Dallas, Texas, May 26, 2021 (GLOBE NEWSWIRE) — The “Global Allantoin Market Size 2017 By Application (Cosmetics, Pharmaceuticals, Oral Hygiene, and Others), By Region and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The global allantoin market report also includes qualitative insights such as drivers and restraints. The global allantoin market share for different applications have also been covered at a global, regional and country level for the time frame mentioned above.
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By 2025, the global allantoin market revenue is estimated to reach USD 778.1 million. Growing demand as a vital ingredient in cosmetics and pharmaceutical products is expected to augment the global allantoin market size over the projected period.
According to the Voluntary Cosmetic Ingredient Reporting Program (VCRP), allantoin is consumed in more than 1300 cosmetic products. In addition, government support for the use of allantoin in pharmaceutical and cosmetics are expected to increase market reach. For instance, the Japanese Ministry of Health, Labor and Welfare has accepted allantoin as a medicinal ingredient and to be used in the cosmetics industry. Growing penetration in toothpaste, cosmetic creams, shampoos, mouthwashes, lotions, lipsticks, and anti-acne products for the purpose of improving the smoothness of skin, healing wounds, and soothing irritated skin is expected to drive the global allantoin market share in cosmetics and pharmaceutical sectors over the coming years.
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Asia Pacific accounted for more than 30% of the global allantoin market share, both in terms of volume and revenue, in 2017. Growing cosmetics & personal care industry in India, China, Japan, and South Korea is expected to increase allantoin demand over the projected period. Asia Pacific cosmetics & personal care market size accounted for more than USD 100 billion in 2017. Abundant availability of beauty products and increased per capita spending power in developing economies is expected to augment the allantoin market concentration in Asia Pacific cosmetics industry.
Cosmetics, pharmaceuticals, and oral hygiene together dominated the global allantoin market. The volume share of the three segments together is anticipated to increase from 91.8% in 2017 to 92.2% by 2025, implying the others segment losing its share. The unique properties of the chemical coupled with the rising demand from consumers for this ingredient in formulations are expected to play a vital role in driving the global allantoin market growth over the forecast period.
Clariant, Ashland, RITA Corporation, Akema Fine Chemicals, Merck KGaA, LUBON INDUSTRY, Huanghua Suntime Chemical Industry Co., Ltd, and Allan Chemical Corporation are the leading players present within the global allantoin market. Manufacturers operating in this industry are increasing production of glyoxylic acid, a key raw material used in the production of allantoin.
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Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3. Market Outlook
Chapter 4. Allantoin Market Overview, By Application
Chapter 5. Allantoin Market Overview, By Region
Chapter 6. Industry Structure
Chapter 7. Company Profiles
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