Keratin Market

Keratin Market Outlook (2022-2032)

The global keratin market is likely to be pegged at a value of US$ 1.7 Billion in 2022 and is expected to accumulate a market value of US$ 3.2 Billion by registering a CAGR of 6.5% in the forecast period 2022-2032.

Growth of the keratin market can be attributed to increasing consumption of keratin personal care & cosmetic industry. The market for keratin registered a CAGR of 5.1% in the historical period 2017-2021.

Keratin is used in skincare and hair care products, such as shampoos and conditioners, to remove dead skin cells, reduce skin oil levels, blemishes, and repair hair and skin damage caused due to heat and other chemicals. It is insoluble in water. It can be derived from feathers, horns, hair, outer skin layer, nails, wool, and claws.

The demand for the product is rising in the personal care & cosmetics industry as it is a sustainable, safe, and multifunctional substitute for other types of acids used in cosmetics products. It provides a revitalizing effect on the hair and skin, which is expected to positively impact the demand for keratin in the personal care and cosmetics industry.

Keratin is a chemical found in glands and internal organs that is necessary for the growth of nails, skin, and hair. It's used to make personal care items as well as to heal wounds, tissues, and other ailments. Keratin products are often used by consumers for personal grooming and maintenance.

Keratin products are commonly used as a protective layer on the outside of the skin to control cell proliferation through skin regeneration and softening, maintain flexibility and compactness and decrease wrinkles. Moreover, technological improvements in the beauty salon industry would broaden the application scope of shampoo and conditioners will further create lucrative market growth opportunities.

Report Attributes	Details
Market Size in 2021	US$ 1.6 Billion
Market Value in 2022	US$ 1.7 Billion
Projected Forecast Value (2032)	US$ 3.2 Billion
Global Growth Rate (2022-2032)	6.5% CAGR
Expected Market Share of the North America Market (2022)	35%
Expected CAGR of Asia Pacific (2022)	7.20%
Major Keratin Service Providers	Proteina Hefei TNJ Chemical Industry Co. Ltd. Rejuvenol Scherdiva Keratin Express Keraplast NutriScience Innovations LLC Guangzhou FONCIU Cosmetics Limited Shaanxi Qinland Bio-Tech Co., Ltd. Wellgreen Technology Co., Ltd. Greentech Biochemicals Co. Limited MakingCosmetics Inc. Kerline S.r.l Active Concepts LLC BASF SE

Sales Analysis of Keratin (2017-2021) Vs. Market Forecast Outlook (2022-2032)

According to Fact.MR, the keratin market registered a CAGR of 5.1% in the historical period 2017-2021. The rise in the demand for hair beauty treatments, skin care creams and for variant applications in medical and drug advancement will drive the keratin market.

Other significant factors such as the high disposable income, rising preferences towards improved personal care products and changing lifestyle will accelerate the market growth rate. Furthermore, increasing utilization of keratin products in wound treatments, drug delivery and tissue culture will cushion the market’s growth rate.

The spread of COVID-19 has led to some positive changes in the mindsets of the masses making them highly conscious about adopting a healthy lifestyle. As such, these capsules and powders have become a part of the daily diet in consumers. The rising consumption of keratin capsules and powders is expected to fuel the global demand for the market in the coming years. Thus, the market for keratin is expected to register a CAGR of 6.5% in the forecast period 2022-2032.

Which are Some Prominent Drivers of Keratin Market?

Growth of manufacturing expenditure influencing keratin industy growth

Increasing preference for bio-based products by end-users owing to the rise in disposable income of consumers is influencing the growth of keratin market. Manufacturers are constantly upgrading their product portfolios to meet the increasing requirements of end users, thereby leading to increased consumption of keratin.

The growing global population and the ongoing urbanization and industrialization in emerging economies, such as India, have led governments of various countries across the world to increase their manufacturing expenditure to cater to the rising demand for keratin.

The worldwide cosmetics industry has been gradually shifting toward innovative ingredients that have fewer adverse effects and are more efficient. The use of keratin in cosmetics has increased the need for hair care products. The industry is benefiting from the rising demand for hair care regimens and individuals becoming more aware of hair solutions.

