Biomimetic Peptides to Experience Rapid Growth
With increased demand for cosmetic additives in the market, biomimetic peptides are expected to gain significant traction. On the backdrop of increasing demand for personal care products, and increasing adoption of additives in cosmetics, market for biomimetic peptides is expected to show significant growth during the forecast period.
Biomimetic peptides is a novel product launched in the ingredients market and has shown positive reaction in the initial years. Showcased for their application in cosmetics and pharmaceuticals for increasing the efficacies of the products, the biomimetic peptides have shown growing adoption in the personal care industry.
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Biomimetic Peptides Market: Dynamics
With more than 8% of geriatric population which is expected to increase during the coming years, demand for multiple cosmetics products is expected to increase. Anti-aging and anti-pigmentation products are expected to gain significant traction due to this demand, which in turn is expected to drive the growth of the biomimetic peptides market.
With cosmetic manufacturers investing in research and development to gain edge over their competitors, companies have been experimenting with additives like biomimetic peptides. With proven increase in efficacy and positive studies for human usage, biomimetic peptides are expected to gain significant ground in the cosmetics additives market.
Biomimetic Peptides Market: Segmentation
The Biomimetic Peptides market can be segmented on the basis of end use industry and application.
On the basis of end use industry, the Biomimetic Peptides market can be segmented into:
- Cosmetics
- Pharmaceuticals
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On the basis of application, the Biomimetic Peptides market can be segmented into:
- Anti-aging
- Anti-pigmentation
- Hair growth
- Others
Biomimetic Peptides Market: Regional Overview
South Korea market cosmetics market being ahead of the curve in the cosmetics industry, biomimetic peptides have been prevalent in the market for multiple years. Adoption of biomimetic peptides in the European cosmetics market has been increasing and is expected to show significant growth during the coming years. Asia-Pacific accounts for larger share in the biomimetic peptides market, while Europe can be considered as emerging market.
Stringent regulatory scenario in the European market regarding synthetic components has been one of the prominent hurdle in the adoption of biomimetic peptides in the region. North America is expected to be one of the prominent regions to explore for new entrants as well as emerging players in the market. Increasing adoption of South Korean products in the United States is also expected to benefit the growth of biomimetic peptides.
Biomimetic Peptides Market: Key Players
Biomimetic Peptides is currents in the introduction stage and has multiple low level players in the market. Caregen Co., Ltd is one of the pioneers in the market with their product launched in 2002. Other prominent companies working in the biomimetic peptides market are Koninklijke DSM N.V., Swedish Biomimetics 3000, among others. Companies have been investing in increasing their offering and development of new manufacturing processes.
In 2019, Swedish Biomimetics 3000 invented a trademarked manufacturing processes μLOT. Similar innovations are expected with increase in investments of the top companies. Investments in patents for these products and processes is expected to supplement the growth of the players in the market. The market is expected to see multiple new entrants in the market during coming years. The market is expected to move towards fragmentation on the global scale during the forecast period.
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