Glycolic Acid Market Research Report - Global Forecast till 2030

Glycolic Acid Market Research Report Information By Purity (Glycolic Acid 99%, Glycolic Acid 70%, Glycolic Acid 30%, and Others), By Application (Personal Care & Cosmetics, Household, Textile, Food Processing, Pharmaceutical, and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

ID: MRFR/CnM/2263-CR | 256 Pages | Published By Priya Nagrale on March 2023         

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Global Glycolic Acid Market Overview


The Glycolic Acid Market Size was valued at USD 0.58 Billion in 2022. The Glycolic Acid market industry is projected to grow from USD 0.60 Billion in 2023 to USD 2.1 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.2% during the forecast period (2023 - 2030). C₂H₄O₃, also known as Hydroacetic acid is used in various applications such as dyeing and tanning agent in the textile industry, flavoring agent & preservative in the food & beverage industry, and the cosmetic industry for the manufacturing of anti-aging products. It is also used in plastics and adhesives manufacturing. The increasing use of hydroxyacetic acid in diverse applications owing to its properties, such as cell recovering and exfoliation, is expected to propel the market growth over the forecast period.


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Glycolic Acid Market Trends




  • Significant Demand for Alpha-hydroxy-acid in Cosmetic Industry to Aid Market Growth.




As per L’Oréal’s statistics, the cosmetics market witnessed a gain of around 5.5% in 2019. Skincare accounted for around 40% of the glycolic acid market share in 2019. With the introduction of the e-commerce business, online companies, expansion of social networks, rise in per capita disposable income, and consumer interest in new, premium, and different products have emerged as prime factors for the overall cosmetics market growth. The rising demand for online shopping for cosmetic products has allowed most manufacturers or producers to establish a wide sales network, which in turn may accelerate the market growth of hydroacoustic acid.


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Additionally, Continuous developments in the cosmetic industry will lead to an upsurge in the market. Glycolic acid is majorly used in the manufacturing of various skincare products such as creams, face masks, and peels, which will drive the demand. Growing consumer awareness, along with a rise in per capita disposable income with an improved standard of living mainly in India, Malaysia, and China, is the key contributing factor to the increasing product demand.


Cosmetic products include face and anti-aging creams, lipsticks, shampoo, hair care treatment sprays, moisturizers, cleansers, scrubs, fragrances, body wash, and others. About 95% of these products contain hydroxyacetic acid as a raw material as it provides benefits to the skin such as removal of dark spots, irregular pigmentation, enlarged pores, and dead skin, and improving overall skin health.


Glycolic Acid Market Segment Insights


Glycolic Acid Purity Insights


The Glycolic Acid market segmentation, based on Purity, includes 99%, 70%, 30%, and others. Amongst these, 99% accounts for the largest market share owing to the increased use of this grade of hydroacoustic acid in cosmetic products. Increasing usage of hydroacoustic acid with 99% purity in households, pharmaceuticals, textile, and food processing industries are the key factors expected to drive market growth.


70% based purity is used in the pharmaceutical industry for the production of polymer for medical sutures and creams. Polymers with timed-release properties are used to manufacture products such as staples, sutures, implants, and meshes.


Glycolic Acid Application Insights


Based on Application, the Glycolic Acid market segmentation includes personal care & cosmetics, household, textile, food processing, pharmaceutical, and others. Amongst these applications, the personal care & cosmetics segment is expected to remain dominant in terms of market revenue and volume during the forecast period. In personal care & cosmetics application, hydroxyacetic acid is mainly used as a key ingredient for making anti-aging creams, lipsticks, shampoos, hair treatment sprays, moisturizers, cleansers, scrubs, fragrances, and body wash products due to improving and healing skin, and anti-aging properties. Increasing demand for these products from the cosmetics industry will, in turn, lead to an increase in the demand for hydroxyacetic acid, further helping the market growth rate.


Figure 2: Glycolic Acid Market, by Purity, 2023 & 2030 (USD Billion)


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Glycolic Acid Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific accounted for the highest market share in terms of revenue and volume in 2019 and is expected to remain the largest throughout the forecast period due to expanding cosmetics and textile industries in China and India. China is a major consumer due to the huge presence of the cosmetic industry to meet the increasing consumer demand. Changing lifestyles and an increasing population with an inclination towards beauty and wellness products will drive the market in the region. This increasing demand for hydroxyacetic acid from the ever-growing cosmetic industry is responsible for the growth of this market.


Figure 3: GLYCOLIC ACID MARKET SHARE BY REGION 2023 (%)


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe is projected to witness significant growth in the market due to high demand from the textile industry. The fashion industry, which is dominant in the region, requires high-quality fabrics to convert them into different outfits. To achieve this, companies are undertaking innovative product development by incorporating advanced technologies, which is expected to foster market growth in the region.


North America is expected to witness significant growth in the market. The pharmaceutical industry in the U.S. is one of the major consumers of hydroxyacetic acid, which is used to make bio-absorbable suture material without any harm. Technological advancement in the medical field is helping in the production of better quality medical instruments, such as absorbable staples, screws, meshes, and stents, that will support market growth.


