Glycolic Acid Market Share, Size, Trends, Industry Analysis Report, By Grade (Cosmetic Grade, Technical Grade); By Purity (99%, 70%, 30%, Others); By Application; By Region; Segment Forecast, 2022 - 2030
- Published Date:Sep-2022
- Pages: 112
- Format: PDF
- Report ID: PM2615
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The global glycolic acid market is valued at USD 309.31 million in 2021 and is expected to grow at a CAGR of 6.5% in the forecast period. Glycolic acid is naturally found in sugarcane, beets, and some other fruits. Glycolic acid belongs to Alpha Hydroxy Acids (AHAs) and is odorless and colorless in its pure form. Glycolic acid is widely used in cosmetics and skincare products. Some other applications of glycolic acid include pharmaceutical, food processing, textile, and household cleaning agents, among others.
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It is increasingly being used in skin care products and cosmetics owing to its exfoliative, humectant, antibacterial, and anti-aging properties. It slows down the processes responsible for skin aging.
It is also capable of decreasing sun damage to the skin while enhancing collagen and hyaluronic acid in the skin for improved skin elasticity and structure. As an exfoliation agent, it eliminates the outermost layer of skin cells and oil. Glycolic acid is included in several topical products for the treatment of skin conditions and for enhancing skin texture and appearance.
They are widely used in household cleaners and Institutional & industrial cleaners. It finds application in equipment cleaners, oil and gas well finishing and rejuvenation, and flow assurance applications. It offers low toxicity and corrosiveness. It offers complete solubility in water and superior instability.
The demand for the industry has increased over the years owing to growth in the cleaning industry and greater textile production. Greater consciousness among consumers regarding the use of safe products and a rise in investment in R&D aimed at the development of nontoxic personal care and pharmaceutical products has boosted the demand across the globe.
The COVID-19 outbreak has influenced the growth of the glycolic acid market. The global market experienced a disrupted supply chain and limited manufacturing activities. Implementation of lockdown across the globe coupled with limitations associated with travel and transportation hampered the industry growth during the pandemic. The closure of retail stores and decreased demand for cosmetics during the COVID-19 outbreak significantly affected the industry.
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Industry Dynamics
Growth Drivers
Growth in population, rapid urbanization in emerging economies, and an increase in awareness among consumers regarding the benefits of skincare and wellness products drive the growth of the global market. The use of glycolic acid in a wide range of applications such as personal care products and cosmetics, cleaning agents, food flavoring & preservation, and others accelerates the growth of the industry.
The rising focus of consumers on personal care and hygiene has boosted the demand for glycolic acid. Increasing inclination of consumers toward beauty trends, skin care, and wellness, rising disposable income, and improving lifestyles has increased the demand for personal care and wellness products, thereby improving the demand for the industry. Greater demand from developing nations, the introduction of innovative products in the market, and growth of e-commerce platforms are further contributed to the growth of the industry.
Report Segmentation
The market is primarily segmented based on grade, purity, application, and region.
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By Grade |
By Purity |
By Application |
By Region |
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The Cosmetic Grade Segment is Expected to Experience Significant Growth During the Forecast Period
Based on grade, the global market has been segmented into cosmetic grade and technical grade. The cosmetic grade segment is expected to experience significant growth during the forecast period. It belongs to alpha-hydroxy acid, which is increasingly being used for the development of skincare products. A wide range of products, such as creams and lotions containing glycolic acid, are being developed for skin benefits like reduced fine lines, aging spots, and irregular pigmentation.
The rise in beauty consciousness among users and inclination toward the use of nontoxic products drives the growth of this segment. Greater demand for sustainable, organic, and luxurious skincare products would support the growth of this segment during the forecast period.
99% Segment Expected to Account for a Significant Share
On the basis of purity, the global glycolic acid has been segmented into 99%, 70%, 30%, and others. The demand for glycolic acid with 99% purity is high owing to greater use in cosmetics products. Its 99% purity in cosmetics products offers several skin benefits.
It supports exfoliation and collagen production resulting in a reduction of damaged skin, fine lines & wrinkles, and improvement in skin tone. Growth in population, increase in disposable income, and adoption of skincare and wellness trends supports the growth of the global cosmetics industry, thereby increasing the demand for the industry.
Personal Care and Cosmetics Segment Expected to Account for a Significant Share
Based on application, the global market has been segmented into personal care & cosmetics, household, pharmaceutical, textile, industrial, and others. The personal care and cosmetics segment dominated the global market in 2021.
It is used in a wide range of products such as moisturizers, cleansers, face masks, toners, exfoliants, acne treatments, and serums, among others. It increases the speed of cell turnover while enabling the shedding of dead skin cells. It also accelerates collagen formation, resulting in a firm and elastic skin.
Strengthening the beauty, wellness, and cosmetics sector across the world supports the growth of this segment. Greater awareness among consumers associated with skincare products, rising inclination toward western trends, and the launch of innovative marketing strategies by leading companies in the market have boosted the adoption of glycolic acid in this segment.
Asia Pacific Dominated the Global Market in 2021
Asia Pacific accounted for a significant share of the global glycolic acid market. The rise in health and personal care awareness among consumers, coupled with an increase in purchasing powers of consumers in the developing countries in the region, boosts the adoption of the industry. Greater application of glycolic acid in cleaning products, pharmaceutical, and textile industries has strengthened the market in the Asia Pacific.
Improving the lifestyle of consumers and rising adoption of beauty trends further contribute to the growth of the glycolic acid market. Industrial growth, the presence of prominent industry players in the region, and significant investments in research and development would offer growth opportunities during the forecast period.
Competitive Insight
Some major players operating in the global glycolic acid market include Avid Organics, Cabb Group GmbH, China Petrochemical Corporation, Crosschem Lp, Hebei Chengxin Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., Jiaxing Jlight Chemicals Co., Ltd., Phibro Animal Health Corp., Saanvi Corp, Shandong xinhua pharmaceutical co. Ltd., The Chemours Company, Velocity Chemicals Ltd., Water Chemical Co., Ltd, Xinji City Taida Sinopec Co., Ltd., and Zhonglan Industry Co., Ltd.
The prominent players operating in the global glycolic acid market are investing in R&D and technological advancements to launch new innovative products in the industry. Partnerships and collaborations enable these players to expand their product portfolio and enter new emerging markets.
Recent Developments
- In November 2021, The Chemours Company introduced its new products, Glyclean D. It is a broad spectrum disinfectant and cleaner. It is developed using a 70% concentration of glycolic acid, and is biodegradable and environmentally friendly. It is registered with the U.S. Environmental Protection Agency for addressing safety threats caused by the SARS-CoV-2 virus along with viruses and bacteria.
Glycolic acid Market Report Scope
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Report Attributes |
Details |
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The market size value in 2021 |
USD 309.31 million |
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Revenue forecast in 2030 |
USD 542.35 million |
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CAGR |
6.5% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
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Segments covered |
By Grade, By Purity, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Avid Organics, Cabb Group GmbH, China Petrochemical Corporation, Crosschem Lp, Hebei Chengxin Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., Jiaxing Jlight Chemicals Co., Ltd., Phibro Animal Health Corp., Saanvi Corp, Shandong xinhua pharmaceutical co. Ltd., The Chemours Company, Velocity Chemicals Ltd., Water Chemical Co., Ltd, Xinji City Taida Sinopec Co., Ltd., and Zhonglan Industry Co., Ltd. |
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