The Latin America, Middle East and Africa Keratin Products Market would witness market growth of 8.4% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Keratin Products Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $50.9 million by 2031. The Argentina market is showcasing a CAGR of 9.2% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 7.5% during (2024 - 2031).
This market continuously evolves, driven by consumer preferences, technological advancements, and industry innovations. The shift towards formaldehyde-free keratin treatments is a significant trend driven by increased consumer awareness of health risks associated with formaldehyde. Brands are developing safer formulations that provide similar benefits without the potential health hazards. Stricter regulations and standards on chemical ingredients are pushing brands to adopt formaldehyde-free formulations. This trend aligns with broader movements toward safer, more natural beauty products.
Moreover, the use of nano-encapsulation in these products penetrates keratin molecules deeper into the hair shaft, resulting in more effective and long-lasting results. This advanced technology enhances the overall efficacy of treatments. Micro-encapsulation allows for the controlled release of keratin over time, ensuring sustained benefits and improved hair health. This innovation offers more consistent results compared to traditional formulations.
With rising disposable income, consumers in the UAE are more likely to invest in high-quality, premium keratin products for their hair care routines, leading to increased market demand for upscale formulations. According to the UAE Stat in 2020, National Disposable Income of UAE was 1,100,319 AED Million. Increased disposable income fuels the growth of luxury hair salons and spas in the UAE, where keratin treatments are a popular service. There is a rising trend in pet ownership in Colombia, leading to increased demand for comprehensive pet care products. As more Colombians adopt pets, the need for high-quality grooming products, including keratin, grows. Colombian pet owners are increasingly willing to invest in premium pet care products that promise better health and appearance for their pets. This includes keratin-based grooming products known for their benefits in maintaining healthy and shiny coats. Hence, rising disposable income and expansion of the pet care industry in the region is driving the growth of the market.
Free Valuable Insights: The Worldwide Keratin Products Market is Projected to reach USD 2.6 Billion by 2031, at a CAGR of 5.8%
Based on Form, the market is segmented into Powder, Liquid, and Tablet. Based on Product Type, the market is segmented into Hydrolyzed Keratin, Keratin Amino Acid, Alpha-keratin, Beta-keratin, and Bio Peptide Keratin. Based on Application, the market is segmented into Hair Beauty Salon, Skin Cream, Medical, Nutraceuticals, Active Pharmaceutical Ingredient (API), Pet Care and Supplement, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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