Report ID:
SQMIG15E2560 |
Region:
Global |
Published Date: November, 2024
Pages:
177
|Tables:
0
|Figures:
0
Keratin Market size was valued at USD 1.58 Billion in 2023 and is poised to grow from USD 1.68 Billion in 2024 to USD 2.71 Billion by 2032, growing at a CAGR of 6.2% during the forecast period (2025-2032).
Increasing emphasis on improving hair health around the world and growing issue of hair thinning and balding among young people is projected to bolster the demand for keratin over the coming years. Growing spending on personal care and rising sales of personal care products are also expected to create new opportunities for keratin companies in the future. High demand for skin care and cosmetics with functional ingredients is also expected to promote the use of keratin in personal care products going forward. Rising awareness regarding the health benefits associated with the use of keratin is also expected to benefit keratin market growth over the coming years. Increasing sales of shampoos, conditioners, and hair growth serums with keratin are also expected to present new opportunities for keratin companies through 2031. On the contrary, availability of synthetic alternatives, high costs of keratin products, and concerns over source are expected to impede keratin demand outlook across the study period.
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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The keratin market is segmented based on the product, type, application, and region. Based on the product, the keratin market is segmented into synthetic keratin and natural keratin. In terms of type, the market is divided into beta keratin and alpha keratin. Based on application, the market is segmented into personal care & cosmetics, healthcare & pharmaceuticals, food & beverages, and others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Analysis by Type
Alpha keratin is projected to account for a substantial keratin market share in the future. High versatility and efficacy of alpha keratin in different personal care and cosmetic applications is projected to aid the dominance of this segment going forward. Alpha keratin is the primary component of mammalian hair, nails, horns, claws, and skin. Since alpha keratin is found in all vertebrates, its availability is quite abundant, and manufacturers of keratin can easily source raw material for their operations without facing regulatory issues in terms of sourcing. Alpha keratin is fibrous and has a helical structure, which makes it perfect choice for multiple hair care products.
On the other hand, beta keratin is forecasted to account for the second-largest share of the global keratin industry. Beta keratin is made up of sheets of polypeptide chains that run parallel to each other and is found only in reptiles and birds. Beta keratin is generally harder than alpha keratin, which results in more need of processing to make it usable in multiple industry verticals. High mechanical strength and biocompatibility of beta keratin opens its scope of application for industrial uses. Extensive use of beta keratin in textile industry to make durable fabric is also expected to provide new opportunities for companies going forward.
Analysis by Application
Personal care and cosmetics applications are projected to account for a dominant keratin market share over the coming years. Growing spending on personal care and increasing aesthetic awareness among people around the world are projected to bolster the demand for keratin in this segment. High use of keratin in the formulation of shampoos, conditioners, hair serums, and skin care products is contributing to the high share of this application segment going forward. Rapid expansion of the personal care and cosmetics industry around the world is also expected to create new opportunities for keratin suppliers targeting this segment.
On the other hand, the demand for keratin in healthcare & pharmaceuticals is estimated to increase at a rapid pace across the study period. Extensive use of keratin in wound healing and drug delivery applications in the healthcare industry is also forecasted to benefit the global keratin market outlook in the future. The growing use of keratin in the development of regenerative medicine and high investments in the R&D of some are expected to create new opportunities for keratin companies. High emphasis on using natural ingredients in healthcare is also projected to bolster the demand for keratin in this segment across the study period and beyond.
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Asia Pacific is forecasted to account for a dominant share of the global keratin demand outlook owing to rising demand for keratin-based products in this region. Growing aesthetic awareness among people, rising disposable income, and increasing willingness to spend more on premium personal care products are slated to be key drivers for keratin demand in this region. India, China, Japan, and South Korea are forecasted to be the leading markets owing to the presence of multiple personal care companies in these countries. The abundant supply of raw materials required for keratin extraction in this region is also expected to attract keratin manufacturers to the Asia Pacific region.
North America is estimated to account for a substantial keratin market share and witness high growth in keratin demand going forward. High consumer spending potential, presence of a strong retail infrastructure, and growing awareness regarding benefits of keratin are expected to boost sales of keratin in this region. Extensive use of keratin in the healthcare industry of this region is also expected to create new opportunities for keratin providers in the future. Canada and the United States are forecasted be the most opportune markets in the North American region through 2031 and beyond.
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Drivers
High Demand for Hair Care Products
Use of Keratin in Skin Care Products
Restraints
High Costs of Keratin Products
Competition from Synthetic Alternatives
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Keratin companies should focus on increasing their supply in personal care and healthcare industry verticals to boost revenue generation. Investing in sustainable sourcing and processing of keratin is also expected to offer good returns for keratin providers going forward. Creating awareness regarding benefits of keratin and use of it in premium hair care products are also expected to be key trends for keratin companies in the future.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising willingness of people to spend on personal care and growing demand for hair care products are projected to drive the demand for keratin in the future. However, high costs of keratin products and competition from synthetic alternatives is estimated to slow down market growth over the coming years. The Asia Pacific is projected to spearhead keratin demand outlook owing to rising disposable income of people and growing spending on personal care. Keratin suppliers should focus on providing their product to nutraceutical and dietary supplement manufacturers to maximize their sales and business scope in the long run. Alpha keratin is expected to maintain its dominant stance through 2031.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.58 Billion |
Market size value in 2032 | USD 2.71 Billion |
Growth Rate | 6.2% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Keratin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Keratin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Keratin Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Keratin Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG15E2560
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