Panthenol Market expected to drive demand for over the forecast period 2019-2027
Panthenol is an essential nutrient, which helps in the synthesis and degradation of the fatty acids in our body. Panthenol is also known as provitamin B5 and is usually consumed in a combination with other vitamin B complex formulations. Panthenol naturally occurs in variety of foods and is also added to some cereals and beverages, owing to its nutritional value and healing effect on body tissues.
Market Outlook
The global panthenol market has witnessed a surge in market growth in the recent past, owing to its growing applications in the nutraceutical and cosmetics industry. Among regions, Europe and Asia Pacific are expected to account for a substantial market share, in terms of revenue over the forecast period. For instance, according to the India Brand Equity Foundation (IBEF), the beauty, cosmetic, and grooming market in India, is expected to reach US$ 20 billion by 2025 and thereby expected to drive demand for panthenol over the forecast period.
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Market Dynamics
The global panthenol market is expected to gain further traction over the forecast period, owing to the rise in usage of panthenol as viable ingredient in food & beverage industry, for production of dietary supplements and nutritious food products. For instance, according to the Institute for Plant and Food Research, New Zealand, the global food & beverages industry was pegged at US$ 5.8 trillion in 2016 and is estimated to reach US$ 20 trillion by 2030 with 5% annual growth. This is expected to propel the market growth over the forecast period.
Major Keyplayers: BASF SE, RITA Corporation, Jeen International, Xinfu Pharmaceutical, Koninklijke DSM N.V., Kunshan Tongde Chemical Inc., TRI-K Industries, and Anhui Huaheng Biotechnology Co., Ltd.
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