Based on Research Nester's assessment of the growth and market size of the global glycolic acid market, the market is expected to be driven by the increasing use of glycolic acid in personal care products such as creams, gels, and lotions
New York – June 02, 2023 - Research Nester’s recent market research analysis on “Glycolic Acid Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global glycolic acid market in terms of market segmentation by purity level, grade, application and by region.
The global glycolic acid market is estimated to grow majorly on account of
Some of the major growth factors and challenges that are associated with the growth of the global glycolic acid market are:
Growth Drivers:
• Increasing consumer awareness of skin health and their willingness to invest in skin care products
• Growing popularity regarding the use of organic and natural products, which has encouraged manufacturers to produce products with low side effects
Challenges:
The increasing cost of raw materials and the stringent regulatory environment for the production of glycolic acid are expected to limit the growth of the global market. Additionally, glycolic acid is an exfoliant that can irritate and dry out skin if used too frequently or in too high of a concentration. Additionally, it can make underlying skin conditions such as acne and eczema worse. As a result, people are becoming more cautious of using glycolic acid and its associated health risks, which is leading to a decrease in demand for the product.
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By application, the global glycolic acid market is segmented into personal care & dermatology, tanning & dyeing, agriculture, medical, and food. The personal care & dermatology segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period This is because glycolic acid has a wide range of uses in the personal care and dermatology industry, such as exfoliants, moisturizers, anti-aging creams, and acne treatments. Its ability to effectively and gently remove dead skin cells and excess oil, while stimulating collagen production, make it a popular choice for many personal care products. Moreover, the increasing awareness of skin-related health among consumers, the growing popularity of organic and natural beauty products, and the rising demand for anti-aging products are some of the other factors that are expected to drive the segment’s growth.
By region, the Asia Pacific glycolic acid market is to generate the highest revenue by the end of 2035. This growth is anticipated by the increased spending power of consumers in the region, as well as the rising demand for innovative and effective cosmetic products. The cosmetics sector in China is booming due to the changing lifestyles and improved economic conditions of the Chinese population. China has the largest population in the world and the demand for cosmetics and other personal care products has grown exponentially over the last few years. This has made China a major customer of the cosmetics sector. It is estimated that the Chinese market is worth USD 80 billion in terms of cosmetics, fragrances, and personal care products. Additionally, the region's growing e-commerce sector is expected to further drive market growth, as it provides a more convenient platform for shoppers to purchase glycolic acid products.
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This report also provides the existing competitive scenario of some of the key players of the China Petrochemical Corporation, The Chemours Company, CABB Group, Saanvi Corp, Parchem Fine & Specialty Chemicals, Water Chemical Co., Ltd, Shandong Xinhua Pharmaceutical Co., Ltd., Mehul Dye Chem Industries, Avid Organics, Zhonglan Industry Co., Ltd., Eastman Chemical Company.
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