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