The panthenol market is estimated to be valued at ~US$ 220 million in 2019. Increasing demand for ‘value-added’ cosmetic ingredients that has been visibly growing over the recent past, is likely to remain the key factor boosting pantheol consumption.
Prominently driven by the consistent expansion of the cosmetic and personal care industry, the growth of panthenol market is projected to register the CAGR of ~5% during the period 2019-2029.
East Asia accounted for 30% revenue share in 2018, and continues to maintain lead in the panthenol market.
High growth opportunities are expected to emerge in East Asia as well, in the view of improved purchasing power and expanding customer base of premium products.
Emerging trends in the cosmetic industry, such as ‘medicinally’ active and ‘cosmetically’ functional products, are likely to prepare a strong ground for panthenol market growth.
Competitive LandscapeThe global panthenol market shows a high level of consolidation, with leading players, such as BASF SE, Royal DSM, Yifan Pharmaceuticals, and Xinfa Pharmaceutical, collectively accounting for 50-60% market share.Get Report Sample Copy @ https://www.factmr.com/connectus/sample?flag=S&rep_id=753Recognizing a notable increase in the demand for panthenol across a number of end-use industries, key manufacturers are constantly focusing on expanding their manufacturing facilities and production capacities. These key strategies are further intensified when Xinfa Pharmaceutical Co. Ltd. completed the construction of new panthenol production plant in 2018, with a capacity of 3000 tons/year. Such a strategic move is likely to influence other market players to follow suit and increase their panthenol production capacities, as the demand for cosmetic products rises.Innovations have also been forthcoming with the tectonic shifts in consumer behavior, coupled with the thriving trend of premiumization. Leading panthenol market players, such as BASF SE, are targeted towards new product developments for advanced applications that would be sold at high value across industries, including cosmetics, pharmaceuticals, and food & beverages. It is highly likely that the market challengers will strategically follow the leaders in panthenol landscape, over the years to come.Strong collaboration of industry stakeholders and leading market players is compelling key panthenol manufacturers to adopt a dual approach while designing their developmental strategies. In addition to product portfolio expansion through multiple innovations, these manufacturers are focusing on partnerships and acquisitions, involving other stakeholders, for enhanced geographical footprint and expanded customer base.Key Factors Shaping the Panthenol Market
Use of panthenol has been significantly confined to personal care industry as an active ingredient for sophisticated cosmetic products, particularly for skincare and hair care. With growing proclivity of modern consumers for personal grooming, the demand for cosmetics and personal care products has been continuously on an upward swing, thereby fueling demand for panthenol.
Resonating with the flourishing clean-label trend, the FDA–approved panthenol will continue to witness strong demand from end-use industries, including cosmetic & personal care, and food & beverages.
Panthenol continues to garner traction as a viable ingredient in a number of food & beverage products for its high nutritional value. Growing demand for dietary supplements and fortified food products is weighing on the same scale as the rising adoption of panthenol in F&B industry.
Looking at the increasing awareness about the health benefits of panthenol-based products and improved spending on premium food and personal care products, it is highly likely that the panthenol market will continue to see a progressive outlook in developing countries.
The growth of E-commerce has been instrumental in creating new growth opportunities in the panthenol market, and the accelerated penetration of online sales channels is significantly contributing to the growth of panthenol market.
Sensing the possible applicability of panthenol in cosmeceuticals, manufacturers are attempting the untapped potential of panthenol, by focusing on R&D activities, which is expected to be a significant booster to the panthenol demand in the global market.
Outlook Complete Research report with TOC @ https://www.factmr.com/report/753/panthenol-marketKey Challenges Facing Panthenol Market Players
Although the application scope of panthenol continues to ascend at a significant rate, threats of substitutes prevail in the market. Cosmetic manufacturers continue to adopt alternatives of panthenol such as propylene glycol and sorbitol for their relatively low cost which help reduce the overall cost of end products.
Several stringent regulations have been imposed in countries like China regarding the production of panthenol, against the backdrop of difficulty in waste water handling, driving the price of panthenol to record high in recent times. This has added to the reluctance of end-use industries to incorporate panthenol in their products.
Additional InsightsPanthenol – Making the Inroads into the Tattoo Industry and Beard Care ProductsSignificant attributes such as improving the appearance of skin, healing effect for the structure and function of living tissue, and deep penetrating moisturizing properties are paving way for panthenol application in tattoo industry. Many tattoo artists continue to recommend panthenol-based creams as an effective post-tattooing moisturizing cream, which is likely to open new avenues of growth of panthenol market.Considering the nature of the product, panthenol manufactures are also focusing on capitalizing on rapidly growing male grooming market. Panthenol is now being widely used in various grooming products for men, especially in beard care and shaving goods.Research MethodologyThorough analysis and comprehensive insights provided in the Fact.MR report on global panthenol market is a result of a two-step research process that involves primary and secondary resources. In the secondary phase, trade journals, company annual and financial reports, white papers, and industry associated publications related to panthenol market have been referred by the analysts in order to gain information and market size data. The information was then validated through interviews and discussions with key manufacturers, suppliers, distributors, along with C-level executives, key opinion leaders, regional officers, and marketing managers of companies in the supply chain of panthenol.Findings from these research processes were used to determine an accurate and detailed forecast of global panthenol market for the period 2019-2029.Inquire Now or Share Questions if any @ https://www.factmr.com/connectus/sample?flag=AE&rep_id=753About Fact.MRFact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.Contact UsFactMRSuite 988427 Upper Pembroke Street,Dublin 2, IrelandTel: +353-1-4434-232Tel: +353-1-6111-593Email: firstname.lastname@example.org