The global ceramide market is expected to reach USD 360.4 million by 2022, according to a new report by Grand View Research, Inc. Increasing demand for anti aging and environmental protection skin care products are expected to drive the overall industry growth. Social factors such as changing lifestyle coupled with increasing geriatric population base particularly in Japan, U.S. and parts of Europe has created novel demand for ceramide based products in the recent past and this trend is expected to continue over the next seven years.
Expanding application base in food and pharmaceutical industries is also expected to have a positive influence on the market growth. Key personal care product manufacturers such as Elizabeth Arden Inc, Pur minerals, Kao Group, Etvos, L’Oreal, Avon Products Inc., Oriflame, Revlon Inc., Beiersdorf and Paula’s Choice are widely using ceramides for innovative skin and hair care solutions.
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Further key findings from the report suggest:
- Global ceramide market was estimated at USD 239.2 million in 2014 and is expected to reach USD 360.4 million by 2022, growing at a CAGR of 5.4% from 2015 to 2022.
- Cosmetics were the leading application segment and accounted for over 65% of total market revenue in 2014. Ceramide is used in wide range of cosmetic products including hair treatment, skin care and makeup products. Growth of personal care industry particularly in Asia Pacific is expected to drive this segment over the forecast period.
- Food is expected to witness the highest growth of 5.5% over the forecast period on account of changing consumer lifestyle coupled with growing demand for organic products. Ceramides are currently used in food additives and supplements. Nutraceutical manufacturers are expected to expand ceramide based food supplements product line over the forecast period.
- Asia Pacific was the leading regional market with demand share exceeding 35% in 2014. Growth of personal care industry in India and China coupled with increasing geriatric population in Japan and South Korea is expected to drive the regional growth over the forecast period. Asia Pacific is also expected to witness the highest growth of 6.2% from 2015 to 2022.
- Global ceramide industry is consolidated in nature and is dominated by top multinational corporations which have presence across the value chain. Key companies operating in the global market include Evonik, Macrocare Tech Ltd., Cayman Chemical, Doosan Corporation, Anderson Global Group LLC, Xi’an Aladdin Biological Technology, Bo-Kwang Chemical Co. Ltd, Unitika, Pioneer Biotech, Incospharm Corporation, Wuhan Saiguang, Ashland Inc., Kao Group and Sederma.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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