What is Global Squalane Oil Market?
The Global Squalane Oil Market is a vast and dynamic sector that has been gaining significant attention in recent years. Squalane oil, a naturally occurring compound found in a variety of sources, is highly sought after for its numerous beneficial properties. The market for this oil is truly global, with demand spanning across continents and industries. As of 2023, the market was valued at a substantial US$ 144 million, and it is projected to more than double by 2030, reaching an impressive US$ 284.6 million. This growth is expected to occur at a compound annual growth rate (CAGR) of 10.1% during the forecast period from 2024 to 2030.
Phyto Squalane, Shark Squalane, Synthetic Squalane in the Global Squalane Oil Market:
The Global Squalane Oil Market is segmented into three main categories based on the source of the oil: Phyto Squalane, Shark Squalane, and Synthetic Squalane. Phyto Squalane, derived from plant sources, is the largest segment, accounting for over half of the market. This is likely due to the increasing preference for plant-based products in various industries. Shark Squalane, on the other hand, is derived from shark liver oil. Despite ethical concerns over shark fishing, this segment still holds a significant share of the market due to the oil's unique properties. Synthetic Squalane, produced through the hydrogenation of squalene, is the third segment. While it currently holds a smaller share of the market, it is expected to grow as advancements in technology make production more efficient and cost-effective.
Cosmetics & Personal Care, Pharmaceutical Industry, Others in the Global Squalane Oil Market:
The Global Squalane Oil Market finds its applications in a variety of areas, including Cosmetics & Personal Care, the Pharmaceutical Industry, and others. In the Cosmetics & Personal Care industry, squalane oil is prized for its moisturizing properties and is often used in skincare products. In the Pharmaceutical Industry, squalane oil is used as an adjuvant in vaccines due to its ability to enhance the body's immune response. Other applications of squalane oil include its use as a food additive and as a lubricant in industrial applications. The versatility of squalane oil and its wide range of applications contribute to the robust growth of the market.
Global Squalane Oil Market Outlook:
Looking at the market outlook for the Global Squalane Oil Market, it's clear that this sector is set for substantial growth. In 2023, the market was valued at US$ 144 million, and by 2030, it's expected to reach a staggering US$ 284.6 million. This represents a compound annual growth rate (CAGR) of 10.1% during the forecast period from 2024 to 2030. It's also worth noting that the top five global companies in this sector account for about 10% of the market share. In terms of product segmentation, Phyto Squalane is the largest segment, holding a share of over 50%. This dominance of Phyto Squalane is likely due to the growing preference for plant-based products in various industries.
| Report Metric | Details |
| Report Name | Squalane Oil Market |
| Accounted market size in 2023 | US$ 144 million |
| Forecasted market size in 2030 | US$ 284.6 million |
| CAGR | 10.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Kishimoto, EFP, VESTAN, Maruha Nichiro, Arista Industries, Amyris, Sophim, Croda, Nucelis LLC, Caroiline, Clariant, The Innovation Company, Henry Lamotte OILS GmbH, Kuraray, NOF Group, Ineos |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
