June 16, 2024
Skin Fibre Market

Skin Fibre Market is Estimated to Witness High Growth Owing to Advancement in Skincare Products

The skin fibre market consists of natural plant fibres extracted from various plant parts such as fruit, stems, and leaves. These fibres help hydrate the skin, improve elasticity, and reduce signs of ageing. The growing personal care sector and increasing demand for natural and organic skincare products are spurring the use of skin fibres in various facial and body care creams, lotions, masks, and serums.

The Global Skin Fibre Market is estimated to be valued at US$ 950.52 Mn in 2024 and is expected to exhibit a CAGR of 3.1% over the forecast period 2024 To 2031.

Key Takeaways

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. The key players account for major market share in the global skin fibre market.

The skin fibre market offers lucrative opportunities, such as growing demand for multifunctional skin care products and expansion in emerging economies. Rising influence of social media is fuelling new product development and advances in functional skin care ingredients.

Technological advancement such as development of natural Skin Fibre Market Size with enhanced water retention properties are boosting the skin fibre industry. For instance, citrus fibres are extensively used in anti-ageing creams due to strong antioxidant capabilities.

Market drivers

The increasing global geriatric population who are more prone to skin issues is a key driver for skin fibre market. As per estimates nearly 25% of the population will be aged 60 or above by 2050 compared to 11% in 2006. The rising environmental pollution levels and tough working conditions are damaging skin faster. Therefore, the demand for innovative skincare solutions incorporating natural fibres is growing significantly. The rising awareness regarding benefits of herbal and natural remedies is further propelling the sales of skin care products containing fibres.

Current challenges in Skin Fibre Market

The Skin Fibre Market is facing few challenges currently which includes volatility in raw material prices, high cost of production and lack of skilled workforce. Prices of raw materials like silk, wool, cotton etc fluctuate regularly depending upon various economic conditions which increase uncertainty. High cost of equipment, labor and energy required for processing natural fibres also pose challenge. Finding skilled workers with technical knowledge of fibre processing is also difficult.

SWOT Analysis

Strength: Skin fibres are natural, sustainable and biodegradable. They provide superior aesthetic and tactile qualities.

Weakness: High production cost. Vulnerable to weather changes and pest attacks.

Opportunity: Growing demand for natural, eco-friendly fabrics. Innovation in fibres from new sources like pineapple leaves.

Threats: Synthetic substitutes are cheaper. Stringent quality standards increase compliance cost.

Geographical regions of concentration

North America accounted for the largest share in Skin Fibre market in terms of value in 2020, due to high per capita consumption and extensive applications in apparel, home furnishing and healthcare industries. Countries like US and Canada are major consumers.

Fastest growing region

Asia Pacific region is expected to be the fastest growing market during forecast period from 2024 to 2031. Countries like China, India and Japan are witnessing rapid growth in textile sector which utilizes skin fibres extensively. Increasing population, rising incomes and changing consumer preferences towards natural products will drive the market in this region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it