The global phytosphingosine market was valued at $1,215.5 million in 2016, and is expected to reach $1,882.9 million by 2023, growing at a CAGR of 6.5% from 2017 to 2023. Phytosphingosine is a long-chain, complex fatty alcohol that specifically functions as a water-binding agent and possesses preservative qualities. Its name is derived from the term sphingoid, and is present in abundance in mammals, plants, and yeast. It is widely applicable in manufacture of cosmetics, as it reduces inflammation by lowering the level of allergic cytokines. Moreover, phytosphingosine acts as a skin-restoring ingredient and is considered best for use on damaged skin.
Rise in pollution, hectic life styles, and increase in stress, especially among the middle-age population, are some major aspects leading to acne problems. Increase in demand of anti-acne products is the primary factor driving the phytosphingosine market across the globe. The requirement for bio-based active ingredients is on a continuous rise, owing to increase in demand for natural and safer cosmetic products. Moreover, growth in health concerns, especially among the young demographic, and surge in demand for relatively sustainable and eco-friendly products boosts phytosphingosine market growth. However, inconsistent yields and high cost hinders the growth of the phytosphingosine market. Nevertheless, increase in usage of phytosphingosine in pharmaceutical industry is anticipated to provide potential opportunities for market expansion.
The report segments the phytosphingosine market based on application and region. Based on application, the market is categorized into facewash, moisturizer, cleansing wipes, and others. According to region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in this market include the following:
AK Scientific Inc.
Avanti Polar Lipids, Inc.
Beckmann-Kenko GmbH
BOC Sciences
Doosan Corporation
Evonik Industries AG
MolPort
Sigma-Aldrich Co. LLC
Sungwun Pharmacopia Co. Ltd.
Tokyo Chemical Industry Co., Ltd.
KEY BENEFITS FOR STAKEHOLDERS
This report entails the detailed quantitative analysis of current trends and future estimations from 2017 to 2023, which assists to identify the prevailing market opportunities to capitalize on the global phytosphingosine market.
In-depth coverage of the market including drivers, restraints, and opportunities helps professionals to better understand the market behavior.
Detailed study of the strategies of key leaders, partnerships, and acquisitions in the market is provided.
Porter's Five Forces analysis examines the competitive structure of the phytosphingosine market and assists strategists in better decision-making.
Pinpoint analysis of geographical segments helps to identify opportunities for growth within the phytosphingosine market.
KEY MARKET SEGMENTS
By Application
Facewash
Moisturizer
Cleansing Wipes
Others
By Region
North America
U.S.
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
KSA
South Africa
Rest of LAMEA
KEY PLAYERS
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.
