The Allantoin Enables a Keratolytic and Moisturizing Effect on Human Skin

29-November-2018: According to a report published by Grand View Research, Inc.; the allantoin market is expected to reach a valuation of around USD 641.7 million by 2022.

Increasing product in the production of preventive healthcare products due to its moisturizing, soothing, and anti-irritant properties can drive the market during the forecast period (2012 to 2022).

The allantoin enables a keratolytic and moisturizing effect on human skin, which helps to remove the dead skin cells, and improve the water content in skin. These beneficial properties are anticipated to drive its demand in cosmetics and personal care products. Additionally, increasing usage in the manufacturing of oral care products such as mouthwashes and toothpaste is also likely to create positive outlook for the market.

Worldwide allantoin market can be segmented on the basis of application and region.

As per application, the market can be segmented into oral hygiene, cosmetic, pharmaceutical, and other.

In 2016, the pharmaceutical segment estimated for over 31% share of total volume. The segment is expected to show rapid growth during the study period due to increasing use of the product in the manufacturing of wound healing lotions and creams due to its cell proliferation properties. These products are used for treating several skin diseases including eczema and psoriasis.

In 2016, cosmetic segment reported for over 32.8% market share. The segment is expected to grow with estimated CAGR of 6.2% during the forecast period on account of increasing product demand in the manufacturing of bath products, creams, gels, sun care lotions, and face care, hand care, and hair care products.

Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and The Middle East & Africa.

The product constitutes high demand as a plant growth regulator particularly in the established regions like North America and Europe. This is anticipated to create opportunities in the market.

Europe is likely to expand at projected CAGR of 5.6% during the forecast period. This growth can be associated with increasing demand for cosmetics and presence of established cosmetics and pharmaceutical manufacturers in this region. Additionally, high living standard of the citizens along with increasing demand for anti-aging products among female consumers is expected to support the growth in this region.

North America is expected to show significant growth. The U.S. is projected to grow at CAGR of 5.9% during the forecast period due to existence of several top pharmaceutical and cosmetics companies in the country.

Latin America is anticipated to grow at a CAGR of 6.4% during the forecast period due to growing foreign investments in the industries including personal care and pharmaceuticals.

In 2016, Asia Pacific estimated for the largest revenue share of 31.9% of total size. Rapidly growing cosmetics in this region owing to increasing economic condition and changing lifestyle can support the market growth in the coming years.

Key companies operating in the market include Ashland Inc.; Huanghua Suntime Chemical Industry Co. Ltd.; Allan Chemical Corporation; Akema Fine Chemicals; and EMD Performance Materials Corporation.

The manufacturers in the market are likely to make high investments in R&D to increase the application scope for the product in pharmaceutical and personal care applications. The market is extensively pooled with established market participants, which has lead to high competition in the market. The industry is mainly dominated by established companies. The new entry in the market is likely to remain restricted due to requirement of high initial and operating cost. The market has a few numbers of participants who are concentrating on R&D activities to develop efficient and application specific product to meet continuously changing consumers demand. The players are increasingly focusing on improving their production capacity and technologies to improve production. Rising use of the product in cosmetic and pharmaceutical applications has forced major companies to surge their glyoxylic acid production volumes across the world, which is a crucial raw material for manufacturing the chemicals. Moreover, major companies in the market have integrated across the value chain by venturing into raw material manufacturing and distribution channel for reducing operative costs.

In-Depth Research Report On Allantoin Market:

https://www.grandviewresearch.com/industry-analysis/allantoin-market