Sericin Market to Reach US$ 537.6 Million by the End of 2032, States Fact.MR
Widening Application Spectrum of Sericin is Providing Untapped Opportunity. Pharmaceutical Industry To Drive the Demand
Rockville, Feb. 07, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global sericin market is estimated at US$ 303.6 million in 2022 and is expected to expand at a CAGR of 5.8% during the forecast years of 2022-2032.
Sericin used in anti-aging products has significant importance as the silk protein increases skin elasticity and holds antioxidant properties by preventing lipid peroxidation.
Many research papers have published studies indicating the benefits associated with ingesting sericin orally, namely hair, skin, and nail health-related benefits which provides a definite push to the market. The dietary supplement market shows immense growth opportunities, owing to the fact that people are becoming health conscious and moving towards healthier lifestyles and are in taking supplements to meet daily nutrient requirements.
Download Sample Copy of This Report:
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.
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.
Get Customization on this Report for Specific Research Solutions:
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.
Huzhou Aotesi Biochemical Co., Ltd
Huzhou Aotesi Biochemical Co., Ltd.,
Specialty Natural Products Co. Ltd
Get Full Access of Complete Report:
Segmentation of the Sericin Industry Research
Personal Care & Cosmetics
South Asia & Oceania
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).
Check Out More Related Studies Published By Fact.MR Research:
Premium Beauty and Personal Care Products Market - In FY 2021, the premium beauty and personal care products market reached a valuation of US$ 474.7 Billion, and is likely to register a Y-o-Y growth rate of 4.0% in 2022, closing at US$ 496.63 Billion.
Global Skin Boosters Market - The global skin boosters market is anticipated to secure a market value of US$ 1.03 Bn in 2022, projected to reach US$ 2.5 Bn by 2032 while expanding at a CAGR of 9.26%.
Sun-Care Natural Oils Market - Latest study by Fact.MR on sun-care oils estimates substantial growth in sales for the product owing to rise in popularity of non-toxic and natural skin care products. Further, wide availability of natural oils has enabled consumers to choose from a wide range of products thus boosting product sales in recent years.
Beauty Sheet Mask Market - indicated by the most recent study by Fact.MR, beauty sheet masks business is set to observe rapid development during the period of 2021-2031 with a CAGR of ~9%.
Skin Tac Market - According to the latest research by Fact.MR, the Skin Tac market is set to witness steady growth during 2021-2031. Demand for such wipes will witness steady recovery in short term as expenditure on the health care sector is increasing after the pandemic
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
US Sales Office
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Connect to Author: Mr. Yash Pathak
Email : email@example.com
Sales Team : firstname.lastname@example.org
Follow Us: LinkedIn | Twitter | YouTube