1. Introduction of Sericin Market Type
Depending on the extraction method used, sericin is available in both solid and liquid forms. Solid sericin is favored by most industries due to the flexibility of application and easier availability.
2. Global Sericin Market Revenue Analysis by Type
The revenue of solid sericin increased from $221.26 million in 2018 to $254.88 million in 2023, showing a fluctuating but overall upward trend. The revenue from liquid sericin has also shown growth, increasing from $54.79 million in 2018 to $64.23 million in 2023.
Overall, the total revenue of the global sericin market has increased from $276.05 million in 2018 to $319.11 million in 2023. This indicates that sericin, as a biomaterial, is continuously expanding its market acceptance and application scope.
Table Global Sericin Historic Revenue (M USD) by Type (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Solid |
221.26 |
228.83 |
206.01 |
225.26 |
244.09 |
254.88 |
|
Liquid |
54.79 |
56.87 |
51.42 |
56.38 |
61.26 |
64.23 |
|
Total |
276.05 |
285.70 |
257.43 |
281.64 |
305.36 |
319.11 |
3. Solid Market Sales and Growth Rate Analysis
In 2019, the global sales volume of solid sericin reached 3491.8 tons, a slight increase from 3350.1 tons in 2018, with a growth rate of 4.23%. However, in 2020, the sales volume decreased to 3169.4 tons, with a negative growth rate of -9.23%. Afterwards, sales gradually recovered and reached 3416.3 tons in 2021, with a growth rate of 7.79%. From 2021 to 2023, the sales volume of solid sericin continued to grow, with a growth rate of 6.52% in 2022 and a sales volume of 3639.1 tons. In 2023, the sales volume further increased to 3856.1 tons, with a growth rate of 5.96%. This indicates that although the market experienced a significant decline in 2020, it has recovered and continued to grow in the following years, demonstrating the resilience and growth potential of the solid sericin market.
Figure Global Solid Sales (Tons) and Growth Rate (2018-2023)
4. Solid Market Price Analysis
In 2018, the global price of solid sericin was $66.0 thousand per ton, and then slightly decreased to $65.5 thousand per ton in 2019, with a growth rate of -0.78%. In 2020, the price further decreased to 65.0 thousand US dollars per ton, with a growth rate of -0.82%. However, from 2020 to 2022, the price of solid sericin showed a trend of recovery and growth. In 2021, the price increased to $65.9 thousand per ton, with a growth rate of 1.44%, and reached its highest point of $67.1 thousand per ton in 2022, with a growth rate of 1.73%. In 2023, the price slightly decreased to $66.1 thousand per ton, with a growth rate of -1.46%. Overall, the price of solid silk glue has experienced fluctuations of first decreasing, then increasing, and then slightly decreasing.
Figure Global Solid Price (K USD/Ton) (2018-2023)
5. Liquid Market Sales and Growth Rate Analysis
In 2019, the global sales volume of liquid sericin reached 826.5 tons, a slight increase from 790.1 tons in 2018, with a growth rate of 4.60%. However, the sales volume significantly decreased to 753.4 tons in 2020, with a growth rate of -8.84%. From 2020 to 2021, the sales volume of liquid sericin has significantly rebounded, reaching 814.4 tons in 2021, with a growth rate of 8.09%. This growth trend will continue in 2022, with sales increasing to 869.8 tons, a growth rate of 6.81%. In 2023, the sales volume of liquid sericin will further increase to 925.4 tons, with a growth rate of 6.39%, indicating a stable recovery and growth of the market.
Overall, although the liquid sericin market experienced a significant decline in 2020, the sales volume recovered and continued to grow in the following years, indicating that the market has resilience and growth potential. Especially the sustained growth from 2021 to 2023 may be attributed to the increased demand for liquid sericin in the market or advancements in production technology.
Figure Global Liquid Sales (Tons) and Growth Rate (2018-2023)
6. Liquid Market Price Analysis
The global price of liquid sericin was 69.3 thousand US dollars per ton in 2018, and slightly decreased to 68.8 thousand US dollars per ton in 2019, with a growth rate of -0.77%. In 2020, the price continued to decline slightly to 68.2 thousand US dollars per ton, with a growth rate of -0.81%. From 2020 to 2022, the price of liquid sericin showed a trend of recovery and growth. In 2021, the price increased to 69.2 thousand US dollars/ton, with a growth rate of 1.45%. In 2022, it reached its highest point of 70.4 thousand US dollars/ton, with a growth rate of 1.73%. However, in 2023, the price slightly decreased to 69.4 thousand US dollars per ton, with a growth rate of -1.45%.
