Market Challenges And Opportunities
Market Dynamics
- The usage of clean-label products, i.e. food products which contains organic, natural and simple ingredients and no artificial ingredients and additives, is a flourishing trend among consumers across the globe. This has augmented the demand for panthenol in different end-use industries such as pharmaceutical, food & beverages, cosmetics, consumer goods, and others. Panthenol is widely used as an active ingredient for formulation of personal care products, especially in skin care cosmetics.
- The global panthenol market is expected to gain further traction over the forecast period, owing to the rise in usage of panthenol as viable ingredient in food & beverage industry, for production of dietary supplements and nutritious food products. For instance, according to the Institute for Plant and Food Research, New Zealand, the global food & beverages industry was pegged at US$ 5.8 trillion in 2016 and is estimated to reach US$ 20 trillion by 2030 with 5% annual growth. This is expected to propel the market growth over the forecast period.
Market Taxonomy
On the basis of type, the global panthenol market is segmented into:
On the basis of application, the global panthenol market is segmented into:
- Personal Care
- Hair Care
- Skin Care
- Nail Care
- Oral Care
- Eye Care
- Baby Care
- Food & Beverages
- Animal Feed
- Pharmaceutical & Dietary Supplement
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