Sericin Market Size Worth $586.02 Million By 2032 | CAGR: 6.4%

Sericin Market Size Worth $586.02 Million By 2032 | CAGR: 6.4%


The global sericin market size is expected to reach USD 586.02 million by 2032, according to a new study by Polaris Market Research. The report “Sericin Market Share, Size, Trends, Industry Analysis Report, By Form (Solid and Liquid); By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing applications of sericin across the textile industry, particularly in the production of silk fabrics and functional textiles, as it helps in enhancing the properties of materials like softness, smoothness, and moisture-wicking capabilities along with the advancements in technology contributing to scalable and cost-effective production, are among the prominent factors fostering the market growth. Government initiatives and policies promoting the silk industry and related sectors by providing a favorable environment by introducing subsidies, grants, and research funding for silk production can stimulate market growth.

For instance, in February 2023, Evonik announced that they had entered into a strategic agreement with the German biotech company SMSilk, intending to produce industrial quantities of sustainable and innovative silk proteins. It will be used in various applications, including medical devices and smart materials in the automotive and fashion sectors.

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The demand for sustainable and eco-friendly materials across the globe has been drastically rising in recent years. The emergence of the product as a by-product of silk production, offering a sustainable and biodegradable option and positioning sericin as an eco-friendly alternative to synthetic ingredients or materials can appeal to consumers and industries focused on sustainability, which will likely create opportunities for the market in the upcoming years.

Moreover, extensively growing studies regarding the product potential and rapid surge in sericin utilization across the biomedical field due to its controllable chemical-physical properties and several biological activities resulted in increased product adoption as an effective alternative matrix for biomedical applications.

The rapid increase in the prevalence of innovations in surface modification techniques enables the functionalization of sericin for specific applications. It allows the sericin to be modified to enhance its compatibility with other materials or to impart specific functionalities such as antimicrobial or UV protection capabilities coupled with the rising product incorporation into encapsulation and delivery systems to enhance the stability, controlled release, and bioavailability, is strengthening the market at a significant pace.

Sericin Market Report Highlights

  • In 2022, the Solid segment accounted for the largest market share, mainly driven by increased product demand from various industries and a surge in consumer spending capacity.
  • In 2022, the pharmaceutical segment accounted for the highest market share due to its low toxicity, allergic potential, and widespread product use as a matrix for drug delivery systems.
  • In 2022, North America dominated the global market, owing to increased awareness among consumers regarding the benefits of using natural and organic ingredients-based cosmetic and personal care products.
  • The global key market players include Hyundai Bioland, Rita Corporation, Seiren, Specialty Natural Products, Huzhou Xintiansi Bio-tech Co., Ltd., DSM, Dadilan, Xinyuan, Taiyo Kagaku Co., Ltd., Anhui Silk Bioengineering, Beijing Manborui Materials, and Wujiang First Textile.

Polaris Market Research has segmented the sericin market report based on form, application, and region:

Sericin, Form Outlook (Revenue - USD Million, 2023 - 2032)

  • Solid
  • Liquid

Sericin, Application Outlook (Revenue - USD Million, 2023 - 2032)

  • Personal Care & Cosmetics
  • Pharmaceuticals
  • Others

Sericin, Regional Outlook (Revenue - USD Million, 2023 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Sericin Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 334.17 million

Revenue forecast in 2032

USD 586.02 million

CAGR

6.4% from 2023 – 2032

Base year

2022

Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD million and CAGR from 2023 to 2032

Segments covered

By Form, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Hyundai Bioland, Rita Corporation, Seiren, Specialty Natural Products, Huzhou Xintiansi Bio-tech Co., Ltd., DSM, Dadilan, Xinyuan, Taiyo Kagaku Co., Ltd., Anhui Silk Bioengineering, Beijing Manborui Materials, and Wujiang First Textile.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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