Global Piroctone Olamine Market to witness a surge in its valuation with a CAGR of 5.3% by 2027
Published | September 2020
According to BlueWeave Consulting, Global Piroctone Olamine
Market is estimated to be 93.9 Million USD by 2026 from USD 65.4 Million in 2019, at a CAGR of 5.3% from 2020
to 2026. Piroctone Olamine is a compound used in shampoos to relieve itching or
scaling and other scalp related problems. This also helps in treating fungal or
bacterial infections. The demand for the piroctone olamine is increasing due to
its benefits and easy availability in the market. This is mainly used for
psoriasis treatment, anti-dandruff treatment, anti-hair fall treatment, anti-dryness
of scalp, and other treatments. Increasing hair problems, including hair fall,
dandruff, itchy scalp, and dryness due to climate change, high pollution, and
changing lifestyle, are key factors that support the market's growth. Besides,
increasing awareness among individuals about this compound's beneficial
properties resulted in a rising demand for a medicated shampoo. However, the
high cost of medicated shampoo is a key factor expected to hamper the target
market to a certain extent.
“E-commerce segment dominates the Sales Channel Segment”
Based on Sales Channel, the E-commerce segment is predictable to register substantial growth in the global piroctone olamine market due to high consumer liking for online shopping. Also, increasing e-commerce platform across the globe is probable to support this segment's growth. 58% of consumers said they expect to do more online shopping after the epidemic than they did before it, and 80% of business buyers charted assume to do more business purchasing online in the post-pandemic era, likened with the pre-pandemic period.
Increasing young population
Growth chances for the market lie in the growing young population and their occurrence to control dandruff using shampoos. The rise in the consciousness overusing this chemical compound in shampoos formula, which has enormous benefits, is also making probabilities for the market's development. The growing acceptance of medicated shampoo among consumers and rising consumer spending on personal care products subsequent in increasing demand for a medicated shampoo.
Growing hair related problems
Due to consumers' exposure to extreme sunlight, unsanitary environment, and other damaging chemicals in day-to-day life, there have been rising worries over many hair related issues caused due to it. Consequently, over the past couple of years, the world has seen an increase in demand for different hair care products, which also triggered shampoos' demand for piroctone olamine.
This is mainly used for psoriasis treatment, anti-dandruff treatment, anti-hair fall treatment, anti-dryness of scalp, and other treatments. Increasing hair problems, including hair fall, dandruff, itchy scalp, and dryness due to climate change, high pollution, and changing lifestyle, are key factors that support the market's growth.
Lack of suitable knowledge over the practice of dissimilar chemical compounds is gradually deteriorating the demand of the market. Variations in the accessibility of raw materials are leveling up the final products' prices, which remains a challenging reason for the market developers. Fast changes in the economic policies may hinder the development rate of the piroctone olamine market. Request for organic compounds is degrading the demand of the market slightly.
“Asia Pacific dominates the Global Piroctone Olamine Market
Asia pacific arises as to the firmest growing market. India, China, Japan, and Southeast Asia are the noticeable market for herbal and medicinal hair care products in the Asian region due to its old-style usage. China and Japan together account for the primary market in Asia due to high use. Beauty worry among Chinese and Japanese people is relatively high, which supports the medicated shampoo market growth. Growing spending on personal care products in Asian countries encourages vital players to launch more products addressing hair problems.
Global Piroctone Olamine Market: Competitive Landscape
Some of the leading players operating in the Global Piroctone Olamine Market are 3C Pharmchem, Chemspec Chemicals, Clariant, HubeiDixinChemical, Kolon Life Science, Kumar Organic Products, Somu Group, Spec Chem Group, Yantai Aurora Chemical, Aakash Chemicals and Dye-Stuffs, XiaoGan ShenYuan Chem Pharm, Shanghai Aladdin Bio-Chem Technology, Wuhan HengHeDa, and other prominent players.
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The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Global Piroctone Olamine Market size & forecast. The report promises to provide state-of-the-art technology of the Global Piroctone Olamine Market and industry insights, which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive analysis of the market.
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