Portland,OR, March 07, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled “Keratin Products Market by Product Type (Alpha-Keratin, Beta-Keratin, Hydrolyzed Keratin, Keratin Amino Acid, and Bio Peptide Keratin), Form (Powder, Liquid, and Tablet), and Application (Hair Beauty Salon, Skin Cream, Nutraceutical, Pet Care & Supplement, Medical, Active Pharmaceutical Ingredient, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032 “. According to the report, the global keratin products market was valued at $1.9 billion in 2022, and is projected to reach $3.4 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.
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Prime determinants of growth
The growth of the keratin market is majorly driven by many factors. The increased global demand for keratin products is a direct result of evolving consumer lifestyles, which has led to increased awareness of skin and hair care. This growing consciousness regarding both internal well-being and external attractiveness has significantly fueled the widespread use of keratin products worldwide. Moreover, men have integrated keratin products into their daily routines more frequently than women, driving the global expansion of the keratin product market. This lifestyle-driven shift has propelled the market's reach across the globe. In addition, there is a rising inclination toward products that provide nourishment, healing, and rejuvenation, driven by consumer awareness of the effects of aging, lifestyle choices, and environmental factors on their skin and hair.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | $1.9 Billion |
| Market Size in 2032 | $3.4 Billion |
| CAGR | 6.1% |
| No. of Pages in Report | 290 |
| Segments covered | Product Type, Application, Form, and Region |
| Drivers |
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| Opportunities |
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| Restraints |
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The hydrolyzed keratin segment to maintain its leadership status throughout the forecast period
By product type, the hydrolyzed keratin segment held the highest market share in 2022, accounting for more than two-fifths of the keratin products market revenue and is estimated to maintain its leadership status throughout the forecast period. Hydrolyzed keratin has experienced significant growth in recent years. The increase in the foothold of consumers who seek natural and organic ingredients in personal care products has also surged the demand for hydrolyzed keratin, which is derived from natural sources such as wool and feathers. Moreover, the growth in awareness regarding the importance of hair health and the desire for strong, shiny, and manageable hair has contributed to the demand for keratin products containing the formulation of hydrolyzed keratin, as it enhances the appearance and health of hair. In addition, the rise in disposable income and globalization of beauty standards have led to increased demand for premium and high-quality hair care products to address frizz reduction and improve the texture of hair.
The hair beauty salon segment to maintain its leadership status throughout the forecast period
By application, the hair beauty salon segment held the highest market share in 2022, accounting for more than one-third of the keratin products market revenue and is estimated to maintain its leadership status throughout the forecast period. The hair beauty salon has observed significant growth in recent years. The salons that specialize in diverse hair treatments have gained popularity. This is attributed to the growth in the trend towards adoption of diverse beauty standards which has encouraged the salons to cater to a wide range of hair types, textures, and styles. Moreover, the popularity of keratin treatment in hair salons has also gained traction as customers seek these treatments for smoother, frizz-free hair, which has contributed to the increased demand for keratin-infused products. In addition, hair beauty salons can leverage the popularity of keratin treatments by retailing keratin-infused products. This includes shampoos, conditioners, and styling products that customers use at home to maintain and enhance the effects of their keratin treatments.
The powder segment to maintain its leadership status throughout the forecast period
By form, the powder segment held the highest market share in 2022, accounting for more than three-fifths of the keratin products market revenue and is estimated to maintain its leadership status throughout the forecast period. The use of keratin powder in cosmetics, skincare, and dietary supplement formulations has increased in recent years. This is attributed to the growth in trends in hair care and beauty that emphasize healthy, glossy hair and radiant skin, which contributes to the increased demand for products containing keratin powder. Moreover, keratin derived from natural sources such as wool, feathers, or plants, aligns with the demand for ingredients perceived as clean and environmentally friendly, which has further boosted the keratin powder demand.
Asia-Pacific to maintain its leadership status throughout the forecast period
By region, the Asia-Pacific held the highest market share in 2022, accounting for more than half of the keratin products market revenue and is estimated to maintain its leadership status throughout the forecast period. Asia-Pacific is studied across China, India, Japan, South Korea, and rest of Asia- Pacific. Increase in urbanization, growth of middle-class consumers, and surge in the rate of female workforce in many developing and developed markets have encouraged the adoption of convenience-oriented lifestyles, making keratin products more desirable. Moreover, rise in awareness regarding different keratin products and their benefits is further increasing sales.
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Leading Market Players: -
- BASF SE
- Active Concepts, LLC
- Kerline srl
- Parchem Fine And Specialty Chemicals, Inc.
- Kelisema (S.R.L.)
- Hefei TNJ Chemical Industry Co.,Ltd.
- BioOrganic Concepts
- Croda International Plc
- Greentech Biochemicals Co., Limited
- NutriScience Innovations, LLC.
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting market growth.
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