Global Alpha Hydroxy Acid Market Size by Key Players: Crosschem, Dupont, Mehul Dye Chem Industries, Ava Chemicals, Dow, Parchem, H Plus Limited and Airedale Chemical Company
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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.
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.
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Alpha Hydroxy Acid Market, By Product
o Glycolic acid
o Lactic acid
o Citric acid
o Others (Malic acid, tartaric acid)
Alpha Hydroxy Acid Market, By Application
o Skin care
o Hair care
o Make up
o Others (Hygiene products)
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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.
North America alpha hydroxy acid market will observe over 12% CAGR up to 2024. Changing consumer preference for effective and sustainable beauty products will propel alpha hydroxy acid market growth. Presence of key industry manufacturers along with increasing R&D on product innovation will support 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.
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