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Phytosphingosine Market Is Expected To Grow At A CAGR Of 6.5% To Reach USD 1,215.5 Million By 2023.

 



(USGovernment-News.Com, December 11, 2018 ) 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.

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