Global Mandelic Acid Market Size To worth $668.39 Million By 2030
According to a research report published by Spherical Insights & Consulting, The Global Mandelic Acid Market Size to grow from USD 190.00 million in 2021 to USD 668.39 million by 2030, at a Compound Annual Growth Rate (CAGR) of 15% during the forecast period. The rising demand for mandelic acid in numerous applications, including API synthesis, preservatives, and others, has contributed for the market's expansion. The expansion of this market is also being driven by the rising level of understanding regarding the advantages of using mandelic acid.
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Browse key industry insights spread across 210 pages with 106 market data tables and figures & charts from the report “Global Mandelic Acid Market Size, Share, and COVID-19 Impact Analysis By Type (DL Mandelic Acid, L Mandelic Acid and D Mandelic Acid), By Application (Pharmaceutical, Cosmetics & Personal Care, Textiles & Dye Intermediates and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030. “in detail along with the table of contents. https://www.sphericalinsights.com/reports/mandelic-acid-market
Rising awareness among consumer related to skin treatment, increasing consumer spending on beauty products and increasing demand from pharmaceutical sector in products as antimicrobial are major factors expected to drive the growth of global mandelic acid market. Rising demand for mandelic acid from chemical and textile industry is expected to support the growth of target market. Factors such as stringent government regulations and high cost associated to R&D activities are expected to hamper the growth of global mandelic acid market. Rise in demand for mandelic acid by the food and beverages industry is the root cause fuelling up the market growth rate. Rising application areas for mandelic acid such as in cosmetic products and growth and expansion of various end user verticals especially in the developing economies will also directly and positively impact the growth rate of the market.
On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and business in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
The DL Mandelic Acid segment to account for the largest market size during the forecast period
Based on the type, the Mandelic Acid Market is categorized into DL Mandelic Acid, L Mandelic Acid and D Mandelic Acid. The DL Mandelic Acid segment to account for the largest market size during the forecast period. Throughout the forecast period, the DL Mandelic Acid segment is anticipated to maintain its leading position while expanding at the fastest CAGR Because of its antibacterial properties, which extend the shelf life of the product, DL mandelic acid is used as a preservative in cosmetic items. To protect it from bacterial harm, the substance is used as a preservative in personal care products
The Pharmaceutical segment to hold a higher CAGR during the forecast period.
Based on the application, the Mandelic Acid Market is categorized into Pharmaceutical, Cosmetics & Personal Care, Textiles & Dye Intermediates and Others. The Pharmaceutical segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Pharmaceutical segment is anticipated to maintain its leading position while expanding at the fastest CAGR Because The product serves as a precursor in the drug-synthesis process in the pharmaceutical sector. The substance is also used to make eye drops that dilate pupils and an active pharmaceutical component that suppresses coughing, both of which should increase demand for mandelic acid. The fact that the substance is also used to make the drug urotropine mandelic acid, which is used to treat urinary tract infections, should encourage the pharmaceutical sector to purchase it. It is projected that rising medicine sales and an expanding pharmaceutical sector would drive up the expansion of the mandelic acid market.
North America is estimated to account for the highest market share in 2022.
The Global Mandelic Acid Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. The demand for Mandelic Acid is being driven by the rising acceptance by the market. The market for Mandelic Acid was dominated by the North America region because of the area's expanding pharmaceutical sector. The product is used to create a variety of pharmaceutical active components, including as anti-inflammatory and antibacterial medications. The development of the mandelic acid market is anticipated to be bolstered by ongoing improvements in the production of active pharmaceutical drugs and significant investments in the pharmaceutical sector. Asia Pacific to hold a higher CAGR during the forecast period. Canada is also a significant market in North America, driven by the growing demand for water treatment and paper production.
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Europe should register over xx.xx% gains by 2030 on account of the increasing adoption of personal care products due to rising consumer inclination towards hygiene, skincare, haircare, and wellness. The region is a major consumer of hair care products and is anticipated to boost product demand as a preservative and exfoliating agent. The growing demand for clean water and advancements in water treatment technology are driving the growth of the PAC market in Europe.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Mandelic Acid Market Share include Hanhong Group, Evonik Industries AG, BASF SE, Sigma Aldrich, Alfa Aesar, Clearsynth, Biosynth Carbosynth, Runder Pharmda,BIOTEC, Xinhetai Science and Technology, Smart Chemicals, R.L. Chemicals, TNJ, Keyuan Biopharma, and Shengyu Chemical. The mandelic acid industry share is competitive and includes manufacturers such as Hanhong Group, Evonik Industries AG, BASF SE, Sigma Aldrich, Alfa Aesar, Clearsynth, Biosynth Carbosynth, Santa Cruz Biotechnology.
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Frequently Asked Questions (FAQ)
What is the market size of the Mandelic Acid market?As per Spherical Insights, the size of the Mandelic Acid market was valued at USD 190.00 million in 2022 to USD 668.39 million by 2030.
What is the market growth rate of the Mandelic Acid market?The Mandelic Acid market is growing at a CAGR of 15% from 2022 to 2030.
Which country dominates the Mandelic Acid market?North America emerged as the largest market for Mandelic Acid.
Who are the key players in the Mandelic Acid market?Key players in the Mandelic Acid market are Hanhong Group, Evonik Industries AG, BASF SE, Sigma Aldrich, Alfa Aesar, Clearsynth, Biosynth Carbosynth, Runder Pharmda, BIOTEC, Xinhetai Science and Technology, Smart Chemicals, R.L. Chemicals, TNJ, Keyuan Biopharma, and Shengyu Chemical.
Which factor drives the growth of the Mandelic Acid market?Rising awareness about the benefits of mandelic acid is expected to drives the market's growth over the forecast period.
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