IMARC Group, a leading market research company, has recently released a report titled "Allantoin Market Report by Source (Natural, Synthetic), Industry Vertical (Pharmaceutical, Personal Care, Cosmetics, and Others), and Region 2024-2032". The study provides a detailed analysis of the industry, including the allantoin market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global allantoin market size reached US$ 704.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,105.6 Million by 2032, exhibiting a growth rate (CAGR) of 5.13% during 2024-2032.

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Factors Affecting the Growth of the Allantoin Industry:

• Significant growth in the Cosmetics Sector

The cosmetics sector significantly influences the global allantoin market, as allantoin is highly valued for its moisturizing properties and its ability to exfoliate and improve skin texture. It's incorporated in a plethora of skincare products, such as creams, lotions, and serums, promoting skin softness and resilience while offering protection against irritants. The ingredient is favored for its soothing effects, particularly beneficial in products targeting sensitive or irritated skin. As consumers increasingly seek skincare products that combine therapeutic and cosmetic benefits, allantoin's popularity continues to rise, underpinning its steady demand in the market.

• Pharmaceutical Applications

In the pharmaceutical industry, allantoin is acclaimed for its healing, moisturizing, and soothing properties. It is extensively utilized in formulations intended to treat skin disorders, promote wound healing, and encourage cell regeneration. Its ability to expedite the process of shedding dead skin cells and promoting the growth of healthy tissue makes it invaluable in products designed for scar reduction, treatment of psoriasis, and various other dermatological conditions. The broad therapeutic potential of allantoin, backed by its safety profile, ensures its ongoing inclusion in a diverse range of medical and over-the-counter healthcare products, reinforcing its market presence.

• Agrochemical Industry Demand

Allantoin’s role in the agrochemical industry stems from its biological activities that benefit plant health and growth. It is used in agricultural formulations to enhance the stress tolerance of crops, improve seed germination, and stimulate plant growth, acting as a biostimulant. This compound, being a natural constituent in plants like comfrey, is perceived as an eco-friendly alternative to conventional chemicals, aligning with the global shift towards sustainable agriculture. Its application in promoting plant vitality contributes to higher yield and better-quality crops, which, in turn, supports the increasing demand for allantoin in the agrochemical sector.

Allantoin Market Report Segmentation:

By Source:

• Natural
• Synthetic

Natural represented the largest segment due to increasing consumer preference for organic and natural ingredients, which are perceived as safer and more sustainable compared to synthetic alternatives.

By Industry Vertical:

• Pharmaceutical
• Personal Care
• Cosmetics
• Others

The cosmetics industry vertical dominated the largest segment as allantoin is extensively utilized in skincare and beauty products for its moisturizing, healing, and soothing properties, meeting the high demand in the rapidly growing global beauty market.

 Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Asia Pacific was the largest market regionally, driven by its vast consumer base, rising disposable incomes, and growing awareness about personal care and skin health, coupled with the expanding presence of cosmetic and pharmaceutical manufacturers in the region.

Global Allantoin Market Trends:

The global allantoin market is witnessing significant growth, driven by the expansive cosmetics sector consistently fuels demand, with allantoin being prized for its moisturizing and keratolytic effects, making it a staple in skincare and beauty products. Its ability to promote cell proliferation and wound healing has also made it a sought-after ingredient in pharmaceuticals, further bolstering the market.  Moreover, the agrochemical industry contributes to the demand, utilizing allantoin's beneficial properties to enhance plant growth and vitality. Technological advancements in biotechnology have facilitated increased allantoin production through fermentation processes, ensuring a steady supply to meet growing demands. The market is also propelled by rising consumer awareness regarding personal care and hygiene, alongside a growing inclination towards products with natural ingredients, positioning allantoin as a preferred component due to its naturally occurring status in several plants and animals.

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Top Companies Operated in Allantoin Industry:

• Akema S.r.l.
• Allan Chemical Corporation
• Ashland Global Holdings Inc.
• Clariant AG
• Merck KGaA
• RITA Corporation
• Tokyo Chemical Industry Co. Ltd.

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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