Global Panthenol Market Size, Segmentation, Trends and Growth Analysis Forecast by 2031

Panthenol Market Overview and Analysis:

The panthenol market size was valued at USD 267 Million in 2023 and is projected to register at a CAGR of 7.5% during the period 2024-2030.

Panthenol, also known as provitamin B5, is a water-soluble alcohol that is a derivative of pantothenic acid, a member of the B-vitamin family. Widely used in skincare and hair care products, panthenol is renowned for its moisturizing and soothing properties. When applied topically, it readily converts to pantothenic acid, which is an essential component of coenzyme A involved in numerous metabolic processes. Panthenol acts as a humectant, attracting and retaining moisture in the skin and hair, promoting hydration and suppleness. Its ability to enhance skin barrier function and reduce inflammation makes it a common ingredient in formulations aimed at improving skin health. Additionally, panthenol is valued for its role in strengthening hair strands, imparting a smoother texture, and adding shine. Overall, panthenol serves as a versatile ingredient in cosmetic and personal care products, contributing to the overall well-being of skin and hair.

The increasing awareness of skin and hair health is propelling the demand for panthenol, a versatile ingredient recognized for its moisturizing and nourishing properties. As consumers become more conscious of the benefits of skincare and hair care, panthenol's reputation as a reliable component in formulations has surged. The beauty and personal care industry's relentless pursuit of innovation further contributes to panthenol's popularity, as its multifunctional nature aligns with the demand for effective ingredients. Endorsements from dermatologists, who recommend panthenol for its soothing capabilities, enhance the ingredient's credibility and foster consumer trust. With a growing preference for natural and safe ingredients, panthenol stands out as a well-tolerated and gentle choice for skin care and hair care routines. Its role in anti-ageing formulations, backed by scientific research and clinical trials, positions panthenol as a valuable asset in the quest for youthful skin.

Market Segmentation: Panthenol Market Size, Share, Competitive Landscape and Trend Analysis Report by Source (Animal, Plant), by Type (DexPanthenol, D-pantothenyl Alcohol) and by Application (Animal Feed, Pharmaceuticals, Cosmetics, Food Beverage) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market size and forecasts are provided in terms of value (in USD million) for the above segments.

Panthenol Market Trends:

The surging trend in men's grooming and skincare is driving a notable uptick in the integration of panthenol into products specifically designed for male consumers. As men progressively become more attuned to the nuances of their grooming routines, the inherent benefits of panthenol in both skincare and hair care are garnering increased acknowledgement within this market segment. This shift reflects a growing awareness among men of the positive impact that quality ingredients, such as panthenol, can have on enhancing the health and appearance of their skin and hair. The heightened incorporation of panthenol in male-focused formulations underscores its adaptability to meet the evolving demands of the modern man who seeks effective and tailored solutions in his grooming regimen. As a result, panthenol is emerging as a key component in addressing the specific needs of male consumers within the expanding landscape of men's personal care products.

Market Drivers:

Increasing use of dietary supplements across the world

The global surge in the use of dietary supplements reflects a growing trend towards proactive health and wellness practices. Individuals worldwide are increasingly turning to dietary supplements to complement their regular diets, aiming to fill nutritional gaps and support overall well-being. Panthenol, also known as provitamin B5, is gaining recognition not only in skincare and hair care but also in the realm of dietary supplements. As a water-soluble form of vitamin B5, panthenol plays a crucial role in cellular energy production and metabolism, contributing to the body's overall vitality. Its incorporation into dietary supplements underscores its multifaceted benefits, as it is believed to aid in energy metabolism, enhance skin health, and support the nervous system. This dual application of panthenol highlights its versatility and the increasing acknowledgment of its potential to promote not only external but also internal health. As consumers become more health-conscious and seek comprehensive wellness solutions, the use of panthenol in dietary supplements aligns with the broader trend of embracing holistic approaches to health maintenance and improvement.

Increasing demand for food and beverage industries

The escalating demand for food and beverages globally is steering the spotlight toward ingredients that enhance both the nutritional value and sensory appeal of products. Panthenol, a derivative of vitamin B5, is gaining prominence in this context due to its diverse applications and beneficial properties. In the food and beverages industry, panthenol is recognized for its water-soluble nature and its potential to contribute to the nutritional profile of various products. As a precursor to coenzyme A, panthenol plays a role in energy metabolism, making it a valuable addition to formulations aiming to boost nutritional content. Beyond its nutritional aspects, panthenol is also appreciated for its moisturizing properties, which can be advantageous in certain food products, such as those in the bakery sector. Its water-attracting capabilities make it a potential ingredient for enhancing texture and moisture retention. As consumer preferences lean towards healthier and functional food options, the incorporation of panthenol into food and beverages aligns with the industry's ongoing pursuit of innovative and health-conscious formulations. This trend not only speaks to the adaptability of panthenol but also underscores its potential to cater to the evolving demands of a dynamic and health-focused market within the food and beverages sector.

