At a CAGR of 4.3% over the course of the forecast period, the allantoin market is anticipated to grow from USD 690.0 million in 2022 to USD 1,058.8 million by 2028.
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"The Global Allantoin Market 2018-2028 (USD Million)")
The global allantoin market size was USD 473.7 million in 2017. Its usage for the production of preventive pharmaceutical products due to its moisturizing, and anti-irritant properties is expected to drive the global allantoin market demand over the projected period.
The global allantoin industry is expected to provide an opportunity for cosmetic manufacturers due to the high demand for hair care, skin care, and bath products. Moreover, increased usage in oral care products such as toothpaste and mouthwash has increased its popularity over the past few years.
The global cosmetics industry increased over 4% in 2017 in comparison with statistics in 2016. Increase in distribution channels, the rising popularity of social media for marketing, and increased purchasing power is expected to drive the global cosmetics industry over the projected period. Increasing consumption in lipsticks, lip ointments, hand and body creams, shaving products, sun and after-sun care products, face and baby wipes, baby and foot powders, acne products, antiperspirants and deodorants, and diaper rash creams are expected to drive the global allantoin market concentration for cosmetics applications. Moreover, increased support from the U.S. FDA, REACH, and European Commission for the utilization of allantoin as an ingredient in pharmaceutical and probiotic cosmetic products is expected to be a favorable factor for market expansion over the coming years. Furthermore, superior cell proliferation has increased the demand for the chemical in agrochemicals, which in turn is expected to augment the global allantoin market size over the projected period.
North America accounted for nearly 30% of the global allantoin market share in 2017. North America personal care & cosmetics market was valued at more than USD 90 billion in 2017. Rising inclination towards appearance and high purchasing power has increased cosmetics market sales in this region over the past few years. Increasing adoption of allantoin in cosmetic products such as shampoos, shaving lotions, and creams by virtue of cell proliferation and moisturizing characteristics is expected to drive the allantoin market growth over the projected period.
The Latin America allantoin market size accounted for more than USD 40 million in 2017. Increasing manufacturing of generic drugs by virtue of expiry of a number of key patents over the past few years is expected to offer opportunities for the startup of new facilities in Latin America. Moreover, pharmaceutical manufacturers are expanding their facilities in Latin American countries in order to cater to the untapped market, which in turn, is expected to drive the allantoin market for pharmaceutical applications. For instance, Mundipharma, has already operations in Colombia and Brazil is looking to expand their operations in Argentina, Ecuador, Chile, Venezuela, and Peru.
- ban executed on allantoin \extracted from comfrey plants is expected to hamper the global market over the coming years. Australia, Europe, and the U.S. have strict regulations on the consumption of comfrey extracts for internal use. In addition, low product penetration and limited consumer awareness about allantoin based products in the Middle East & Africa are expected to be a key market challenge.
The global allantoin market is fragmented with the presence of several manufacturers present across the globe. Key manufacturers include Clariant, Ashland, RITA Corporation, Akema Fine Chemicals, Merck KGaA, LUBON INDUSTRY, Huanghua Suntime Chemical Industry Co., Ltd, and Allan Chemical Corporation. Producers operating in this industry are adopting direct distribution channel by offering raw material procurement contract. For instance, manufacturers such as Akema Fine Chemicals, and Luotian Guanghui are involved in raw material production and providing allantoin to pharmaceuticals and cosmetics end users.
Global Allantoin Market
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | USD 1,058.8 million |
| Growth Rate | CAGR of 4.3 % during 2018-2028 |
| Segment Covered | By Industry Vertical, Regions |
| Regions Covered | ngredion Incorporated, Cargill Incorporated, Archer Daniels Midland Company, Tereos S.A., BENEO, Nexira, COSUCRA, Sensus |
| Key Players Profiled | AN Pharma Tech Co Ltd, Ashland Inc., Arkema Fine Chemicals Company, Allan Chemical Corporation, Biosynth Carbosynth Corporation, Clariant AG, EMD Performance Materials Corporation, Huanghua Suntime Chemical Industry Co. Ltd., Laotian Guanghui Chemical Co. Ltd., Lubon Industry Co. Ltd.., Merck KGaA Company, Rita Corporation, Tokyo Chemical Industry Co. Weifang Hongyuan Chemical Co, and Zhanhua Jinyuan Lide Biotechnology Co. Ltd. |
Key segments of the global allantoin market
Application Overview, (Kilo Tons) (USD Million)
- Cosmetics
- Pharmaceuticals
- Oral hygiene
- Others
Regional Overview, (Kilo Tons) (USD Million)
- North America
- U.S.
- Europe
- Germany
- Asia-Pacific
- China
- Middle East & Africa
- Latin America
- Brazil
Frequently Asked Questions (FAQ) :
The market value of allantoin market in 2028 was USD 1,058.8 million
The allantoin market is growing at a CAGR of 4.3% over the forecast period.
The top companies that hold the market share in allantoin market are AN Pharma Tech Co Ltd, Ashland Inc., Arkema Fine Chemicals Company, Allan Chemical Corporation, Biosynth Carbosynth Corporation, Clariant AG, EMD Performance Materials Corporation, Huanghua Suntime Chemical Industry Co. Ltd., Laotian Guanghui Chemical Co. Ltd., Lubon Industry Co. Ltd.., Merck KGaA Company, Rita Corporation, Tokyo Chemical Industry Co. Weifang Hongyuan Chemical Co, and Zhanhua Jinyuan Lide Biotechnology Co. Ltd.