Global Allantoin Market size was valued at USD 473.7 million and estimated to project the value of USD 778.1 million in 2025, registering a CAGR of 6.4 % during the forecast period. Increasing product demand in the manufacturing industry with several personal care products such as mouthwash, toothpaste, conditioners, shampoos is anticipated to witness the market growth over the forecast period.
Due to the growing awareness of medicines and drug developments across the world including H1N1 and Ebola is expected to dominate the pharmaceutical industry. This leads to exponentially drive the global allantoin market demand over the forecast period. The product majorly reports the applications as an elementary ingredient in skin treatment creams for diseases such as xerosis, psoriasis, and keratosis.
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Key manufacturers include Clariant, Ashland, RITA Corporation, Akema Fine Chemicals, Merck KGaA, LUBON INDUSTRY, Huanghua Suntime Chemical Industry Co., Ltd, and Allan Chemical Corporation. Producers operating in this industry are adopting direct distribution channel by offering raw material procurement contract.
The global allantoin market is categorized into several segments including application outlook and regional outlook. In terms of application outlook, the market is fragmented into cosmetic, pharmaceutical, oral hygiene, and others. These products are used in the treatment of several skin diseases such as eczema and psoriasis. The increasing demand for preventive healthcare has led the pharmaceutical application segment to register 51% of the market share in the year 2016. Moreover, the demand for the chemical in the cosmetic industry is anticipated to propel the growth at CAGR of 6.2% over the forecast period. The increasing growth rate of the segment is estimated to increase the demand for the product in the manufacturing cosmetic industry resulting to major properties such as desquamation of dead skill cells and increasing moisture content of skin.
On the basis of regional outlook, the global allantoin industry is a wide range to North America, U.S., Europe, Germany, Asia Pacific, China, Latin America, Brazil, and Middle East & Africa.
The U.S. allantoin market is anticipated to increase the demand at CAGR of 5.9%, accounting to the presence of numerous pharamaceutical organizations in the region. The participation of leading cosmetic manufacturing companies in the U.S. including L’Oreal, Unilever, and Procter & Gamble is estimated to showcase positive growth in the industry. Moreover, the U.S. FDA has banned internal use of comfrey extract product due to its pyrrolizidine alkaloid content. Limited consumer awareness in regions including Latin America and Middle East & Africa towards the product benefits my further hinder the market growth.
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What does the report include?
The study on the global allantoin market includes qualitative factors such as drivers, and restraints
The study covers qualitative and quantitative analysis of the market segmented on the basis of application. Moreover, the study provides similar information for the key geographies
Actual market sizes and forecasts have been provided for all the above-mentioned segments
The study includes the profiles of key players in the market with a significant global and/or regional presence
Key highlights of the report for the forecast period 2019-2025
Allantoin Market Overview, By Application
Allantoin Market Overview, By Region
For Any Query on the Allantoin Market
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