Executive Summary

The Squalane Market was valued at 129.9 USD Million in 2025 and is projected to reach 265.4 USD Million by 2035, registering a CAGR of 7.4% over the forecast period.

CITES moved gulper sharks to Appendix II at CoP20 in November 2025, raising compliance costs on shark-liver squalene and reinforcing plant-based positions held by Amyris/DSM-Firmenich’s Neossance and Kuraray’s olive-derived squalane.

North America held 32.36% of the market in 2025, ahead of Asia Pacific at 30.44% and Europe at 27.3%. Skin care led end-use demand, and direct B2B ingredient supply captured 56.4% of distribution.

Compliance costs on animal-derived feedstock and grade-by-grade specification qualification remain the principal constraint on substitution. Supply is concentrated among established plant-based producers, including Amyris/DSM-Firmenich and Kuraray, whose olive- and sugarcane-derived capacity anchors current switching.

Key Takeaways

• USD 265.40 Million by 2035, up from USD 129.90 Million in 2025, is a 7.4% compound rate.
• Skin care holds the largest position on end-use application.
• Plant/vegetable-derived (olive, sugarcane, rice bran) holds the largest position on source.
• The largest region is North America, at 32.4% in 2025.
• 8 suppliers are profiled.

Market Definition and Scope

Squalane is the hydrogenated, oxidation-stable form of squalene, sourced from olive, sugarcane, rice bran, shark liver oil or petrochemical synthesis, and supplied as base stock, concentrate or emulsion. Formulators use it as an emollient and carrier oil across skin, hair, sun, color cosmetics, men’s grooming, baby care and dermocosmetic preparations.

Excluded is unhydrogenated squalene supplied for pharmaceutical vaccine adjuvants, a separately governed application, along with industrial hydrocarbon lubricants outside cosmetic specification and unrefined shark-liver oil sold for non-squalane uses.

Growth Drivers and Restraints

Regulatory Pressure on Shark-Liver Feedstock Is Redirecting Formulators to Plant-Derived Squalane

CITES parties added gulper sharks, including Centrophorus granulosus, to Appendix II at CoP20 in Samarkand in November 2025, with the listing taking effect around March 5, 2026. Exporters now need permits and non-detriment findings for shark-liver material once refined into squalene and squalane, raising landed cost and lead time. Dermocosmetic and premium skin-care formulators building cruelty-free claims are requalifying suppliers first. Amyris/DSM-Firmenich’s Neossance and Kuraray’s olive-derived squalane already hold OEM approvals that shorten the switch away from shark-derived sourcing.

Bulk Procurement by Cosmetic Manufacturers Concentrates Volume in Direct Supply Contracts

Skin care, sun care and color cosmetics manufacturers buy squalane in metric-ton volumes, and direct B2B ingredient supply already holds 56.4% of distribution. That concentration favors producers able to guarantee consistent liquid and concentrate quality across large-batch runs rather than retail-size orders. Kuraray and Amyris/DSM-Firmenich, both integrated into olive or sugarcane feedstock, capture a growing share of this direct-contract volume as manufacturers lock in multi-year supply agreements over spot purchases.

Reformulation Beyond Facial Skin Care Is Widening Squalane’s Application Base

Squalane use is spreading from facial moisturizers and serums into sun care, color cosmetics and dermocosmetic-grade treatments, each drawing on its function as a lightweight, non-comedogenic carrier oil. Biofermentation-based plant-derived squalane is gaining traction in these newer formulations, extending supply beyond olive-press byproduct volumes. Sun care formulators use it to spread UV filters evenly across skin, while dermocosmetic treatments use it to support barrier repair after professional procedures, adding formulation volume without displacing the facial skin-care base.

Shark-Liver Compliance Costs Structurally Disadvantage Legacy Animal-Derived Supply

The same CITES listing that favors plant-derived squalane raises the cost floor for shark-liver material: exporters must document non-detriment findings and secure permits before shipment, a fixed cost that smaller animal-derived-only suppliers spread across less volume than diversified plant-based producers. Formulators still qualified only on animal-derived specifications, concentrated in legacy dermocosmetic and premium skin-care lines, absorb that pass-through until requalification is complete.

