Global Phytosphingosine Market was valued at US$ 1.361 Bn in 2017, and is projected to reach US$ 2.312 Bn by 2026, growing at a CAGR of 6.85% during forecast period.
Increasing awareness about maintaining and improving skin functions and rising demand for anti-acne products among youth and shifting demand to bio-based cosmetic products are factors driving phyosphingosine market across the globe. Escalating awareness among younger population and changing demographics as a result of rapid urbanization, especially in developing economies, coupled with improving and changing lifestyle of peoples in emerging economies has led to high demand for face wash, moisturizer, and cleansing wipes.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Also, rise in per capita disposable income favors the growth. However, lack of awareness among consumers, especially in underdeveloped regions, and side effects of inorganic cosmetics act as a barrier for the phyosphingosine market growth. However, increase in application of phytosphingosine in the pharmaceutical industry is anticipated to present lucrative opportunities during the forecast period.
Phytosphingosine has an ability to replenish the skin’s natural barrier function hence is widely used in face wash, cleansing, moisturizer and many other cosmetics. Face wash is anticipated to grow at the fastest rate by 2026. Face wash containing phytosphingosine cleanses, purifies, and tones the skin. Phytosphingosine as an ingredient in face washes has a property of reducing spots & blemishes, hence drives the growth of face wash segment market. Busy schedule of urban population prefer products delivering instant results this has shifted the preference towards the use of synthetic solution rather than the natural one. This acts as an opportunity for face wash segment in phytosphingosine market.
Among regions, Europe dominated the global phytosphingosine market in 2017 and is projected to stay dominant throughout the forecast period. Shift in preference toward natural beauty products and consumer attention toward anti-aging and glowing products drives the market in Europe. However, Asia-Pacific witnessed the highest growth rate during the forecast period. Change in lifestyle, higher disposable income, variation in climatic conditions, and surge in demand for skin & sun care products accelerate the market growth. Increased women spending power propels the use of cosmetics, thus, fueling the growth further.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding phytosphingosine market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in phytosphingosine market.
Global Phytosphingosine Market
Global Phytosphingosine Market, by Application:
• Face wash
• Cleansing Wipes
Global Phytosphingosine Market, by Region:
• North America
• Middle East & Africa
• South America
Key Player Analyzed in the Report:
• Cayman Chemical Company
• Centerchem, Inc.
• Chemos GmbH & Co. KG
• Chemsky (shanghai) International Co., Ltd.
• Hangzhou Dayangchem Co. Ltd.
• J&K Scientific Ltd.
• Meryer (Shanghai) Chemical Technology Co., Ltd.
• Santa Cruz Biotechnology, Inc.
• AK Scientific Inc.
• BOC Sciences
• Avanti Polar Lipids, Inc.
• Beckmann-Kenko GmbH
• Doosan Corporation
• Evonik Industries AG
• Sigma-Aldrich Co. LLC
• Sungwun Pharmacopia Co. Ltd.
• Tokyo Chemical Industry Co., Ltd.
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