Panthenol Market Perceptions Targeting Industrial Expansion Studied during the Forecast Period, 2019-2029
October 14, 2019 by Amanpreet
The panthenol market is estimated to be valued at ~US$ 220 million in 2019. Increasing demand for ‘value-added’ cosmetic ingredients that has been visibly growing over the recent past, is likely to remain the key factor boosting pantheol consumption.
The global panthenol market shows a high level of consolidation, with leading players, such as BASF SE, Royal DSM, Yifan Pharmaceuticals, and Xinfa Pharmaceutical, collectively accounting for 50-60% market share.
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Recognizing a notable increase in the demand for panthenol across a number of end-use industries, key manufacturers are constantly focusing on expanding their manufacturing facilities and production capacities. These key strategies are further intensified when Xinfa Pharmaceutical Co. Ltd. completed the construction of new panthenol production plant in 2018, with a capacity of 3000 tons/year. Such a strategic move is likely to influence other market players to follow suit and increase their panthenol production capacities, as the demand for cosmetic products rises.
Innovations have also been forthcoming with the tectonic shifts in consumer behavior, coupled with the thriving trend of premiumization. Leading panthenol market players, such as BASF SE, are targeted towards new product developments for advanced applications that would be sold at high value across industries, including cosmetics, pharmaceuticals, and food & beverages. It is highly likely that the market challengers will strategically follow the leaders in panthenol landscape, over the years to come.
Strong collaboration of industry stakeholders and leading market players is compelling key panthenol manufacturers to adopt a dual approach while designing their developmental strategies. In addition to product portfolio expansion through multiple innovations, these manufacturers are focusing on partnerships and acquisitions, involving other stakeholders, for enhanced geographical footprint and expanded customer base.
Key Factors Shaping the Panthenol Market
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Key Challenges Facing Panthenol Market Players
Panthenol – Making the Inroads into the Tattoo Industry and Beard Care Products
Significant attributes such as improving the appearance of skin, healing effect for the structure and function of living tissue, and deep penetrating moisturizing properties are paving way for panthenol application in tattoo industry. Many tattoo artists continue to recommend panthenol-based creams as an effective post-tattooing moisturizing cream, which is likely to open new avenues of growth of panthenol market.
Considering the nature of the product, panthenol manufactures are also focusing on capitalizing on rapidly growing male grooming market. Panthenol is now being widely used in various grooming products for men, especially in beard care and shaving goods.
Thorough analysis and comprehensive insights provided in the Fact.MR report on global panthenol market is a result of a two-step research process that involves primary and secondary resources. In the secondary phase, trade journals, company annual and financial reports, white papers, and industry associated publications related to panthenol market have been referred by the analysts in order to gain information and market size data. The information was then validated through interviews and discussions with key manufacturers, suppliers, distributors, along with C-level executives, key opinion leaders, regional officers, and marketing managers of companies in the supply chain of panthenol.
Findings from these research processes were used to determine an accurate and detailed forecast of global panthenol market for the period 2019-2029.
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