DL-Panthenol Market : A Strong Growth Outlook from 2023 to 2035
Research Nester’s recent market research analysis on “DL-Panthenol Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global DL-panthenol market in terms of market segmentation by product, application, and by region.
Growing Increasing Use in Cosmetics, Personal Care, and Healthcare Products to Drive Growth of the Global DL-Panthenol Market
The global DL-panthenol market is estimated to grow majorly on account of the use of premium products and the increasing spending capacity of people is estimated to drive the market growth as per the market analysis. The increasing potential of panthenol in the treatment of skin disorders and arthritis is expected to drive the growth of the market. The rising use of the nutritional value of panthenol increases its application in the dietary supplements market. The increasing presence of disorders such as diabetes, blood pressure, obesity, and arthritis is estimated to rise the use of panthenol in nutraceuticals. Panthenol is used as a daily nutritional supplement along with vitamins, and minerals to improve deficiency and strength.
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The growing use of panthenol in the place of silicone in the preparation of hair conditioners, shampoos, and other hair preparations is estimated to drive market growth as per the market analysis. The increasing use of personal care products to improve the grooming habits of people is anticipated to drive market growth in the coming years. The average expenditure of cosmetics and personal care products in the United States was estimated to be over USD 180 per annum for each buyer according to the estimations for 2021.
Some of the major growth factors and challenges that are associated with the growth of the global DL-panthenol market are:
Growth Drivers:
- Increasing Consumption of Personal Care Products around the Globe
- Escalating Global Demand for Food & Beverages Sector
Challenges:
The increasing presence of low-cost substitutes in the place of DL-panthenol which include allantoin, N-acetyl glucosamine, urea, and others are some of the major factors anticipated to hamper the growth of the global DL-panthenol market. The humectant properties of these compounds help to moisturize and hydrate skin becoming the best alternative for panthenol products.
By product, the global DL-panthenol market is segmented into food, medical, and industrial grades. The medical grade segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR 5% over the forecast period. The rising utilization of panthenol in pharmaceutical applications is estimated to boost the market segment in the coming years. Panthenol is applied in the preparations of lotions, ointments, and eye drops, cleansing solutions used for contact lenses. The rising usage of panthenol in skin treatments including skin rashes, minor disorders, sunburns, mild burns, and injuries is estimated to drive market growth in the coming years. The growing incidence of skin irritations and eye infections with increasing pollution in the air is also anticipated to boost the market growth during the forecast period. Panthenol helps to moisturize the skin and enhances the rate of wound healing. The number of people who use moisturizers or lotions or creams in the United States was estimated to be over 220 million as of the year 2020.
By region, the Asia Pacific DL-panthenol market is to generate the highest revenue by the end of 2035. This growth is anticipated by an increasing number of people using cosmetics and personal skincare products with rising living standards. Also, the rising adoption of panthenol in the manufacturing of food and beverages sector. In Australia, the percentage value added in the manufacturing of food, beverages, and tobacco was estimated to be 24.97% in 2019 increased from 24.772% in the year 2018 according to data from the World Bank. The growing utilization of panthenol in the medical sector and the increasing use of dietary supplements are estimated to drive market growth. The growing sale of e-commerce and online retail sales across the world is estimated to propel market growth in the region.
This report also provides the existing competitive scenario of some of the key players of the global DL-panthenol market which includes company profiling of BASF SE, Xinfa Pharmaceutical Co. Ltd., Koninklijke DSM N.V., RITA Corporation, Jeen International, Kunshan Tongde Chemical Inc., TRI-K Industries, Anhui Huaheng Biotechnology Co., Ltd., Chemist Confessions, Inc., Tianjin YR Chemspec Technology Co., Ltd,
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