Global Allantoin Market Overview
Allantoin Market Size was estimated at 3.11 (USD Billion) in 2022. The Allantoin Industry is expected to grow from 3.39(USD Billion) in 2023 to 7.4 (USD Billion) by 2032. The Allantoin Market CAGR (growth rate) is expected to be around 9.05% during the forecast period (2024 - 2032).
Key Allantoin Market Trends Highlighted
Key market drivers for allantoin include its versatility, biodegradability, and compatibility with a wide range of personal care, cosmetic, and pharmaceutical applications. Its ability to enhance skin health and appearance is driving demand in the skincare market, particularly for anti-aging and skin repair products. Additionally, its antioxidant and anti-inflammatory properties make it suitable for hair care and oral care products.
Opportunities for allantoin lie in exploring its use in advanced wound care, tissue engineering, and regenerative medicine. As a growth factor and cell proliferator, it holds promise in treating chronic wounds, burns, and other skin injuries. Moreover, its biocompatibility and biodegradability make it an ideal material for developing biodegradable scaffolds and tissue implants.
Recent trends in the allantoin market indicate a growing emphasis on natural and sustainable ingredients. Consumers are increasingly seeking plant-based and eco-friendly products, which is driving demand for allantoin derived from natural sources. Furthermore, there is a trend towards multifunctional ingredients that provide multiple benefits, and allantoin's versatility and compatibility make it a popular choice for meeting this demand.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Allantoin Market Drivers
Rising Demand for Natural and Organic Personal Care Products
The allantoin market is driven by the escalating preference of consumers toward natural and organic personal care products. Allantoin is a natural humectant and skin protectant extracted from the roots of the comfrey plant. It is recognized for its skin soothing and moisturizing properties and, thereby, is widely used in a plethora of personal care products such as skincare, hair care, and cosmetics. The amplified demand for natural and organic personal care products can be accredited to the developing knowledge about the adverse impacts of synthetic chemicals on human skin and the environment.
Consumers are increasingly utilizing personal care products that are composed of natural ingredients and are free from harsh chemicals and parabens. This trend is likely to continue over the next few years, positively impacting the allantoin market at the level.
Growth of the Pharmaceutical Industry
The growth of the pharmaceutical industry is another key driver of the allantoin market. Allantoin is used as an active ingredient in a variety of pharmaceutical products, such as wound healing ointments, eye drops, and oral medications. It is known for its ability to promote cell proliferation and reduce inflammation, making it an effective treatment for a range of conditions, such as burns, cuts, and abrasions. The growing prevalence of chronic diseases, such as diabetes and cancer, is leading to an increased demand for wound care and other pharmaceutical products.
This is expected to drive the demand for allantoin in the market.
Technological Advancements in Allantoin Production
There have been certain technological advancements regarding the production of allantoin, and they have also been beneficial. To illustrate, earlier, allantoin was extracted from the comfrey plant. Nonetheless, along with the rapid development of biotechnology methods, new ways of allantoin production appeared, such as fermentation and other methods of delivering desired glyoxal derivatives. These new methods are more efficient and cheaper in production than the utilization and extraction of allantoin from comfrey.
On these grounds, with the broader application of these new methods, allantoin produced will become far cheaper and more readily available for manufacturers in the future.
Allantoin Market Segment Insights
Allantoin Market Application Insights
The Allantoin Market can be divided based on the division of application into Personal Care Products, Cosmetics, Pharmaceuticals, Food and Beverages, and Industrial. The Personal Care Products segment occupied the most significant share of the market in 2023, and its growth is anticipated to continue being remarkable throughout the forecast period. The reason for this is the rising consumer interest in using allantoin in their skincare and haircare products, primarily because this ingredient has excellent moisturizing, soothing, and anti-inflammatory effects.
The Cosmetics segment is anticipated to have the most impressive CAGR during the forecast period because consumers are increasingly avoiding using chemical and synthetic products and have been focusing on organic or natural cosmetic products. Furthermore, the growth of this segment will be facilitated by the fact that allantoin can be utilized to help enhance the texture of the skin, reduce irritation, and protect from different forms of damage. The Pharmaceuticals segment is expected to occupy a considerable chunk of Allantoin Market revenue by 2032 because its characteristics as a wound-healing and anti-inflammatory agent make it a vital ingredient in diverse pharmaceutical manufacturers, including ointments, creams, and tablets.
