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Alpha Hydroxy Acid Market in North America will expand with a significant CAGR of 12% by 2024

Author : Ronak Bora | Published Date : 2019-03-07 

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 is set to surpass USD 950 million by 2024. Supportive socio-economic norms in India, China, Australia and Japan will promote industry growth. As per industry estimates, regional cosmetics industry was worth over USD 100 billion in 2016, and is expected to exceed USD 125 billion by 2020.

Changing demographic trends coupled with increasing skin consciousness among consumers will drive alpha hydroxy acid market growth. Cosmetic industry expansion along with increase in consumer affordability will be a key factor driving product demand. Hair & skin care, makeup and fragrances are the key contributing applications.

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Global cosmetic market spending was more than USD 290 billion in 2016 and will surpass USD 344.4 billion by 2024. Prevention from early ageing signs, augmented elastin & collagen production and improved blood circulation are major properties influencing alpha hydroxy acid adoption in cosmetic products.

Glycolic acid witnessed demand over 40 kilo tons in 2016. Benefits including dissolution of dead skin cells, uniform exfoliation of skin, congested pores & spot removal and diminished pores appearance are chief reasons fueling product penetration. High product availability owing to abundant raw material supply including beets, grapes and pineapples will benefit product growth in the long run.

Citric alpha hydroxy acid will witness growth over 5% up to 2024. High pH balancing purpose along with inclusive product utilization in conjunction with other ingredients to brighten & revive skin will generate lucrative opportunities for business growth.

Rising consumer trends towards skin peeling owing to its long duration benefit has positively enhanced alpha hydroxy acid demand in dermal applications. Skin exfoliation accompanied by effective actions against corrosiveness and toxicities in skin have market penetration.

Cosmetic applications generated revenue over USD 1 billion in 2016. Shifting lifestyle and consumer preference for high quality and effective skin products has positively driven industry growth in this segment.

Hair care application will surpass 100 kilo tons demand by 2024. Reducing hair fall, easy detangling and defensing hair against styling tools are the key factors likely to foster alpha hydroxy industry growth. Increasing necessity for effective dirt and pollutant cleaning without damaging hair moisture content will enhance demand.

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Global alpha hydroxy acid market share is moderately fragmented due to large presence of numerous local and global companies. Key industry players include Airedale Chemical Company, Dow Chemicals, Dupont, Crosschem, Ava Chemicals, H Plus Limited Parchem and Mehul Dye Chem Industries.

L'Oreal Paris, Nivea, Gillette, Clinique, Garnier, Chanel, and Nieutrogena are among the key customers in the industry. New product development through expansion, collaboration, and acquisitions are key strategies to maximize profitability.

 

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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