Alpha Hydroxy Acid Market Forecast | 2023-2028

Market Insights

The alpha hydroxy acid market is estimated to grow from USD 1.43 billion in 2022 to reach USD 2.35 billion by 2028 at an impressive CAGR of 8.53% during the forecast period.

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What is alpha hydroxy acid?

Alpha hydroxy acids are basically organic acids that consist of a carboxylic acid substituted with a hydroxyl group on the adjacent carbon atom. These chemical compounds may be naturally occurring or synthetic and are generally used in skincare preparations for their exfoliating features.

Key Players

Some of the key players in the market are-

• Airedale Chemical Company Limited
• Ava Chemicals Pvt. Ltd.
• Bulk Actives
• Crosschem
• Dow
• DuPont de Nemours, Inc.
• H Plus Limited
• Mehul Dye Chem Industries
• Parchem Fine & Specialty Chemicals
• Tokyo Chemical Industry.

Market Dynamics

These factors are expected to boost the demand for the market in the coming years:

• Growing cosmetics industry across the globe, rising standard of living coupled with increasing consciousness about one’s looks, especially among women.
• Other major factors such as increasing pollution levels and technological advancements in cosmetic products.

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Segments Analysis

By Product Type

The market is segmented as glycolic acid, lactic acid, citric acid, and others. Glycolic acid is estimated to hold the largest share of the market during the forecast period on account of various advantages offered by it, such as uniform exfoliation of the skin, minimized pore appearance, and improved restoration of hair strength and elasticity. On the other hand, lactic acid and citric acid are also estimated to witness significant growth in the market owing to their skin-softening and brightening features. Additionally, lactic acid grows at a CAGR of more than 8.45% during the assessment period.

By Application Type

The market is segmented as cosmetics and dermal. Cosmetics application is estimated to be the dominating segment of the market during the forecast period. Factors such as increasing spending on cosmetic products in developed nations on account of changing lifestyles, growing inclination towards organic and natural-based products, and various benefits offered by cosmetic products such as reduction in ageing signs, acne scars, wrinkles, and cleansing are expected to fuel the overall industry growth during the assessment period.

By Region

Asia-Pacific is estimated to be the leading region in the market on account of China, India, and Japan being the major countries with favourable socio-economic conditions, expected to fuel the regional market growth during the forecast period. Also, North America is estimated to witness significant growth in the market during the assessment period owing to the shifting preference for organic and natural beauty products, in order to minimize the harmful effects of dust, pollution, and sunlight, boosting the growth of the market in the region. Furthermore, the presence of major cosmetic manufacturers in Europe is expected to drive the growth of the European market for alpha hydroxy acid over the assessment period.

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Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

The alpha hydroxy acid market is segmented into the following categories:

By product type:

• Glycolic Acid
• Lactic Acid
• Citric Acid
• Others

By application type:

• Cosmetics
  • Type Analysis: Skin Care, Hair Care, Make Up, Fragrances, and Others
• Dermal

By region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.