The global Allantoin market size is expected to reach USD 832.7 million by 2030, according to a new study by Polaris Market Research. The report “Allantoin Market Share, Size, Trends, Industry Analysis Report, By Industry Vertical (Cosmetic, Pharmaceutical, Oral Hygiene, Others); By Source; By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing drug and treatment innovation for new diseases including Ebola and H1N1, would have a beneficial impact on the pharmaceutical industry, driving global allantoin consumer demands throughout the forecast period. Psoriasis, keratosis, and xerosis are among the disorders for which the chemical is used as an active ingredient in skin therapy lotions.
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The need for the extract for skincare products has expanded as a result of globalization and the growing demand for cosmetic items. The cosmetic sector, which promotes anti-aging benefits, is a major driver of allantoin extract for skincare products.
The usage of this extract for skin care has increased as a result of urbanization and changes in consumer lifestyles to protect them from pollution and damaged skin. Allantoin has positive effects on human skin, such as a keratolytic and moisturizing impact, as well as assisting in the elimination of dead skin cells and raising the water content of the skin.
Furthermore, greater support for the use of the product as a component in pharmaceutical and cosmetic products from the US FDA, REACH, and the European Commission is projected to be a positive factor for the growing industry in the coming years. Furthermore, the rising need for chemical in agrochemicals has expanded the market for the chemical, which is predicted to boost the worldwide market size throughout the forecast period.
Consumers' changing lifestyles and increased disposable income, particularly in rising nations like China, India, and Brazil, are likely to drive the personal care demand, boosting growth for the industry. Due to causes such as a hectic lifestyle and environmental harm to human health and skin, the consumption of allantoin-based skin and hair products has increased significantly.
In recent decades, men's grooming has become a mainstream sector, and this industry is expected to continue to grow, propelling the industry. Furthermore, improving oral hygiene awareness, combined with expanding demand for mouth fresheners, teeth whiteners, and mouthwashes, is predicted to boost demand in the coming years. Allantoin, on the other hand, causes liver damage when taken orally. This may hinder industry growth.
Allantoin Market Report Highlights
Polaris Market Research has segmented the allantoin market report based on industry vertical, source, application, and region:
Allantoin, Industry vertical Outlook (Revenue - USD Million, 2018 - 2030)
Allantoin, Application Outlook (Revenue - USD Million, 2018 - 2030)
Allantoin, Source Outlook (Revenue - USD Million, 2018 - 2030)
Allantoin, Regional Outlook (Revenue - USD Million, 2018 - 2030)