Increasing Aesthetic Appeal and Growing Pharmaceutical Sector to Augment Growth of Panthenol Market

 

Panthenol

Panthenol (also called pantothenol) is the alcohol analog of pantothenic acid and is used as a moisturizer and to improve wound healing in pharmaceutical and cosmetic products.

Market Dynamics

Increasing aesthetic appeal is expected to propel growth of the panthenol market. For instance, according to a 2018 survey by GlobalData, around three quarters of South Korean men undertake a beauty or grooming treatment at least once a week. Moreover, increasing expenditure on personal care products is also expected to aid in growth of the market. For instance, according to the U.S. Bureau of Labor Statistics, average annual expenditure on personal care products in the U.S. increased from US$ 707 in 2016 to US$ 768 in 2018.

Growing pharmaceutical sector is expected to offer lucrative growth opportunities for players in the panthenol market. For instance, according to The European Federation of Pharmaceutical Industries and Associations’ Key Data 2019, the pharmaceutical sector in Europe was valued at US$ 139, 287 million in 2000, which increased to US$ 284, 028 million (est.) in 2018. Moreover, launch of cosmetics with panthenol is also expected to aid in growth of the market. For instance, in January 2021, CosMedical Technologies, a skin care solutions provider, launched Vita-B Enzyme Polish, an exfoliating cream that contains B vitamins niacinamide and panthenol. Similarly, in April 2020, Hero Cosmetics, a healthcare company, launched Dubbed the Rescue Balm, the new product that includes ingredients such as replenishing peptides, panthenol and beta-glucan.

The panthenol market is witnessing increasing adoption of quaternized panthenol, a mild, non-irritating ingredient that provides enhanced substantivity and long lasting conditioning to hair. The market is also witnessing demand for vegetable-based alternative to animal keratin. For instance, in December 2020, MONAT, a luxury vegan beauty brand, launched NEW Studio One Flexible Hold Gel that contains hydrating panthenol pro-vitamin B5 and FISION KeraVeg18.

Among regions, North America is expected to witness significant growth in the panthenol market, owing to increasing launch of cosmetics with panthenol. For instance, in March 2020, Derma e, a skin care brand of Topix Pharmaceuticals, launched Thickening Shampoo & Conditioner, which includes panthenol and argan oil.

Competitive Analysis

Major players operating in the global panthenol market include, BASF SE, RITA Corporation, Jeen International, Xinfu Pharmaceutical, Koninklijke DSM N.V., Kunshan Tongde Chemical Inc., TRI-K Industries, and Anhui Huaheng Biotechnology Co., Ltd.

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