New York, United States , Oct. 11, 2022 (GLOBE NEWSWIRE) -- The Global Alpha Hydroxy Acid Market Size is projected to grow from USD 1.2 billion in 2021 to USD 2.2 billion by 2030 at a CAGR of 8.5% during the forecast period. as per the latest research report published by Spherical Insights & Consulting.
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Many cosmetic products contain the class of acids known as alpha-hydroxy acids (AHAs), which are derived from both plants and animals. These include both common anti-aging products like lotions, toners, and serums as well as procedures like chemical peels. AHA-containing products are promoted for their ability to unclog pores, improve skin tone and texture, lessen the visibility of fine lines and surface wrinkles, and generally improve skin health. AHAs can be utilized in cosmetics to alter pH, for instance (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. Therefore, the growing awareness of the potential adverse effects, such as skin sensitivity, burning, irritation, and redness, may restrain market expansion. Although the demand for personal care products has increased due to new product developments and technological advancements like social commerce, digital diagnostics, and E-makeup, it is anticipated that the market share for alpha-hydroxy acids will rise throughout the forecast period. Demand for alpha hydroxy acid has increased due to the promising outlook for the cosmetics, fragrance, haircare, and skincare industries.
This research report categorizes the market for alpha hydroxy acid based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing 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 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.
Browse key industry insights spread across 200 pages with 102 market data tables and figures & charts from the report “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 – 2030” in detail along with the table of contents
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Based on the Product, the alpha hydroxy acid market is categorized into Glycolic Acid, Lactic Acid, Citric Acid, and Others. 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.
Based on Application, the Alpha Hydroxy Acid Market is categorized into Cosmetics and Dermal. 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 qualities of cosmetic items, such as their capacity to lessen wrinkles, acne scars, and ageing symptoms, will also have an impact on market size. The market is also expected to be driven by detangling tools and hair care items that treat hair loss. The industrial landscape will be much improved during the projected period as a result of customers turning more and more toward premium and luxury brands. The dermal segment is also likely to expand at a high CAGR as demand for facial aesthetics is increasing. Also, the surge in dermal fillers and invasive cosmetic procedures are likely to boost the market.
The Alpha Hydroxy Acid Market is segmented based on region: North America, Europe, Asia Pacific, South America, and Middle East & Africa. 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.
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Key Companies & Recent Developments: 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. Key Players 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 and Others.
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