Panthenol Market Share, Sales Outlook, Trends with Revenue Forecast -2022-2032
As indicated by data from Future Market Bits of knowledge, the panthenol market is assessed to grow at a CAGR of 4.2% throughout the expected time span. As per figures, the market would be worth USD 306.9 Mn in 2032 rather than USD 221.8 Mn in 2022.
This Panthenol Analysis market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Panthenol Analysis market.
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Panthenol Market Outlook
Panthenol is an alcohol analog of pantothenic acid and therefore is considered as a provitamin of B5. In living organisms panthenol is immediately oxidized to pantothenic acid. At room temperature it is present as a white powder or transparent liquid. Panthenol is widely used in cosmetics and personal care products owing to its property to act as a moisturizer. The National Institute of Health and Food and Drug Administration considers panthenol as safe for human consumption and therefore its application in the food industry and supplements is increasing. Panthenol is a precursor for vitamin B5 and can be consumed to fight the deficiency of vitamin B5. Globally a large number of population is deficient of sufficient vitamins and nutrients to support the functioning of their body.
Deficiency of vitamin B5 is found among the malnourished population which is necessary for the development and functioning of the body. The pantothenic acid deficiency results in symptoms like depression, insomnia, restlessness, fatigue, deterioration of the skin, paresthesia in extremities, neurological symptoms, gastrointestinal complaints, and weakening of immune function. Thus the adequate consumption of panthenol for the pantothenic acid conversion is crucial for healthy living. Panthenol in cosmetics is used as a soothing, softening, and anti-irritant agent. The physical application of panthenol also helps your skin build up a barrier against irritation and water loss.
Numerous Benefits Associated With Panthenol Is Boosting the Greater Market Prospects
The panthenol market is anticipated to have a significant growth with higher profits over the forecast period. The oxidation of panthenol to pantothenic acid, majorly contributes to normal mental performance, energy-yielding metabolism, reduction of fatigue and tiredness, synthesis of neurotransmitters and normal synthesis and absorption of vitamin D, steroid hormones. Panthenol market is also driven by the fact that it is used in the fortification of several food products which are used in the production of supplements for B5.
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The rapidly increasing processed food industry, nutrition products, and animal feed products are creating a strong demand for panthenol in the market. The National Centre of Biotechnology Information list panthenol as skin protectant owing to its anti-inflammatory properties. Panthenol in personal care and skincare products can help improve elasticity, skin hydration, and smooth appearance. Panthenol also soothes inflammation, red skin, cuts, bug bites, sores and others. Panthenol is also useful for manufacturing hair care products as it has the ability to improve hair strength, shine and softness. It also protects hair from environmental damage.
Panthenol Market: Opportunities
The growing traction of panthenol as a feasible ingredient in multiple food and beverage products for its high nutritional value. The rising demand for fortified food and dietary supplements is bolstering the adoption of panthenol in food and beverages industry. Panthenol a precursor of vitamin B5 is expected to have a lucrative growth in developed regions like Western Europe and North America. Due to growing health and wellness conscious population and increase in deficiency of nutrients among the population is boosting the panthenol market. The increasing concern regarding animal welfare and nutrition is further fuelling the growth of panthenol.
The manufacturers of cosmetics, skin and personal care products are expected to earn a big number of profits by manufacturing innovative products using panthenol. The growing E-commerce sector has been instrumental in providing new opportunities for growth of panthenol market. The increasing penetration of online sales channel is exceptionally contributing to the growth of the panthenol market.
Panthenol Market: Key Participants
The key players in the global panthenol market are:
- BASF SE
- Koninklijke DSM N.V.
- Kunshan Tongde Chemical Inc.
- TRI-K Industries
- Hangzhou Xinfu Science and Technology
- Anhui Huaheng Biotechnology Co., Ltd.