Keratin Market to Soar to USD 2.55 Billion by 2031, Fueled by Growing Demand in Personal Care and Cosmetics

"Strength in Beauty: Exploring the Keratin Market - Trends, Applications, and Innovations in Haircare and Biomedical Solutions."

TEXES, AUSTIN, UNITED STATES, May 27, 2024 /EINPresswire.com/ -- The global keratin market is experiencing significant growth, driven by the increasing demand for keratin-based products in the personal care and cosmetics industry. The market size was valued at USD 1.59 billion in 2023 and is projected to reach USD 2.55 billion by 2031, exhibiting a CAGR of 6.1% during the forecast period of 2024-2031, according to a recent SNS Insider report.

"The increasing popularity of keratin as a multifunctional ingredient is fueling the market growth"

Keratin, a naturally occurring protein, has gained popularity as a sustainable, safe, and multifunctional ingredient in personal care and cosmetic products. Its revitalizing effects on hair and skin, coupled with the growing consumer preference for bio-based products, are fueling the demand for keratin. In June 2021, Atulya, a brand under Beacon Bio Life Sciences Private Limited, introduced its latest line of products featuring Veg Keratin and Wheat Protein. The market is further propelled by the increasing global population, ongoing urbanization, and industrialization in emerging economies.

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Some of the Key Players Included are:
The major key players are BASF SE, Keraplast, Proteina, Rejuvenol, MakingCosmetics Inc., Hefei TNJ Chemical Industry Co. Ltd., Greentech, Keratin Express, Clariant, Kerline Srl, Roxlor, NutriScience Innovations LLC, and other key players are mentioned in the final report.

The demand for keratin is rising across various industries, with the personal care and cosmetics industry being the most prominent.

Keratin is used in a wide range of products, including facial moisturizers, shampoos, conditioners, and other hair care solutions. The growing awareness of hair health and the increasing demand for hair care regimens are significantly contributing to the market growth.

• In March 2023, BASF Personal Careintroduced Kerasylium™, a new hair care ingredient designed to repair damaged hair and protect it from daily aggressions.

The use of keratin in the health and pharmaceutical industry and the food and beverage industry is also expected to create lucrative growth opportunities for market players.

By Application, the personal care and cosmetics segment dominated the keratin market with the highest revenue share of more than 40% in 2023
The personal care segment is the largest and fastest-growing application area for keratin, driven by increasing consumer demand for hair and skin care products. The rising disposable incomes in emerging economies and growing awareness of keratin's benefits are contributing to the segment's dominance.

By Type
• Alpha-Keratin
• Beta-Keratin
 
By Product
• Hydrolyzed
• Others
 
By Application
• Personal Care & Cosmetics
• Food & Beverages
• Healthcare & Pharmaceuticals
• Others

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North America region held a significant revenue share in the keratin market in 2023
This is driven by the rising usage of hair and skin care products. The presence of numerous manufacturers and the growing awareness of personal care products are contributing to the market growth.

Asia Pacific region dominated the keratin market in 2023 due to the presence of global multinational companies and high demand from various end-use markets. The increasing awareness of natural and organic ingredients and the rising use of keratin products in countries like China and India are propelling the market growth.

Impact of Global Disruption
The ongoing conflict between Russia and Ukraine has disrupted supply chains and caused fluctuations in raw material prices, impacting the keratin market. However, the market has demonstrated resilience, with manufacturers exploring alternative sourcing options and adjusting production processes to mitigate the impact.

The global economic slowdown has also affected the keratin market, leading to a decrease in consumer spending on non-essential products. However, the demand for essential personal care and hygiene products has remained steady, providing a cushion for the market.

Key Takeaways from the Keratin Market Study
• The keratin market is expected to witness substantial growth during the forecast period, driven by the increasing demand from the personal care and cosmetics industry.
• The growing awareness of hair and skin health and the consumer preference for bio-based products are fueling the demand for keratin.
• The market is expected to create lucrative growth opportunities for players in various end-use industries, including health and pharmaceuticals and food and beverages.
• The keratin market is poised for significant growth in the coming years, driven by the rising demand for natural and effective personal care ingredients.
• Keratin's versatile nature allows for its use in various industries, ensuring sustained demand even during economic fluctuations.
 
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