Portland, OR, June 01, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global ceramide market generated $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 global 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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Covid-19 scenario:
- 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.
- 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.
- However, the rise in demand for e-commerce and click-and-collect sales channels offered new opportunities.
The report segments the global 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 global 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.
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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.