Panthenol Market research report covers detailed information on Global Panthenol Market Size, Share, application, competition and growth opportunities till 2029
UNITED STATES, September 10, 2021 /EINPresswire.com/ — The current trends across the global panthenol market have been accurately analyzed and presented through this research study published by Fact.MR.
The current trends across the global panthenol market have been accurately analyzed and presented through this research study published by Fact.MR. The assessment is titled “Panthenol Market Forecast, Trend Analysis & Competition Tracking: Global Market Insights 2019 to 2029”, which spotlights the emerging prospects in the cosmetic industry, such as ‘medicinally’ active functional products that are projected to pave a strong path for panthenol market growth. This report serves as a convenient data source enlightening readers about the expected developments in the global panthenol market, together with other market dynamics.
According to research findings, global sales of panthenol surpassed ~9000 tons in 2018, and are projected to exhibit 3.4% Y-o-Y growth in 2019. Apart from the robust expansion of the beauty industry as well as rising consumption by F&B industry operators, the demand for panthenol is anticipated to witness amplifying push due to rising consumer preference for medicinal products containing a ‘cosmetic’ quotient. Interestingly, nutritional profile merged with cosmetic worth of panthenol will continue to function as an instrumental motivator towards sales in the following years. As per report insights, the global panthenol market is expected to record ~5% CAGR during the period 2019-2029.
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The ‘healthier for you’ trend has been influencing consumer sentiments for a while, which is in turn accounting for the sales of various personal care and food & beverage products. In line with greater preference for products with high-quality ingredients, manufacturers of cosmetic and personal care products are focusing on R&D of new and improved range of products. This, according to the report, is expected to form a strong base for the sales of panthenol in the forthcoming years.
Fact.MR’s analysis suggests that the improving standard of living and the subsequent rise in per capita spending of consumers on personal care products have been underpinning sales of a wide range of additives that offer an added value to typical grooming products. Panthenol is anticipated to remain among the highly sought-after one in this category. Moreover, higher consumption of panthenol has been envisaged by manufacturers of cosmetic and male grooming products.
As humectant properties of panthenol are proven, which continue to push its incorporation into a range of ointments for sunburns, as a moisturizer for skincare, and a multi-functional active ingredient for adding value to dietary supplements, the market is likely to witness significant growth in the future.
D-Panthenol Remains Favored over DL-Panthenol
D-panthenol continues to gain increasing demand as compared to DL-panthenol. The report opines that the superior physical activity of the former in terms of skincare continues to promote its adoption over latter. Accounting for ~85% revenue shares in the panthenol market revenues recorded in 2018, D-panthenol has been witnessing increasing applicability in a wide range of products, particularly in the skincare and hair care range. Moreover, recognized as safe for use as a nutrient in animal feed and medicines, D-panthenol is further penetrating as a functional ingredient in animal feed, medication, and pet foods.
According to the study, while the use of panthenol remains prominent in personal care products, manufacturers are diversifying its potential in other application areas as well, such as pharmaceuticals, dietary supplements, and baby care products. Rapid emergence of trends such as food fortification and cosmeceuticals have also been working to the advantage of panthenol manufacturers and suppliers. With increasing demand for dietary and nutritional supplements, panthenol is likely to witness high adoption in years to come.
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Amid rapid urbanization and strong growth in purchasing power, the cosmetic and personal care industry has been flourishing, especially in developing countries of East Asia, thereby registering significant demand for panthenol. Representing ~30% revenue share in 2018, East Asia continues to present lucrative growth opportunities to the panthenol market players. As panthenol is majorly produced in China and multiple European countries, the consolidation of panthenol in Europe and China is expected to play an important role in helping manufacturers achieve competitive edge.
As per the study, panthenol has been extensively studied for its cosmetic use and innovations continue to gather pace as consumers are shifting their focus towards ‘value-added’ and ‘clean-label’ products. Expansion of product portfolio through strategic collaborations and partnerships with other stakeholders will remain a key developmental strategy of penthanol manufacturers over the course of next few years.
Fact.MR’s research study offers a perspective on the future trajectory of the global panthenol market for the period between 2019 and 2029. The global panthenol market is estimated to record a volume CAGR of 4% during the forecast period.
The global panthenol market shows a high level of consolidation, with leading players, such as BASF SE, Royal DSM, Yifan Pharmaceuticals, and Xinfa Pharmaceutical, collectively accounting for 50-60% market share.
Recognizing a notable increase in the demand for panthenol across a number of end-use industries, key manufacturers are constantly focusing on expanding their manufacturing facilities and production capacities.
These key strategies are further intensified when Xinfa Pharmaceutical Co. Ltd. completed the construction of new panthenol production plant in 2018, with a capacity of 3000 tons/year. Such a strategic move is likely to influence other market players to follow suit and increase their panthenol production capacities, as the demand for cosmetic products rises.
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