The global glycolic acid market size is expected to reach USD 565.2 million by 2030, registering a CAGR of 9.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing use of the product in various applications including personal care and household is expected to drive demand. The product is extensively used in the manufacturing of cleaning agent formulations as well as skin care creams, thus promoting its growth.
The personal care segment dominated the of glycolic acid market by capturing 61.1% of market share in 2023 driven by increasing use of the product in cosmeceutical preparations such as skin creams, lotions for treatment of blackheads, acne face lines and the treatment of oiliness. In addition, the demand for glycolic acid based skin peels for face cleansing is expected to bolster the demand over the forecast period.
Growing use of the product in shampoo formulations for treatment of dandruff and hair conditioning is expected to augment demand over the projected period. However, availability of alternate products such as salicylic acid coupled with stringent regulations by bodies such as Food and Drug Administration (FDA) limiting the concentration of glycolic acid in personal care products is expected to restrain growth.
Gather more insights about the market drivers, restrains and growth of the Global Glycolic Acid Market
Glycolic Acid Market Report Highlights
· The personal care segment dominated the glycolic acid market by capturing 61.1% of market share in 2023.
· Asia Pacific dominated the market and accounted for the largest revenue share of 35.4% in 2023. It is expected to grow at a CAGR of 10.2% and retain its dominance during the forecast period.
· Europe is projected to expand at a CAGR of 9.4% during 2024 to 2030 due to a rapidly evolving skin and hair care industry.
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· Multiblock Copolymers Market: The global multiblock copolymers market size was estimated at USD 264.98 million in 2023 and projected to grow at a CAGR of 12.77% from 2024 to 2030.
· Plantable Packaging Market: The global plantable packaging market size was estimated at USD 129.23 million in 2023 and is projected to grow at a CAGR of 12.1% from 2024 to 2030.
Glycolic Acid Market Segmentation
Grand View Research has segmented global glycolic acid market report based on application and region:
Glycolic Acid Application Outlook (Volume, tons; Revenue, USD Million, 2020 - 2030)
· Personal Care
· Household
· Industrial
· Others
Glycolic Acid Regional Outlook (Volume, tons; Revenue, USD Million, 2020 - 2030)
· North America
o U.S.
o Canada
o Mexico
· Europe
o UK
o Germany
o France
o Italy
o Spain
· Asia Pacific
o Japan
o China
o India
o Southeast Asia
o South Korea
· Central and South America
o Brazil
o Argentina
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
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