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Redding, California - November 15, 2024

Glycolic Acid Market to Reach $754.8 Billion by 2031

Glycolic Acid Market Size, Share, Forecast, & Trends Analysis by Purity (99%, 70%, 60%, 30%), Source (Synthetic, Natural), Grade (Industrial, Pharma, Cosmetic Grade), Application (Personal Care & Cosmetics, Household, Leather) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Glycolic Acid Market—Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication, the glycolic acid market is expected to reach $754.8 Billion by 2031, at a CAGR of 7.9% from 2024 to 2031.

The growth of the glycolic acid market is fueled by rising demand for glycolic acid from skincare & cosmetics manufacturers, growing adoption of glycolic acid in industrial and household cleaning products and wide application areas, and a related rise in the utilization of glycolic acid in leather & textile, food & beverage, medical, electronic and other industrial applications. However, the rising incidence of skin problems associated with the use of glycolic acid-based cosmetics and stringent regulations and environmental concerns hinder the market growth.

Furthermore, increasing application areas in the food & beverage industry and significant opportunities from emerging economies are expected to create potential growth opportunities for market stakeholders.

Key Players:

The glycolic acid market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the glycolic acid market are CrossChem Limited (U.K.), PureTech Scientific, LLC (U.S.), CABB Group GmbH (Germany), Fengchen Group Co., Ltd (China), Nikko Chemicals (Japan), Nikko Chemicals (Japan), Mehul Dye Chem Industries (India), Junsei Chemical Co., Ltd. (Japan), Kishida Chemical Co., Ltd. (Japan), and Avid Organics Pvt. Ltd. (India).

The glycolic acid market is segmented based on purity, source, grade, and application industry. The report also evaluates industry competitors and analyzes the market at regional and country levels.

Among the purities studied in this report, the glycolic acid 99% segment is anticipated to hold the dominant position in 2024. This segment's substantial market share is primarily driven by its wide range of applications, growing demand for anti-aging and skin care products, changing consumer preferences towards clean and natural beauty products, and versatility.

Among the sources studied in this report, the synthetic segment is anticipated to hold the dominant position in 2024. This segment’s dominant market share is largely attributed to the cost-efficiency of producing glycolic acid from synthetic sources, which allows for high purity and consistent quality. Additionally, to accommodate the increasing demand for glycolic acid, manufacturers are able to rapidly scale up synthetic production.

Among the grades studied in this report, the cosmetic grade segment is anticipated to hold the dominant position in the market in 2024. This segment’s significant market share is primarily driven by the rising demand for skincare products, particularly as more consumers seek anti-aging and exfoliating solutions. Glycolic acid’s well-established reputation as an effective anti-aging ingredient, combined with the growing trend toward clean beauty, further strengthens its market position.

Among the application industries studied in this report, the personal care & cosmetics segment is anticipated to hold the dominant position in the market in 2024. This segment’s substantial market share is primarily driven by the widespread use of glycolic acid for effective skin exfoliation and the growing consumer focus on anti-aging solutions. Additionally, the increased visibility of glycolic acid skincare products on social media has further fueled demand within the segment.

Among the geographies studied in this report, Asia-Pacific is anticipated to hold the dominant market position in 2024. Asia-Pacific’s substantial market share can be attributed to several key factors, including the growing cosmetics and personal care industry, rising disposable incomes in the region, and expanding local manufacturing capabilities.

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Key Questions Answered in the Report-

What is the value of revenue generated by the sale of glycolic acid products?
At what rate is the demand for the glycolic acid market projected to grow for the next five to seven years?
What is the historical market size and growth rate for the glycolic acid market?
What are the major factors impacting the growth of this market at regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which purity, source, grade, and application industry creates major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the manufacturers operating in the glycolic acid market?
Who are the major players in the glycolic acid market? What are their specific product offerings in this market?
What recent developments have taken place in the glycolic acid market? What impact have these strategic developments created on the market?

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Redding, California - November 15, 2024

Glycolic Acid Market to Reach $754.8 Billion by 2031

Glycolic Acid Market Size, Share, Forecast, & Trends Analysis by Purity (99%, 70%, 60%, 30%), Source (Synthetic, Natural), Grade (Industrial, Pharma, Cosmetic Grade), Application (Personal Care & Cosmetics, Household, Leather) - Global Forecast to 2031

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