End User Industries increasing use of Keratin in Various Products

The increasing use of keratin in numerous end-use industries, such as personal care & cosmetics, health & pharmaceuticals, and food & beverages, is anticipated to create lucrative growth opportunities for players in the keratin market across the world, especially in the Asia Pacific. The hair care segment is expected to witness significant market penetration globally owing to its increasing demand from consumers.

Thus, the rising demand for hair care products globally is anticipated to positively impact the demand for keratin worldwide. In addition, increasing consumption of green chemicals globally is expected to fuel the utilization of vegan-based keratin.

What are the Challenges Faced by the Keratin Market?

Stringent Regulations on the use of Keratin creating Obstacles for Market Growth

High costs associated with keratin treatment along with stringent regulations by government are expected to hamper the market growth rate. In addition, constant increase in the price fluctuations of keratin is forcing manufacturers of beauty products to use lesser concentration of keratin. Furthermore, use of excessive keratin and keratin treatments can damage skin and hair. This, in turn, is expected to further challenge the growth of the keratin market.

Comparative View of Adjacent Keratin Markets

Keratin Market :

Attributes	Keratin Market
CAGR (2022-2032)	6.5%
Market Value (2032)	US$ 3.20 Billion
Growth Factor	Increasing growth of the cosmetic industry is bolstering the demand for keratin market.
Opportunity	Technological advancements and research activities along with use of keratin in vegan products across the globe is creating lucrative opportunities for keratin industry.

Chemical Enhanced Oil Recovery Market :

Attributes	Chemical Enhanced Oil Recovery Market
CAGR (2022-2032)	5.1%
Market Value (2032)	US$ 1.3 Billion
Growth Factor	Increasing demand to reduce emissions promoting use of CO2 injection technology for oil recovery is creating lucrative opportunities for chemical enhanced oil recovery market.
Opportunity	Exploration of unconventional oil resources is fueling the growth of chemical enhanced oil recovery market.

Plant-based Squalene Market :

Attributes	Plant-based Squalene Market
CAGR (2022-2032)	8.5%
Market Value (2032)	US$ 202.1 Million
Growth Factor	Rising demand for cosmetic products manufactured using sustainably-sourced ingredients bolstering the global market growth.
Opportunity	Plant-based squalene market as manufacturers have started to look for alternatives such as sugarcane and olive oil, which have become the most vital sources of extracting squalene in recent times is boosting the demand for plant-based squalene.

Regional Insights

Use of Premium Cosmetics Increasing Use of Keratin in Asia Pacific?

Use of Cosmetics by Millennials and Generation Z propelling growth of Keratin

The demand for cosmetic products is rising in various emerging economies, such as China, India, and Brazil. Among others, on account of the growing disposable incomes. This has increased the spending on premium cosmetics and personal care products, which, in turn, is expected to drive the demand for keratin over the next few years.

The growing population in countries such as India, the Philippines, Singapore, and Malaysia is expected to positively impact the demand for personal care products in the Asia Pacific during the forecast period.

The Asia Pacific dominated the keratin market by revenue and volume in 2021 owing to the presence of global multinational companies in the region with high demand from end-use markets personal care & cosmetic, healthcare & pharmaceuticals, and food & beverages market. The market in Asia Pacific is expected to register a CAGR of 7.2% in the forecast period.

Personal Care and Cosmetic Products Boosting the Demand for Keratin in North America?

Innovation in Personal Care leading to extensive use of Keratin in Cosmetic Products

North America is expected to possess 35% market share for keratin. This is attributed to the rising usage of hair care and skin care products by people. The presence of various small- and large-scale producers is driving awareness and demand for personal care products. Manufacturers in North America are adopting an integrated approach toward health and cosmetic products rather than treating each as an individual category in personal care

Manufacturers of personal care and cosmetic products are striving for innovation to build a better operational approach and improve the overall product quality in North America. The rising consumption of personal care products in North America is driven by the growing retail industry coupled with increasing consciousness among people about protecting their skin and hair from dust and pollution. This is one of the major factors that are likely to drive the demand for keratin in North America during the forecast period.

