Allantoin Market size forecast to exceed $675 Million by 2023: Global Market Insights, Inc.
Market Size - $420.6 Million in 2015, Market Growth - CAGR of 6.2%, Market Trends – Cosmetic industry growth coupled with positive application scope in pharmaceutical sector
Allantoin Market size was estimated at 73.8 kilo tons in 2015 as per the latest research report by Global Market Insights, Inc. Rising disposable income coupled with increasing use of sunscreen and anti-ageing creams are expected factors to positively influence allantoin market share. Global allantoin market size is projected to be worth USD 678.5 million by 2023. Rise in the number of working women accompanied by growth in per-capita spending has led to cosmetic industry expansion acting as favorable factor to stimulate demand.
To access sample pages or purchases this report titled, “Allantoin Market Size By Application (Oral Hygiene, Pharmaceutical, Cosmetics), Industry Analysis Report, Regional Outlook (U.S. Germany, China, Brazil) Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”, please click on the link below:
Cell proliferating and moisturizing are key properties paving ingredient use in cosmetic applications. Creams, shampoo, shaving lotions, and body lotions being a few prominently featured products.
Rising oral hygiene awareness among consumers owing to change in food consumption patterns & hectic lifestyle is projected to fuel allantoin market growth. It protects the mucous membrane inside the mouth and provides a healthy oral environment.
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Pharmaceutical applications are set to attain highest rate, growing at 6% CAGR up to 2023. Rising demand for topical ointments and creams for skin diseases treatment should encourage market growth in pharmaceutical industry. Eczema and psoriasis are known diseases to be cured when included in cream.
MEA cosmetic applications may observe 6.1% CAGR and surpass 2.8 kilo tons by 2023. Lack of consumer awareness in Latin America and MEA may restrict the industry growth. Comfrey extracts usage restriction in U.S., Australia, and Europe are possible factors to influence allantoin market price trend.
In addition, it is used producing oral wound healing products due to its cell proliferation property. Increasing skin diseases occurrence among global population coupled with pharmaceutical industry growth should propel demand. Food & beverages products revision pertaining to add more nutritional content owing to rising health consciousness among consumers may encourage industry growth.
Support from REACH, FDA, and European Commission to use this product as an ingredient in personal care and pharmaceutical products is another favorable factor to drive industry growth. Increasing application scope in agrochemicals owing to superior cell proliferation may stimulate allantoin market in agricultural sector.
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