Allantoin Market Analysis

Allantoin Market Analysis

Cosmetics held the largest share of the overall allantoin market size in 2015. Booming cosmetics industry across the globe on account of increasing consumer spending power in order to enhance their personal wellbeing will consequently boost the industry growth over the projected period. Furthermore, the industry expansion will by substantially influenced by increasing number of ageing population along with rising consumer awareness regarding health & hygiene will boost industry growth over the estimated period.
 

The global allantoin market size for pharmaceutical is likely to observe highest gains at 6% CAGR over the projected timeframe. Increasing medical investment across the globe due to consumer proactive nature for self-care and maintaining personal health & hygiene, particularly due to increased consumer spending will boost the industry growth by 2023. The pharmaceutical manufacturers are upscaling their production capacity in order to meet the increasing medicine and drug demand across the globe. This will substantially increase the allantoin market demand over the estimated period.
 

The global allantoin market size for oral hygiene is forecast to expand with more than 6% CAGR and mark revenue more than USD 170 million over the forecast timeframe. Growing oral care business across the globe will positively impact on the overall industry growth. The product is used in protecting the mouth’s mucous membrane, which helps in offering desirable oral care.
 

North America, mainly led by the U.S. allantoin market size generated revenue more than USD 120 million in 2015. The region has presence of major pharmaceutical manufacturers which will positively influence the industry growth. Furthermore, increasing product demand in the U.S. for eye drops, nutraceutical products and skin care creams will boost industry growth. Europe, led by Germany is forecast to expand with more than 5.5% CAGR over the projected period on account to substantial cosmetic industry growth in the region. Germany is the one of the prominent cosmetic producer and consumer across the globe. This trend will boost the overall allantoin market size in Europe by 2023.
 

Asia Pacific, led by China and India, held the largest share of the global allantoin market size in 2015 and is forecast to witness highest gains more than 6% CAGR by 2023. Positive growth indicators of the pharmaceutical and cosmetic industry in China and India, particularly due to enhancing consumer dynamics will significantly boost the regional growth in the coming years. Furthermore, the regional pharmaceutical sector will witness highest growth with 7% over the estimated period due to drifting pharmaceutical manufacturers focus towards establishing their production facilities in China and India. Latin America and Middle East & Africa shall observe promising gains by 2023 on account increasing consumer spending for personal care products.