The global keratin market reached a valuation of USD 1.58 billion in 2023 and is projected to grow to USD 2.66 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.0% from 2024 through 2032. Rising consumer interest in keratin’s benefits for medical and pharmaceutical applications has been a key driver of this market’s growth. At the same time, heightened environmental awareness is pushing the industry toward more sustainable and ethically sourced keratin, opening new avenues for expansion worldwide.

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Introduction

Keratin is a biochemical that is used in developing and producing personal care products, specifically for nails, skin, and hair. The rising of the salon care and cosmetic industry in Latin America accelerates the regional market growth. There are two types of keratin products available in the market, alpha-keratin products, and beta-keratin products. Alpha-keratin is a type of protein that is mostly used for hair, nails, and making skin soft and wrinkle-free. Beta–keratin provides vitamin A and is used for healthy skin and eyes. Keratin products are used in tissue culture and have several biomedical applications due to biocompatible and biodegradable nature.

Mexico is amongst the top ten markets in the world for cosmetics and personal care products. In Latin America, it is the second-largest market for beauty products. As per the Euromonitor 2017, the consumption of cosmetics in Mexico has grown consistently over the past one and a half decades, owing to the strengthening economy and availability of a variety of both domestic and imported brands.

Mexico continues to lure massive multinational companies that have established both manufacturing and distribution facilities in-country and use Mexico as their distribution center for Latin America. As per Mexico’s National Chamber of the Cosmetics Industry, in the year 2019, the number of Mexican personal care brands rose by three times since 2013.

Rising adoption of grooming products among men and the sudden popularity of beard has surged the demand for hair care products in the country. It represents 20% of the total personal care market. In the past few years, there has been a boom in barbershops and specialty stores that caters to products specifically developed for men and their hair care needs. Furthermore, hair extensions have set quite a trend among the consumers that now has access to both affordable low-quality synthetic options and high-end natural hair extensions, further driving the market growth.

Competitive Players

1. Proteina

2. Hefei TNJ Chemical Industry

3. Avlon Industries, Inc.

4. Brazilian Blowout

5. Cynosure, LLC

6. Global Keratin (GK Hair)

7. Keratin Express

8. Active Concepts LLC

9. Keraplast Technologies, LLC

10. Making Cosmetics, Inc.

11. Rejuvenol

12. Unilever

13. Greentech

14. Akola Chemicals (I) Limited

15. Parchem Fine & Specialty Chemicals

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Recent Developments

• March 2024- Keraplast Technologies, a significant player in the Keratin market, recently made public its intentions to broaden its business operations into new geographical regions, including Europe and Asia-Pacific. The purpose of this strategic move was to strengthen the company's market presence and capitalize on the growing demand for products based on keratin that is becoming more widespread around the world.
  April 2024- One of the most important companies in the Keratin industry, Unilever, recently introduced a new line of hair care products that contain keratin, which allowed the company to broaden its product portfolio. This action was taken with the intention of satisfying the growing demand among consumers for hair care products that are both natural and effective and that contain keratin.

Segmentation

1. By Type

   1. Beta Keratin

   2. Alpha Keratin

2. By Product

   1. Synthetic Keratin

   2. Natural Keratin

3. By Application

   1. Healthcare & Pharmaceuticals

   2. Others

   3. Food & Beverages

   4. Personal care & Cosmetics

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