The global mandelic acid market is anticipated to grow at a CAGR of around 13.7% during the forecast period 2021 to 2028 and to reach around US$ 543.0 Mn by 2028.
|Market||Mandelic Acid Market|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Type, By Application, By Industry Vertical, and By Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Runder Pharmda, BIOTEC, Xingtai Science and Technology, Smart Chemicals, BASF, R.L. Chemicals, TNJ, Keyuan Biopharma, Shengyu Chemical, Hanhong Chemicals, BIOTEC, and Xinhetai Science and Technology|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Rising awareness among consumer related to skin treatment, increasing consumer spending on beauty products and increasing demand from pharmaceutical sector in products as antimicrobial are major factors expected to drive the growth of global mandelic acid market. Consumer spending on beauty products is increasing with the changing year. Their approach towards soft facial skin is attracting cosmetic manufacturers in the region. People are exploring new limits to achieve the looks they desire and taking action to improve their appearance with procedures such as plastic surgery and fillers. According to U.S. Census and Simmons National Consumer Survey average American spends $322.88 on skincare per year. The projected lifetime spending of US$15,000 breaks down to nearly 46.5 years of dedicated skincare shopping.
Flourishing pharmaceutical sector in developed and developing countries, increasing investment by major players for development of new drugs and introduction of new products are factors expected to augment the target market growth.
In 2018, The Ordinary, a global skin care product provider launched a new product with mandelic acid. The product is expected to help skin by accelerating cell turnover, which in turn improves the overall texture and tone of skin. The product launch helped the company to enhance the business and increase the revenue share.
In 2016, For Beloved One, a skin care product company launched new product “One Mandelic Acid Renewal Toner”. The product helped consumers deep cleanse the skin, reduce pore size and eliminate acne scars, resulting in a smooth and even finish. The product launch helped the company in enhancing the product portfolio and increases the customer base.
In 2019, Neutrogena, a global skin care product manufacturer launched “Bright Boost Collection”. The new product features other efficacious ingredients such as Mandelic Acid and Glycolic Acid that aid to brighten the skin. The product launch is expected to enhance the business and increase revenue.
Rising demand for mandelic acid from chemical and textile industry is expected to support the growth of target market. Factors such as stringent government regulations and high cost associated to R&D activities are expected to hamper the growth of global mandelic acid market. In addition, fluctuating raw material prices is expected to challenge the growth of target market. However, increasing investment by major players for R&D activities, rising drug demand and new product launches are factors expected to create new opportunities for players operating in the mandelic acid market over the forecast period. In addition, increasing partnership and agreements between public & private players for R&D is expected to support the revenue transaction of target market.
Segment Analysis by Region
The market in Asia Pacific is expected to witness faster growth in the target market due to chancing government regulations. With the high spending capacity among consumers and rising awareness related to skin care is expected to increase demand for facial skin care products. Government of developing countries is focused on strengthening the regional manufacturing capabilities.
Their approach towards providing encouraging business policies and favorable regulations is gaining traction. These efforts are resulting in emergence of mid-size enterprises with innovative solutions. These factors are expected to impact the growth of regional market. Major player’s inclination towards developing countries due to easy availability of raw material and low cost labor. In addition, focus towards strategic partnerships in order to track the untapped market is expected to augment the regional market growth.
The global mandelic acid market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Mandelic Acid Market Segment Analysis, 2020
The global mandelic acid market is segmented into type, application, and end use. The type segment is divided into DL Type, L Type, D Type, and others.
Among type the DL Type segment is expected to account for noticeable revenue share in the global mandelic acid market. The end use segment is bifurcated into chemical & petrochemical, cosmetics, food & beverages, healthcare, and others. Among end use the cosmetics segment is expected to account for significant revenue share in target segment. Players operating in the global mandelic acid market are Runder Pharmda, BIOTEC, Xingtai Science and Technology, Smart Chemicals, BASF, R.L. Chemicals, TNJ, Keyuan Biopharma, Shengyu Chemical, Hanhong Chemicals, BIOTEC, and Xinhetai Science and Technology.
Market By Type
Market By Application
Market By Industry Vertical
Chemical & Petrochemical
Food & Beverages
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
The global mandelic acid market in 2028 is expected to be above US$ 543.0 Mn.
The CAGR of the global mandelic acid market from 2021-2028 is above 13.7%.
Rising awareness among consumer related to skin treatment, increasing consumer spending on beauty products and increasing demand from pharmaceutical sector in products as antimicrobial are major factors expected to drive the growth of global mandelic acid market.
In type the L type segment is growing at faster pace.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Runder Pharmda, BIOTEC, Xinhetai Science and Technology, Smart Chemicals, and BASF.
The North America is expected to account for major revenue share in the global market.