Global Sericin Market Overview
The Sericin Market Size was estimated at 1.49 (USD Billion) in 2022.The Sericin Market Industry is expected to grow from 1.65(USD Billion) in 2023 to 4.1 (USD Billion) by 2032. The Sericin Market CAGR (growth rate) is expected to be around 10.65% during the forecast period (2024 - 2032).
Key Sericin Market Trends Highlighted
Within the sphere of the global skincare and cosmetics market, the Sericin market can be regarded as an emerging young eagle with bright prospects in the future. The growth of the market is attributed to the rising popularity of sericin among consumers due to its natural and eco-friendly skincare solutions. Sericin is a protein that is extracted from silk and it is well known for its unique properties of moisturization, anti-ageing and wound healing. Some of the factors that have fueled market growth include growing disposable income, ascendance of online shopping and increasing cases of skin conditions like eczema and psoriasis.
The fortunes in the Sericin market are plentiful, and the markets offer expansion possibilities for different segments. The market for sericin in the medical aesthetics segment is attractive because of the regenerative and anti-inflammatory effects of sericin that can be useful in advanced skin care. In addition, the rising need for a vegan and cruelty-free approach encourages the search for Sericin that is non-animal based.
Lately, there have been a number of noticeable developments in the sericin market. Thanks to the overall growth in the gross selling sericin blended skin care products market, the brand’s unique selling proposition as a moisturizing and anti-aging serum has improved. Also, the advancement of new delivery systems like nano gel and other encapsulation techniques have further improved the efficiency and stability of sericin-based skin care products. Also, the increasing trend of facial serums and masks enriched with sericin among the target audience has fueled the demand, as these products provide deep penetration and intensive care for ill-affected skin.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Sericin Market Drivers
Growing Demand for Natural and Sustainable Products
Consumers are increasingly seeking natural and sustainable products for various applications, including skincare and cosmetics. Sericin, being a natural protein derived from silk, aligns with this growing demand, as it offers numerous benefits for skin health and is considered an eco-friendly alternative to synthetic ingredients. The rising preference for natural and sustainable products is expected to drive the growth of the Sericin Market Industry.
Increasing Applications in Medical and Healthcare
Sericin is receiving a lot of attention from the medical and healthcare sectors due to its unique features. It is antimicrobial, antioxidant, and wound healing, which are a few of the advantages that make sericin an attractive material for use in wound dressing, tissue engineering, and drug delivery systems. Given the rising demand for advanced wound cure and the field of regenerative medicine, it is likely that the market for sericin will develop at a rapid pace in the medical and healthcare sector.
Technological Advancements in Sericin Production and Extraction
Technological breakthroughs in sericin production and extraction were of utmost importance to the further growth of the Sericin Market Industry. The use of new and innovative technologies, namely, enzymatic extraction and genetic engineering, must be viewed as a factor that allowed the production of high-quality sericin, which could be characterized by higher purity and improved functionality. As a result, the production cost was decreased, and sericin became much more available for different applications.
Sericin Market Segment Insights
Sericin Market Extraction Source Insights
The extraction source segment includes silkworm cocoon, silkworm pupa, silk degumming wastewater and silkworm eggshell. Silkworm cocoon will be the leading segment in terms of extraction source and will fuel the segment’s growth through the forecast period. This is because sericin is primarily concentrated in the silkworm cocoon, making it the most convenient and cost-effective source of its extraction. The segment’s dominance will also be driven by the increasing demand for natural sericin in cosmetics and personal care products. The silkworm pupa segment will also exhibit strong growth over the forecast period.Cosmetics sericin extracted is more effective in moisturizing and anti-aging the skin, driving the demand for sericin from silkworm pupa. Large volumes of byproduct waste are released during the production of silk, and silkworm pupae are among the potential sources of this waste. The segment will also benefit as the silk industry expands, since silkworm pupae are widely available and cheap. Silkworm eggshells, although not as large as other sources in terms of value, have potential for and will be the third-largest segment in the segment during the forecast period.Sericin is a critical manufacturing component of these proteins, as it has excellent antioxidant and anti-inflammatory properties. Due to their wide use in functional foods and nutraceuticals, the silkworm eggshell segment will remain a leading source type segment over the forecast period. Overall, the sericin market is expected to have a stable CAGR over the forecast period, fueled by increasing demand from the cosmetics and personal care, and pharmaceuticals industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Sericin Market Product Type Insights
The Sericin Market is segmented based on product type into liquid sericin, powder sericin, and hydrolyzed sericin. Among these, the liquid sericin segment held the largest market share in 2023, accounting for over 55% of the Sericin Market revenue. This is attributed to its wide range of applications in the cosmetics and personal care industry, particularly in skincare and haircare products. Powder sericin is expected to witness the fastest growth over the forecast period, owing to its increasing demand in the food and beverage industry as a natural food additive and thickener.Hydrolyzed sericin, a water-soluble form of sericin, is gaining popularity in the pharmaceutical industry for its potential health benefits and is projected to contribute significantly to market growth in the coming years.
