DL-Panthenol Market - Regional Analysis
APAC Market Insights
Asia Pacific industry is set to dominate majority revenue share of 38% by 2035. 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 Insights
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 Insights
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.