Glycolic Acid Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the Glycolic Acid market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Glycolic Acid industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Glycolic Acid. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Glycolic Acid industry must offer affordable products.


Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Glycolic Acid industry to benefit customers and expand the market sector. The Glycolic Acid market has recently given medicine some of the most important advantages. Major Glycolic Acid market players, including China Petrochemical Corporation (Sinopec Corp) (China) and The Chemours (U.S.) CABB Group (Germany) Saanvi Corp (India) Water Chemical Co. Ltd. (China) Shandong Xinhua Pharmaceutical Co.Ltd (China) and others are attempting to increase market demand by funding R&D initiatives.


Sinopec (China Petroleum & Chemical Corporation, is a petroleum and petrochemical company. It operates through five segments: Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others. The Exploration and Production segment consists of activities related to exploring and developing, producing, and selling crude oil and natural gas.


Also, CABB is a manufacturer of chemical products. It offers mono-chloroacetic acids, reagents, precursors, base chemicals, individual molecules, and other products. The company caters to agrochemical, food and beverage, textile, pharmaceutical sectors, and more.


Key Companies in the Glycolic Acid market include




  • China Petrochemical Corporation (Sinopec Corp) (China)




  • The Chemours (U.S.)




  • CABB Group (Germany)




  • Saanvi Corp (India)




  • Water Chemical Co. Ltd. (China)




  • Shandong Xinhua Pharmaceutical Co.Ltd (China)




  • Mehul Dye Chem industries (India)




  • Avid Organics (India)




  • Zhonglan Industry Co. Ltd. (China)




  • Eastman Chemical Company (U.S.)




  • Corbion (Netherlands)




  • Crosschem LP (U.S.)




  • Kureha Corporation (Japan)




  • Huizhou Foryou Medical Devices Co., Ltd (China)




  • BMG Incorporated (Japan)




  • Teleflex Inc




Glycolic Acid Industry Developments


Nowadays, companies in the market are focusing on product innovation and acquiring a larger industry share. Recently, Allergan Pharma launched a product in the market by the name SkinMedica which is a glycolic acid-based product, and it has shown commendable results to acquire better shares in the market. Also, the expenditure on R&D has risen which gives an increased scope for the application segment to drive the product demand and the market share in the said forecast period. In October 2018, to increase the storage and production volumes of Monochloroacetic Acid (MCAA) and its derivatives at the knapsack and Gresthofen Facility. CABB Group Gmbh invested millions of euros in the expansion, and it boosted the company’s production of Glycolic Acid at the Gresthofen Facility.


Glycolic Acid Market Segmentation


Glycolic Acid Purity Outlook




  • Glycolic Acid 99%




  • Glycolic Acid 70%




  • Glycolic Acid 30%




  • Others




Glycolic Acid Application Outlook




  • Personal Care & Cosmetics




  • Household




  • Textile




  • Food Processing




  • Pharmaceutical




  • Others




Glycolic Acid Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America







Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 0.58 Billion
Market Size 2023 USD 0.60 Billion
Market Size 2030 USD 2.1 Billion
Compound Annual Growth Rate (CAGR) 8.2% (2023-2030)
Base Year 2023
Market Forecast Period 2023-2030
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Purity, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled China Petrochemical Corporation (Sinopec Corp) (China), The Chemours (U.S.), CABB Group (Germany), Saanvi Corp (India), Water Chemical Co. Ltd. (China), Shandong Xinhua Pharmaceutical Co.Ltd (China), Mehul Dye Chem industries (India), Avid Organics (India), Zhonglan Industry Co. Ltd. (China), Eastman Chemical Company (U.S.), Corbion (Netherlands), Crosschem LP (U.S.), Kureha Corporation (Japan), Huizhou Foryou Medical Devices Co., Ltd (China), BMG Incorporated (Japan), Teleflex Inc (US, Shenzhen Polymtek Biomaterial Co., Ltd (China), Huizhou Foryou Medical Devices Co., Ltd (China)
Key Market Opportunities The application usage by the end-user for personal care, household, and industrial cleaning agent formulation will grow.
Key Market Dynamics The cosmeceutical preparation has been increased for the products.


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Frequently Asked Questions (FAQ) :

The Glycolic Acid market size was valued at USD 0.58 Billion in 2022

The market is projected to grow at a CAGR of 8.2% during the forecast period, 2023-2030

Asia Pacific had the largest share of the Glycolic Acid market

The key players in the market are China Petrochemical Corporation (Sinopec Corp) (China), The Chemours (U.S.), CABB Group (Germany), Saanvi Corp (India), Water Chemical Co. Ltd. (China), Shandong Xinhua Pharmaceutical Co.Ltd (China), Mehul Dye Chem industries (India), Avid Organics (India), Zhonglan Industry Co. Ltd. (China) & others

The 99% categories dominated the market in 2023

Personal care & cosmetics had the largest share in the market for Glycolic Acid