by Skin fibre, commonly known as collagen fibre, is increasingly being used in a variety of cosmetic and healthcare products such as anti-ageing creams and hair care solutions. Skin fibre provides skin firming and hair strengthening properties to these products. Being a natural ingredient extracted primarily from animal and fish skin and bones, skin fibre helps complement the advantages offered by other synthetic ingredients, thus improving the efficacy of end products. With growing preference for natural ingredients in cosmetics and focus on prevention and treatment of hair fall, skin sagging and wrinkles, the demand for skin fibre is rising significantly.
The global Skin Fibre Market is estimated to be valued at US$ 825.1 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the skin fibre market is the increasing demand for eco-friendly and vegan skin care products. Many consumers are shifting towards plant-based products due to environmental and ethical concerns related to animal testing. This has prompted skin fibre manufacturers to develop innovative plant-based alternatives to collagen derived from animal sources. For instance, Konjac fibre extracted from konjac plant is gaining popularity as a renewable and sustainable substitute for collagen in skin care gels and serums. Rise in popularity of clean label products with minimal processing is another trend being observed in the skin fibre market.
Porter’s Analysis
Threat of new entrants: Low barrier to entry but established players enjoy economies of scale and brand recognition.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and undifferentiated products.
Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to supply constraints and reliance of manufacturers on quality supplies.
Threat of new substitutes: Low threat of substitutes as all substitutes have certain limitations over skin fibre.
Competitive rivalry: Intense competition exists among the key players to gain major market share.
Key Takeaways
The Global Skin Fibre Market Size is expected to witness high growth. The market size is projected to reach US$ 825.1 Mn by 2023 growing at a CAGR of 3.1% during the forecast period.
Regional analysis –
Asia Pacific dominates the global market and is expected to maintain its lead during the forecast period. China and India are the major markets in the region owing to large consumer base and rising awareness. North America is projected to grow at a significant rate during 2023-2030 driven by increasing cosmetic industry in the US and Canada.
Key players –
Key players operating in the skin fibre market are TSI Group Ltd., Qingdao Wan Toulmin Biological Products Co., Ltd, HeBei SanXin Industrial Group, Bioiberica S.A.U., Sigma-Aldrich, Inc., Sino Siam Biotechnique Company Limited, Bio-gen Extracts Private Limited, SEIKAGAKU CORPORATION, BRF, and ZPD. These companies are focusing on new product development and market expansion strategies to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
