The Global Squalene Market
A shark liver floating by Paul Friese
by Joshua Soll
In the shark conservation world, it is important to understand the value and trends of products that come from sharks so that policy, education, outreach, and advocacy can be planned accordingly.
For example, if the global shark fin market decreases, is it because of new regulations that prevent shark fishing, or is it due to an overall decline in shark populations? Knowledge of the causes of these changes and understanding the topic from a supplier and consumer perspective can aid in shaping the next steps of an organization, such as Shark Allies, in shark conservation. This blog describes the available knowledge of the past, present, and future of the global squalene market, which includes all types of squalene, shark and alternative. All in all, the value of the squalene market is expected to increase over time. Animal-based squalene is expected to have sluggish growth over time as conservation efforts increase. However, there is no evidence of the animal-based squalene market halting any time soon.
2012 (Bloom)
In 2012, the price per tonne (1 tonne = 1000 Kg) for shark liver oil was $12,000-15,000. Squalene, being a derivative of shark liver oil and only constituting a fraction of the liver oil, generally sold at $15,000–25,000 per tonne, and squalane at $20,000-35,000 per tonne. The demand for shark liver oil in 2012 was estimated at 2,000-2,200 tons, which is a more than 20% decrease compared to 2010. Around 90% of this total is used for the production of squalene in the cosmetics industry, approximately 9% by the nutraceutical industry, and 1% by other sectors.
2015 (Grand View Research Market Report)
In 2015, the global squalene market was valued at $111.9 million. Of this total, cosmetics formed the dominant segment and accounted for 64.2% of the overall revenue in the squalene market. Pharmaceuticals accounted for 7.7% of the global volume of squalene.
Vegetable-based squalene, which is derived from olive oil, amaranth oil, wheat germ, and rice bran oil, accounted for 46.0% of the overall volume in 2015, being the largest segment of volume of squalene in the market. This segment of the market was expected to witness significant growth. Animal-based squalene was a prominent segment of the market as well, being valued at $46.2 million. However, sluggish growth of this segment was predicted between 2016-2024.
Europe was the largest regional market for squalene, accounting for 36.6% of the total volume in 2015. However, Asia Pacific was expected to witness the fastest volume of growth at a compound annual growth rate (CAGR) of 10% from 2016-2024, due to a rising cosmetics sector in India, China, South Korea, Indonesia, and Malaysia.
2018 (Fior Markets Report) & 2019 (Markets and Markets Report)
In 2018 and 2019, Europe was the leader for global demand of squalene. In 2019, the global squalene market was worth approximately $140 million. According to Allied Market Research, the global squalene market is expected to grow at 10.1% CAGR to reach $214 million by 2022.
2024
While there is disagreement on the value of the squalene market in 2024, the values are nonetheless similar. Grand View Research Market Report estimates the global squalene market to reach $271.5 million by 2024, whereas Markets and Markets Report estimates the global squalene market to reach $204 million in 2024.
2026 (Fior Markets Report)
The global squalene market is expected to reach $382.72 million by 2026 at a CAGR of 10.77% over the forecast period of 2019-2026.