North America Keratin Products Market Estimated to Grow at a CAGR of 6.6% from 2022 to 2031, Transparency Market Research, Inc.

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Jan 16, 2023, 09:30 ET

Keratin products market demand can be attributed to its rising usage in the cosmetic and personal care industry due to its rejuvenating effects on skin and hair
Consumer shift toward innovative cosmetic products that are safe to use and sustainable has created multiple business opportunities for the global keratin products industry

WILMINGTON, Del., Jan. 16, 2023 /PRNewswire/ -- As per the keratin products market report by TMR, keratin products have gained momentum in recent years as a result of extensive marketing and advertising. Social media posts have the power to influence customers and attract their attention toward novel cosmetic products. Furthermore, the rising preference for aesthetic appeal among millennial has opened new avenues for the global keratin products market.

The research report states that in 2021, the keratin products market in North America was valued at US$ 2.2 Bn. From 2022 to 2031, it is projected to increase at a CAGR of 6.6%, and surpass US$ 4.2 Bn by the end of the forecast period.

Keratin is a protein that strengthens the cells that form nails, skin, and hair. Keratin products can be used by both men and women as cosmetics, and dietary supplements. Hence, suppliers in the industry are striving to launch unisex products.

Development of organic keratin products is anticipated to provide promising expansion opportunities. Vendors are investing considerably in R&D to launch new products. Keratin product industry players are also providing online retail services to boost their revenue.

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Keratin Products Market: Growth Drivers

Keratin-based supplements support growth and preserve hair health. A regular intake of keratin supports and fortifies the nails. These characteristics have led pharmaceutical and healthcare sectors to employ keratin in the production of several medications and dietary supplements. This factor is anticipated to lead to keratin products market development.
Personal care and cosmetic products are essential for personal hygiene. Keratin treatments enhance shine and reduce frizz of hair. The treatment also promotes skin health. Keratin-based anti-aging creams are gaining popularity among the elderly population. Consequently, it is anticipated that the keratin products market will show voluminous growth in the next years.

Key Findings of Keratin Products Market

To meet the rising consumer demand, industry vendors are heavily spending in R&D activities to introduce cutting-edge products, such as keratin-based hair sprays. They are also introducing vegan and plant-based keratin products to enhance their keratin products market share.
Keratin-based products are vegan or plant-based and give the hair fibrous qualities that help shield it. The protein that prevents hair breakage is also replenished by these products. By using multifunctional active ingredients, new products such as keratin-based body lotion can soothe, hydrate, and offer hair care.
During the forecast period, the plant keratin source segment is anticipated to lead the keratin products market. Majority of vegan keratin comes from natural sources; it is not processed with chemicals or any artificial materials. The vegan keratin market share has grown exponentially due to a growth in usage of cruelty-free cosmetic products, particularly among the youth.
During the forecast period, it is anticipated that the online distribution channel would expand rapidly. Rising customer's preference for online platforms to choose items based on their needs coupled with brand promotions and discounts on internet platforms may open up new growth avenues for the global market.

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Keratin Products Market: Regional Dynamics

North America is projected to lead the keratin products market. This is due to the increased use of hair care and skin care products by customers. Further, presence of key manufacturers in North America has created immense growth opportunities for the global market.

Keratin Products Market: Competitive Landscape

Constant product innovation and quick adoption of cutting-edge technology are driving the expansion of key companies in the keratin products market. In order to function effortlessly in the market space, emerging firms in the sector are concentrating on vertical integration of their operations and cooperating with existing brands to expand their worldwide footprint.

Leading players operating in the market are

Unilever,
OUAI Haircare
L'Oréal Group
Henkel AG & Co.
Keranique,
Wella Company
Johnson & Johnson. KGaA
Everest NeoCell LLC
Inspired Beauty Brands
Peter Coppola

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Keratin Products Market: Segmentation

Product Type

Hair Care Products

Shampoos
Conditioners & Masks
Serums & Oils
Others (Gels, Hair Colors, etc.)

Skincare Products

Creams & Moisturizers
Skin Serums
Others (Face Washes, etc.)
Decorative Cosmetics
Dietary Supplements
Others (Nail Oils, Nail Serums, etc.)

Keratin Form

Alpha-keratin
Beta-keratin

Keratin Source

Plant
Animal

Price

Low
Medium
High

Consumer Group

Men
Women
Unisex

Distribution Channel

Online

E-commerce Websites
Company-owned Websites

Offline

Hypermarkets/Supermarkets
Specialty Stores
Other Retail Stores

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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