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Mandelic Acid Market Growth by Key Players: BASF, Changzhou Qidi Chemical Co., Ltd., Sinoway Industrial Co., Ltd., Shanghai Worldyang Chemical Co., Lim, Shanghai Ruizheng Chemical Technology, and Shaanxi Yuantai Biological Technology
Global Market Insights, Inc.
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North America mandelic acid market demand is likely to observe notable growth owing to increase in trend for anti-aging cream accompanied by EPA approval to use it as an ingredient in drugs and creams. Increase in pharmaceutical spending and preference for nutraceutical products should favor Europe mandelic acid market share. Germany medical drugs expenditure is noted to be highest in region. As per industry estimates the country had pharmaceutical turnover of over USD 49 billion in 2014.
Mandelic Acid Market size will continue to see strong growth with growing application potential across the healthcare and personal care industry.
Mandelic acid, an aromatic alpha hydroxy acid, extracted from bitter almonds is an essential ingredient in cosmetic and medicine industry. It is used as an intermediate & antimicrobial in personal care and pharmaceutical products.
Rise in consumer purchasing power accompanied by increase in application scope pertaining to adult acne will stimulate mandelic acid market in cosmetic applications. Global cosmetic industry spending was over USD 465 billion in 2015 and is predicted to surpass USD 670 billion by 2023, increase in women participation at work accompanied by growth in men preference for creams and lotion has driven product demand.
As a cosmetic ingredient, it possesses various advantages, making it suitable to meet consumer needs which includes exfoliating dead skin, repair sun damaged skin, treats freckles, and acts an anti-aging formula. The product has anti-bacterial properties which makes them ideal for pharmacological uses. As it can be used with methenamine in order to produce mandelamine, which is used to treat chronic urinary tract infections (UTI). Moreover, structurally it acts as an antibiotics used for bacterial infections treatment.
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Mandelic acid market share is fairly fragmented in nature with presence of numerous industry participants and local manufacturers. Japan is among the major country producing this ingredient. Industry players include BASF, Changzhou Qidi Chemical Co., Ltd., Sinoway Industrial Co., Ltd., Shanghai Worldyang Chemical Co., Lim, Shanghai Ruizheng Chemical Technology, and Shaanxi Yuantai Biological Technology.
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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.
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