Grade-by-Grade Specification Qualification Slows Supplier Switching

Squalane specifications differ by end use: a facial serum, a mineral sunscreen carrier and a clinic-administered dermocosmetic treatment each require separate purity, viscosity or emulsion-stability documentation before a formulator substitutes suppliers. That burden falls hardest on mid-size formulators without in-house analytical capacity, who must requalify each product line individually. The result is a multi-quarter lag between new plant-based capacity coming online and its adoption across a brand’s full skin care, sun care and color cosmetics range.

Market Trends

Plant and Fermentation-Derived Feedstock Is Displacing Shark-Liver Squalene as the Reference Source

CITES’s move of gulper sharks to Appendix II at CoP20 in November 2025 puts export permits and non-detriment findings between shark-liver material and buyers for the first time, effective from roughly March 2026. Formulators that built specifications around shark-derived squalene are shifting reference sourcing toward olive- and sugarcane-derived routes already supplied by Amyris/DSM-Firmenich and Kuraray. Dermocosmetic and premium skin-care lines, which carry the most cruelty-free and sustainability claims, adopt the change first, and the shift compounds over the 2025-2035 forecast period as remaining shark-derived contracts lapse.

Biofermentation Is Scaling Plant-Derived Squalane Beyond Olive-Press Byproduct Volumes

Biofermentation-based plant-derived squalane is gaining use in skincare formulations, moving supply beyond the volumes limited historically by olive-press byproduct availability. Sugarcane fermentation routes let producers scale output independent of olive harvest cycles, giving formulators a second plant-based source alongside olive-derived material. This matters most for high-volume categories such as body care and hair care, where formulators need consistent liquid and concentrate supply rather than the smaller batches olive-press byproduct historically supported.

Formulation Is Spreading From Facial Skin Care Into Sun Care and Clinic-Administered Dermocosmetic Treatments

Squalane’s role is broadening from facial moisturizers and serums into sunscreens, self-tanning products and clinic-administered dermocosmetic treatments such as post-procedure barrier balms. Direct B2B ingredient supply, which already covers 56.4% of distribution, absorbs most of this incremental volume as manufacturers add squalane to multiple product lines under existing bulk contracts. Over the 2025-2035 period, this broadens the demand base beyond the facial skin-care segment that has anchored the market historically.

Regional Analysis

North America led the squalane market with a 32.36% share in 2025, the largest of the three tracked regions. U.S. formulators are among the earliest movers on certified plant-based grades: TRI-K Industries introduced OleaClear Olive Squalane in January 2025, a COSMOS-approved, natural-origin-index-1 emollient built for creams, lotions and lipsticks. That launch reflects a regional preference for traceable, certification-ready inputs over generic olive-derived stock, pushing supplier documentation rather than price to the center of purchasing decisions.

At 27.30%, Europe held the smallest of the three regional shares in 2025, though it remains the most tightly regulated. The EU Deforestation Regulation, postponed to 30 December 2026 for large and medium operators under Regulation (EU) 2025/2650, excludes olive- and sugarcane-derived feedstocks from its cattle, cocoa, coffee, palm, rubber, soy and timber commodity list, sparing the region’s dominant sourcing routes from geolocation and due-diligence filing. A February 2026 amendment to Regulation (EU) No 10/2011 separately authorises oxidised rice-bran wax as a food-contact additive, signalling parallel movement toward renewable substitutes in adjacent polymer applications.

Asia Pacific followed closely at 30.44% of 2025 revenue, anchored less by policy than by manufacturing geography. Regional demand concentrates in Japanese and Korean skincare production, where suppliers including Kuraray have built olive-derived squalane into finished formulations. Biofermentation and plant-derived grades are gaining particular traction with regional formulators supplying export-oriented skincare lines, a preference that tracks the conservation pressure documented at CITES CoP20 in December 2025 over collapsing deepwater shark populations.

