Global Glycolic Acid Market: An Overview
The global glycolic acid market report is an-depth study of various trends, drivers, and restraints during 2018-2028. The glycolic acid market is expected to witness robust growth during this period as the purity of the product continues to drive its application in cosmetics. The rising self-care awareness, growing demand for new ingredients, and its agent properties as an keratolytic will drive growth. Moreover, its variety with a concentration of 10% will likely remain at the forefront of growth as day-to-day use of cosmetics rises in new regions like Asia Pacific. The increasing concerns about skincare, and high consumption of glycolic acid conventionally, will also remain key to its growth in the near future.
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Global Glycolic Acid Market: Notable Developments
A new study published in the Science Advances journal in Nov 2019 promises possible venues for glycolic acid to be used in contraceptives. The study successfully demonstrated in rats that with the help of a micro-needle patch, glycolic acid can develop a reversible, contraceptive patch that is simple-to administer. The patch also did not result in any biohazardous sharp waste. The patch can be a boon for several women, who have waited for a real-alternative to today’s contraceptives. In 2011, over 45% pregnancies were unplanned. Additionally, public expenditure for these pregnancies remained as high as $21 billion in 2010.
According to a recent article in Forbes magazine, the spending on influencer-driven social media has skyrocketed in 2019. The total spending stood at $2 billion in 2017, and has gone up to $8 billion in 2019. A company like Estee Lauder has revealed that the company has spent close to 75% of its budget on social media influencers. The growth of social media influencing is a major trend that will drive growth of the glycolic acid market. Glycolic acid, and similar natural products are rising in demand. Moreover, lowering costs of marketing are also driving tremendous growth for the players in the glycolic acid market as new players continue to drive innovation, and create new brands in cosmetics.
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Global Glycolic Acid Market: Drivers and Restraints
Glycolic acid is often known as the holy-grail of exfoliation. It plays an important role in removing the outermost layer of dead cells from the complexion, to bring fresh, and brighter skin. Additionally, due to rising concerns about skin care, aging, and wrinkles, the glycolic acid market. Moreover, the chemical is considered safe even for sensitive skins, and goes deep into the body as compared to several other alternatives. The growing demand for glycolic acid in emerging regions, and new avenues of growth for skin treatments are expected to drive robust growth for the glycolic acid market in the near future.
Global Glycolic Acid Market: Regional Outlook
The global glycolic acid market report will cover all key regions of the globe including North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. The growth of cosmetics in North America, thanks to emergence of various social media celebrities, rising demand for natural products, and relatively lower costs of social media marketing are expected to create new avenues for growth for the glycolic acid market in the near future. The changing lifestyle trends in Asia Pacific, rising disposable incomes, and growth of the new cosmetic brands will drive growth of the glycolic acid market in the near future.
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