PUBLISHER: Grand View Research | PRODUCT CODE: 1552911
PUBLISHER: Grand View Research | PRODUCT CODE: 1552911
The global lanolin market size is anticipated to reach USD 412.43 million by 2030 and is projected to grow at a CAGR of 4.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increase in the use of natural and organic personal care products worldwide, owing to the rise in consumer demand for sustainable and eco-friendly ingredients, is anticipated to have a positive impact on the product consumption.
Lanolin is an anti-inflammatory ointment used to treat or prevent dry, rough, scaly, itchy skin and minor skin irritations, such as diaper rash and skin burns from radiation therapy. One of the remarkable properties of the product is its ability to act as a carrier for pharmaceutically active ingredients that require deep permeation into the layers of the skin. Therefore, it is highly valued in pharmaceuticals for enhancing the skin's healing process. In the realm of wound care, it proves to be invaluable. It aids the wound healing process and helps in dermal repair when incorporated into burns dressings. Promoting a conducive environment for tissue regeneration accelerates the recovery of damaged skin, leading to improved outcomes.
Lanolin-based products can cause skin irritation and allergies in some individuals, particularly those with sensitive skin. The adverse effects of the product, such as skin burning, stinging, redness, and unusual skin changes, can limit its usage and affect market growth. In March 2023, lanolin was named the contact allergen of the year 2023 by the American Contact Dermatitis Society due to its wide use in industries for its emollient properties. Therefore, the market faces restraints due to the increasing demand for plant-based substitutes, concerns about allergies and skin sensitivity, and ethical considerations related to animal cruelty. These factors impact market growth and pose challenges for the lanolin industry.