Allantoin Market size was over USD 400 million in 2015 and shall witness gains over 6% CAGR over the estimated timeframe.
Get more details on this report - Request Free Sample PDF
The global allantoin market size is primarily driven by increasing product applications in the cosmetic industry. The product is extensively used as an ingredient in the cosmetic products including lotions, creams, shaving lotions and shampoos, due to its cell proliferating and moisturizing characteristics. The overall cosmetic industry generated revenue close to USD 200 billion in 2015 and is projected to expand with more than 3% CAGR over the projected timeframe. Upgrading consumer lifestyles and spending dynamics will positively influence the cosmetic industry growth. This trend will ultimately boost the global allantoin market size over the estimated timeframe. Furthermore, gaining popularity of value added cosmetic products including anti-ageing creams & lotions will further complement industry growth.
The global pharmaceutical sector was generated revenue more than USD 1 trillion in 2015 and is forecast to observe gains at over 4% CAGR over the projected timeframe. Increasing medicine and drug developments across the globe for rising diseases including H1N1 and Ebola will positively impact on the pharmaceutical industry, which will subsequently boost the global allantoin market size by 2023. The product finds widespread application base in the pharmaceutical industry as a basic ingredient for creams used in skin treatment for diseases including keratosis, psoriasis, xerosis and eczema. The product is also used in oral wound healing formulations due to its high cell proliferation characteristics.
|Market Size in 2015:||400 Million (USD)|
|Forecast Period:||2016 to 2023|
|Forecast Period 2016 to 2023 CAGR:||6%|
|2023 Value Projection:||670 Million (USD)|
|Historical Data for:||2012 to 2015|
|No. of Pages:||78|
|Tables, Charts & Figures:||60|
|Segments covered:||Application and Region|
|Pitfalls & Challenges:|
Get more details on this report - Request Free Sample PDF
Comfrey extracts carries substantial product constituent. Ban imposed on these extracts in the U.S., Australia and Europe may obstruct the industry growth by 2023, are may negatively impact on the global allantoin market price trends over the estimated period. For instance, in 2001, the U.S. FDA had imposed ban om comfrey extract products for its internal use, particularly due to its pyrrolizidine alkaloid content. Furthermore, confined consumer awareness in regions including Latin America and the Middle East & Africa, towards the product benefits may further hinder business growth. Nevertheless, rapidly growing product applications for cosmetic formulations owing to its superior characteristics will certainly create new growth avenues for the industry players.
Allantoin Market, By Application
Cosmetics held the largest share of the overall allantoin market size in 2015. Booming cosmetics industry across the globe on account of increasing consumer spending power in order to enhance their personal wellbeing will consequently boost the industry growth over the projected period. Furthermore, the industry expansion will by substantially influenced by increasing number of ageing population along with rising consumer awareness regarding health & hygiene will boost industry growth over the estimated period.
The global allantoin market size for pharmaceutical is likely to observe highest gains at 6% CAGR over the projected timeframe. Increasing medical investment across the globe due to consumer proactive nature for self-care and maintaining personal health & hygiene, particularly due to increased consumer spending will boost the industry growth by 2023. The pharmaceutical manufacturers are upscaling their production capacity in order to meet the increasing medicine and drug demand across the globe. This will substantially increase the allantoin market demand over the estimated period.
The global allantoin market size for oral hygiene is forecast to expand with more than 6% CAGR and mark revenue more than USD 170 million over the forecast timeframe. Growing oral care business across the globe will positively impact on the overall industry growth. The product is used in protecting the mouth’s mucous membrane, which helps in offering desirable oral care.
Allantoin Market, By Region
North America, mainly led by the U.S. allantoin market size generated revenue more than USD 120 million in 2015. The region has presence of major pharmaceutical manufacturers which will positively influence the industry growth. Furthermore, increasing product demand in the U.S. for eye drops, nutraceutical products and skin care creams will boost industry growth. Europe, led by Germany is forecast to expand with more than 5.5% CAGR over the projected period on account to substantial cosmetic industry growth in the region. Germany is the one of the prominent cosmetic producer and consumer across the globe. This trend will boost the overall allantoin market size in Europe by 2023.
Asia Pacific, led by China and India, held the largest share of the global allantoin market size in 2015 and is forecast to witness highest gains more than 6% CAGR by 2023. Positive growth indicators of the pharmaceutical and cosmetic industry in China and India, particularly due to enhancing consumer dynamics will significantly boost the regional growth in the coming years. Furthermore, the regional pharmaceutical sector will witness highest growth with 7% over the estimated period due to drifting pharmaceutical manufacturers focus towards establishing their production facilities in China and India. Latin America and Middle East & Africa shall observe promising gains by 2023 on account increasing consumer spending for personal care products.
Competitive Market Share
The global allantoin market size in 2015 was moderately competitive. Key product manufacturers include EMD Performance Materials, Clariant, Lubon Industry, Ashland, Huanghua Suntime and Rita Corp. The industry players are engaged in raw material procurement contract in the initial stage of the industry ecosystem. Companies including Luotian Guanghui and Akema are involved in raw material production and caters the end-user industries including cosmetics and pharmaceuticals.
Allantoin Industry Background
The product is found in biological extracts including the comfrey plants. It has numerous applications across cosmetics, pharmaceutical and oral hygiene. The global allantoin market size is majorly driven by robust product demand across pharmaceutical and cosmetic industry. Upgrading consumer lifestyle and spending dynamics has substantially propelled personal care products demand such as lotions and skin treatment creams owing to positively influence the industry growth over the forecast timeframe. Furthermore, the industry share for cosmetics accounted for the largest application base in 2015. Region wise, Asia Pacific, led mainly by India and China, comprised of the biggest chunk on account of increasing consumer disposable income.