in some individuals. Therefore, it is essential to use squalene-containing products responsibly and consult a healthcare professional if any adverse reactions occur.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Cosmetic And Personal Care Products
• Food Supplements
• Pharmaceutical
• Type
• Vegetable
• Animal
• Biosynthetic
• Geography
• Europe
• APAC
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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