Market Restraints:

Low cost of alternatives available in place of DL-Panthenol

The panthenol market may face challenges stemming from the low-cost alternatives available, potentially impeding its growth trajectory. As businesses and consumers alike seek cost-effective solutions, substitutes for DL-Panthenol may present a competitive edge due to their affordability. These alternatives, while offering budget-friendly options, might not replicate all the multifunctional benefits that panthenol provides. The low-cost substitutes could appeal to price-conscious segments of the market, influencing purchasing decisions and affecting panthenol's market share. However, the long-established track record of panthenol in skincare, hair care, and other applications, along with its proven efficacy, may act as a counterbalance. Manufacturers in the panthenol market may need to strategize effectively to emphasize the unique advantages and value proposition that panthenol brings, despite the cost-sensitive landscape. Continuous innovation, product differentiation, and targeted marketing efforts may be essential in navigating the competitive dynamics posed by lower-cost alternatives and sustaining the growth of the panthenol market in the face of pricing pressures.

COVID-19 Impact on Panthenol Market:

The panthenol market underwent significant transformations due to the impact of the COVID-19 pandemic. The global supply chain faced disruptions, affecting the availability of raw materials crucial for panthenol production. Lockdowns, social distancing measures, and workforce challenges led to reduced manufacturing capacities and temporary closures, causing fluctuations in market dynamics. Consumer priorities shifted during the pandemic, with a focus on essential products and hygiene. While certain segments of the personal care market, including premium skincare products containing panthenol, experienced setbacks, the increased awareness of self-care and wellness drove demand for skincare products. The growth of e-commerce emerged as a notable trend, providing a new channel for consumers to access panthenol-containing formulations. Despite economic uncertainties leading to cautious spending, the focus on health and wellness remained strong, potentially benefiting panthenol-containing products. As economies recover, there is optimism for a rebound in the personal care market, with innovations in formulations and marketing strategies expected to cater to evolving consumer preferences in the post-pandemic landscape. Overall, the panthenol market demonstrated resilience in the face of challenges, with opportunities for recovery and future growth on the horizon.

Segmental Analysis:

Plant Segment is Expected to Witness Significant Growth Over the Forecast Period

Panthenol, also known as pro-vitamin B5, is a water-soluble alcohol derived from vitamin B5, or pantothenic acid. Its presence can be found in various plant sources, making it a valuable component in skincare and hair care products. Whole grains like rice, wheat, and barley, along with legumes such as lentils and chickpeas, are rich in pantothenic acid, which serves as a precursor to panthenol. Additionally, fruits like tomatoes, vegetables like sweet potatoes and avocados, and seeds/nuts like sunflower seeds contribute to the availability of panthenol. Although not a fruit, mushrooms and their extracts also contain this beneficial compound. Panthenol can be extracted for cosmetic use through processes such as chemical conversion or fermentation of pantothenic acid, which is abundant in these plant sources. Widely appreciated for its moisturizing and soothing properties, panthenol is frequently incorporated into cosmetic formulations like lotions, creams, shampoos, and conditioners, enhancing the overall health and appearance of the skin and hair by promoting hydration and improving softness and elasticity. Thus, these factors are expected to drive the segment growth over the forecast period.

DexPanthenol Segment is Expected to Witness Significant Growth Over the Forecast Period

Dexpanthenol, often referred to as panthenol or provitamin B5, is a synthetic derivative of pantothenic acid, which is a form of vitamin B5. Dexpanthenol is widely utilized in the cosmetic and pharmaceutical industries for its skin-conditioning and moisturizing properties. This compound is a more stable and bioavailable form of panthenol, making it a popular choice in various skincare and hair care products. When applied topically, Dexpanthenol is readily absorbed by the skin and is converted into pantothenic acid, an essential component in the synthesis of coenzyme A. Coenzyme A plays a crucial role in cellular metabolism and the repair of damaged skin tissues, contributing to the overall health and resilience of the skin. One of the key benefits of Dexpanthenol is its ability to attract and retain moisture, promoting hydration and preventing water loss. This makes it an excellent ingredient in moisturizers, lotions, and creams, helping to soothe and soften the skin. Moreover, Dexpanthenol is known for its calming and anti-inflammatory properties, making it suitable for sensitive or irritated skin. Thus, Dexpanthenol is often included in shampoos and conditioners for its ability to improve hair texture, add shine, and enhance moisture retention. It can also provide additional support to the hair's structure, reducing breakage and split ends. Dexpanthenol is generally well-tolerated and considered safe for topical use. Its versatility and compatibility with various formulations make it a staple ingredient in a wide range of cosmetic products designed to nourish and care for the skin and hair. Whether used in creams, lotions, serums, or hair care products, Dexpanthenol continues to be a popular choice for its proven benefits in promoting skin and hair health. Thus, owing to such factors the segment is expected to witness significant growth over the forecast period.

