Press release
Why is Allantoin witnessing Significant Demand in the Global Market During 2015 - 2021?
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Allantoin is present in botanical extracts of the comfrey plant and in the urine of various mammals. It is safe, non-toxic and is compatible with cosmetic raw materials. It meets all the requirement of the Cosmetic Toiletry and Fragrance Association (CTFA) and Japanese Standards of Cosmetic Ingredients (JSCI). Allantoin based ointments and creams are used to treat skin ailments such as diaper rashes, chapped skin & lips, sunburned skin. Allantoin is used to speed up the healing of cuts, burns and bruises on the body. In addition, it is used in shampoos to treat various hair related ailments such as scalp psoriasis, seboorhea, dandruff and eczema involving the scalp. Furthermore, the powder is used to treat skin burns in radiation treatment for cancer. It is also present in toothpastes, mouthwashes and other oral hygiene products.
Growing demand for skin care and hair care is expected to drive the hair and skin care products market within the forecast period as there is an increasing awareness regarding healthy skin and hair among consumers. This in turn is expected to drive the demand for allantoin in the global market. Skincare and hair care are the largest segments present within the personal care industry. Skincare products include face creams, hand and body lotions, sun care products and facial treatment products, while the hair care treatment market includes shampoos and conditioners among others. Changing lifestyle and increase in disposable income of consumers, particularly in emerging economies such as China, India and Brazil, is expected to drive the personal care industry, thereby augmenting the demand for allantoin The consumption of allantoin based skin and hair products has become high on account of factors such as hectic lifestyle and pollution damage on human health and skin. Mens’ grooming has become a mainstream industry in the past few decades and this industry is anticipated to grow further driving the allantoin market. Furthermore, rising awareness regarding oral care coupled with the increasing demand for mouth fresheners, teeth whiteners and mouthwashes is expected to further fuel the demand for allantoin over the next few years. However, allantoin when used orally causes liver damage. This may act as a restraint to the allantoin market.
Regions such as Asia Pacific, Africa and Latin America are predicted to emerge as the fastest growing markets for allantoin over the forecast period. The continual and rapid growth in the industries such as skin care, hair care, cosmetics and oral care in these regions is expected to drive the demand for allantoin in the production of various applications products. Moreover, developed markets such as the U.S. and European economies are steadily recovering from the economic downturn and are anticipated to generate significant demand for allantoin in the coming years.
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Key players in the allantoin market include Allan Chemical Corp, Akema Fine Chemicals, Ashland Inc and EMD Chemicals Performance Materials among others.
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