Alpha hydroxy acid market size is estimated to surpass USD 2.2 Billion by 2028, according to a new research report by Global Market Insights Inc.
Increased disposable income coupled with inclination to spend on cosmetic and personal grooming products will generate new opportunities for AHA manufactures globally. Beautifying aspects of makeup and fragrance products are also contributing to propel the market progression. Further, offering a wide range of innovative and creative packaging in cosmetics products by manufacturers is propelling the growth of the market. Enhanced hair strands and strengths associated with the removal of pollutants have improved the product range in hair care applications. Advanced hair nourishment and reduction of hair fall are playing a key factor in market growth.
Increased absorption of active elements from skincare creams and serums will boost market size. Controlling wrinkles and oils, treating acne, removing dead skin, reducing dark spots, and restoring genuine skin tone are important factors that promote product penetration. The outbreak of the COVID-19 epidemic has had a bad impact on the alpha hydroxy acid market. Operational disruptions in the supply chain have created a major challenge as demand is reduced due to low purchasing power and willingness to buy. Furthermore, the sales on the premises of supermarkets and grocery stores witness a decline due to the closure of the facilities followed by the closure of the stores, as people continued to follow social media and avoid gathering and going out.
Rapid increase in the usage of glycolic acid in skincare products to drive the alpha hydroxy acid market expansion
glycolic acid segment crossed USD 460 million in 2021 and is set to witness a CAGR of 9% through 2028. Glycolic acid is colorless, odorless, non-volatile, and soluble in water. It has applications in skincare products such as face masks, cleansers, moisturizers, and serums. The rising focus on physical appearances and increased influence of social media is promoting business growth for personal care products.
Additionally, the growing demand for glycolic acid in the oil & refining sector as a convenient cleaning process leads to market. Continuous product developments and innovative packaging in the cosmetics applications will foster the market trends. In recent years glycolic acid has been prominently used as direct applications in terms of serums and sheet mask thus propelling its demand in the global market.
Browse key industry insights spread across 210 pages with 197 market data tables & 31 figures & charts from the report, “Alpha Hydroxy Acid (AHA) Market Size Product (Glycolic, Lactic, Citric), Application [Cosmetics (Skincare, Hair Care, Makeup, Fragrances], Dermal) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022-2028’’ in detail along with the table of contents:
Rapid increase in the cosmetics applications to fuel the alpha hydroxy acid market revenue
cosmetics segment is projected to cross USD 1.5 billion by 2028, growing at a CAGR of 9% during the forecast period. The growing number of working women and the rising awareness about facial looks among women will spur the market expansion. The growing e-commerce industry and the increasing influx of social media will boost the market size. The distribution of cosmetics has been expanded through a variety of mainstream channels, such as supermarkets, supermarkets, grocery stores, specialty stores, and convenience stores. Further, the ongoing trend of bulk shopping is escalating owing to busy lifestyles and the increased income of consumers will support the business landscape
Positive outlook for the premium cosmetics industry to drive the Asia Pacific alpha hydroxy acid market growth
Asia Pacific market is set to reach USD 610 million by 2028. The favorable socio-economic conditions especially in Japan, India, and China have increased the demand for the industry. Increased consumer awareness of personal appearance adjustments coupled with changing income trends is major factors that support regional market demand. Color cosmetics related to the eye facial, & makeup sector are supporting regional market value. With increasing internet penetration, the online consumer goods market has seen rapid growth.
Major industry players include Cargill, Corbion, the Chemours Company, Jungbunzlauer Suisse AG, Crosschem, Mehul Dye Chem Industries, Ava Chemicals, Parchem, H Plus Limited, Airedale Chemical Company Limited, Sculptra Aesthetics, Lotion crafter, Bulk Actives, and Tokyo Chemical Industry. The key strategies observed among the industry participants include new acquisitions, new product development, and distribution network expansion.