The amazing anti-aging chemical glycolic acid seems to do everything. It works wonders to exfoliate the face, diminish fine wrinkles, prevent acne, lighten dark spots, thicken the skin, and level out texture of the skin. In 2021, the global glycolic acid market was worth around $309.3 million value, which is predicted to touch $604.4 million by 2030, advancing at a 7.7% CAGR from 2021 to 2030.
Glycolic acid is a key component in skin care products but is also widely utilized in the electronics, oil and gas, and dyeing and tanning sectors. Boiler cleaners, concrete removers, and dairy farm tank cleaners have all made use of it. This is due to its primary traits, which include its small size, affinity for chelating calcium, powerful acidic property, and natural biodegradability.
The glycolic acid market in APAC is expected to increase at an average annual rate of 8.1% in the coming years. This can be due to the region's rapidly increasing need for cosmetics. The growing number of working women, a change in their lifestyle, and a rise in self-awareness are all contributing to an increase in the need for personal care products. Additionally, professional women view skincare products as a need that gives them self-assurance in their looks. The majority of cosmetic users are women between the ages of 20 and 40.
According to the data, in the past, the personal care & cosmetics segment held the biggest share in the glycolic acid market, at 58.2% in the past years. This is because of the various application of glycolic acid in cosmetics and skincare products such as moisturizers, anti-aging creams, toners, wrinkle-removal treatments, and other hair care items.
Additionally, the need for skincare products is boosting the requirement for glycolic acid as a result of the rising disposable income, growing awareness of personal hygiene, and increasing desire among people to improve their appearance.
