According to a recent report published by Fact.MR, global sales of panthenol reached ~9000 tons in 2018, and are estimated to exhibit a Y-o-Y growth of 3.4% in 2019. In addition to the rapid expansion of beauty industry and increasing consumption by F&B industry operators, panthenol is likely to witness heightening demand owing to the growing consumer preference for medicinal products with a ‘cosmetic’ quotient. Nutritional profile and cosmetic value of panthenol will remain instrumental in boosting sales of panthenol in years to come. Fact.MR’s research study offers a perspective on the future trajectory of the global panthenol market for the period between 2019 and 2029. The global panthenol market is estimated to record a volume CAGR of 4% during the forecast period.
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The ‘healthier for you’ trend has been influencing consumer sentiments for a while, which is in turn accounting for the sales of various personal care and food & beverage products. In line with greater preference for products with high-quality ingredients, manufacturers of cosmetic and personal care products are focusing on R&D of new and improved range of products. This, according to the report, is expected to form a strong base for the sales of panthenol in the forthcoming years.
Fact.MR’s analysis suggests that the improving standard of living and the subsequent rise in per capita spending of consumers on personal care products have been underpinning sales of a wide range of additives that offer an added value to typical grooming products. Panthenol is anticipated to remain among the highly sought-after one in this category. Moreover, higher consumption of panthenol has been envisaged by manufacturers of cosmetic and male grooming products.
As humectant properties of panthenol are proven, which continue to push its incorporation into a range of ointments for sunburns, as a moisturizer for skincare, and a multi-functional active ingredient for adding value to dietary supplements, the market is likely to witness significant growth in the future.
D-Panthenol Remains Favored over DL-Panthenol
D-panthenol continues to gain increasing demand as compared to DL-panthenol. The report opines that the superior physical activity of the former in terms of skincare continues to promote its adoption over latter. Accounting for ~85% revenue shares in the panthenol market revenues recorded in 2018, D-panthenol has been witnessing increasing applicability in a wide range of products, particularly in the skincare and hair care range. Moreover, recognized as safe for use as a nutrient in animal feed and medicines, D-panthenol is further penetrating as a functional ingredient in animal feed, medication, and pet foods.
According to the study, while the use of panthenol remains prominent in personal care products, manufacturers are diversifying its potential in other application areas as well, such as pharmaceuticals, dietary supplements, and baby care products. Rapid emergence of trends such as food fortification and cosmeceuticals have also been working to the advantage of panthenol manufacturers and suppliers. With increasing demand for dietary and nutritional supplements, panthenol is likely to witness high adoption in years to come.
Amid rapid urbanization and strong growth in purchasing power, the cosmetic and personal care industry has been flourishing, especially in developing countries of East Asia, thereby registering significant demand for panthenol. Representing ~30% revenue share in 2018, East Asia continues to present lucrative growth opportunities to the panthenol market players. As panthenol is majorly produced in China and multiple European countries, the consolidation of panthenol in Europe and China is expected to play an important role in helping manufacturers achieve competitive edge.
As per the study, panthenol has been extensively studied for its cosmetic use and innovations continue to gather pace as consumers are shifting their focus towards ‘value-added’ and ‘clean-label’ products. Expansion of product portfolio through strategic collaborations and partnerships with other stakeholders will remain a key developmental strategy of penthanol manufacturers over the course of next few years.
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