New York, United States, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Ceramide is a lipid complex found in the epidermis' intercellular spaces and is a component of the glycosphingolipids found in plant cells. Natural ceramide is found in plants such as rice, wheat, and soybeans. Ceramide is used in cosmetics and skincare products to improve hydration and moisturization. Online sales channels have made it possible for rural consumers to purchase a product at an affordable price, increasing consumer engagement. The proliferation of supermarkets and hypermarkets in Canada and the U.S. targets new consumer demographics, which should boost the market growth. Galleria Supermarket and T&T Supermarket stock South Korean cosmetics and personal care items. Asia mostly buys these products. Increased disposable income and anti-aging skincare products drive the market. An aging population in the U.S., Japan, and the U.K. increases the demand for cosmetics and dietary supplements. Ceramide, found in cosmetics and food, increases skin hydration and fights age-related skin diseases. As discretionary incomes rise, more consumers can afford personal care and cosmetics. Using these products can improve a person's quality of life and self-confidence. These factors may boost the ceramide market. Growing demand for mobile networks and internet access will boost e-commerce and online sales channels.
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Sharp Increase in Consumer Interest in anti-Aging Skincare Products Drives the Global Market
In recent years, the number of people purchasing anti-aging skin care products like facial cream and lotion has increased significantly. The anti-aging cosmetics market is expanding at a steady rate every day. Anti-aging cosmetics containing ceramide have seen a dramatic increase in demand over the past few years. People in countries like Britain and America are getting older faster than ever before, which is a significant factor. People over the age of 65 in the United Kingdom spend significantly more money on beauty products than those under the age of 65 do. Over 65s spend at least three times as much on cosmetics as younger consumers. The aforementioned factors are responsible for the market's growth.
Innovation and Research Facility Investments Creates Tremendous Opportunities
According to Straits Research, "The global ceramide market size was valued at USD 95.14 million in 2021. It is expected to reach USD 163.49 million by 2030, growing at a CAGR of 6.2% during the forecast period (2022–2030)." Research and high scientific expertise are essential in the ceramide industry. In Europe and the United States, many companies from various industries contribute to developing new cosmetics and other personal care products. Further investment opportunities may arise due to a shift in consumer preferences toward natural products. New economic activities will also be created, leading to a significant increase in new job opportunities for people. In Europe, for example, industry players spend at least 5% of their annual revenue on R&D, which includes 77 innovation facilities and over 28,000 scientists. Those who choose to invest in this manner will be rewarded handsomely by the market.
Regional Analysis
Asia-Pacific is the highest revenue contributor, growing at a CAGR of 5.6% during the forecast period. The market expansion is being driven in large part by an aging population as well as the food habits of consumers. The Asia-Pacific region holds the largest market share, allowing China to dominate. This can be attributed to the high consumption of food supplements and various cosmetics containing rice, wheat, and soybean products. With approximately 149 million tonnes of rice consumed annually, China is the leading consumer of rice, followed by India. Additionally, China and India have a significant demand for products derived from wheat and soybean oil, two of the most important natural sources of ceramide. In addition, the expansion of the market is supported in many countries, including Australia and Singapore, by rising levels of discretionary income and interest in color cosmetics.
Europe is the second-largest contributor to the market and is estimated to reach around USD 52.28 million at a CAGR of 7.1% during the forecast period. The cosmetics industry is the primary driving force behind the growth of the European ceramide market. The most significant contributions to the European market come from Germany and France. The robust presence of major manufacturers and significant expenditures on research and development activities are anticipated to boost European market growth. Both the cosmetics and the cosmetics ingredients industries are known for their high levels of innovation; as a result, industry participants invest approximately 5 percent of their annual revenue in research and development activities. The presence of a large number of research teams in addition to the rapid pace of innovation in the cosmetics industry is both factors that contribute to the expansion of the market in Europe.
Key Highlights
- Based on the type, the global ceramide market has been categorized into Natural and Synthetic. The Natural segment was the highest contributor to the market, growing at a CAGR of 5.8% during the forecast period.
- Based on the processtype, the global ceramide market has been categorized into Fermentation ceramide and Plant extract ceramide. The Plant extract ceramide segment was the highest contributor to the market, growing at a CAGR of 5.8% during the forecast period.
- Based on the applicationtype, the global ceramide market has been categorized into Cosmetics and Food. The Cosmetics segment was the highest contributor to the market, growing at a CAGR of 5.6% during the forecast period.
- Asia-Pacific is the highest revenue contributor, growing at a CAGR of 5.6% during the forecast period.
The global ceramide market’s major players are
- Evonik
- Croda
- Doosan
- Vantage
- Toyobo
- Macrocare
- Unitika
- Ashland
Market News
- April 2022- Doosan enters the semiconductor business with the official launch of Doosan Tesna.
Global Ceramide Market: Segmentation
By Type
- Natural
- Synthetic
By Process
- Fermentation Ceramides
- Plant Extract Ceramides
By Application
- Cosmetics
- Food
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
Get Detailed Market Segmentation @ https://straitsresearch.com/report/ceramide-market/segmentation
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