According to the latest report by IMARC Group, titled, “Glycolic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global glycolic acid market size reached US$ 425.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 642.8 Million by 2028, exhibiting a growth rate (CAGR) of 7.15% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Industry Definition and Application:

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 (FB) 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 (RD) 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 2023-2028 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.

• Avid Organics
• CABB Group GmbH
• China Petrochemical Corporation
• CrossChem Limited
• Mehul Dye Chem Industries
• Merck KGaA
• Parchem fine and specialty chemicals
• The Chemours Company
• Tokyo Chemical Industry Co. Ltd
• Water Chemical Co. Ltd
• Zhonglan Industry Co. Ltd

The report has segmented the market on the basis on source, purity level and application.

Breakup by Source:

• Synthetic
• Natural

Breakup by Purity Level:

• 99% Purity
• 70% Purity
• 60% Purity
• 30% Purity
• Others

Breakup by Application:

• Personal Care and Cosmetics
• Household
• Textile
• Food Processing
• Pharmaceuticals
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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