Glycolic Acid Market Analysis
Explore In-Depth Glycolic Acid Market Analysis, Covering Detailed Segmentation and Geographical Insights for the Period of 2019 to 2030
Glycolic Acid Industry Insights
Insights by Application
The personal care & cosmetics category accounts for the largest market share, of 35%, in 2024. It is also expected to witness the highest CAGR during the forecast period, of 6.8%.
This is because glycolic acid is widely used in personal care and skincare products, such as anti-aging creams, wrinkle removal products, toners, moisturizers, and other hair care products. As per Cosmetics Europe, the cosmetics industry of the continent registered retail sales worth EUR 96 billion in 2023.
Additionally, the growing awareness for personal cleanliness, combined with rising disposable income and surging desire among individuals to improve their look, is driving the demand for skincare products, which is ultimately increasing the need for glycolic acid.
Moreover, major players in the personal care & cosmetics sector are investing in innovative technologies in order to improve their glycolic acid-based product portfolios in the skincare segment, as this chemical is a scientifically proven anti-aging ingredient that helps in youthful-looking skin. For instance, SkinCeuticals’ Glycolic 10 Renew Overnight cream helps in improving skin texture and skin radiance by 36%. This cream also facilitates minimizing fine lines and helps in younger-looking skin.
The following applications are covered in this report:
- Personal Care & Cosmetics (Largest and Fastest-Growing Category)
- Cleaning Disinfectant
- Dyeing & Tanning
- Others
Insights by Grade
During the forecast period, the demand for 99% glycolic acid is projected to grow at the highest CAGR, of 7.4%. The category also currently accounts for the largest share in 2024. This can be because it helps in reducing fine lines and wrinkles, stimulating the production of skin cells to renew the sun-damaged skin, and improving the skin tone; and its various applications, such as skin peels, day creams, and skin lighting creams. Apart from its high-volume consumption in the cosmetics sector on account of these attributes, its significant demand from the household cleaning agent, pharmaceutical, textile, and food & beverage sector leads to the popularity of this grade. Additionally, it is used as a cleaning agent in the oil & gas refining sector on account of its ability to offer environmental protection and its appreciable metal ion complexing attributes.
We have studied the below-mentioned grades:
- 99% (Largest and Fastest-Growing Category)
- 70%
- 30%
- Others
Regional Analysis
The APAC glycolic acid market is the largest, with 45% share in 2024, and it is expected to experience the highest growth rate, of 7.6%, during the forecast period. This can be attributed to the surging requirement for cosmetic products, such as anti-aging, toners, and moisturizers, and the surging focus of cosmetics players to increase their portfolio of glycolic acid-based products in the region. The demand for personal care products is rising because of the increase in the working woman population, a shift in their lifestyle, and a surge in awareness of their physical appearance. Moreover, working women perceive skincare products to be a necessity providing them confidence in their appearance. Women between the ages of 20 and 40 years have the highest percentage of cosmetic usage in the region.
Major players, including L’Oréal and Unilever who constantly investing in technologies to build advanced skincare products and improve customer experience, offer products that contain glycolic acid, such as L'Oréal Paris Revitalift Glycolic Acid Peeling Toner, L'Oreal Revitalift Glycolic Acid, Classic Anti-Wrinkle Eye Cream, and others. Furthermore, L'Oréal S.A. has subscribed to google cloud's vertex AI platform to speed up the production of its AI models for cosmetic services.
The demand for glycol-based personal care products is expected to skyrocket, as government regulations tighten in the region. Cosmetics are governed by different regulatory systems in different nations and areas. Almost all major regional countries regulate the safety of all cosmetics.
Glycolic acid is derived from natural products, such as fruits and sugarcane, and this organic product helps in meeting the cosmetic guidelines. Moreover, the demand for glycol-based cosmetic products is rising due to social media marketing, which allows to personally interact with existing and potential customers, build brand awareness, and directly target customers with marketing campaigns.
In APAC, China is the largest consumer of glycolic acid, and the country market is expected to continue leading the regional market over this decade. China is known as the world’s second-largest beauty and personal care products market after the U.S. Moreover, people’s inclination toward protecting their skin from pollution and dirt, and thus, they are investing in good skincare products and hair products, in to order look presentable during corporate meetings.
The geographical breakdown of the market is as follows:
- North America
- U.S. (Larger and Faster-Growing Country Market)
- Canada
- Europe
- Germany (Largest and Fastest-Growing Country Market)
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific (APAC) (Largest and Fastest-Growing Regional Market)
- China (Largest Country Market)
- Japan
- India (Fastest-Growing Country Market)
- Australia
- South Korea
- Rest of APAC
- Latin America (LATAM)
- Brazil (Largest and Fastest-Growing Country Market)
- Mexico
- Rest of LATAM
- Middle East and Africa (MEA)
- Saudi Arabia (Largest and Fastest-Growing Country Market)
- South Africa
- U.A.E.
- Rest of MEA
Market Scope
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