Sericin Market Application Insights
The Sericin Market is segmented into various applications, including Cosmetics, Biomaterials, Food and Beverages, Pharmaceuticals, and Textiles. The growing demand for natural and organic skincare products, coupled with the rising popularity of anti-aging and moisturizing serums, is driving the growth of the sericin market in the Cosmetics segment. The Biomaterials segment is another major application of sericin, and it is projected to expand at a CAGR of 10.05% during the forecast period. The increasing use of sericin in wound healing, tissue engineering, and drug delivery systems is contributing to the growth of this segment.The Food and Beverages segment is also witnessing significant growth, with sericin being used as a natural food additive and flavor enhancer. The Pharmaceuticals segment is expected to grow steadily, driven by the demand for sericin-based biopharmaceuticals and drug delivery systems. The Textiles segment is projected to witness moderate growth, driven by the increasing use of sericin in the production of high-value fabrics and textiles.
Sericin Market Grade Insights
The market growth is attributed to the increasing demand for sericin in the cosmetic, medical, and industrial sectors. In terms of grade, the sericin market is segmented into cosmetic grade, medical grade, and industrial grade. The cosmetic grade segment holds the largest market share, accounting for over 50% of the global revenue. This is primarily due to the rising demand for sericin in skincare and haircare products. Sericin is a natural moisturizer that helps to improve skin elasticity and reduce the appearance of wrinkles. It also has antibacterial and anti-inflammatory properties, making it an ideal ingredient for acne-prone skin.The medical grade segment is expected to witness significant growth over the forecast period. Sericin has been shown to promote wound healing and reduce scarring. It is also being investigated for its potential use in the treatment of burns, ulcers, and other skin conditions. The industrial grade segment is expected to grow at a moderate pace over the forecast period. Sericin is used in a variety of industrial applications, such as papermaking, textiles, and food processing. It is a natural thickener and emulsifier that can improve the quality and performance of these products.
Sericin Market Molecular Weight Insights
The Sericin Market segmentation by Molecular Weight into Low Molecular Weight and High Molecular Weight provides valuable insights into the market dynamics. In 2023, the Low Molecular Weight segment held a significant market share and is projected to maintain its dominance throughout the forecast period. This segment's growth can be attributed to the increasing demand for sericin in skincare and cosmetic applications due to its ability to enhance skin hydration, reduce wrinkles, and improve skin elasticity. High Molecular Weight sericin, known for its superior film-forming properties, is primarily used in the packaging industry as a biodegradable and edible coating material, contributing to the growth of this segment.The growth of the Sericin Market is driven by factors such as rising consumer awareness of the benefits of sericin for skin health and the increasing adoption of sericin-based products in various industries.
Sericin Market Regional Insights
The Sericin Market segmentation by regions such as North America, Europe, APAC, South America, and MEA provides a comprehensive overview of the market's geographical distribution and growth potential. The regional analysis offers insights into the market size, growth rate, and key trends in each region. In 2023, North America held the largest market share, accounting for around 35% of the Sericin Market revenue. Europe followed with a market share of approximately 28%, while APAC emerged as a promising region with a market share of around 22%.South America and MEA are expected to witness significant growth in the coming years due to increasing demand from emerging economies. The regional segmentation helps businesses identify potential growth opportunities and tailor their strategies accordingly.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Sericin Market Key Players And Competitive InsightsThe Sericin Market is highly competitive, with several key players operating in the market. These players are continuously investing in research and development to improve the quality and performance of their products. Some of the leading players in the Sericin Market include Sumitomo Chemical Co., Ltd., Croda International Plc, Daito Kasei Kogyo Co., Ltd., and Sojitz Corporation. These players have a strong presence in the market and account for a significant share of the Sericin Market revenue.
A leading company in the Sericin Market is Sumitomo Chemical Co., Ltd. The company is a global leader in production of chemicals and pharmaceuticals. Sumitomo Chemical Co., Ltd. has a strong presence in the Sericin Market and offers a wide range of Sericin products. The company’s Sericin products are known for their high quality and performance. Sumitomo Chemical Co., Ltd. is committed to providing innovative and sustainable solutions to its customers. The company is continuously investing in research and development to improve the quality and performance of its products.
A competitor company in the Sericin Market is Croda International Plc. Croda International Plc is a global specialty chemicals company. The company has a strong presence in the Sericin Market and offers a wide range of Sericin products. Croda International Plc’s Sericin products are known for their high quality and performance. The company is committed to providing innovative and sustainable solutions to its customers. Croda International Plc is continuously investing in research and development to improve the quality and performance of its products.
