Cosmetic Grade Phytoceramide Production to Surpass 650 Tons by 2031, Claiming ~55% Amongst the Three Addressable Grades

- Cosmetic Grade Phytoceramides to be the Front Runner with sales approaching US$ 400 Mn by 2031

- The phytoceramides market study by Fact.MR offers compelling insights into key growth drivers and restraints impacting the market through 2031. The survey offers phytoceramides demand outlook and studies opportunities existing in key segments, including concentration and application. It also highlights key strategies adopted by market players to increase phytoceramides sales.

NEW YORK, Aug. 31, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: As per insights by Fact.MR, revenue generated in the phytoceramides market is poised to expand by 1.7X from 2021 to 2031, totaling US$ 394 Mn by the end of 2031.

Growing consumer preference for natural and organic supplements has steered phytoceramides usage in personal care and cosmetic products. As a result, application of phytoceramides in skin care and hair care products has accelerated in recent years. Also, the booming healthcare industry across the globe is positively influencing sales of phytoceramides.

According to a study by the United Nations, the global old age population is projected to surpass the children (0-9 years) population by the end of 2030. Therefore, the market will continue gaining from significant rise in geriatric population over the forthcoming years.

Besides these, emerging trend of offering customized hair care and skincare product solutions has significantly augmented the market growth. Owing to these factors, the global phytoceramides market is set to expand at a CAGR of 5.3% over the assessment period 2021-2031.

The ability of phytoceramides to offer hydration, firmness of facial skin and removing under eye bags is expected to create lucrative opportunities for growth of the market. Apart from this, antioxidant property of phytoceramides will further push demand for skin treatments and therapies.

Growth prospects are likely to remain positive for the U.S. market, driven by increasing spending on cosmetic products, robust presence of pharmaceutical manufacturers and increasing research activities. As per Fact.MR, the U.S. market for phytoceramides accounted for over 20% of global share, totaling US$ 532 Bn in 2020.

"Spurred by expansion of nutraceutical and pharmaceutical industries, the demand for phytoceramides is forecast to grow significantly over the forthcoming years. Besides this, leading market players are collaborating with other renowned companies to gain a strong foothold in the market, says a Fact.MR analyst.

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Key Takeaways from Phytoceramides Market Survey

• Driven by increasing investment in research and development activities, the U.S. market for phytoceramides is expected to grow at a CAGR of 4.3% over the forecast period.
• Germany market for liquid phytoceramides is set to expand at a CAGR of 5.1% between 2021and 2031.
• France is leading the market for phytoceramides in Europe and estimated to account for over 23% of global share.
• Owing to growing geriatric population, Japan is projected to expand at a CAGR of 7% over the assessment period 2021-2031.
• Backed by increasing consumption of anti-aging creams, Brazil is anticipated to rise at a CAGR of 5.4% between 2021 and 2031.

Key Drivers

• Rising demand for sun screens and anti-aging creams is accelerating the market growth.
• Increasing demand for organic and natural products is boosting growth of the phytoceramides market.

Key Restraints

• The outbreak of COVID-19 pandemic is a major factor restraining the market growth.
• Gluten-intolerance may hamper demand for wheat sourced phytoceramide supplement.

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Competitive Landscape

Phytoceramides manufacturers operating in the market are undertaking acquisitions, partnerships and focusing on developing novel applications of phytoceramides in skin care and cosmetic products through research activities.

For instance, in 2021, Seppic announced the acquisition of EPI (Extraction Purification Innovation) France. This acquisition of EPI France opens up new avenues of growth for Seppic in cosmetics and dietary supplements.

In 2021, PLT Health Solutions announced that ceratiq^®  Phytoceramides  has received approval for sale in the Republic of Korea.

Some of the leading companies operating in the market are as follows:

• SEPPIC
• E.P.I France
• Matreya LLC
• PLT Health Solution
• Nuojia Biotechnology Co. Ltd.
• Vidya Herbs
• Dongguan Xin Herbs Phytochem Co., Ltd
• Hunan Nutramax Inc.

More Valuable Insights on Phytoceramides Market

Fact.MR, in its new report, offers an unbiased analysis of the global phytoceramides market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on phytoceramides market with detailed segmentation:

Key Questions Covered in the Phytoceramides Market Report 

• The market survey also highlights projected sales growth for phytoceramides market between 2021 and 2031
• The report offers insight into phytoceramides demand outlook for forecast period 2021-2031
• Phytoceramides market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Phytoceramides market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

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