Phytosphingosine Market Size to Expand at a CAGR of 6.30% during 2023-2028

PRESS RELEASE

Published April 20, 2023

According to the latest report by IMARC Group “Phytosphingosine Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028“, The global phytosphingosine market size reached US$ 1.78 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.59 Billion by 2028, exhibiting a growth rate (CAGR) of 6.30% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Phytosphingosine, a lipid that occurs naturally and is derived from yeast fermentation, is commonly added to skincare products like toners, serums, creams, and makeup to support the skin's barrier function. Its numerous benefits include antimicrobial, anti-inflammatory, anti-aging, barrier repair, and wound healing properties. By aiding in the repair and reconstruction of damaged skin, providing natural moisturization, treating acne and inflammatory skin conditions, reducing the appearance of fine lines and wrinkles, and improving overall hydration and smoothness, phytosphingosine has a wide range of applications in the global personal care and cosmetics industries.

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Phytosphingosine Market Trends:

The phytosphingosine market is being primarily driven by the increasing demand for skincare products worldwide, as people become more conscious of improving their physical appearance and skin health. Another key factor driving market growth is the launch of new skincare products that combine phytosphingosine with hyaluronic acid to offer even greater hydration and barrier repair properties. In addition, there is a growing trend towards using phytosphingosine products to treat various skin conditions such as eczema and psoriasis, which is further boosting market growth. Leading market players are also introducing organic and herbal phytosphingosine products made from natural ingredients that are free from synthetic chemicals and preservatives, making them gentler on the skin and stimulating global market growth. Moreover, there is an increasing demand for anti-acne products, and investments in research and development (R&D) activities in the field of cosmeceuticals are expected to propel the phytosphingosine market in the years to come.

Report Segmentation:

The report has segmented the market into the following categories:

Type Insights:

<98%
98%-99%
>99%

Application Insights:

Facewash
Moisturizer
Cleansing Wipes
Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

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Competitive Landscape:

Avanti Polar Lipids Inc. (Croda International plc)
Beckmann-Kenko GmbH
BOC Sciences (BOCSCI Inc.)
Cayman Chemical Company Incorporated
Evonik Industries AG
Merck KGaA
Santa Cruz Biotechnology Inc.
Tokyo Chemical Industry Co. Ltd.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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