Alpha Hydroxy Acid (AHA) Market: Information by Source (Synthetic, Natural), Purity Level, Grade, Application and Region - Forecast till 2024

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.

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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.

Rising consumer trends towards skin peeling owing to its long duration benefit has positively enhanced alpha hydroxy acid demand in dermal applications. Skin exfoliation accompanied by effective actions against corrosiveness and toxicities in skin have market penetration.

Cosmetic applications generated revenue over USD 1 billion in 2016. Shifting lifestyle and consumer preference for high quality and effective skin products has positively driven industry growth in this segment.

Hair care application will surpass 100 kilo tons demand by 2024. Reducing hair fall, easy detangling and defensing hair against styling tools are the key factors likely to foster alpha hydroxy industry growth. Increasing necessity for effective dirt and pollutant cleaning without damaging hair moisture content will enhance demand.

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.

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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 share is moderately fragmented due to large presence of numerous local and global companies. Key industry players include Airedale Chemical Company, Dow Chemicals, Dupont, Crosschem, Ava Chemicals, H Plus Limited Parchem and Mehul Dye Chem Industries.

L'Oreal Paris, Nivea, Gillette, Clinique, Garnier, Chanel, and Nieutrogena are among the key customers in the industry. New product development through expansion, collaboration, and acquisitions are key strategies to maximize profitability.

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