Global allantoin market is expected to witness growth on account of rising demand from various application industries including cosmetics, pharmaceutical, and oral hygiene. Furthermore, growing use of allantoin in pharmaceutical products including skin care creams and eye drops is anticipated to boost allantoin market over the forecast period. Allantoin possesses keratolytic, anti-inflammatory and emollient properties which act as an anti-irritant. Furthermore, the superior moisturizing property has resulted in its increasing consumption in cosmetic products as it improves skin texture by keeping it hydrated. Rising industrialization in Asia Pacific, particularly in India, China, and Indonesia, coupled with increasing disposable income is expected to drive allantoin market demand over the forecast period. Growing demand from the pharmaceutical sector for treating bone fractures, ulcers, acne, and healing wound owing to its ability to promote cell proliferation is likely to have a radical impact on allantoin industry growth over the past few years. However, global allantoin industry may be restrained on account of lower consumer awareness regarding the potential benefits of allantoin and imposed ban on the use of comfrey extracts.
Oral allantoin consumption manufactured by comfrey extract leads to severe liver infection and shows carcinogenic symptoms over long term use. It is also utilized in various products including shaving foam, after shave lotion, deodorants, lipsticks and foot care which are expected to provide open new growth opportunities for allantoin market over the next seven years. Furthermore, the market is estimated to witness high growth on account of increasing applications in hair care products including shampoos and conditioners.
Cosmetic applications dominated global allantoin market demand; this trend is expected to continue, on account of rising consumer awareness regarding potential benefits of the product. Rapid urbanization coupled with rising disposable income is likely to fuel allantoin market growth within the cosmetics industry over the forecast period. Growing use in pharmaceutical applications owing to its cell proliferation properties has resulted in its increasing application scope. Rising consumer awareness regarding general well-being is expected to drive pharmaceutical market, which in turn is expected to drive allantoin market growth over the forecast period. Increasing use of the chemical in niche applications including deodorants, aftershave lotion and foot care creams owing to its emollient and anti-irritant properties is likely to affect positively allantoin market growth. Allantoin is widely used in the oral care applications particularly in mouth ulcer treatment gels owing to superior healing properties. Global allantoin industry is estimated to witness high growth on account of its increasing applications scope in oral hygiene sector owing to their emollient properties.
Asia-Pacific accounted for the largest share of the global allantoin market owing to rising demand from industries including pharmaceutical, cosmetics, and oral care. Asia Pacific allantoin market is expected to witness significant growth on account of rising disposable income, particularly in emerging economies such as India and Indonesia, coupled with growing consumer awareness regarding benefits of the chemical. Furthermore, growing allantoin demand, particularly from pharmaceutical industry, owing to increase in application scope is expected to augment market growth over the forecast period. North America allantoin market accounted for a significant chunk of global demand, owing to high usage in pharmaceutical and personal care industry. However, it is expected to witness sluggish growth over the forecast period owing to slower industrial growth in the region. North America and Europe are relatively mature markets and are characterized by new product developments and growing preference towards bio-based products. Europe allantoin market is anticipated to grow at a sluggish rate owing to decreasing demand for cosmetic products in the region. Furthermore, slow recovery from the economic downturn is expected to restrain allantoin market growth over the forecast period. LATAM and MEA are new entrants within the global allantoin market and are expected to witness significant growth owing to its increasing use in various cosmetic and personal care products.
Key participants in the allantoin market include Ashland, Clariant, Rita Corp., Akema, Huanghua Suntime Chemical Industry Co., Ltd., Allan Chemical Corporation, Zhanhua Jinyuan Lide Biotechnology Co., Ltd., Sunwell Chemical Co., Yizhang Hongyuan Chemical Co., Ltd, EMD Performance Materials Corporation, Lubon Industry Co., Ltd., and Luotian Guanghui Chemical Co., Ltd. Akema produces a variety of grades such as Allantoin CTFA, Allantoin USP, Alcoxa, Aldioxa and Almeth for applications including cosmetic, pharmaceutical and personal care industry.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."