Global Alpha Hydroxy Acid Market Size, Share, and COVID-19 Impact Analysis, By Product (Glycolic Acid, Lactic Acid, Citric Acid, and Others), By Application (Cosmetics and Dermal), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Specialty & Fine Chemicals
Global Alpha Hydroxy Acid Market Insights Forecasts to 2030
- The global Alpha Hydroxy Acid market was valued at USD 1.2 billion in 2021.
- The market is growing at a CAGR of 8.5% from 2021 to 2030
- The global Alpha Hydroxy Acid market is expected to reach USD 3.2 billion by 2030
- Europe is expected to grow the fastest during the forecast period
The global Alpha Hydroxy Acid Market is expected to reach USD 3.2 billion by 2030, at a CAGR of 8.5% during the forecast period 2021 to 2030. Alpha hydroxy acid demand has increased globally due to the effects of global warming on the market for skincare goods such as sunscreen lotions, creams, serums, and others. Furthermore, the demand for AHA products is primarily driven by the prevention of early aging symptoms, increased production of elastin and collagen, and enhanced blood circulation.
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Alpha-hydroxy acids (AHAs) are a class of acids originating from both plants and animals and are present in many cosmetic products. These consist of regular anti-aging items like serums, toners, and lotions and treatments like chemical peels. AHA usually supports the peeling of the skin surface so that new skin cells are generated. It is noticed that after its usage skin is even toned and smoother than before. AHA-containing products are marketed for several benefits, including reducing the appearance of fine lines and surface wrinkles, enhancing skin tone and texture, unclogging pores, and boosting skin health. AHAs can also be used in cosmetics to change the pH, for example (the degree of acidity or alkalinity). The FDA has evaluated data indicating that topically applied cosmetics using alpha hydroxy acids (AHAs) as components may make skin more sensitive to sunlight while being used. After the usage is stopped, it may increase skin sensitivity to the sun, thus increasing the probability of sunburn. Thus, the rise in consciousness about the expected side effects, including skin sensitivity, burning, irritation, and redness, can hinder the market growth. Although the demand for personal care goods has increased due to new product developments and technical improvements such as social commerce, digital diagnostics, and E-makeup; as a result, it is anticipated that the alpha-hydroxy acid market share will increase throughout the forecast period. The optimistic outlook for the cosmetics, fragrance, haircare and skincare sectors has fueled demand for alpha hydroxy acid. AHA prevents hair fall by generating lubricant in hair, which helps in detangling hair while protecting hair from heat and other tools. Demand for AHA products is primarily driven by the prevention of early aging symptoms, increased production of elastin and collagen, and enhanced blood circulation. Skin problems are caused by rising pollution levels and bad eating habits, which is anticipated to increase cosmetic usage and reflect well on the market's expansion. Alpha hydroxy acid demand has increased globally due to the effects of global warming on the market for skincare goods such as sunscreen lotions, creams, serums, and others.
Global Alpha Hydroxy Acid Market Report Coverage
|Market Size in 2021:||USD 1.2 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||8.5%|
|2030 Value Projection:||USD 3.2 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||102|
|Segments covered:||By Product, By Application, By Region|
|Companies Covered:||Cargill, Bulk Actives, Corbion, Parchem, Jungbunzlauer Suisse AG, Crosschem, Ava Chemicals, Mehul Dye Chem Industries, Airedale Chemical Company Limited, the Chemours Company, Sculptra Aesthetics, Lotion crafter, H Plus Limited, Tokyo Chemical Industry.|
|Growth Drivers:||The lactic acid segment dominated the market with the largest market share of 26.8% and market revenue of 0.3 billion.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the market for alpha hydroxy acid based on various segments and regions and forecasts revenue growth and analysis trends in each of the submarkets. The report analyses the key growth drivers, opportunities, and challenges that influence the alpha hydroxy acid market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included in order to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the alpha hydroxy acid market.
- In 2021, the lactic acid segment dominated the market with the largest market share of 26.8% and market revenue of 0.3 billion.