Cosmetics Segment is Expected to Witness Significant Growth Over the Forecast Period

Panthenol, recognized as provitamin B5, holds a prominent position in the cosmetic industry, contributing extensively to skin care and hair care formulations. Valued for its versatile properties, panthenol is a favored choice for cosmetic products. In skincare, it stands out for its remarkable moisturizing capabilities, attracting and retaining moisture to prevent dryness and enhance skin elasticity. Its anti-inflammatory attributes make it suitable for sensitive skin, fostering cell regeneration and contributing to a smoother complexion. Panthenol's positive impact on hair health is notable, as it penetrates the hair shaft to improve moisture retention, resulting in shinier and more manageable hair. Often featured in shampoos, conditioners, and leave-in treatments, it addresses concerns like frizz and damage. Beyond its cosmetic benefits, panthenol supports cellular metabolism and tissue repair, fortifying the natural resilience of both skin and hair. Its compatibility with various formulations cements panthenol's status as a key ingredient in beauty products, from anti-aging creams to revitalizing hair treatments, showcasing its proven ability to promote overall skin and hair health.

Asia Pacific Region is Expected to Witness Significant Growth Over the Forecast Period

The Asia Pacific region plays a pivotal role in the cosmetics and personal care industries, notably influencing the production and consumption of panthenol, also known as provitamin B5. Panthenol is a highly sought-after ingredient in this region, featuring prominently in skincare and hair care formulations. Renowned for its moisturizing and skin-conditioning properties, panthenol aligns with the preferences of consumers in countries such as South Korea, Japan, and China, where skincare is a paramount concern. In the diverse landscape of hair care traditions across the Asia Pacific, panthenol is widely used in products like shampoos and conditioners to improve hair texture and overall health. The dynamic beauty and personal care market in the region, characterized by a demand for innovative and functional products, contributes to the consistent presence of panthenol in cosmetic formulations. Local beauty brands often incorporate panthenol into their products, catering to the specific skincare and hair care needs of the diverse population. The influence of K-beauty has played a notable role, particularly in popularizing skincare trends that align with panthenol's reputation for promoting skin hydration and health. As consumer awareness of panthenol's benefits grows, its widespread acceptance in the Asia Pacific cosmetic market continues to solidify, making it a key ingredient in the formulation of beauty products throughout the region.

Panthenol Market Competitive Landscape:

The panthenol market is characterized by a moderate level of competition, with several key players contributing to its dynamism. Various manufacturers and suppliers participate in the production and distribution of panthenol, catering to diverse industries such as skincare, hair care, pharmaceuticals, and food. While the market is not overly saturated, there is a discernible level of rivalry among established companies seeking to capture and retain market share. Product differentiation, formulation innovations, and marketing strategies play crucial roles in determining the competitive edge of companies within this market. The moderately competitive nature of the panthenol market allows for a balanced landscape where both well-established firms and emerging players have opportunities to thrive by addressing evolving consumer needs and industry trends. Continuous advancements in product offerings, quality standards, and sustainability practices are key factors that influence the competitive positioning of companies operating in the panthenol market.

Some of the key market players working in this segment are:

• Kunshan Tongde Chemical Inc.
• Hangzhou Xinfu Science and Technology
• TRI-K Industries
• BASF SE
• Anhui Huaheng Biotechnology Co., Ltd.
• Koninklijke DSM N.V.

Recent Development:

1) In December 2021, an article published by NCBI reported that the effects of D-panthenol on human hair follicle cells, including dermal papilla cells (hDPCs) and outer root sheath cells (hORSCs), were investigated. D-panthenol enhanced the cell viability, increasing the cellular proliferation marker Ki67 in cultured hDPCs. The markers for apoptosis (Caspase3/9) and cell senescence (p21/p16), reported to be expressed in aged or resting phase follicles, were significantly reduced by D-panthenol. Thus, such studies and researches suggest that the hair growth stimulating activity of D-panthenol was exerted by increasing the cell viability, suppressing the apoptotic markers, and elongating the anagen phase in hair follicles, thereby such studies are expected to drive the growth of the studied market. 

2) In September 2021, Cetaphil, recognized as the leading doctor-recommended brand for sensitive skincare, underscores its dedication to clinically-proven solutions with the introduction of updated formulations that elevate the science behind its classic products. The brand's key offerings have undergone enhancements, incorporating a dermatologist-endorsed blend of Niacinamide (Vitamin B3), Panthenol (Vitamin B5), and moisturizing Glycerin to bolster the overall resilience of the skin. Through extensive consumer trials and clinical assessments, the brand has validated an improved consumer experience and heightened product efficacy, ensuring that their best-selling formulas now offer even more significant benefits. This innovation is poised to make a substantial impact on the panthenol market by reinforcing the credibility and effectiveness of the ingredient in skincare, thereby contributing to its continued growth and prominence in the industry.

Frequently Asked Questions (FAQ) :

Q1. What was the Panthenol Market size in 2023?

Q2. What is the Growth Rate of the Panthenol Market?

Q3. What are the factors driving the Panthenol Market?

Q4. Which Region is expected to hold the highest Market share?