Squalene Market to Reach USD 325.44 Million by 2032 as Plant-Based and Biosynthetic Sourcing Accelerates
The Squalene Market is entering a significant transformation phase as demand rises for plant-based, biosynthetic, sustainable, and clean-label ingredients across cosmetics, pharmaceuticals, nutraceuticals, and food applications. According to Maximize Market Research, the global Squalene Market was valued at USD 164.53 million in 2024 and is expected to grow at a CAGR of 8.9% from 2025 to 2032, reaching approximately USD 325.44 million by 2032. The market’s expansion is being supported by increasing demand for sustainable personal-care ingredients, growing adoption of vegan and cruelty-free formulations, advances in biotechnology, and expanding applications in pharmaceutical and nutraceutical products.
Market Estimation, Growth Drivers and Opportunities
Squalene is a naturally occurring triterpene widely recognized for its moisturizing, emollient, antioxidant, and skin-conditioning properties. Its extensive use in creams, serums, moisturizers, hair-care products, and other personal-care formulations has made cosmetics a major demand center. At the same time, pharmaceutical applications, particularly vaccine adjuvants and advanced drug-delivery systems, are creating additional opportunities for high-purity squalene.
A major structural change in the industry is the transition away from traditional shark-derived sourcing toward vegetable and biosynthetic alternatives. Olive oil, amaranth, rice bran, and other botanical sources provide commercially relevant alternatives, while fermentation-based biotechnology enables scalable production from renewable feedstocks. These developments can improve supply resilience while addressing environmental and animal-welfare concerns.
The opportunity landscape is also expanding through premium skincare, clean beauty, vegan cosmetics, nutraceutical formulations, and pharmaceutical-grade ingredients. Increasing consumer awareness of ingredient origin is encouraging manufacturers to invest in traceable and sustainable raw-material supply chains.
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United States Market Trends and Investment
The United States remains an important market for squalene because of its large cosmetics, personal-care, pharmaceutical, and biotechnology industries. During 2025, the U.S. beauty industry placed greater emphasis on ingredient transparency, safety, sustainability, and clearer clean-beauty standards. A 2025 industry initiative involving major beauty retailers and ingredient stakeholders analyzed more than one million ingredients across thousands of U.S. beauty products, highlighting the industry’s increasing focus on ingredient assessment and supply-chain transparency. The U.S. regulatory environment is also evolving under the Modernization of Cosmetics Regulation Act (MoCRA), which expanded FDA authority and introduced requirements involving facility registration, product listing, safety substantiation, and adverse-event reporting. These developments support greater attention to ingredient quality and documentation.
Market Segmentation: Largest Segments
By Source Type, the Plants segment dominated the global Squalene Market in 2024. The segment benefits from growing demand for sustainable and animal-free ingredients, increased awareness of marine conservation, and the availability of squalene from olive, amaranth, and other botanical sources.
By End User, the Personal Care & Cosmetics segment held the dominant position in 2024. Squalene’s compatibility with skin lipids, moisturizing properties, and ability to enhance product texture have encouraged its incorporation into skincare and hair-care formulations. The continued expansion of premium skincare and clean beauty is expected to maintain strong demand.
Competitive Analysis
The competitive landscape is characterized by biotechnology innovation, plant-based extraction, pharmaceutical-grade purification, and strategic partnerships.
Amyris Inc. has played a significant role in developing fermentation-derived squalene. Its biotechnology platform produces sugarcane-derived squalene designed to replace traditional marine sources. In 2025, Amyris identified the commercial launch of squalene as a vaccine-adjuvant ingredient with Croda and highlighted expansion of its Barra Bonita facility to increase production capacity and flexibility.
Croda Inc. has strengthened its position through sustainable vaccine-adjuvant technologies. During 2025, Croda continued development of sustainably sourced squalene and launched cGMP-grade material for customers. The company also expanded customer projects involving human and veterinary applications, supporting wider adoption of non-shark-derived squalene.
Sophim SAS continues to focus on high-purity plant-derived squalene, particularly olive-based solutions. Its positioning around botanical sourcing aligns with the growing demand for clean-label and sustainable cosmetic ingredients.
DSM Nutritional Products maintains a strong presence across nutraceutical, pharmaceutical, and cosmetic applications. Its R&D capabilities, quality systems, and international distribution network support demand for premium-grade squalene.
Kishimoto Special Liver Oil Co., Ltd. represents an important Japanese participant in the squalene supply chain, particularly for high-purity applications. The company has also been identified in the market landscape for pharmaceutical-adjuvant-oriented squalene products.
Regional Analysis: United States, UK, Germany, France, Japan and China
The United States benefits from strong cosmetics, pharmaceuticals, biotechnology, and premium skincare industries. Regulatory developments and increasing interest in ingredient transparency are supporting demand for traceable and sustainable formulations.
The UK offers opportunities through its advanced pharmaceutical and personal-care sectors, while sustainability commitments among ingredient manufacturers are encouraging development of alternative sourcing.
Germany is an important European market because of its established cosmetics, pharmaceutical, and specialty-ingredient industries. Demand for sustainable raw materials and environmentally responsible formulations supports plant-derived squalene adoption.
France remains strategically significant because of its global cosmetics and beauty industry and its established expertise in botanical ingredients. French suppliers such as Sophim contribute to the development of plant-derived squalene solutions.
Japan combines sophisticated skincare demand with pharmaceutical and biotechnology capabilities. The country’s strong preference for high-quality skincare ingredients and advanced formulations provides a favorable environment for premium squalene.
China represents a major growth market because of its expanding cosmetics and personal-care industry. Rising consumer interest in skincare, premium beauty products, and innovative ingredients is supporting squalene consumption. Asia Pacific, led by major beauty markets including China and Japan, remained the dominant regional market in 2024.
Key Players
Key companies identified in the global Squalene Market include Amyris Inc., Seadragon Marine Oils Ltd, Croda Inc., Sophim SAS, DSM Nutritional Products, Sophim North America, EFP Biotek U.S., Nikko Chemicals Co., Ltd., Kishimoto Special Liver Oil Co., Ltd., Carotino Group, Jiaxing Hengjie Bio-Pharmaceutical Co., Ltd., and Kancor Ingredients Ltd.
Why This Market Matters Now
The Squalene Market matters now because the industry is moving beyond conventional sourcing toward sustainable, scalable, and technologically advanced production. Clean beauty, vegan formulations, marine conservation, pharmaceutical supply security, and biotechnology are converging to reshape the market.
Fermentation-derived squalene is particularly important because it can provide a consistent alternative to marine-derived material. Croda’s 2025 activities demonstrate growing pharmaceutical interest in sustainable squalene, including customer projects focused on replacing shark-derived material.
As cosmetic brands seek responsible ingredients and pharmaceutical manufacturers prioritize secure supply chains, investment in plant extraction, precision fermentation, purification technologies, and sustainable sourcing is expected to create new opportunities through 2032.
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