The Food and Beverages segment is estimated to demonstrate slow but steady progress during the forecast period due to the increasing interest in using allantoin as a food supplement to help improve the flavor of food or the texture to make it last longer. Finally, the Industrial segment is expected to bring a moderate share of the market’s growth because allantoin can be used in multiple industrial applications, such as textiles, paper, plastics, and others. Overall, the Allantoin Market will experience considerable growth in the next years due to the rising consumer need for it across multiple industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Allantoin Market Source Insights
The Allantoin Market is segmented by Source, and each segment offers distinct market dynamics. The Comfrey Root segment held the largest market share in 2023, accounting for nearly 38.9%. This dominance is attributed to the widespread availability and affordability of Comfrey Root, making it a cost-effective option for Allantoin production. However, Synthetic Allantoin is projected to exhibit the highest CAGR of 11.2% during the forecast period, driven by increasing demand from the pharmaceutical and cosmetic industries. Synthetic Allantoin offers consistent quality and purity, making it a preferred choice for manufacturers seeking high-grade Allantoin.
The Urea segment is estimated to witness steady growth, primarily due to its use in fertilizers and skincare products.
Allantoin Market Purity Insights
The purity segment plays a crucial role in determining the quality and applications of allantoin. Higher purity grades command a premium due to their suitability in various industries. In 2023, the market share of 99% purity allantoin stood at 45%, with a projected market value of USD 1.2 billion by 2032, growing at a CAGR of 9.4%. The demand for 98% purity allantoin is also significant, accounting for 30% of the market share in 2023 and expected to reach a valuation of USD 800 million by 2032. Meanwhile, 95% purity allantoin holds a market share of 25% and is anticipated to witness a market size of USD 650 million by 2032.
These high-purity grades find applications in pharmaceutical formulations, cosmetics, and food supplements, driving their market growth.
Allantoin Market Form Insights
The Allantoin Market segmentation by Form includes Powder, Solution, Capsules, and Tablets. The Powder segment held the largest market share in 2023, accounting for over 55% of the market. The Powder segment is projected to continue to dominate the market in the coming years, owing to its wide range of applications in various industries, including cosmetics, pharmaceuticals, and food and beverages. The Capsules and Tablets segments are also expected to witness significant growth over the forecast period, driven by the growing demand for convenient and easy-to-consumer products.
The Solution segment is expected to register a steady growth rate during the forecast period, primarily due to its use in topical applications.
Allantoin Market Grade Insights
The Allantoin Market is segmented based on grade into pharmaceutical grade, cosmetic grade, food grade, and industrial grade. The pharmaceutical grade segment is estimated to hold the largest market share in 2023, accounting for around 40% of the market revenue. The growth of this segment can be attributed to the increasing demand for allantoin in the pharmaceutical industry for the treatment of various skin conditions, such as eczema, psoriasis, and burns. The cosmetic grade segment is expected to witness significant growth over the forecast period, owing to the rising demand for allantoin in skincare and haircare products.
The food grade segment is projected to grow steadily, driven by the increasing use of allantoin as a food additive and flavor enhancer. The industrial grade segment is expected to hold a relatively smaller share of the market, but it is anticipated to grow at a steady pace due to the increasing demand for allantoin in the manufacturing of plastics, textiles, and other industrial products.
Allantoin Market Regional Insights
The Allantoin Market segmentation by region comprises North America, Europe, Asia-Pacific, South America, and Middle East Africa. North America is expected to account for the largest share of the market in 2023, owing to the presence of a large number of personal care and cosmetic manufacturers in the region. Europe is expected to be the second-largest market for allantoin due to the increasing demand for natural and organic personal care products in the region. The Asia-Pacific region is expected to witness the fastest growth in the allantoin market, owing to the rising demand for personal care and cosmetic products in the region.
South America and Middle East Africa are expected to account for a relatively smaller share of the allantoin market but are expected to witness steady growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Allantoin Market Key Players and Competitive Insights
Major players in the Allantoin Market industry are constantly working on new product development and technological advancements to gain a competitive edge in the market. They are also focusing on expanding their distribution networks and increasing their production capacities to meet the growing demand for allantoin. Leading Allantoin Market players are also involved in strategic partnerships, joint ventures, and acquisitions to strengthen their market position and expand their reach. The Allantoin Market industry is highly competitive, with a number of established players and new entrants vying for market share. Allantoin Market development is being driven by factors such as rising demand for natural and organic personal care products, increasing awareness of the benefits of allantoin, and growing disposable income in emerging markets.
One of the leading players in the Allantoin Market is Evonik Industries. The company offers a wide range of allantoin grades for various applications, including personal care, pharmaceuticals, and food and beverage. Evonik has a strong presence, with manufacturing facilities in Europe, North America, and Asia. The company is also investing heavily in research and development to develop new applications for allantoin. Another major player in the Allantoin Market is Merck KGaA. The company offers a range of allantoin products under the brand name Allantomed. Merck has a strong presence in the pharmaceutical industry and is also expanding its presence in the personal care market. The company is focusing on developing new applications for allantoin, such as in wound healing and skin care products.
