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Alpha Hydroxy Acid Market anticipated to witness healthy CAGR over 2017-2024

Author : Ronak Bora | Published Date : 2019-05-03 

The Alpha Hydroxy Acid Market is set to grow from its current market value of more than $3 billion to over $1.5 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

The presence of a stringent regulatory landscape is undeniably one of the pivotal factors driving alpha hydroxy acid market. Strategic initiatives undertaken by authorized bodies form an essential crux of AHA industry growth, given that the product may have adverse effects when deployed in excess. The U.S. Food and Drug Administration (FDA), for instance, in 2005, circulated essential guidelines for cosmetic producers using alpha hydroxy acids in their products as a main ingredient.

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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.

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.

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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.

Browse key industry insights spread across 250 pages with 192 market data tables & 10 figures & charts from the report, “Alpha Hydroxy Acid Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/alpha-hydroxy-acid-aha-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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