Market Size of Squalene Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 167.15 Million |
| Market Size (2029) | USD 223.28 Million |
| CAGR (2024 - 2029) | 5.96 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Squalene Market Analysis
The Squalene Market size is estimated at USD 167.15 million in 2024, and is expected to reach USD 223.28 million by 2029, growing at a CAGR of 5.96% during the forecast period (2024-2029).
COVID-19 negatively impacted the market in 2020. Considering the pandemic scenario, manufacturing activities were temporarily stopped during the government-imposed lockdown to curb the spread of new COVID-19 cases, thereby reducing the demand for squalene-based products. However, the need for squalene to produce adjuvants for various COVID-19 vaccines significantly increased, enhancing the demand for the market studied.
- In the medium term, the major factors driving the market studied are growing cosmetics industry and growing demand from the nutraceutical industry.
- On the flip side, shark killing concerns and limitations is likely to restrain the market growth.
- The research and development on squalene for oncology uses is likely to act as an opportunity for squalene market in the coming years.
- Europe accounted for the highest market share, and the region is likely to dominate the market during the forecast period.
