Allantoin Market Outlook
According to a new report by Expert Market Research titled, “Allantoin Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global allantoin market reached a value of approximately USD 624.9 million in 2023. Aided by the increasing demand for allantoin in various industries, including cosmetics, pharmaceuticals, and oral hygiene, the market is projected to further grow at a CAGR of 5.30% between 2024 and 2032 to reach a value of USD 851.88 million by 2032.
Allantoin, a non-toxic compound, is widely used due to its moisturising, keratolytic, and soothing properties. This white crystalline powder is derived from uric acid and has shown significant efficacy in promoting healthy skin, wound healing, and tissue regeneration. These properties make it an essential ingredient in skincare products such as creams, lotions, and sunscreens.
The rising consumer preference for skincare products with natural ingredients is one of the primary factors driving the allantoin market growth. With increased awareness about the potential hazards of chemical-based skincare products, consumers are shifting toward natural, safer alternatives. Allantoin, derived from comfrey plants or synthesised, fits well into this demand, leading to a rise in its usage in skincare products.
Simultaneously, the booming health and wellness trend is further increasing the popularity of allantoin, thus accelerating the allantoin market development. As consumers become more aware of the benefits of maintaining good skin health, the demand for products that can aid in skin repair and hydration is increasing. Allantoin, with its demonstrated effectiveness in these areas, has become an ingredient of choice for many cosmetic manufacturers.
The use of allantoin extends to various industries, significantly influencing the allantoin market demand. In the pharmaceutical industry, allantoin is utilised for its healing, soothing, and anti-irritating properties. It is used in topical applications like creams and ointments for wound healing and skin irritation. In the oral hygiene sector, allantoin is an important ingredient in mouthwashes and toothpaste due to its ability to promote the healing of oral ulcers and improve gum health.
Moreover, the growing demand for vegan and plant-based products in the personal care industry has led to an increased emphasis on allantoin as a viable ingredient. With the rise of veganism and the increasing popularity of plant-based diets, consumers are seeking products aligning with these lifestyles, including in their choice of cosmetics and personal care products. As allantoin can be plant-derived, it aligns well with this consumer preference, boosting the allantoin market expansion.
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Allantoin Market Segmentation
The market can be divided based on source, application, and region.
Market Breakup by Source
• Synthetic
• Natural
Market Breakup by Application
• Pharmaceutical
• Cosmetic
• Oral Hygiene
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global allantoin companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Ashland Inc.
• Hefei Home Sunshine Pharmaceutical Technology Co., Ltd
• Clariant AG
• Akema Srl
• Allan Chemical Corporation
• Merck KGaA
• ChemQuest International, Inc.
• McKinley Resources Inc.
• Ensign Chemical, LLC
• Alpha Environmental
• Mil-Spec Industries Corporation
• Others
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