Allantoin Market Size

Allantoin Market Size

Allantoin Market size was over USD 400 million in 2015 and shall witness gains over 6% CAGR over the estimated timeframe./p>

The global allantoin market size is primarily driven by increasing product applications in the cosmetic industry. The product is extensively used as an ingredient in the cosmetic products including lotions, creams, shaving lotions and shampoos, due to its cell proliferating and moisturizing characteristics. The overall cosmetic industry generated revenue close to USD 200 billion in 2015 and is projected to expand with more than 3% CAGR over the projected timeframe. Upgrading consumer lifestyles and spending dynamics will positively influence the cosmetic industry growth. This trend will ultimately boost the global allantoin market size over the estimated timeframe. Furthermore, gaining popularity of value added cosmetic products including anti-ageing creams & lotions will further complement industry growth./p>

The global pharmaceutical sector was generated revenue more than USD 1 trillion in 2015 and is forecast to observe gains at over 4% CAGR over the projected timeframe. Increasing medicine and drug developments across the globe for rising diseases including H1N1 and Ebola will positively impact on the pharmaceutical industry, which will subsequently boost the global allantoin market size by 2023. The product finds widespread application base in the pharmaceutical industry as a basic ingredient for creams used in skin treatment for diseases including keratosis, psoriasis, xerosis and eczema. The product is also used in oral wound healing formulations due to its high cell proliferation characteristics./p>

Comfrey extracts carries substantial product constituent. Ban imposed on these extracts in the U.S., Australia and Europe may obstruct the industry growth by 2023, are may negatively impact on the global allantoin market price trends over the estimated period. For instance, in 2001, the U.S. FDA had imposed ban om comfrey extract products for its internal use, particularly due to its pyrrolizidine alkaloid content. Furthermore, confined consumer awareness in regions including Latin America and the Middle East & Africa, towards the product benefits may further hinder business growth. Nevertheless, rapidly growing product applications for cosmetic formulations owing to its superior characteristics will certainly create new growth avenues for the industry players.