Segment Analysis

End-use Application

• Skin care (largest) – Facial and body moisturizers, serums, and creams that use squalane as an emollient to soften skin and reduce moisture loss
• Facial moisturizers

• Day cream
• Night cream

• Serums
• Facial oils
• Creams & lotions
• Cleansers
• Body care – Lotions, oils, and butters applied to the body that incorporate squalane for lightweight lubrication and a non-greasy finish

• Body lotions
• Body oils
• Body butters
• Body washes
• Hair care – Shampoos, conditioners, and finishing oils that use squalane to coat hair strands, reduce frizz, and add shine

• Shampoos
• Conditioners
• Hair oils/serums
• Hair masks
• Sun care – Sunscreens and after-sun products that use squalane as a lightweight carrier oil that helps active filters spread evenly on skin
• Sunscreens

• Chemical sunscreens
• Mineral/physical sunscreens

• After-sun products
• Self-tanning products
• Color cosmetics – Foundations, lipsticks, and other makeup formulations that include squalane to improve texture, glide, and pigment blending

• Foundation
• Lipstick & lip care
• Concealer
• Eye makeup
• Blush/highlighter
• Men’s grooming – Shaving creams, beard oils, and aftershave balms formulated with squalane to soothe skin and ease razor friction

• Shaving products
• Beard care
• Face moisturizers
• Body wash
• Baby & kids care – Gentle lotions, balms, and cleansers for infants and children that use squalane for its mild, hypoallergenic emollient properties

• Baby lotions
• Baby oils
• Diaper care products
• Dermocosmetic/professional care – Pharmacy-dispensed and clinic-administered skin treatments, such as post-procedure balms, that use squalane to support the skin barrier under practitioner guidance

• Anti-aging treatments
• Scar & stretch mark treatments
• Clinical/spa formulations

Skin care led all end-use applications in 2025. Facial moisturizers, serums and creams use squalane to mimic natural sebum, cutting moisture loss without the greasy residue of heavier oils, which keeps the category the default entry point for new formulations. Cosmetic-grade lots are qualified against ASTM and ISO specification standards for purity and oxidative stability before a brand will put them on a finished-goods label, and any formulation sold into the EU carries CLP classification and labelling regardless of which feedstock supplied the squalane. Hair care is expanding faster than the broader category, as formulators extend the same lightweight-emollient logic used in facial skin care into shampoos, conditioners and finishing oils. Reusing one approved emollient across categories shortens the specification cycle for brand teams.

Product Form

• Powder – A finely milled dry form of squalane produced by processing or encapsulation, used as an ingredient in cosmetic powders, tablets, and dry-mix formulations

• Micronized powder
• Standard powder
• Free-flowing powder
• Granules/agglomerates – Small clustered particles of squalane formed by binding fine powder together, used to improve flow and dosing in solid formulation manufacturing

• Granules
• Agglomerates

• Flakes – Thin, solid chip-shaped pieces of squalane created by cooling and cutting the wax-like material, used for easier handling, weighing, and melting in production
• Pellets/prills – Small rounded, uniform solid units of squalane made by cooling droplets or extruding and cutting the material, used for consistent metering in industrial processing

• Pellets
• Prills
• Liquid – The pourable, free-flowing form of squalane at room temperature, used directly as a moisturizing carrier oil in skincare, cosmetics, and pharmaceutical formulations

• Neat liquid
• Diluted liquid

• Concentrate – A high-purity, low-dilution form of squalane meant to be diluted with carriers or blended into finished formulations before end use
• Dispersion/suspension – A mixture in which fine squalane particles or droplets are distributed through a liquid medium without full molecular dissolution, used to incorporate squalane into aqueous-based products

• Aqueous dispersion
• Oil-based suspension
• Emulsion – A stable blend combining squalane with water and emulsifiers into a uniform lotion-like mixture, used as a base for creams, lotions, and topical products

• Oil-in-water emulsion
• Water-in-oil emulsion
• Micro/nano-emulsion

• Paste – A thick, semi-solid blend of squalane with other ingredients that holds its shape but spreads under pressure, used in balms and dense topical preparations
• Gel – A semi-solid, cross-linked form of squalane suspended in a gelling agent that holds a set structure, used in lightweight topical and cosmetic gel products

• Aqueous gel
• Oil gel
• Wax/solid block – A firm, molded solid form of squalane that holds its shape at room temperature, used as a raw material input requiring melting before formulation

• Block form
• Cake form
• Oil – The pure, lipid-based form of squalane resembling natural skin lipids, used as an emollient and carrier oil in cosmetic, pharmaceutical, and industrial lubricant applications

• Refined oil
• Crude/unrefined oil
• Blended oil

By Source

• Plant/vegetable-derived (olive, sugarcane, rice bran) (largest) – Squalane extracted or synthesized from botanical feedstocks such as olive oil, fermented sugarcane, or rice bran, used in cosmetics, skincare, and pharmaceutical formulations

