DL-Panthenol Market size was valued at USD 80.7 Million in 2023 and is set to cross USD 132.4 Million by the end of 2036, expanding at more than 4.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of dl-panthenol is estimated at USD 81.12 Million. The growth of the market can be attributed to the increasing usage of personal care products and cosmetics among people owing to the rising grooming standards. The use of panthenol in cosmetics is rising as it helps in moisturizing, hydrate, and provides a natural shine to the hair and skin. Panthenol is the best alternative to silicone which is expected to increase its application in the personal care products such as bath soaps, lotions, shampoos, conditioners, creams, and hair sprays. As per the estimations, the average spending amount of the United States on cosmetics, and personal care products every year was more than USD 180 for each consumer unit as of 2021.
The rising number of people using dietary supplements owing to gaining weight or other health complications is estimated to boost the market growth. According to the reports in 2022, more than 75% of the population in America was estimated to use at least one supplement, and the usage rate increases with age. The high demand for nutraceuticals across the world for various purposes such as hair growth, anti-aging, obesity, wound healing, diabetes, and cancer is also anticipated to hike the development of the market. Nutraceuticals are supplements that have pharmaceutical activity and help prevent life-threatening diseases when there is a chance of occurrence and increase the individual's life expectancy. As per the estimations, the nutraceuticals industry in India is projected to reach more than USD 15 billion by the end of 2025.
Growth Drivers
Escalating Use of Dietary Supplements across the World – Dietary supplements are used to balance the nutritional requirements of a body that are not provided by food. The most widely used dietary supplements are multivitamins, minerals, vitamins, and omega-3 fatty acids. Increasing diabetes, obesity, cholesterol, and rising risk of heart disorders across the world are estimated to drive market growth during the forecast period. As of 2021 more than 55% of adults in America aged 20 and above used dietary supplements with women using them at a higher rate than men.
Growing Demand for ‘Value-Added’ Cosmetic Ingredients – The global cosmetic ingredients value between the years 2021 to 2025 was estimated to rise by about USD 4 billion.
Increasing Demand for Food & Beverages Industry Globally – According to the estimations, more than 10% of people 50 years and above are estimated to indicate the signs of food and beverage addiction as of 2023.
Rising Usage of Personal Care Products by People across the World – As per the estimations, the average woman in the United States utilizes more than 10 beauty personal care products per day as of 2020.
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
4.9% |
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Base Year Market Size (2023) |
USD 80.7 Million |
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Forecast Year Market Size (2036) |
USD 132.4 Million |
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Regional Scope |
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Product (Food Grade, Medical Grade, Industrial Grade)
The global DL-panthenol market is segmented and analyzed for demand and supply by product into food, medical, and industrial grades. Out of the three types, the medical grade is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing use of panthenol in pharmaceutical preparations for various skin and hair treatments in the coming years. Panthenol is used to treat damaged skin, and hair when used with diluted water. The increasing use of panthenol in the treatment of skin disorders such as sunburns, mild burns, and minor skin injuries is also estimated to hike the growth of the market. Panthenol reduces inflammation, itching, and enhances skin hydration, elasticity, and improves wound healing time of skin. Further, the increasing consumption of lotions, ointments, nasal sprays, and eye drops is driving the growth of the segment as per the market analysis. As per the reports more than 220 million Americans are estimated to use moisturizers or lotions, or creams as of 2020. The escalating number of allergies and eye infections with increasing air pollution across the world is expected to fuel the market growth during the forecast period.
Application (Food, Pharmaceutical, Cosmetics)
The global DL-panthenol market is also segmented and analyzed for demand and supply by application into food, pharmaceutical, and cosmetics. Amongst these three segments, the cosmetics segment is expected to garner a significant share. The increasing use of cosmetics and personal skin care products among people to look elegant and rise the glow of the skin is estimated to boost the market growth in the coming years. The use of panthenol in cosmetics as a moisturizer, softening, anti-irritant, and soothing agent is also anticipated to drive market growth in the coming years. Moreover, the increasing demand for hair growth and growing preference for commercial shampoos and hair conditioners among people is anticipated to have a positive impact on the market growth during the forecast period. The panthenol used in shampoos and hair conditioners helps by lubricating the hair shaft and providing a shiny appearance to the hair. Also, the increasing use of aftercare tattoo moisturizer cream by many tattoo artists is also anticipated to rise the market growth in the coming years. According to the estimations, the value of aftercare products across the world was worth more than USD 11 million in the year 2021 and is estimated to reach over USD 16 million by 2028's end.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Application |
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APAC Market Statistics
The Asia Pacific DL-panthenol market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be attributed majorly to the increasing purchasing power, along with the growing customer base of premium products in the region. In addition, an upsurge in the production in the food & beverages industry is also expected to fuel the growth of the market in the region in the coming years. As per the data provided by the World Bank, in Australia, the percentage of value added in manufacturing food, beverages, and tobacco was 24.947% in 2019, up from 24.772% in 2018. The rising use of panthenol in boosting the immune system in the medical sector is also expected to drive market growth in the coming years. Also, the potential use of panthenol in the inflammatory conditions of skin and rheumatoid arthritis treatment is anticipated to boost the market growth during the forecast period.
North American Market Forecast
Further, the market in the North American region is anticipated to have a noteworthy market share in the coming years owing to the increasing production of synthetic panthenol and the presence of large reserves of raw materials in the region. The rising utilization of panthenol in the pharmaceutical sector is also anticipated to fuel market growth.
Europe Market Forecast
Moreover, the market in Europe is also projected to grab a significant share during the forecast period owing to the rapid expansion of the cosmetics and personal care industry, and the presence of major market participants in the region. The increasing e-commerce sale, growing sales penetration of online retails, and rising healthcare awareness among people are anticipated to boost the market growth in the Europe region.
Koninklijke DSM N.V. planned to partner with Skin Cancer Foundation and DSM is sponsored by Destination Healthy Skin to provide full body skin cancer screenings free of cost from May to September 2023.
The Food and Drug Administration decreased the daily nutritional value of pantothenic acid on the new labels of Nutrition Fats and Supplements Facts from 10 milligrams to 5 milligrams.
Author Credits: Rajrani Baghel
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