An examination of the thematic trends within the silk protein market value reflects a steady positive evolution, with a CAGR of 5.80% from 2024 to 2034. Projections for the silk protein industry display a notable advancement, with evaluated figures striking US$ 1,777.28 million by 2034, denoting an ample ascend from the expected valuation of US$ 1,009.66 million in 2024.
The Engine of Silk Protein (SP) Industry
The global silk protein market is ushered by organic cosmetics and personal care items. It is also used as a dietary supplement in developing economies. The demand for silk protein in the medical industry is amplifying due to its antioxidant and coagulation inhibitor attributes, aiding in tissue engineering, plasters, and bandages.
The constant price reductions in the production and installation of silk fibroin solutions, thrust by production efficiencies, inventions, and bolstered competition, augment the adoption of silk protein. Favorable government policies, rules, and stimulants that encourage the adoption, like renewable energy project subsidies and carbon tax mechanisms, reinforce silk protein sales. However, the high seed money requirement for the advancement and set up of silk protein production, majorly for megaprojects, hinders the adoption of silk sericin protein.
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Regional Outlook
North America is a massive region in the industry. The growth is majorly due to the escalating usage in the medical sector. The Asia Pacific market is developing at a swift rate because of the thriving growth in the per capita income of consumers.
“The escalating customer demand for organic and eco-friendly ingredients exhibits optimism for silk protein market growth. The breakthroughs in the processing technology and widening of applications augment the adoption of silk protein.”, Nandini Roy Choudhury, Client Partner at Future Market Insights
Key Takeaways
- The skincare application segment is set to possess a share of 21.50% in 2024.
- In the product type category, the sericin segment is slated to grab a share of 74.50% in 2024.
- The United States silk protein industry is in line to progress at a CAGR of 5.70% between 2024 and 2034.
- Sales of silk proteins in Germany indicate a CAGR of 5.10% through 2034.
- Through 2034, China’s silk protein suture market is set to show escalation at a CAGR of 3.90%.
- Between 2024 and 2034, Japan’s silk protein industry is implied to inflate at a CAGR of 4.60%.
- From 2024 to 2034, India’s silk protein market is forecasted to progress at a CAGR of 5.30%.
Competitive Landscape
The silk protein market is moderately competitive. Silk protein manufacturers concentrate on positive strategies, such as small and medium-sized enterprises (SMEs) acquisitions.
The silk protein vendors strengthen their global presence by establishing diverse commodities. The silk protein producers attract consumers by delivering innovative and copious products employing natural ingredients.
Recent Developments
- Givaudan, an essential manufacturer in the global cosmetics, scents, and flavors segment declared the purchase of AMSilk’s cosmetic business in April 2019.
- Bolt Threads, a biotech firm, and Ginkgo Bioworks, the dominating horizontal platform for cell programming, revealed a partnership in October 2022, to spur the production efficiency and execution of Bolt’s portfolio and evolve it by developing novel biomaterial proteins.
Some of the leading companies offering silk protein are SilkTech Biopharmaceuticals Huzhou Aotesi Biochemical Huzhou Xintiansi Bio-tech Co., Ltd. Kraig Biocraft Laboratories, Inc. (Trading Symbol: KBLB) Evolved by Nature (previously Silk Inc.) Bolt Threads AMSilk GmbH Universal Preserv-A-Chem Inc., Proteina, and SUBONEYO CHEMICALS PHARMACEUTICALS PRIVATE LIMITED.
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Key Segment
By Product:
- Sericin
- Fibroin
By Form:
- Powder
- Oil
By Application:
- Haircare
- Shampoo
- Conditioner
- Skincare
- Cleanser
- Mask and Peels
- Moisturizer
- Serum
- Facial toners
- Eye Care
- Eye Cream
- Mascara
- Nutritive products for Brow and Lash
- Color cosmetics
- Lip Care
- Lip Balm
- Lipstick
- Toiletry
- Bath Gels
- Shave Preparations
- Liquid Hand Soaps
- Soap Bars
- Body Wash
- Pharm and Nutraceuticals
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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