Sericin Industry to Reach US$ 537.6 Million by the End of 2032, States Fact.MR

Fact.MR, a supplier of market research and competitive data, projects that the global sericin market will reach US$ 303.6 million in 2022 and grow at a CAGR of 5.8% from 2022 to 2032. Sericin, a silk protein that enhances skin suppleness and possesses antioxidant effects by reducing lipid peroxidation, plays a vital role in anti-aging treatments.

A significant boost to the market has been provided by numerous studies that show the advantages of swallowing sericin orally, specifically the benefits to the health of the hair, skin, and nails. Due to people's increased health awareness, adoption of healthier lifestyles, and use of supplements to fulfil daily nutritional needs, the market for dietary supplements exhibits enormous growth potential.

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Key Takeaways from Market Study

The global sericin market is estimated to grow at a CAGR of 5.8% in the forecast period 2022-2032
The market witnessed a 3.1% CAGR for the period of 2017-2021
Solid sericin dominates the market and is estimated to be valued at US$ 214.8 million in 2022
Europe is expected to be the top region in the market with a 35.2% market share in 2022
Sericin is extensively used in the personal care and cosmetics industry and is likely to represent 64.9% market share in 2022
Asia Pacific and North America's demand for sericin is expected to increase at CAGRs of 6.5% and 5.4%, respectively

"Extensive Research Showing Various Dynamic Properties of Sericin that can be exploited to Manufacture a Wide Variety of Products will Increase the Demand for sericin," says a Fact.MR analyst.

Market Development

Players are spending on research and development to diversify their product offerings on the basis of the quality of sericin needed and make it available to customers across diverse regions, in order to improve the company's global footprint and its overall profitability. Companies manufacturing sericin are channelizing their potential to enhance their footprint across regions manufacturing end-products like cosmetics, and pharmaceuticals.

Major players in skincare and cosmetics are advancing their product portfolio and introducing anti-aging segments and promoting with higher priority. This strategy is strengthening the long run of sericin in the global market.

Competitive Landscape

Players operating in the sericin market are trying and improve their availability and distribution network, to reach newer customers. Furthermore, companies are channeling an adequate amount of funds into research and development, so that sericin could be made available at comparatively competitive prices, improve their overall profit margin in the long run, and cater to a larger set audience base.

In May 2022, Karnataka State Sericulture Research and Development Institute (KSSRDI) announced that they are planning to launch 12 sericin-based cosmetic products.
In Sep 2020, DSM decided to sell its Resin & Functional Material Business to generate equity of about US$ 1.8 billion to remain focused in the fields of nutrition, health, and sustainable living. The Resin & Functional Material Business was acquired by Covestro.
Fact.MR has provided detailed information about the price points of key manufacturers of sericin positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Prominent Manufacturers

DSM
Huzhou Aotesi Biochemical Co., Ltd
Hyundai Bioland
Huzhou Aotesi Biochemical Co., Ltd.,
Lanxess
Rita Corporation
Seiren Co.
Specialty Natural Products Co. Ltd

Industry Research

By Form:
Solid
Liquid

By Application:
Personal Care & Cosmetics
Hair Care
Skin Care
Others
Pharmaceuticals
Others

By Region:
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global sericin market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of form (solid and liquid) and application (personal care & cosmetics (hair care, skincare, and others), pharmaceuticals, and others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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This release was published on openPR.