• Olive-derived
• Sugarcane-derived
• Rice bran-derived
• Wheat germ/other plant-derived

• Animal-derived (shark liver oil) – Squalane refined from squalene found in deep-sea shark liver oil, historically used as an emollient and carrier ingredient in cosmetic and personal care products
• Synthetic/petrochemical-derived – Squalane manufactured through chemical synthesis or hydrogenation of petrochemical intermediates, used as a lubricant, emollient, and carrier fluid in cosmetic, industrial, and pharmaceutical applications

Plant and vegetable-derived squalane, sourced from olive, sugarcane and rice bran, led the source segmentation in 2025. Suppliers including Kuraray and Amyris/DSM-Firmenich’s Neossance line have shifted commercial output toward these feedstocks as cruelty-free commitments from major cosmetics brands close off shark-liver sourcing. ECHA’s substance evaluation and authorisation decisions under REACH keep both plant- and animal-derived squalene registrations under recurring review, and a separate China REACH/MEE registration gates market access for each source material entering China. Disposal of shark-liver processing residue falls under Basel Convention controls on hazardous waste shipments, a compliance burden the fermentation route avoids outright. Biofermentation-based squalane, produced from fermented sugarcane, is gaining fastest among the three sources. Roughly 3,000 sharks are needed to yield one tonne of squalene, and gulper shark populations have collapsed by more than 80% in parts of their range, a conservation cost accelerating the switch to fermentation routes. Synthetic, petrochemical-derived squalane tracks naphtha and olefin cost assessments published by Argus, tying its price to a feedstock cycle the plant- and fermentation-based routes do not share.

By Distribution Channel

• B2B/direct industrial ingredient supply (largest, 56.4% share) – Direct sale of bulk squalane from producers to cosmetic, pharmaceutical, or nutraceutical manufacturers for use as a raw material in formulations

• Direct sales
• Distributors & agents
• Specialty stores – Dedicated beauty, cosmetics, or health retailers that sell squalane-based skincare and wellness products alongside curated personal care lines

• Cosmetics & personal care specialty stores
• Health & wellness stores
• Beauty supply stores
• Online retail/e-commerce – Digital marketplaces and brand websites where consumers purchase squalane oils and squalane-formulated products for direct home delivery

• Brand/company-owned websites
• E-commerce marketplaces
• Pharmacies & drugstores – Retail pharmacy outlets that stock squalane-containing skincare and dermatological products alongside over-the-counter medicines and health items

• Independent pharmacies
• Chain pharmacies/drugstores
• Supermarkets/hypermarkets – Large-format grocery and general merchandise retailers that carry squalane-based personal care products within their health and beauty aisles

B2B and direct industrial ingredient supply accounted for 56.4% of distribution in 2025, more than half the market. Cosmetic and pharmaceutical manufacturers buy squalane in bulk directly from producers to lock in formulation-grade consistency against the same ASTM and ISO specification standards used to qualify each source material, bypassing retail intermediaries for raw-material purchasing. The remaining channels are gaining share as finished squalane serums and oils reach consumers directly under brand labels through specialty and online retail outlets. That shift runs alongside, not against, the B2B channel, since branded finished goods still draw on the same bulk-supplied ingredient base.

Competitive Landscape

The squalane market is led by a group of established specialty-chemical and personal-care ingredient suppliers rather than a dominant single player: BASF SE, Croda International, Evonik Industries, Symrise AG, Dow Inc., Ashland, Clariant and Seppic. Competition centers on formulation IP and certification, feedstock integration back to olive, sugarcane or rice-bran sources, and OEM approvals into named skincare and personal-care lines; distribution depth into direct industrial supply reinforces incumbency once a grade is specified into a formulation.

Amyris, Inc. commissioned a fourth precision-fermentation line at its Barra Bonita, Brazil plant in March 2026, adding independent fermentation capacity for sugarcane-derived squalane after taking full ownership of the site from its former joint-venture partner in May 2025, a move that secures supply as brands shift away from shark-derived material. Givaudan opened a White Biotechnology Innovation Centre in Toulouse, France in October 2025, adding fermentation and biocatalysis development capacity alongside its licensed Neossance Squalane portfolio, extending its biotech-derived supply chain independent of third-party fermentation capacity. TRI-K Industries launched OleaClear Olive Squalane in January 2025, a COSMOS-approved, natural-origin-index-1 grade for creams, lotions and lipsticks, giving formulators a certified plant-based alternative for natural-claim product lines.

