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According to the latest report by IMARC Group, titled, “Glycolic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, Offers a comprehensive analysis of the industry, which comprises insights on the global glycolic acid market size. The global glycolic acid market reached a value of US$ 398 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 599 Million by 2027, exhibiting a CAGR of 7.28% during 2022-2027.
Glycolic acid (C2H4O3) stands for an alpha hydroxy acid (AHA) that is derived from various plants, including grapes, sugar beets, pineapple, etc. It is colorless, odorless, soluble in water, non-volatile, etc. Glycolic acid is commonly utilized as an exfoliant in skincare products, such as cleansers, moisturizers, serums, face masks, etc., to prevent acne, fade hyperpigmentation, remove dead skin cells, etc. It is used in leather tanning, textile and metal processing, fabric dyeing, printing, etc. Apart from this, it also finds applications as an etching agent in oil well operations.
Glycolic Acid Market Trends:
The increasing influence of social media, inflating income levels, and growing focus on physical appearances are driving the demand for skin care products, which is primarily augmenting the glycolic acid market. Moreover, glycolic acid is also utilized in the food and beverage (F&B) industry as a preservative, flavoring agent, and adhesive for packaging products. In addition to this, increasing environmental concerns are encouraging the manufacturing of economic and biodegradable cleaning products, which utilize glycolic acid. Additionally, several key manufacturers are investing in research and development (R&D) activities to improve product efficacy and effectiveness. Furthermore, the rising usage of glycolic acid in the production of biomedical devices, such as staples, sutures, implants, meshes, etc., is expected to fuel the global glycolic acid market in the coming years.
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Glycolic Acid Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis on source, purity level and application.
Breakup by Source:
Breakup by Purity Level:
Breakup by Application:
Breakup by Region:
Key highlights of the report:
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