Phytosphingosine Market to Grow at a CAGR of 6.50% During the Forecast Period 2020-2025

October 12, 2020
Blessy

Phytosphingosine Market size is forecast to reach $2.13 billion by 2025, after growing at a CAGR of 6.50% during 2020-2025. Phytosphingosine is one of the commercial cosmetic products, which corresponds to one of the three sphingoid bases present naturally in the human skin and phytosphingosine being available in the stratum corneum. The main function of this lipid is to maintain healthy skin and control the generation and regulation of lipids on the external layers of the skin, thus assuring natural and regular moisturization.

Key Takeaways

Asia-Pacific is expected to dominate the phytosphingosine market during the forecast period.

High demand for natural and herbal beauty & personal care products is expected to create ample growth opportunities for market expansion.

Phytosphingosine market displays anti-inflammatory and antimicrobial properties and is used in a wide range of cosmetic products such as cleansing wipes, facewash, hair conditioning agents, and facial scrubs.

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Drivers – Phytosphingosine Market

Increase in demand for anti-acne products

Increase in demand for anti-acne products among young population and high demand for bio-based cosmetic products are major factors driving phyosphingosine market across the globe. The demand for moisturizer, facewash and cleansing wipes is on an increase due to rise in per capita disposable income and surge in cosmetics industry. Moreover, escalating awareness among the younger population and changing demographics as a result of rapid urbanization, especially in developing economies, drive the demand for phytosphingosine.

By Application- Segment Analysis

Facewash segment held a significant share in phytosphingosine market in 2019, growing at a CAGR of 6.89% during the forecast period. Phytosphingosine is active at very low concentration and it effectively reduces signs of acne, prevents loss of moisture from the skin, inhibits the growth of microorganisms on the skin, and diminishes redness and inflammation on skin. Facewash containing phytosphingosine cleanses, purifies, and tones the skin. The increase in use of phytosphingosine as an ingredient in facewashes, owing to its quality of reducing blemishes & spots, drives the phytosphingosine market.

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