DL-Panthenol Market Size

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.