Alpha Hydroxy Acid Market to exceed $3bn by 2024
Published Date: October 6, 2017 Authors: Kunal Ahuja, Amit Rawat
Alpha Hydroxy Acid Market size is estimated to exceed USD 3 billion by 2024; according to a new research report by Global Market Insights, Inc.
Potential outlook in skin care, hair care, makeup, fragrances and other cosmetic applications will drive the alpha hydroxy acid market growth. Increase in cosmetic spending particularly in developed nations will support product demand. As per analysis, average annual cosmetic spending is around USD 200 per person in 2017.
Shifting consumer preference for natural based cosmetic ingredients is the key factor driving alpha hydroxy acid market size. Rising demand for antiaging products owing to multifunctional properties and easy product availability will drive industry demand. Anti-aging products industry is projected to worth over USD 216 billion in 2021.
Changing income trends and improving standard of living particularly in developing nations will enhance industry growth. For instance, China disposable income increased to USD 5 billion per capita in 2016 from USD 4 billion per capita in 2015.
Significant product benefits including efficient exfoliation, removal of blackhead & blocked pores and skin lightening are the key driving factors of industry growth. Increased potency and efficiency due to technological advancements and innovations will open new avenues for product demand. However, increased photosensitivity of skin due to removal of dead skin or upper layers of skin is the major restraining factor of business growth.
Browse key industry insights spread across 250 pages with 192 market data tables & 10 figures & charts from the report, “Alpha Hydroxy Acid (AHA) Market Size By Product (Glycolic, Lactic, Citric), By Application (Cosmetics [Skin Care, Hair Care, Make Up, Fragrances], Dermal) Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, South Korea, Australia, Thailand, Taiwan, Indonesia, Brazil, Argentina, Mexico, Venezuela, Saudi Arabia, UAE, South Africa, Iran), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Glycolic alpha hydroxy acid market was valued over USD 380 million in 2016. High effectiveness in treatment of acne, black & white heads, and dark pigments are key properties supporting the product demand. Increasing application scope in anti-ageing formulations to reduce wrinkles, fine lines and freckles has enhanced product penetration.
Lactic acid accounted for over 59% of the overall industry share in 2016. Abundant raw material availability coupled with advancement in extraction process will propel product scope. High stimulation of collagen growth coupled with penetration in deeper skin levels, leading to reduction in sagging and increased skin tightening are fueling factors of industry growth.
Hair care application will value over USD 460 million by 2024. Rising necessity for hair fall prevention, hair nourishment, conditioning & strength restoration are the key factors supporting industry growth. Growth in demand from shampoos & conditioners due to high cleansing effect and sun protection has provided positive outlook for product scope.
North America alpha hydroxy acid market accounted for more than 25% of total industry share in 2016. Growing consumer awareness to prevent early ageing signs, wrinkles and scars have supported the industry growth. Stringent government regulations promoting organic and natural ingredients will propel product demand.
Asia Pacific alpha hydroxy acid market was valued over USD 410 million in 2016. Growing penetration of cosmetic industry due to changing lifestyle will propel the industry growth. Regulatory compliance and increasing manufacturing plants particularly in China will support business growth.
Latin America alpha hydroxy acid market will grow around 12.5% up to 2024. Increasing research & development investment on cosmetic ingredients will drive industry demand. Rising consumer consciousness regarding personal looks has enhanced product penetration.
Global alpha hydroxy acid market is fragmented owing to presence numerous international and regional players. Mehul Dye Chem Industries, Crosschem, Ava Chemicals, Parchem, Dupont, H Plus, and Dow are the major industry players. Collaborations, mergers, supply agreements and long-term contracts are major strategies adopted.
Alpha hydroxy acid market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:
Alpha Hydroxy Acid Market, By Product
- Glycolic acid
- Lactic acid
- Citric acid
- Others (Malic acid, tartaric acid)
Alpha Hydroxy Acid Market, By Application
- Skin care
- Hair care
- Make up
- Others (Hygiene products)
The above information has been provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America (LATAM)
- Saudi Africa
- South Africa