New York, June 28, 2022 (GLOBE NEWSWIRE) -- Persistence Market Research reveals that the cosmetic peptide synthesis market was valued at US$ 182.1 Mn at the end of 2021 and it is expected to increase at a CAGR of 5.6% over the forecast period (2022-2032). The cosmetics industry is focusing on the development of new synthetic peptides, as they are been proven to be one of the most promising and effective active ingredients in the growing and innovative cosmetics market.
Consumers are increasingly demanding finished products that deliver proven scientific benefits through the incorporation of well-known, safe, and trusted ingredients. Bioactive peptides have been widely used in cosmetics to provide anti-aging, whitening, and skin renewal effects. Several key cosmetic manufacturers are focusing on commercializing high-quality, cheaper cosmetic peptide synthesis on a wider level to cater to the growing demand for synthetic cosmetic formulations.
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Key Takeaways from Market Study
- Signal peptides accounted for the highest market share more than 73%, by product segment, in 2021.
- The skin care segment gained traction in the global cosmetic peptide synthesis market accounting for the highest market share of 83.3% in 2021.
- Application of anti-aging series peptides dominated the market holding around 55.6% share in 2021.
- Based on end user, cosmetic manufacturers are widely adopting cosmetic peptides to prepare synthetic formulations, and the segment held a market share of around 48.6% in 2021.
- East Asia accounted for around 37.3% of the global market share in 2021 and is set to exhibit dominance at a CAGR of 6% through 2032.
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“Rising demand for synthetic cosmetic formulations and increasing peptide synthesis service offerings are anticipated to drive demand for cosmetic peptide synthesis over the coming years,” says an analyst of Persistence Market Research.
Market Competition
Given the huge potential of peptide sources, biopharmaceutical synthesis has been gaining great traction in the cosmetics market. However, to sustain the peptide industry and leverage its position in the cosmetics market, pharmaceutical and biotechnology companies are focusing on strategic approaches to accelerate the cosmetic peptides market.
Additionally, to increase the quality, affordability, and sustainability of their products and increase their sales across the world, several market players are strategically entering into collaborative agreements.
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For instance,
- In Jan 2021, BASF signed an exclusive supply agreement with Caregen for the development of four cosmetic peptides - anti-ageing, anti-pigmentation, prone-atopic, and prone-acne skins. Through this strategic agreement, BASF aims to expand its dermo-cosmetics portfolio.
- In February 2020, LipoTrue S.L collaborated with Proya Cosmetics Co., Ltd., a leading Chinese cosmetics company to contribute their support in core technologies for Proya's functional cosmetic product line.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the cosmetic peptide synthesis market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032.
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The research study is based on the product (signal peptides, neurotransmitter inhibitors, carrier peptides, enzyme inhibitor peptides, and others), end product (skin care [creams and moisturizers, sunscreen lotions, and serums] and hair care [creams and serums]), application (hair/eyelash/eyebrow care series peptides, whitening series peptides, anti-aging series peptides, skin renewal series peptides, anti-allergic & anti-inflammatory series peptides, and others), and end user (cosmetic manufacturers, cosmetic contract manufacturers and, biopharmaceutical industries [personal care]), across four key regions of the world.
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