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Keratin Products Market Size Will Generate Record Revenue: $3.4 Billion by 2032, Growth Rate (CAGR) of 6.1%
Keratin Products Market
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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.
According to the perspective of top-level CXOs, innovation is the key for growth of the keratin products market, in terms of value sales. Rise in demand for various keratin products among customers makes way for manufacturers to produce herbal or organic skin care products along with affordable prices and eco-friendly packaging. CXOs further added that rise in consciousness regarding physical appearance among individuals as well as working class professionals propels growth of the keratin products market. Use of natural ingredients such keratin in hair care and skin care products to reduce harmful effects of products, which drives the growth of the keratin products market globally. The industry has recently observed an emerging trend of men using keratin products in their daily lives. Use of keratin products by men is expected to eventually increase and in turn supplement growth of the global keratin products market.
The keratin products market is analyzed on the basis of product type, application, form and region. On the basis of product type, it is categorized into alpha-keratin, beta-keratin, hydrolyzed keratin, keratin amino acid and bio peptide keratin. Among these, the hydrolyzed keratin segment occupied the major share of the market in 2022 and is anticipated to maintain its dominance during the forecast period in Keratin Products industry. Skin care products often use hydrolyzed keratin because of its moisturizing and skin-conditioning properties. Furthermore, hydrolyzed keratin serves as a source of some amino acids for specific nutraceutical formulations.
In addition, the demand for premium and high value hair care products to treat frizz and enhance hair texture has grown as a result of rising disposable income and the globalization of beauty standards. There is a growth in the market for hydrolyzed keratin derived from natural sources such as wool and feathers due to the Keratin Products Market Demand. In addition, there has been a significant increase in the number of consumers seeking natural and organic ingredients in personal care products. Moreover, the increased recognition of the need of keratin products with hydrolyzed keratin composition to enhance hair health and beauty has been positively influenced by the rise in awareness regarding hair health. this has increased the Keratin Products Market Size.
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.
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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.
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 diet-ary 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.
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.
The major players analyzed for the keratin products market include 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, and NutriScience Innovations, LLC.
Key Benefits For Stakeholders:
βͺοΈ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the keratin products market analysis from 2022 to 2032 to identify the prevailing keratin products market opportunities.
βͺοΈ The market research is offered along with information related to key drivers, restraints, and opportunities.
βͺοΈ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
βͺοΈ In-depth analysis of the keratin products market segmentation assists to determine the prevailing market opportunities.
βͺοΈ Major countries in each region are mapped according to their revenue contribution to the global market.
βͺοΈ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
βͺοΈ The report includes the analysis of the regional as well as global keratin products market trends, key players, market segments, application areas, and market growth strategies.
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βͺοΈ Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
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