The Ceramide Market is forecast to reach $586 million by 2025, growing at a CAGR of 7.15% during 2020-2025. Due to the improving economies, consumers’ preferences for multipurpose product features, and a need to retain clean and germ free facilities contribute to the ceramide market growth in in personal care applications.
- Asia-Pacific dominates the Ceramide market owing to increasing demand from applications such as cosmetics and dietary supplement industries.
- The demand for Men’s cosmetics is continuously growing, spurred by the increasing awareness amongst men for personal care products.
By Application- Segment Analysis
The Cosmetics segment held the major share of the market by application and is expected to be dominant over the forecast period. Trends such as the growing aging population and changing lifestyle will further contribute towards positive industry growth.
Innovative and improved products for women’s cosmetics, which are multi-functional is likely to generate the increased sales of personal care products in the forecast period. To reach specific customer needs, manufacturers have introduced specific skin and hair products in the market. The market is also anticipated to be promoted by media penetration, advertising, and various marketing offers. In developing countries, aspects like growing consumers purchasing power, presence of international brands, and rapid urbanization is expected to grow the market in the forecast period. In developed countries, such as Japan, the growing number of old age consumers is driving market for anti-aging, anti-wrinkle and sun protection products. A slowdown of economy in China, increased regulations in the Europe and US, and product effectiveness have hindered sales in recent years. However personal care products represent a strong and resilient market.
The dietary supplements market has been shaped by critical technological, social and regulatory shifts. First, the growing population of senior citizens around the world has caused a shift in healthcare spending. Second, a focus on preventative healthcare has been critical to market growth, as heightened consumer awareness has increased the effectiveness of manufacturers’ marketing efforts. Third, an increase in self-directed care has shaped the markets. With the rise of the internet and the increasing volatility of the healthcare insurance market, more consumers seek help online and become increasingly interested in personalized medicine and care. This is driving the demand for ceramides in the market.
As the market grows, there will be tightening pressure from government agencies and an increase in oversight. The FDA has upped enforcement of dietary violations, which will impact clinical trials and research.With the diversity and power of pets, the pet care industry is growing dynamically and closely following the movements, also the development of human living environment and quality. The demand of pet care keeps increasing caused by the growing number of pets, the attitude of how pet owners treat their pets and the fast-changing of technology implication. From essential to dispensable, a variety of components construct the pet care Industry and make this industry become a hundred-billion valued business worldwide.
Geography- Segment Analysis
APAC dominated the ceramide market with a share of 35%, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing.Japan is considered as one of the major consumers of ceramides on account of nation’s large geriatric population base demanding anti-aging skin products. Favorable regulatory framework coupled with increasing demand for natural and organic cosmetics is projected to drive ceramide demand in North America. Europe is anticipated to have high revenue share in the global market owing to growth of geriatric population particularly in Germany, the UK, France, and Spain. Slow developments coupled with limited application base are expected to result into lower industry growth in Europe.
Drivers –Ceramide Market
Nutraceuticals is expected to play a central role in preventative healthcare. The logic seems simple: an ageing population gives rise to lifestyle-related diseases, whose impact can be lessened by making healthier choices earlier in life. The global market for functional foods certainly presents a big opportunity: sales reached US$250 billion in 2018.
Challenges – Ceramide Market
In the U.S., the FDA regulates both finished dietary supplement products and ingredients found in dietary supplements. As previously noted, dietary supplements are outside of the strict oversight accorded drugs and pharmaceutical products. Instead, they are categorized as a type of food product, and must comply with regulations promulgated under the federal Dietary Supplement Health and Education Act (DSHEA) of 1994 and other more recent legislation.Under current FDA regulations, manufacturers and distributors are directly responsible for evaluating the safety and labeling of their products prior to marketing them for sale, and are prohibited from marketing products that are adulterated or misbranded.
Technology launches,acquisitions and R&D activities are key strategies adopted by players in the ceramide market. In 2018, the top five players accounted for xx% of the share. Major players in the ceramide Market areEvonik, Doosan Corporation, Macrocare Tech Ltd., Sederma, Cayman Chemical,Xi’an Aladdin Biological Technology, Unitika, Incospharm Corporation, Kao Group, Ashland Inc., Anderson Global Group LLC, Wuhan Saiguang, Pioneer Biotech, and Bo-Kwang Chemical Co. Ltd among others.
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Mr. Venkat Reddy