by The global skin fibre market involves production, extraction, and sales of fibres derived from animal skin and connective tissues. Skin fibres find wide applications in food, pharmaceuticals, nutritional supplements, and cosmetic industries. With rising health awareness, demand for fibre-rich food products and dietary supplements is increasing steadily. For instance, skin fibres are used as thickening agent in yogurt, ice cream and sauces to provide fibre content and improve texture. Pharmaceutical companies utilize skin fibres in drug coatings, capsules and tablets for their emollient properties.
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 Dynamics
The rising demand for fibre-rich diet and supplements is expected to drive the growth of global skin fibre market over the forecast period. As per a recent survey by the International Food Information Council Foundation, over 60% of Americans associate fibre with various health benefits like improved digestion, weight management and lowering the risk of diseases. This increasing focus on nutrition is encouraging food companies to launch new products made with natural ingredients like skin fibres that provide soluble and insoluble fibre. In addition, growing cosmetic industry worldwide, predominantly personal care and skincare, has heightened the need for plant and animal derived active ingredients including skin fibres. Key players are investing in R&D to develop innovative skin care products utilizing collagen, elastin and other fibres obtained from animal skin.
Segment Analysis
The global skin fibre market is dominanted by hyaluronic acid segment which holds around 37% share of the total market. Hyaluronic acid has wide application in anti-aging creams due to its ability to retain skin hydration. It helps improve skin elasticity and texture. The collagen segment is the second largest segment, accounting for over 30% share. Collagen is popularly used ingredient for its wrinkle reducing properties. It aids in repairing skin and boosting collagen production within dermal layer.
PEST Analysis
Political: The regulations related to skincare products vary across countries and regions globally. Certain key markets have stringent norms for new product approval and imports. This impacts market strategies of players.
Economic: Higher disposable incomes have led to increased willingness to spend on premium skincare products globally. Rising cosmetic culture also augments the demand. However, economic slowdowns negatively impact non-essential spendings like skincare.
Social: Growing awareness about various skin related issues drives the adoption of advanced skincare regimes. Changing lifestyles and busy schedules increase stress levels affecting skin health. This prompts demand for anti-aging and repair products.
Technological: Continuous advancements in delivery systems aid in enhancing efficacy of active ingredients. Novel formulation techniques help overcome bioavailability issues associated with some active compounds.
Key Takeaways
Global Skin Fibre Market Size 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.
North America holds the largest share of over 30% in 2023 owing to extensive R&D investments and rising focus on anti-aging solutions. The Asia Pacific region is projected to witness fastest growth on account of large population, improving disposable incomes and increasing influence of beauty culture.
Key players operating in the skin fibre market include 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. The major companies are focusing on new product launches through advanced technologies. They are also investing in clinical trials to expand applications of skincare solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
