Alpha Hydroxy Acid Market Report 2024

The alpha hydroxy acid market size has grown rapidly in recent years. It will grow from $1.35 billion in 2023 to $1.49 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The increase in growth observed during the historic period can be attributed to the growing awareness of skincare, advancements in cosmetic science, the popularity of anti-aging products, and the expansion of the beauty and wellness industry.

The alpha hydroxy acid market size is expected to see rapid growth in the next few years. It will grow to $2.2 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The anticipated growth during the forecast period can be attributed to the rising demand for personalized skincare, the expansion of premium beauty products, the growth of e-commerce platforms, and innovations in AHA formulations. Key trends in the forecast period include a shift towards natural and organic products, an emphasis on multifunctional products, increased use of professional treatments, the growing popularity of at-home skincare devices, and technological advancements.

The rising demand for skincare products is anticipated to drive the growth of the alpha-hydroxy acid market in the future. Skincare products are topical formulations designed to cleanse, moisturize, and treat the skin to maintain or enhance its health, appearance, and texture. This demand is growing due to heightened awareness of skincare benefits, an aging population, and the influence of social media. Additionally, advancements in product formulations and the expansion of e-commerce contribute to easier access and a broader range of options. Alpha-hydroxy acids (AHAs) are widely used in skincare products for their exfoliating properties, which help remove dead skin cells and promote smoother, more radiant skin. For example, n May 2023, according to The Cosmetic, Toiletry, and Perfumery Association, a UK-based organization, indicated that skincare product sales reached 479,569 units in 2022, up from 461,472 units in 2021. Thus, the growing demand for skincare products is driving the expansion of the alpha-hydroxy acid market.

Leading companies in the alpha-hydroxy acid market are moving towards personalized skincare solutions, such as glycolic acid eye serum, to address the rising consumer demand for targeted and effective skincare treatments. The glycolic acid eye serum is a specialized skincare product designed to tackle under-eye issues such as dark circles and puffiness. For example, in February 2024, L'Oréal S.A., a France-based personal care company, introduced the glycolic bright dark circle eye serum specifically for the Indian skincare market. This product effectively addresses under-eye hyperpigmentation and puffiness, meeting the increasing demand in the eye serum category. The scientifically formulated serum claims to reduce dark circles by up to 49% in just two weeks, with visible improvements over time. It combines three key ingredients - glycolic acid (3%), vitamin C, and niacinamide - known for their effectiveness in addressing under-eye concerns. The serum features a unique triple-bead applicator with patented cooling technology, ensuring quick absorption and enhanced depuffing benefits for the under-eye area.

In May 2023, Firmenich International S.A., a Switzerland-based company in the fragrance and flavor industry, merged with Koninklijke DSM N.V. for an undisclosed amount. This merger was driven by DSM's strategic shift towards sustainable food and health products, moving away from petrochemicals and materials. The merger combined DSM's nutritional ingredients with Firmenich's expertise in flavors and fragrances, creating a powerful entity focused on innovation within the food and beverage industry. Koninklijke DSM N.V., a Netherlands-based company specializing in health and nutrition materials, produces skincare products integrated with alpha-hydroxy acids.

Major companies operating in the alpha hydroxy acid market are Archer Daniels Midland Company, BASF AG, Johnson & Johnson, L'Oréal Group, The Estée Lauder Companies Inc., E. I. du Pont de Nemours and Company (DuPont), Beiersdorf AG, Shiseido Company Limited, Corbion N.V., Roquette Frères, Shandong Xinhua Pharmaceutical Co. Ltd., Biesterfeld AG, Jungbunzlauer International AG, Spectrum Chemical Mfg. Corp., Henan Jindan Lactic Acid Technology Co. Ltd., Prathista Industries Limited, Airedale Chemical Company Limited, Parchem Fine & Specialty Chemicals, Colonial Chemical Inc., Ava Chemicals Pvt. Ltd., H Plus Limited, Lotioncrafter LLC, Chemtex Speciality Limited, CABB Group, Musashino Chemical Laboratory Ltd., Crosschem S.A., Galactic S.A.

North America was the largest region in the alpha hydroxy acid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the alpha hydroxy acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the alpha hydroxy acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Alpha-hydroxy acids (AHAs) are a group of naturally occurring acids found in various fruits and milk, widely used in skincare products for their exfoliating effects. These acids function by loosening the bonds between dead skin cells, facilitating exfoliation, and revealing smoother, brighter skin.

The primary types of alpha-hydroxy acids are glycolic acid, lactic acid, citric acid, and others. Glycolic acid, obtained from sugarcane, is a notable AHA known for its small molecular size, which allows it to penetrate the skin deeply and exfoliate by dissolving dead skin cells, leading to a smoother texture and more even skin tone. AHAs can be sourced from natural or synthetic origins and are applied in cosmetics and dermal treatments.

The alpha hydroxy acid market research report is one of a series of new reports that provides alpha hydroxy acid market statistics, including alpha hydroxy acid industry global market size, regional shares, competitors with an alpha hydroxy acid market share, detailed alpha hydroxy acid market segments, market trends and opportunities, and any further data you may need to thrive in the alpha hydroxy acid industry. This alpha hydroxy acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The alpha-hydroxy acid market consists of hydroxycaproic and mandelic acids used in skincare products. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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