A key competitor of Evonik Industries and Merck KGaA in the Allantoin Market is BASF SE. The company offers a range of allantoin products under the brand name Sympatol. BASF has a strong presence in the personal care and pharmaceutical industries, and it's a company that is focusing on developing new applications for allantoin, such as anti-aging and skin whitening products.
Key Companies in the Allantoin Market Include
- Wuhan Biochemicals
- Symrise
- Ashland Inc.
- Allantoin Chemical
- BASF
- Jiangsu Yinfan Chemical
- Chemoxy International Chemical
- Lonza Group
- Merck KGaA
- Evonik
- Ashland
- Chengdu Zidao Chemical
- Xi'an Focera Biochemical
- Shaanxi Hailuo Chemical
- Shandong Lawsun
Allantoin Market Industry Developments
The Allantoin market is expected to reach a value of USD 7.4 billion by 2032, growing at a CAGR of 9.05% from 2024 to 2032. The market growth is attributed to the increasing demand for allantoin in the personal care and cosmetics industry, owing to its moisturizing and anti-inflammatory properties. The Asia-Pacific region is expected to hold a significant share of the market, with China being a major contributor. Key recent developments in the market include the launch of new allantoin-based products by leading manufacturers and the growing adoption of allantoin in skincare and haircare products.
Allantoin Market Segmentation Insights
Allantoin Market Application Outlook
- Personal Care Products
- Cosmetics
- Pharmaceuticals
- Food and Beverages
- Industrial
Allantoin Market Source Outlook
- Comfrey Root
- Urea
- Synthetic
Allantoin Market Purity Outlook
Allantoin Market Form Outlook
- Powder
- Solution
- Capsules
- Tablets
Allantoin Market Grade Outlook
- Pharmaceutical Grade
- Cosmetic Grade
- Food Grade
- Industrial Grade
Allantoin Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2022
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3.11(USD Billion)
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Market Size 2023
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3.39(USD Billion)
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Market Size 2032
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7.4(USD Billion)
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Compound Annual Growth Rate (CAGR)
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9.05% (2024 - 2032)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2023
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Market Forecast Period
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2024 - 2032
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Historical Data
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2019 - 2023
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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Wuhan Biochemicals, Symrise, Ashland Inc., Allantoin Chemical, BASF, Jiangsu Yinfan Chemical, Chemoxy International Chemical, Lonza Group, Merck KGaA, Evonik, Ashland, Chengdu Zidao Chemical, Xi'an Focera Biochemical, Shaanxi Hailuo Chemical, Shandong Lawsun
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Segments Covered
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Application, Source, Purity, Form, Grade, Regional
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Key Market Opportunities
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Rising demand in cosmetics, pharmaceuticals, and personal care Growing awareness of skincare benefits Technological advancements in production Increasing disposable income in emerging economies Expanding application in animal feed and agriculture
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Key Market Dynamics
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Rising demand for cosmetics increasing skincare awareness, growing popularity of natural ingredients expanding pharmaceutical applications and technological advancements
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Frequently Asked Questions (FAQ) :
The Allantoin market is anticipated to reach an overall valuation of 3.39 USD Billion in 2023.
The Allantoin market is projected to reach an overall valuation of 7.4 USD Billion by the year 2032.
The Allantoin market is expected to experience a Compound Annual Growth Rate (CAGR) of 9.05% from 2024 to 2032.
The Asia-Pacific region is projected to dominate the Allantoin market due to the increasing demand for personal care and cosmetic products in the region.
Allantoin finds applications in various industries, including pharmaceuticals, cosmetics, and personal care products. In pharmaceuticals, it is used as a skin protectant and wound healer. In cosmetics, it is used as a skin conditioning agent and moisturizer. In personal care products, it is used as an anti-irritant and anti-inflammatory agent.
Key competitors in the Allantoin market include BASF, Evonik, Merck KGaA, and Ashland.
Major growth drivers for the Allantoin market include rising demand for personal care and cosmetic products, increasing awareness of the benefits of Allantoin, and growing pharmaceutical applications.
Challenges faced by the Allantoin market include fluctuating raw material prices, intense competition, and stringent regulatory requirements.
The COVID-19 pandemic had a significant impact on the Allantoin market, leading to disruptions in supply chains and a decline in demand from end-use industries such as cosmetics and personal care.
Future trends in the Allantoin market include increasing demand for natural and organic products, growing adoption in emerging markets, and the development of new applications in pharmaceuticals and personal care.
