Global Mandelic Acid Market Insights Forecasts to 2030
- The global Mandelic Acid Market was valued at USD 190.00 Million in 2021.
- The Market is growing at a CAGR of 15% from 2022 to 2030
- The global Mandelic Acid Market is expected to reach USD 668.39 Million by 2030
- Asia Pacific is expected to grow the fastest during the forecast period.
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The global Mandelic Acid Market is expected to reach USD 668.39 Million by 2030, at a CAGR of 15% during the forecast period 2022 to 2030. The rising demand for mandelic acid in numerous applications, including API synthesis, preservatives, and others, has attributed 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.
Alpha hydroxy acids contain mandelic acid. It is a crystalline white substance that may be dissolved in both water and organic solvents. An aromatic substance is maladic acid. It is a vital component of the pharmaceutical and cosmetic industries. It is derived from bitter almonds and utilised in pharmaceutical and personal care goods as a medication and antibacterial. One of the helpful substances that is kind to the skin and contains elements that aid with particular skin concerns like hyperpigmentation, acne, skin texture, and ageing impacts enhances the overall texture and look of the skin is mandelic acid. Major factors expected to drive the growth of the worldwide mandelic acid market include rising consumer awareness of skin treatment options, rising consumer expenditure on beauty goods, and rising pharmaceutical industry need for products with antimicrobial properties. With each new year, consumer expenditure on cosmetic goods rises. Their emphasis on smooth face skin is luring local cosmetic makers. People are pushing the boundaries of what is possible in order to obtain the looks they want and are taking action to enhance their appearance through operations like cosmetic surgery and fillers. Fine chemical reagents, particularly those used in the creation of electronics, are made using mandelic acid and are employed in a variety of sectors. The market for mandelic acid is being driven by the improvement of electrical goods. Methenamine and maldic acid may be combined to create maldeamine, which is frequently used to treat urinary tract infections (UTI). It is a necessary component in the creation of many drugs. Mandelic acid can have negative consequences on a small number of people. It might not be suitable for everyone's skin. The market for mandelic acid is expected to suffer as a result. Due to recent events surrounding the COVID-19 pandemic, a number of governmental and private sector firms are working at a reduced capacity or have totally suspended operations. Due to recent events surrounding the COVID-19 epidemic, a number of governmental and private sector companies stopped operating, putting an end to the production of mandelic acid. The market for mandelic acid shrank as a result of the worldwide suspension of mandelic acid production owing to a lack of raw materials, labour shortages, etc. Mandelic acid demand from the chemical and textile industries is predicted to increase, supporting the target market's expansion. It is anticipated that factors like strict government restrictions and high costs associated with R&D activities would impede the growth of the worldwide market for mandelic acid. The expansion of the target market is also anticipated to be hampered by shifting raw material prices. Over the course of the forecast period, new product releases, increased medicine demand, and increasing R&D spending by key companies are all anticipated to open up new possibilities for participants in the mandelic acid market. Additionally, it is anticipated that growing partnerships and agreements between public and private entities for R&D would drive target market revenue transactions.
Global Mandelic Acid Market Report Coverage
|Market Size in 2021:||USD 190.00 Million|
|Forecast Period 2022-2030 CAGR:||15%|
|2030 Value Projection:||USD 668.39 Million|
|Historical Data for:||2019-2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||106|
|Segments covered:||By Type, By Application, By Region|
|Companies Covered:||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, Shengyu Chemical|
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This research report categorizes the Market for global Mandelic Acid based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Mandelic Acid Market. Recent Market developments and competitive strategies such as expansion, Product launch and development, partnership, merger, and acquisition have been included 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 global Mandelic Acid Market sub-segments.
- In 2021, the DL Mandelic Acid segment accounted for the largest share of the Market, with 41.6% and a Market revenue of 79.04 Million.
Based on the type, the Mandelic Acid Market is categorized into DL Mandelic Acid, L Mandelic Acid and D Mandelic Acid. In 2021, the DL Mandelic Acid segment accounted for the largest share of the Market, with 41.6% and a Market revenue of 79.04 Million. 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.
- In 2021, the Pharmaceutical segment accounted for the largest share of the Market, with 31.6% and a Market revenue of 60.04 Million.
Based on the application, the Mandelic Acid Market is categorized into Pharmaceutical, Cosmetics & Personal Care, Textiles & Dye Intermediates and Others. In 2021, the Pharmaceutical segment accounted for the largest share of the Market, with 31.6% and a Market revenue of 60.04 Million. 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.
Regional Segment Analysis of the Mandelic 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 Mandelic Acid Market, with a Market share of around 45.15% and 85.78 Million of the Market revenue in 2021.
- North America emerged as the largest Market for the global Mandelic Acid Market, with a Market share of around 45.15% and 85.78 Million of the Market revenue in 2021. 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 Market is expected to grow at the fastest CAGR between 2021 and 2030, In Asia-Pacific market's expansion may be due to a number of variables, including rising demand from several sectors, including the food and beverage industry, medicines, and the cosmetics and personal care business. The region also has a sizable population, which significantly increases the demand for these goods. Additionally, the region is home to several small and medium-sized businesses (SMEs) that are involved in the production of mandelic acid and its derivatives, which is helping to drive the expansion of this industry.
The report offers the appropriate analysis of the key organizations/companies involved within the global Mandelic 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:
- Hanhong Group
- Evonik Industries AG
- BASF SE
- Sigma Aldrich
- Alfa Aesar
- Biosynth Carbosynth
- Runder Pharmda
- Xinhetai Science and Technology
- Smart Chemicals
- R.L. Chemicals
- Keyuan Biopharma
- Shengyu Chemical
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 January 2018, A new mandelic acid-containing product was introduced by The Ordinary, a global manufacturer of skin care products. By speeding cell turnover, which enhances skin's general texture and tone, the product is anticipated to benefit skin. The company was able to grow its business and improve its revenue share thanks to the product introduction.
- In June 2016, One Mandelic Acid Renewal Toner was introduced by a skin care firm for Beloved One. The product gave users smooth and even skin by thoroughly cleansing the face, minimizing pore size, and getting rid of acne scars. The firm was able to expand its client base and improve its product selection thanks to the product introduction.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Mandelic Acid Market based on the below-mentioned segments:
Global Mandelic Acid Market, By Type
- DL Mandelic Acid
- L Mandelic Acid
- D Mandelic Acid
Global Mandelic Acid Market, By Application
- Cosmetics & Personal Care
- Textiles & Dye Intermediates
Global Mandelic 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
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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