Allantoin Market

Allantoin Market Size (2023-2028):

The Allantoin Market size was valued at US$ 449.5 million in 2022 and is anticipated to reach US$ 796.3 million by the end of 2028, increasing at a CAGR of 6.5% during (2023-2028)

The growing demand for hair care and skin is the primary factor responsible for the allantoin market growth. Allantoin is in the form of a white powder. It has been produced by the oxidation of uric acid and is the maximum excretory product of purine degradation in most vertebrates. Allantoin is a nitrogenous compound with the chemical formula C4H6N4O3. Moreover, it is found in the body of various mammals and extracts of the comfrey plant. In addition, it is not present in the body of primates and humans. These are some of the characteristics that fuel the allantoin market growth during the forecast period.

Moreover, growing awareness regarding personal care combined with rising demand for toothpaste, mouth fresheners, and teeth whiteners are essential factors in increasing the allantoin market growth. As a result, the need for Allantoin has been growing daily. As a result, the allantoin market experiences significant change during 2022 - 2027.

Allantoin Market Drivers:

According to the Cosmetic Toiletry and Fragrance Association, the demand for Allantoin, used for creams and ointments, further boosts the allantoin market growth. Moreover, Allantoin is used for treating skin diseases that include diaper rashes, sunburned skin, and chapped skin & lips. Not only these, but Allantoin is also utilized for speeding up the healing cuts, bruises, and burns on the body. Furthermore, it is widely used in shampoos to treat seborrhea, psoriasis, and dandruff. Therefore, the rising demand for Allantoin for health products drives the allantoin market revenue. In addition, Allantoin is also used in several types of skin care products such as hand & body lotions, face creams, sunscreen, and facial treatment products. Thus, further, increasing the allantoin market growth.

Apart from this, the increasing disposable income of consumers, especially in emerging economies including India, China, and Brazil, and changing lifestyle of the population across the globe are also fueling the allantoin market growth in the upcoming years. In fact, Allantoin possesses some significant properties, including a keratolytic and moisturizing effect on the human skin. It majorly helps in removing dead skin cells and also increases the water level in the skin. Personal care products include toothpaste, mouthwash, and many others use Allantoin, thus further uplifting the growth of the allantoin market. Allantoin is indulged in the amniotic acid, fetal urine, and allantoic fluid. It is primarily utilized in medicines to promote tissue growth and used in cosmetics personal and skincare products. Allantoin is remarked as safe, compatible with cosmetic raw materials, and non-toxic. These are some of the characteristics that fuel the allantoin market growth during the forecast period. In addition, growing awareness regarding personal care combined with rising demand for toothpaste, mouth fresheners, and teeth whiteners are the primary factors in increasing the allantoin market growth. In the next six years, the need for Allantoin is yet to increase due to many end-users increasing demand for Allantoin. 

Allantoin Market Restraints:

The usage of Allantoin in many personal care products may cause damage to the liver, which acts as the primary factor that slows down the allantoin market growth. On the other hand, strict rules and regulations by the government on the ban of comfrey extracts as the product further hinders the allantoin market growth. The market is majorly affected by the prohibition of comfrey extracts as the product since it is being extracted from the comfrey plants. In addition, many emerging economies including Europe, Australia, and the U.S., have strict regulations on these comfrey products, which may witness a downfall in the overall growth of the allantoin market in the next six years. Basically, Allantoin is proven as non-toxic and can be safe for the skin, but still, people with sensitive skin may experience stinging, irritation, redness, and burning.

Moreover, Allantoin is a gentle anti-ager in skincare and is suitable for most skin types with different ranges of skin. Still, some of the population across the globe may be allergic to the ingredient which is utilized directly from the crushed comfrey leaves, which further hampers the allantoin market growth. Allantoin is called 5-ureidohydantoin and is a crystalline oxidation product used for healing wounds and infections in the body. It is broadly used in mouth fresheners, toothpaste, and many other skincare products. However, although it is commonly used in many skincare products and pharmaceutical products, people who are allergic to the comfrey leaves, which is used as a product in skincare, may cause irritation, redness, and burning sensation, that further delays the allantoin market growth during the foreseen period.

Recent Developments in the Allantoin Market:

Ashland Inc. introduced Allantoin USP, a white colorless crystalline powder well known as a protectant in the skin and oral mucosa. It is majorly used in mouthwash, denture adhesives, and toothpaste. It further promotes a healthy environment and protects mucous membranes.

Arkema Fine Chemicals launched its new product, Allantoin, a well-recognized skin protectant agent with keratolytic, soothing, moisturizing, and healing properties. It also enhances the performance of personal care formulations at low levels and gives a smooth and healthy appearance to intact skin.

ALLANTOIN MARKET REPORT COVERAGE:

Market Segmentation:

Allantoin Market By Source:

• Natural

• Synthetic

Depending on the source, the natural segment plays the dominant role in holding the most prominent allantoin market share. Allantoin is a compound found naturally in various organisms such as animals, plants, and microbes. This natural Allantoin increases skin smoothness, treats wound healing, and also promotes cell proliferation and longevity. Owing to these factors, many end-users were concentrating on natural Allantoin, which further drives the allantoin market growth.

Allantoin Market By Application:

• Healing medicine

• Moisturization

• Others 

Based on application, the Moisturization application acts as a crucial factor in increasing the growth of the allantoin market. Most of the population across the globe has changed their lifestyle and were more concentrated in skincare. Thus, led the Moisturization application to hold the largest allantoin market share. Moreover, healing medicine tends to grow with the highest CAGR during the forecast period.

Allantoin Market By Industrial Vertical:

• Cosmetics

• Pharmaceuticals

• Personal care

• Others

The pharmaceutical sector tends to be dominant in the allantoin market due to the increasing demand for Allantoin for wound healing due to its cell proliferation properties in various lotions and creams. In addition, it is also used in the treatment of various skin diseases, including psoriasis and eczema. Therefore, it further led the pharmaceutical sector to hold the most extensive allantoin market share and sustain its dominance in the near future.

Allantoin Market Regional Analysis: 

The Allantoin Market Report includes the segmentation of Regions:

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle East & Africa 

The Asia Pacific region dominates the allantoin market owing to the rapid increase of the cosmetic sector. In addition, the increasing demand for consumer disposable income and changing lifestyle of the consumers, mainly in India and China, led the APAC region to hold the largest market revenue.

North America is anticipated to grow with the highest CAGR during 2022 - 2027 due to the increasing number of pharmaceutical manufacturers in the U.S.

Furthermore, Germany is a crucial producer and consumer for cosmetic and pharma products, which fuels the allantoin market growth in the Europe region.

Middle East & Africa is anticipated to have significant growth in the allantoin market owing to the increasing demand for Allantoin in Brazil.

Impact of COVID-19 on the Allantoin Market:

The COVID-19 pandemic has affected the allantoin market. The market's slowdown is due to the reduced disposable income of consumers across the world due to the crisis. This further hampers the demand for personal skincare products and cosmetics and negatively affected the allantoin market. In addition, the decrease in the workforce and transport due to the imposing of lockdown by the government in several regions is also the primary factor that resulted in the significant drop in the allantoin market.

Allantoin Market Key Players:

The companies covered in the report include:

1. Ashland Inc. 

2. Arkema Fine Chemicals

3. Allan Chemical Corp

4. Huanghua Suntime

5. EMD Performance Materials