Ceramide market was valued at USD 230. 16 million in 2014 and is further predictable to cross over USD 300 million by 2022. The overall industry is projected to go through considerable growth over the coming years.
Factors such as skin aging problems among old generation, social factors and changing lifestyles, mainly among young generation will drive the overall market demand over the forecast period.
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Synthetic ceramide were used for manufacturing skin care and cosmetics product due to its inexpensive nature. Although, green technological solutions like plant- based raw material are developed by advent of biotechnology for production of ceramids on account of its characteristics comparable to naturally occurring cermaides in the skin.
Cosmetics segment contributed for over 65% of the market share in 2014 and is projected to dominate over the coming years. Changing lifestyle and aging population are the global environmental factors expected to contribute towards market growth positively.
Improving economic growth and decreasing unemployment rates is projected to boost consumer purchasing power for expensive products which is turn is anticipated to increase the market demand for ceramide based skin and cosmetic care products worldwide.
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Changing population towards healthy lifestyle coupled with augment in dietary supplements is anticipated to further boost the ceramide demand for nutrional supplements and food additives.
Asia Pacific is estimated to go through considerable gains over the forecast period as the industry is projected to grow at the highest CAGR of 6% from 2015 to 2022. Japan is considered as one the key consumers of ceramides on account of rising demand for anti-aging skin products by larger geriatric population.
Large geriatric population base demanding anti-aging skin products are the huge consumer of ceramides. Furthermore, rising demand for organic and natural cosmetic coupled with favorable regulatory framework is anticipated to boost ceramide demand in North America. Furthermore, rising geriatric population in regions like Spain, Germany, France and UK will impact the overall cermaide market demand in Europe region.
Sederma, Doosan Corporation, Cayman Chemical and Evonik are the key industry participants in the market. Competition among companies and extremely consolidated global market is likely to remain high over the forecast period.
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