Westford, USA, Nov. 23, 2022 (GLOBE NEWSWIRE) -- Glycolic acid is a naturally-occurring molecule found in many fruits and vegetables. It has been used in skin and hair care products for years across global glycolic acid market, but it has recently garnered growing attention as a powerful exfoliator. Like other acids, glycolic acid can break down the skin's outer layer, or epidermis. This destroys the barrier that protects the underlying layers of skin from dryness, bacteria, and pollutants.
Glycolic acid is a skin-hydrating, exfoliating agent that has seen increasing demand in recent years. Dermatologists often use glycolic acid to treatment acne, hyperpigmentation, and other skin concerns. Additionally, it is popular as a lightening agent and multi-tasker thanks to its ability to dissolve melanin and make skin appear less wrinkled.
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Glycolic acid also has anti-aging properties. The molecule helps to rejuvenate the surface layer of skin, which decreases the appearance of wrinkles and age spots. In addition to its cosmetic applications, glycolic acid is being studied for its potential role in treating various skin conditions such as acne or psoriasis.
One of the main barriers to further growth in the global glycolic acid market is its high price point. However, technological advances are helping to lower this barrier while delivering comparable or even better results. For instance, novel delivery systems such as liposomes and microneedles help to slow down—or even stop—the release of glycolic acid until it reaches the target area, minimizing irritation and downtime. This technology is being adopted by several leading brands in the market today.
Asia Pacific to Hold Over 48% Share of Global Glycolic Acid Market
Asia Pacific is the largest producer and consumer of glycolic acid. Glycolic acid is a skin-care ingredient that is derived from sugarcane and is used in products to remove wrinkles, age spots, and blemishes. Asia Pacific is also the top market for glycolic acid supplements. The region produced more than half of the world’s glycolic acid in 2021.
In Asia-Pacific, volume growth is forecast to exceed revenue growth due to the increasing demand for glycolic acid-based skin care products in Asia Pacific. North America will be second with a revenue share of 27%. The Europe market is expected to grow at a CAGR of 5% during the forecast period.
The report finds that the fastest-growing segment of the glycolic acid market is for functional foods and beverages: this category is expected to grow at a CAGR of 9.8% between 2021 and 2028. This growth can be attributed to health concerns around obesity, diabetes and other chronic diseases, which have driven demand for products that help promote better health. Another reason for this growth may be the increasing awareness among consumers about the environmental impact of manufacturing processed foods and drinks.
This of the global glycolic acid market analysis provides an overview of the glycolic acid industry including market size, distribution by top players and regions, recent developments, and future prospects. The report also provides insights into the key drivers and restraints impacting the market growth.
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Top Trend in Global Glycolic Acid Market
1. Glycolic Acid as a Facial Treatment: Glycolic acid is now being used as an effective facial treatment for acne, sunburns, age spots and other skin conditions. Since it has little or no side effects, glycolic acid is becoming more popular as an alternative to harsher treatments such as chemical peels or laser treatments.
2. Glycolic Acid–Derived Creams for Acne: One of the most common uses of glycolic acid today is in topical acne creams. These formulas usually include both glycolic and salicylic acids (two types of alpha hydroxy acids), which work together to break down Propionibacterium acnes bacteria that cause oily pimples.
3. Glycolic Acid Skincare for Impatient Customers: Recent studies on the global glycolic acid market have shown that people are more likely to respond well to glycolic acid facial skincare if they're given brief but effective treatment protocols. So, some skincare companies are catering to impatient customers by offering shorter peeling times and minimal downtime.
Sensitive Skincare offers a three-step glycolic acid peel regimen that involves only one application per day (and no need for any down time). Glow Recipe also offers a 30-minute quick peel that works on all skin types.
4. Glycolic Acid Peels for African Americans and Other Dark-Skinned Individuals: Research on the glycolic acid market has shown that dark-skinned individuals require higher concentrations of glycolic acid than lighter-skinned individuals in order to achieve equivalent results. This is because black skin contains more melanin—a pigment that blocks light—than white skin does. So, some glycolic acid brands have come up with formulations specifically designed for darker skin types. A good example is the Lano Sciences Glycolix range, which takes advantage of the compound's ability to penetrate deep into the pores to treat acne and other skin problems while minimizing sensitivity.
99% Pure Glycolic Acid is Consumed Heavily in Global Glycolic Acid Market
The glycolic acid market has witnessed robust growth over past few years owing to its growing prevalence in skin care products and chemicals applications across various industries. There are several reasons for this increasing adoption of glycolic acid in the market such as its low toxicity, broad spectrum antimicrobial properties, and non-irritant nature.
The dominance of 99% pure glycolic acid is attributed to its premium performance attributes such as being more effective against acne scars, blemishes, and skin rejuvenation. In addition, other key factors such as healthcare reimbursement policies encouraging manufacturers to produce higher purity levels of glycolic acid are also contributing towards this dominance. This trend is likely to continue in the near future as hospitals and clinics increasingly adopt glycolic acid formulations for various medical applications including wound healing and tissue regeneration.
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Top Players in Global Glycolic Acid Market
- China Petrochemical Corporation (Sinopec Corp.), (China)
- The Chemours Company (U.S.)
- CABB Group (Germany)
- Saanvi Corp (India)
- Parchem Fine & Specialty Chemicals (U.S.)
- Water Chemical Co., Ltd (China)
- Shandong Xinhua Pharmaceutical Co., Ltd. (China)
- Mehul Dye Chem Industries (India)
- Avid Organics (India)
- Zhonglan Industry Co., Ltd. (China)
- Eastman Chemical Company (U.S.)
- Corbion (Netherlands)
- CrossChem LP (U.S.)
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