Widespread use in the pharmaceutical and household & personal care industries for the manufacturing of various medicines, skincare creams and lotions, and cleaning agents significantly promotes market growth.
Market Size – USD 469.71 Million in 2019, Market Growth - CAGR of 7.7%, Market Trends – Increasing online distribution channels
The Global Glycolic Acid Market is expected to be valued at USD 853.41 Million in 2027 from USD 469.71 Million in 2019, registering a CAGR of 7.7% through the forecast period. Glycolic acid is an odorless and colorless chemical compound belonging to a group of active compounds, called AHAs (alpha hydroxyl acids), and it is generally found in vegetables and fruits like pineapple, sugarcane, and unripe grapes. Glycolic acid possesses the smallest molecules in the group; this enables quick and easy penetration of human skin. It is therefore very effective in skin treatment and is widely used in cosmetic formulations. It acts as a brilliant exfoliant for the skin as it helps remove the dead skin cells, giving the skin a smoother feel. Due to the effectiveness of glycolic acid in skin treatment, it finds extensive usage in cosmetic formulations.
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The global glycolic acid market growth is primarily boosted by the expanding cosmetics & personal care industries, widespread use of glycolic acid in a wide range of personal care and dermatological products, and the rising applications of the substance in various cosmeceutical preparations, such as skin creams, anti-acne creams, face cleansers, and blackhead removal lotions. Glycolic acid is in high demand in the household care sector, owing to its significant use as a cleaning agent. It is widely used in shampoo formulations as it effectively helps treat dandruff problems and conditions the hair and scalp. Glycolic acid plays a vital role in the manufacture of poly glycolic acid (PGA), which is, therefore, used in absorbable sutures. Hence, the growing medical or surgical applications of glycolic acid and the rising demand for advanced surgical equipment further bolster the growth of this market. However, the easy availability of alternatives to glycolic acid, such as salicylic acid and stringent regulations by government regulators like the Food and Drug Administration (FDA) concerning glycolic acid concentration in personal care products are factors expected to impede the global glycolic acid market growth in the near future.
Key findings of the report:
- Based on purity, the glycolic acid 30% segment, which accounted for a significant revenue of USD 110.85 million in 2019, is estimated to register the highest 7.2% CAGR over the projected period. Expanding applications of glycolic acid 30% in chemical skin peels and anti-aging creams, as well as its effectiveness in reducing face wrinkles and replenishing the skin.
- Among the key regional markets, the Asia Pacific region led the global glycolic acid market in 2019 and is projected to maintain its leading market standing through the forecast period. The flourishing cosmetics & personal care industry across the region, the booming fashion industry, rising focus on physical appearance and grooming, changing lifestyles, and higher expenditure on premium personal care products are the predominant factors contributing to the Asia Pacific market growth.
- The leading players in the global glycolic acid market include Water Chemical Co. Ltd., Zhonglan Industry Co. Ltd., Shandong Xinhua Pharmaceutical Co. Ltd., CABB GmbH, China Petroleum & Chemical Corporation, Parchem Fine & Specialty Chemicals, Avid Organics, Eastman Chemical Company, Saanvi Corporation, and Mehul Dye Chem Industries.
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For the purpose of this report, the global glycolic acid market has been segmented on the basis of purity, grade, application, and region:
By Purity (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- Glycolic Acid 30%
- Glycolic Acid 70%
- Glycolic Acid 99%
- Others
By Grade (Revenue, USD Million; Volume, Kilotons; 2017-2027)
- Cosmetic
- Technical
- Others
By Application (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- Household & Personal Care
- Pharmaceutical
- Textiles
- Food Processing
- Others
By Region (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Benelux
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
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Key Points Covered by the Report:
- The report offers a comprehensive overview of the global Glycolic Acid Market along with the idea about the content of the research study
- The report offers strategic recommendations to both established and novice players to aid in fortifying their presence
- The report presents insightful data to the companies to help them gain maximum returns on their investment and formulate new investment strategies
- It provides a comprehensive overview of the competitive landscape to offer a competitive edge to the readers
- The report covers an extensive regional analysis to impart a better understanding of the spread of the market in key geographies of the world
- In-depth analysis of the current and emerging market trends and drivers and restraints
- An 8-year comprehensive forecast for the Glycolic Acid market on the global and regional scale
- Thorough SWOT analysis and Porter’s Five Forces analysis
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