Keratin Market Growth & Trends
The global keratin market is expected to reach USD 2.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2022 to 2030. The growth is attributed to the increasing consumption of keratin personal care & cosmetic industry. The product 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.
It is primarily consumed in haircare products such as shampoos and conditioners. The product is also used in a wide variety of other cosmetic products such as hair smoothening creams, gels, soaps, and facewashes. These products are extensively used by commercial beauty parlors and salons. Personal care & cosmetic products have become an integral part of the lives of the masses across the world. This dependency is anticipated to increase the demand for personal care & cosmetic products worldwide over the coming years. The rising consumption of personal care & cosmetic products that offer added nutrition to skin and hair is anticipated to lead to an increased demand for keratin in the coming years.
Vegetables such as carrots, garlic, sweet potatoes, broccoli, kale, and onions are significant providers of keratin. These vegetables are not only good for flavoring the food products but also help improve their immunizing properties by increasing the volume of keratin present in food products. Food & beverage companies include these vegetables in their products to certify them as healthy and nutritious. The prevailing trend of veganism worldwide is expected to fuel the consumption of plant-based keratin in the form of food products in the coming years.
Europe is a prominent consumer of keratin, driven by wide product application in industries such as personal care & cosmetics, healthcare & pharmaceutical, and food & beverages. The product is an essential source of protein and nutrition in personal care products such as shampoos and conditioners, pharmaceutical products such as protein tablets, and food & beverages such as healthy packaged food. Rising consumption of all three in Europe is expected to bolster the demand for the market in the forecast period.
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Keratin Market Report Highlights
Hydrolyzed product type witnessed the fastest growth rate with a CAGR of nearly 6.6%. This is attributable to its quality as 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
Personal Care & Cosmetic Market accounted for the major share of the market by revenue and volume in 2021 owing to the increasing demand for Keratin from personal care & cosmetic market
Asia Pacific dominated the 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 key players in keratin market include Hefei TNJ Chemical Industry Co. Ltd., BASF SE, Active Concepts LLC., Parchem Fine & Specialty Chemicals and others. These companies are involved in the rapid research & development and dominate the global keratin market with their extensive presence throughout the value chain
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