Figure Global Liquid Price (K USD/Ton) (2018-2023)
7. Introduction of Sericin Market Application
Pharmaceuticals: Sericin can form gels, microparticles, and nanoparticles, providing stability through a strong affinity to drug molecules. Due to its inherent biological properties, sericin can be used as a component of pharmaceutical preparations for various biomedical applications such as antitumor, antibacterial, and antioxidant applications. Sericin has a variety of pharmaceutical applications including solubility enhancement, release modifications, formulation stabilization, and as a drug carrier, etc.
Cosmetics and Personal Care: Sericin can be used as an additive to high-grade cosmetics. The amino acid components of sericin provide excellent moisture absorption and retention on the skin. Sericin can inhibit the activity of tyrosine and the formation of melanochrome effectively, thus having whitening effects. Sericin is added to cosmetics such as lotions, creams, and ointments to increase skin elasticity and reduce wrinkles and signs of aging.
Textiles: The sericin is fixed on the surface of the fiber fabric through a cross-linking agent so that the fiber has both the original performance and the functional characteristics of the sericin, which improves the wear ability and value of the fabric. For example, the properties of cotton fabrics are improved after being treated with sericin. In the presence of sericin, the tensile strength and wrinkle recovery rate of cotton fabrics are not affected, but the hygroscopic properties may be significantly affected. Sericin can serve as a biopolymer to meet current consumer demand for natural bioactive textiles with potential applications in the textile industry and environmental purification.
Food: Food products made from sericin help diabetics maintain their dietary habits. Edible coatings or films made from sericin not only have anti-browning, antibacterial, and antioxidant properties but can also improve the nutritional properties of foods.
8. Global Sericin Market Revenue Analysis by Application
The revenue in the pharmaceutical industry has steadily increased from $24.29 million in 2018 to $30.79 million in 2023. The cosmetics and personal care sectors are the largest application markets for sericin, with significant revenue growth during this period, increasing from $189.91 million in 2018 to $214.73 million in 2023, despite experiencing a revenue decline in 2020. The textile industry has also shown stable growth, increasing from $43.73 million in 2018 to $52.13 million in 2023. The revenue growth in the food sector has remained relatively stable, increasing from $18.13 million in 2018 to $21.46 million in 2023.
Overall, the total revenue of the global sericin market has increased from $276.05 million in 2018 to $319.11 million in 2023, with the growth in the cosmetics and personal care sectors contributing the most to the overall revenue increase, reflecting the widespread application and demand growth of sericin this field.
Table Global Sericin Historic Revenue (M USD) by Application (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Pharmaceuticals |
24.29 |
25.62 |
23.46 |
26.46 |
28.95 |
30.79 |
|
Cosmetics and Personal Care |
189.91 |
195.84 |
175.89 |
191.02 |
206.20 |
214.73 |
|
Textiles |
43.73 |
45.66 |
41.36 |
45.57 |
49.65 |
52.13 |
|
Food |
18.13 |
18.58 |
16.72 |
18.59 |
20.55 |
21.46 |
|
Total |
276.05 |
285.70 |
257.43 |
281.64 |
305.36 |
319.11 |
9. Global Sericin Market Sales Volume Analysis by Application
The sales volume in the pharmaceutical industry has steadily increased from 284.6 tons in 2018 to 360.4 tons in 2023. The sales volume in the cosmetics and personal care fields has significantly increased during this period, from 2645.3 tons in 2018 to 2982.5 tons in 2023. Although there was a slight decline in 2020, it quickly recovered and continued to grow in the following years. The sales volume in the textile industry has also shown stable growth, increasing from 865.2 tons in 2018 to 1030.6 tons in 2023. The sales volume in the food sector has remained relatively stable, increasing from 345.1 tons in 2018 to 408.1 tons in 2023.
Overall, the total sales volume of the global sericin market has increased from 4140.2 tons in 2018 to 4781.5 tons in 2023, with the growth in the cosmetics and personal care sectors contributing the most to the increase in total sales volume.
Table Global Sericin Historic Sales Volume (Tons) by Application (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Pharmaceuticals |
284.6 |
302.5 |
279.2 |
310.5 |
334.0 |
360.4 |
|
Cosmetics and Personal Care |
2645.3 |
2748.9 |
2488.8 |
2662.6 |
2822.7 |
2982.5 |
|
Textiles |
865.2 |
910.5 |
831.4 |
903.1 |
967.2 |
1030.6 |
|
Food |
345.1 |
356.4 |
323.4 |
354.4 |
385.1 |
408.1 |
|
Total |
4140.2 |
4318.3 |
3922.8 |
4230.6 |
4508.9 |
4781.5 |
