As per the report published by Allied Market Research, the global ceramide market exceeded USD 85.0 million in 2019, and would reach $133.8 million by 2027, growing at a CAGR of 5.8% from 2020 to 2027.
Rise in demand for antiaging skin care products, shift in preference toward e-commerce sales platforms, and surge in disposable income drive the growth of the ceramide market. 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.
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Ceramide is composed of fatty acid and sphingosine. It is present in the outermost layer of the skin in high concentration. It is waxy lipids or fats that form a skin barrier. Ceramide helps the skin to be bright, young, healthy, and hydrated. So following are some of the major advantages of ceramide that make it an essential part of the skincare routine.
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.
4. The report segments the ceramide market on the basis of type, process, application, and region.
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.
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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.
The ceramide market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2019, accounting for more than one-third of the market. However, the market across Europe is expected to register the highest CAGR of 6.7% from 2020 to 2027.
Ceramide Market By Process
• Fermentation Ceramides
• Plant Extract Ceramides
Ceramide Market By Application
• Cosmetics
• Food
• Others
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