Strategic Outlook

The clearest whitespace is biofermentation-based squalane displacing shark-derived material in premium skincare, favoring suppliers with independent fermentation capacity such as Amyris and licensees like Givaudan. Realizing it depends on conservation pressure hardening into brand sourcing mandates, and on fermentation capacity scaling to match olive- and sugarcane-based volumes.

By 2035, sourcing should keep tilting toward plant and biotech-derived squalane as shark-liver material turns commercially marginal, with certification status mattering more than price alone. Direct industrial supply stays dominant, though branded online and specialty-channel sales gain a larger share of reach to consumers.

Squalane Market Report Scope

Attribute	Detail
Market Size 2025	129.90 (USD Million)
Market Size 2035	265.40 (USD Million)
Compound Annual Growth Rate (CAGR)	7.4% (2026 to 2035)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, Segment Analysis and Trends
Base Year	2025
Market Forecast Period	2026 – 2035
Historical Data	2020 – 2025
Market Forecast Units	USD Million
Key Companies Profiled	BASF SE (DE); Croda International (GB); Evonik Industries (DE); Symrise AG (DE); Dow Inc. (US); Ashland (US); Clariant (CH); Seppic (FR)
Segments Covered	End-use Application, Product Form, By Source, By Distribution Channel
Key Market Opportunities	Cosmetic formulators seeking a fully traceable, non-animal squalane supply chain create room for biofermentation producers to displace shark- and olive-derived grades in premium skincare.
Key Market Dynamics	Regulatory and retailer pressure against shark liver oil is pushing formulators toward plant-derived and biotech squalane sourced from olive and sugarcane feedstocks.
Regions Covered	North America, Europe, Asia Pacific

Market Insights

Frequently Asked Questions

SQUALANE MARKET SIZE, GROWTH FORECAST, REGIONAL DYNAMICS, APPLICATION LEADERSHIP, GROWTH DRIVERS, KEY PLAYERS AND RAW MATERIAL TRENDS

01 How big is the Squalane Market?

The Squalane Market was valued at USD 129.9 Million in 2025. This base-year figure covers global demand for squalane across skincare, hair care, sun care, and color cosmetics formulations, where the ingredient functions as an emollient and lightweight carrier oil.

02 What is the growth forecast for the Squalane Market?

The Squalane Market is projected to reach USD 265.4 Million by 2035, up from USD 129.9 Million in 2025, a CAGR of 7.40% across 2025-2035. Growth tracks expanding formulation use of squalane in skincare and adjacent personal care categories.

03 Which region holds the largest share of the Squalane Market?

North America held the largest share of the Squalane Market at 32.36% in 2025, ahead of Asia Pacific at 30.44% and Europe at 27.30%. Established cosmetic manufacturing capacity and ingredient sourcing infrastructure support this position.

04 Which region is growing fastest in the Squalane Market?

Asia Pacific shows the strongest growth momentum among the three tracked regions, tied to rising plant-derived and biofermentation-based squalane use across its skincare manufacturing base. Formulators there are scaling these sourcing routes alongside expanding local production.

05 Which segment leads the Squalane Market?

Skin care leads the Squalane Market by end-use application. Facial moisturizers and serums rely on squalane as an emollient that softens skin and limits moisture loss; body care, hair care, and sun care formulations follow at smaller volumes.

06 What is driving growth in the Squalane Market?

Two forces drive Squalane Market growth: a shift from shark liver-derived squalene toward plant and biofermentation-based squalane, and expanding use of the ingredient as a lightweight emollient in skincare and hair care formulations. Conservation pressure on deep-sea shark species reinforces the sourcing shift.

07 Who are the key players in the Squalane Market?

Key players in the Squalane Market include BASF SE, Croda International, and Evonik Industries, alongside Symrise AG, Dow Inc., Ashland, Clariant, and Seppic. These ingredient suppliers compete on formulation IP, sourcing route, and distribution reach across cosmetic and pharmaceutical end markets.

08 What are the main raw materials used in the Squalane Market?

Squalane is produced from three source types: plant feedstocks such as olive oil, sugarcane, and rice bran; shark liver oil; and petrochemical-derived synthetic routes. Plant and biofermentation-based sourcing has become the leading commercial route as brands move away from shark-derived squalene.