Country-wise Forecast CAGRs for the Keratin Industry

Country	CAGR
U.S.	5%
Canada	4%
China	4%
India	5.5%

Category-Wise Insights

Use of Keratin in Cosmetics as Growth Enhancing Agents bolstering the use of Hydrolysed Products?

Hydrolyzed keratin is a mixture of amino acids and peptides. This cosmetic ingredient is found in a variety of hair care, nail care, skincare, and other similar products. Hydrolyzed keratin can be used as a humectant, nail conditioning agent, antistatic agent, and hair and biological additive.

It plays an important role in the development of healthy tissues, and cosmetic and personal care companies use it in their products to improve well-being, health, and beauty.

Hydrolyzed keratin, for example, is found in mascara at a concentration of up to 0.2%, in bath soaps at a concentration of up to 0.028%, and in hair sprays at a maximum concentration of 0.059%. Some of these compounds have also been reported to be used in hair sprays and could be inhaled. Thus, hydrolyzed products are expected to possess 45% market share for keratin market.

Growth of Grooming Industry Increasing Use of Keratin in Personal Care Products?

Daily Beauty Routines increasing Sales of Keratin for Personal Care Products

The demand for personal care products has seen significant growth in the past few years across the globe. The growth in demand for hair care products has been noteworthy. Keratin finds applications in numerous personal care product categories such as facial moisturizers, shampoos, and conditioners.

The demand for keratin is increasing as consumers are adopting changes in their lifestyles to simplify their daily beauty routines due to busy work schedules. Thus, personal care & cosmetics is expected to possess 40% market share for keratin.

Keratin plays a major role in the development of a wide range of medicines and tablets, which enhance human immunity. It is a protein that gives nutrition to the hair, nails, and skin, as well as to the overall human body. It is also used as a supplement to provide necessary nutrition to consumers.

Therefore, it is increasingly used in the healthcare & pharmaceuticals industry. The product in the form of capsules and powders is sold by pharmacies and food stores globally. These capsules and powders are consumed by end-users of all age groups to enhance their immunity.

Plants are a natural and eco-friendly source of keratin that pose no harm to animals for the extraction of the product. Pharmaceutical companies worldwide are taking several steps for reducing the usage of animal-derived substances in medicines and hence, are embracing the vegan methods for producing medicines that use only plant-based keratin.

Start-Ups for Keratin Industry

• In March 2022, a Germany-based company, Axunio launched its first vegan paracetamol. The medicine is free from animal-based substances and is of complete vegetable origin. There is an increase in awareness among pharmaceutical companies to adopt a natural way of extraction. This is anticipated to contribute to the demand for plant-based keratin in healthcare & pharmaceuticals applications across the world in the coming years.
• Ccigmaa, an Indian start-up is focusing on making keratin-based hair care products that suit different type of hair. Thus, the company is manufacturing products that include keratin to nourish hair for longer durations.

Market Competition

The companies are growing significantly due to constant product innovation backed by the rapid adoption of advanced technologies. Emerging players in the industry are focusing on vertical integration of their operations to seamlessly operate in the market space and are also collaborating with established brands to increase brand presence globally.

Furthermore, companies such as Keraplast Technologies LLC, NutriScience Innovations LLC, Wellgreen Technology Co.Ltd., Greentech Biochemicals co., Limited, and MakingCosmetics Inc. among others are recognized as the key innovators in the global ecosystem. These companies shed hefty amounts on research activities to innovate novel products.

Moreover, increasing demand for keratin from the personal care and cosmetics industry has led to increased competition in the market space. To sustain in the competitive environment, companies are undergoing several strategic planning and execution programs to increase their operational efficiency and increase market presence globally.

• Kerplast Technologies, a key player in the keratin market is focusing on becoming a regenerative business. Thus, the company recovers bioactive protein from New Zealand farms and is uses the same in food and wellness products.
• NutriScience Innovations LLC, another key player in the keratin market is offering different types of keratin products. The company offers hydrolyzed keratin, KeraGLO and Ethyl Linoleate.

Key Segments Covered in the Report

• By Product :

  • Hydrolysed
  • Others

• By Application :

  • Personal Care & Cosmetics
    • Animal
    • Plant
  • Healthcare & Pharmaceuticals
    • Animal
    • Plant
  • Food & Beverages
    • Animal
    • Plant

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa