The skin fibre market consists of fibres extracted from parts of animals, primarily cattle. Skin fibres are obtained from hides and skins through processes like degumming and bating. Compared to plant-sourced fibres, skin fibres are more durable and breathable. They provide thermal insulation and have found widespread applications in leather goods, sutures, artificial skin and wound management products. The growing emphasis on naturally-derived materials is driving demand.
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 growing demand for wound care products and sutures from the healthcare industry is augmenting the skin fibre market. Skin fibres excel as suturing threads due to their high tensile strength and ability to bio-absorb over time. Moreover, their antibacterial properties promote faster healing of wounds.
Globally, the Skin Fibre Market Demand is witnessing increased from developing regions in Asia Pacific and Latin America driven by growth in livestock farming. Also, the establishment of industrial scale leather manufacturing clusters in countries like India, China and Brazil is propelling consumption. Key players are targeting these emerging markets through expansion of manufacturing and distribution networks.
Market Key Trends
One of the key trends in the skin fibre market is the growing popularity of collagen-based products. Collagen is the most abundant protein in skin and offers excellent biocompatibility. Companies are developing novel wound dressings, surgical thread and dermal fillers made from collagen extracts of cattle skin. Their natural composition provides advantages over synthetic substitutes. This has spurred R&D on collagen and driven the market growth.
Porter’s Analysis
Threat of new entrants: New companies can enter the Skin Fibre Market easily as the initial investment required is moderate. However, existing players have established supply chains and brand recognition.
Bargaining power of buyers: Buyers have moderate bargaining power in the skin fibre market as there are numerous suppliers. However, established suppliers with large production capacity have an advantage.
Bargaining power of suppliers: A few major companies dominate the supply of raw materials for skin fibres such as collagen. This gives them significant influence over prices.
Threat of new substitutes: Substitutes exist for some applications but major functions of skin fibres like moisturizing cannot be replaced easily. This reduces threat from substitutes.
Competitive rivalry: The skin fibre market is fragmented with global players competing based on quality, reliability of supply and price.
The skin fibre market in Asia Pacific currently holds the largest share in terms of value owing to high demand from cosmetics and personal care industries in countries like China, Japan and India. North America is projected to witness the fastest growth during the forecast period due to growing awareness about anti-aging skin care products and rising expenditure on premium cosmetic products in the US and Canada.
Europe is another major geographical region concentrated for skin fibres market. Countries like Germany, France and UK spend significantly on advanced skin care products driving demand. Skin fibre producers are also focusing on markets in Latin America and Middle East & Africa for future opportunities owing to rising income levels and increasing consumerism.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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