Based on the Product, the alpha hydroxy acid market is categorized into glycolic acid, lactic acid, citric acid, and Others. In 2021, the lactic acid segment dominated the market with the largest market share of 26.8% and market revenue of 0.3 billion. The lactic acid segment is likely to account for the highest revenue in the market due to its accessibility and tendency to be sold at a lower price than other acids. The skin is penetrated by lactic acid, which whisks away the dry, dead skin. Decreasing wrinkles, enhances the texture and tone of the skin, making it appear younger. Since ancient times, it has been utilized in skincare and cosmetic treatments and is largely present in milk. The glycolic segment is expected to grow at a significant CAGR due to the growing demand for over-the-counter skin care products. The market is expected to continue to grow by rising demand for glycolic acid in the cosmetic sector and personal care products, particularly as a favored ingredient in anti-aging, anti-pollution, and over-the-counter skin care products. Due to its small molecular structure and unparalleled capacity to quickly and efficiently penetrate the skin, it fights many of the harmful impacts of pollution and other anti-ageing issues by washing and exfoliating the dead skin layers. Glycolic acid lowers acne breakouts, hyperpigmentation, fine lines, scars, and other age-related skin blemishes or spots in anti-ageing and anti-pollution skincare lotions, facial cleansers, gels, and scrubs.
- In 2021, the cosmetics segment accounted for the largest share of the market, with 59.1% and market revenue of 0.70 billion.
Based on Application, the Alpha Hydroxy Acid Market is categorized into cosmetics and dermal. In 2021, the cosmetics segment accounted for the largest share of the market, with 59.1% and market revenue of 0.70 billion. The cosmetic segment is further categorized into skincare, hair care, makeup, and fragrances. The cosmetic segment has accounted for the largest revenue in the market as the expenditure on cosmetic products is rising owing to changes in living standards in developing countries. The market size will also be influenced by the characteristics of cosmetic products like their ability to reduce wrinkles, acne scars, and aging symptoms. Additionally, detangling tools and hair care products that treat hair loss are anticipated to drive market numbers. During the projection period, shifting consumers toward premium and luxury brands will play a crucial role in boosting the industry landscape.
Based on region, the Alpha Hydroxy Acid Market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to be the largest market. Regional industry data will increase as consumer preferences for beauty products change due to the dangers of pollution, sun exposure, and other toxins. Also, supporting governmental laws is essential to expanding the chemical goods industry. During the forecast period, rising consumer expenditure on personal care products will fuel market expansion. Moreover, increased use of mouthwash, peels, and products for acne scars is also driving market share.
Regional Segment Analysis of the Alpha Hydroxy Acid Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America emerged as the largest market for the global Alpha Hydroxy Acid market, with a market share of around 32.3% and 0.38 billion of the market revenue in 2021.
- North America emerged as the largest market for the global Alpha Hydroxy Acid market, with a market share of around 32.3% and 0.38 billion of the market revenue in 2021. North America is expected to be the largest market. As customer preferences for beauty products alter due to the risks associated with pollution, sun exposure, and other contaminants, regional industry statistics will grow. Supporting governmental regulations is also crucial for developing the chemical goods sector. Rising consumer spending on personal care products will spur market expansion during the forecast period. Moreover, increased use of mouthwash, peels, and products for acne scars is also driving market share.
- The Europe market is expected to grow at the fastest CAGR between 2021 and 2030, owing to the rising demand for citric acid from food & pharma manufacturers as they have low toxicity. Also, an increase in awareness of the harmful effects of chemicals that are used every day has led customers to shift to organic products to reduce their chemical intake. This phenomenon has formed an optimistic outlook for the budding market for citric acid in the European region.
The report offers the appropriate analysis of the key organizations/companies involved within the global Alpha Hydroxy Acid 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 companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Bulk Actives
- Jungbunzlauer Suisse AG
- Ava Chemicals
- Mehul Dye Chem Industries
- Airedale Chemical Company Limited
- the Chemours Company
- Sculptra Aesthetics
- Lotion crafter
- H Plus Limited
- Tokyo Chemical Industry.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In August 2022, Airedale Chemical Company Limited announced that they will implement numerous investment projects which will be worth more than £2 million as part of their new ten-year growth plan and commitment to increasing the use of technology in the business.
- In March 2021, Corbion announced the launch of a multi-faceted initiative to increase its capacity for producing lactic acid and lactic-acid derivatives. This strategy helps the company to meet the growing global demand for lactic acid.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Alpha Hydroxy Acid market based on the below-mentioned segments:
Alpha Hydroxy Acid Market, By Product
- Glycolic Acid
- Lactic Acid
- Citric Acid
Alpha Hydroxy Acid Market, By Application
Alpha Hydroxy Acid Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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