Market revenue in 2021 | USD 1.2 million |
Market revenue in 2030 | USD 3.4 million |
Growth rate | 12.6% (CAGR from 2021 to 2030) |
Largest segment | Plants |
Fastest growing segment | Synthetic |
Historical data | 2018 - 2020 |
Base year | 2021 |
Forecast period | 2022 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Animal, Plants, Synthetic |
Key market players worldwide | Amyris, Sophim, Kuraray Co Ltd, Croda International PLC, Arbe Robotics Ltd |
Plants was the largest segment with a revenue share of 75% in 2021. Horizon Databook has segmented the Thailand squalene market based on animal, plants, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
Thailand has one of the largest markets for color cosmetics and skincare among the nations of Southeast Asia. Many companies have made investments in the Thai cosmetics industry like Chemipan Corporation Co., Ltd and Benny Cosmetic Co., Ltd due to increasing demand of Thai cosmetic products.
Thailand's market for high-end cosmetics and fragrances is growing due to the rise in middle class population that has a strong appetite for fresh new beauty products. Growing cosmetic industry in Thailand is one of the driving factor for squalene market in South East Asia.
As per international trade administration the men’s grooming is also one of the growing industry in Thailand due to increasing social acceptance in skincare and haircare in urban areas. This in turn will drive the squalene market as squalene being the main ingredient in beauty and hair care products.
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