Key Companies in the Sericin Market Include
- Jinan Haohan Pharmaceutical Technology Co., Ltd.
- SERICIN EUROPE
- KISCO
- SHANGHAI SERICIN BIOTECH CO., LTD.
- Huzhou Huagang Sericin Co., Ltd.
- Xinji Pharmaceutical Co., Ltd.
- MERRILL PHARMACEUTICALS
- EVONIK INDUSTRIES AG
- Hangzhou Sensun Biomaterials Co., Ltd.
- SEIKOSHA CO., LTD.
- KANEKA CORPORATION
- TORAY INDUSTRIES, INC.
- Hangzhou Yuxing BioTech Co., Ltd.
- SHISEIDO COMPANY, LIMITED
Sericin Market Industry Developments
The Sericin Market is projected to grow from USD 1.65 billion in 2023 to USD 4.1 billion by 2032, exhibiting a CAGR of 10.65% during the forecast period. Rising demand for natural and sustainable skincare products, coupled with increasing awareness about the benefits of sericin, is driving market growth.Key developments in the sericin market include the launch of new products, strategic collaborations, and mergers and acquisitions. For instance, in 2023, Evonik launched a new sericin-based active ingredient, TEGO Pep 4-Balance, for sensitive skin applications. Moreover, Croda acquired Sederma in 2021, strengthening its position in the sericin market.
Sericin Market Segmentation Insights
- Sericin Market Extraction Source Outlook
- Silkworm Cocoon
- Silkworm Pupa
- Silk Degumming Wastewater
- Silkworm Eggshell
- Sericin Market Product Type Outlook
- Liquid Sericin
- Powder Sericin
- Hydrolyzed Sericin
- Sericin Market Application Outlook
- Cosmetics
- Biomaterials
- Food and Beverages
- Pharmaceuticals
- Textiles
- Sericin Market Grade Outlook
- Cosmetic Grade
- Medical Grade
- Industrial Grade
- Sericin Market Molecular Weight Outlook
- Low Molecular Weight
- High Molecular Weight
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.49(USD Billion) |
| Market Size 2023 |
1.65(USD Billion) |
| Market Size 2032 |
4.1(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
10.65% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Jinan Haohan Pharmaceutical Technology Co., Ltd., SERICIN EUROPE, KISCO, SHANGHAI SERICIN BIOTECH CO., LTD., Huzhou Huagang Sericin Co., Ltd., Xinji Pharmaceutical Co., Ltd., MERRILL PHARMACEUTICALS, EVONIK INDUSTRIES AG, Hangzhou Sensun Biomaterials Co., Ltd., SEIKOSHA CO., LTD., KANEKA CORPORATION, TORAY INDUSTRIES, INC., Hangzhou Yuxing BioTech Co., Ltd., SHISEIDO COMPANY, LIMITED |
| Segments Covered |
Extraction Source, Product Type, Application, Grade, Molecular Weight, Regional |
| Key Market Opportunities |
Cosmetics skincare applications wound healing haircare and textiles |
| Key Market Dynamics |
Rising demand for natural skincare Growing awareness of sericins benefits Technological advancements in sericin production |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Sericin Market is expected to reach a valuation of around USD 1.65 billion in the year 2023.
The growth of the Sericin Market is primarily attributed to the increasing demand for natural and sustainable ingredients in the cosmetics and personal care industry, as well as the rising awareness about the benefits of sericin for skin and hair care.
The Asia-Pacific region is expected to hold the largest market share in the Sericin Market by 2032, owing to the increasing demand for sericin from countries such as China, Japan, and India.
Sericin finds applications in various industries, including cosmetics and personal care, pharmaceuticals, and food and beverages. In cosmetics, it is used as a moisturizing and anti-aging agent, while in pharmaceuticals, it is used for wound healing and tissue regeneration.
Some of the key competitors in the Sericin Market include Sericin Europe, Cocoon Biotech, and Global Sericin Technologies.
The Sericin Market is expected to grow at a CAGR of 10.65% from 2024 to 2032.
The Sericin Market faces challenges such as the availability of raw materials, the high cost of production, and the stringent regulatory requirements.
Opportunities for growth in the Sericin Market include the increasing demand for natural and sustainable ingredients, the rising awareness about the benefits of sericin, and the expansion of the sericin market into new applications.
Key trends in the Sericin Market include the development of new sericin-based products, the increasing use of sericin in combination with other ingredients, and the growing popularity of sericin in emerging markets.
The Sericin Market is expected to reach a valuation of around USD 4.1 billion by 2032.
