The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
A new market research report titled, ‘Ceramides Market: Global Industry Analysis 2014-2018 and Forecast 2019-2029’, by Persistence Market Research (PMR), offers critical insights for the forecast period 2019 to 2029, and investigates the ceramides market at a global level. As per the findings of the global ceramides market report, the market is expected to grow at a noteworthy rate over the forecast period, as the demand for natural- and plant-based active ingredients from cosmetics and personal care and pharmaceutical industries is on the rise.
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The market value of the global ceramides market was US$ 345.2 Mn in 2018, and it is forecasted that this value will reach around US$ 700 Mn by the end of 2019. The CAGR index at which the global ceramides market is expected to grow throughout the forecast period is over 6% in terms of the market value. This significant growth is a result of several factors that are driving the growth of the global ceramides market with a high level of impact. One of the key driving factors is increasing consumer awareness towards personal care and health that has resulted in a notable hike in the sales of personal care products and drugs across geographies.
East Asia is Expected to Project Significant Growth Opportunities for Global Ceramide Market Players
The number of ceramide market players from East Asia is fairly high. In China, raw material availability is comparatively easy and economical. Furthermore, other production costs such as labor are also economical in China. As a consequence of this, many ceramide market players invest in China for economical production and expansion.
The cosmetics and personal care industry and pharmaceuticals industry in East Asia are highly developed, and consume a fair share of ceramides as active ingredients for the production of skin care & hair care products and drugs. As a result, East Asia emerges as a prominent region in terms of global ceramide consumption. Also, the East Asia ceramides market is expected to project a comparatively higher growth over the forecast period because of the growing end-use industries of ceramides in China.
Cosmetics and Personal Care, by End Use Segment, to Remain Prominent Over the Forecast Period
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The market has been segmented on the basis of process and end use, besides the seven geographical regions.
- On a global level, the cosmetics and personal care end use segment in the ceramides market is expected to hold a prominent share throughout the forecast period. Although the growth projected from the pharmaceutical and healthcare sectors is comparatively high, the sales of ceramides from cosmetics and personal care end uses are expected to remain prominent.
- Under the cosmetics and personal care end use segment, skin care products are expected to consume a fair share of the global ceramides market. This is because of the rising demand for ceramides from anti-aging and moisturizing product manufacturers. Ceramides are known to be highly efficient in repairing a malfunctioned skin barrier system and maintaining skin moisture content. As a result, ceramides are highly preferred by skin care product manufacturers as a key active ingredient. Furthermore, for being popularly used in hair care products for hair strengthening and damage repair, the hair care sub-segment under the cosmetics and personal care end use is expected to grow at a significant growth rate.
- By process, the global ceramides market is expected to witness lucrative growth from the plant-extract ceramides segment. The demand for plant-based ingredients is increasing at a significant rate, and this is expected to create relatively higher demand for plant-extract ceramides over the forecast period.
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- Evonik Industries AG
- Avanti Polar Lipids
- Matreya, LLC
- Ashland Inc.
- Croda International Plc.
- Plamed Green Science Group
- Cayman Chemical Company
- Arkema S.A.
- Toronto Research Chemicals
- Jarchem Industries Inc.
- Shiseido Company