-- Global Ceramide market growth is driven by rising demand for antiaging skin care products, shift in preference toward e-commerce sales platforms, and surge in disposable income. However, adverse health effects owing to high concentration hinder the market growth. On the contrary, investment in R&D facilities would open lucrative opportunities for the market growth in the future.
As per the research report by Allied Market Research, Ceramide market was exceeded USD 85.0 million in 2019 and will cross USD 133.8 million by 2027.
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On the basis of application, the cosmetic segment dominated the market in 2019, contributing to more than three-fifths of the market. However, the food segment is projected to portray the highest CAGR of 6.1% during the forecast period.
Based on type, the natural segment held the largest share in 2019, accounting for nearly two-thirds of the market. Moreover, the synthetic segment would manifest the highest CAGR of 6.5% during the forecast period.
The global ceramide market includes an in-depth analysis of the prime market players such as Toyobo, Evonik Industries, Arkema, Cayman Chemical, and Doosan Corporation.
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Covid-19 scenario:
1. The outbreak of Covid-19 severely affected the demand from end users of ceramide such as skincare products and cosmetics manufacturers. Moreover, lockdown measures and travel restrictions have hampered the offline sales of cosmetics and personal care products.
2. Due to the social distancing norms and worldwide adoption of work from home culture, people are leaving home only for purchasing essential products. Thus, direct sales channels and retail stores witnessed a sharp decline in sales of cosmetic products.
3. However, the rise in demand for e-commerce and click-and-collect sales channels offered new opportunities.
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