The global allantoin market is expected to reach USD 641.7 million by 2022, according to a new study by Grand View Research, Inc.
Global allantoin sales are expected to witness growth on account of rising demand from various application industries including cosmetics, pharmaceutical and oral hygiene. Allantoin possesses keratolytic, anti inflammatory and emollient properties which acts as an anti-irritant. Furthermore, superior moisturizing property has resulted in its increasing consumption in cosmetic products as it improves skin texture by keeping it hydrated.
Growing demand for allantoin in personal care products including toothpaste, mouth wash, shampoos and conditioners is anticipated to augment allantoin market growth over the next seven years. Furthermore, capacity expansions by key raw material suppliers owing to increasing demand for glyoxylic acid in allantoin production coupled with forward integration of suppliers in the value chain is likely to propel demand.
Cosmetic application was the largest segment accounting for 33.7% of global allantoin market revenue in 2014. Rising popularity of allantoin, owing to its moisturizing property and keratolytic (skin-softening) effect, is expected to increase demand for manufacturing numerous cosmetics, particularly sunscreens and moisturizers.