Mandelic acid Market Size was valued at USD 0.25 Billion in 2022. The mandelic acid industry is projected to grow from USD 0.28 Billion in 2023 to USD 0.80 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.80% during the forecast period (2023 - 2032). Rising awareness among consumer related to skin treatment and increasing consumer spending on beauty products are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The mandelic acid market is witnessing a surge in demand due to the increasing popularity of skincare products. Mandelic acid, known for its gentle exfoliating properties, is a key ingredient in various skincare formulations. Consumers are increasingly seeking products that address issues like acne, hyperpigmentation, and uneven skin tone, driving the demand for mandelic acid-infused skincare items. This factor drives the market CAGR.
Additionally, a notable trend in the mandelic acid market is the rising preference for natural and organic ingredients in skincare. Mandelic acid, derived from almonds, aligns with this preference, as it is a naturally occurring alpha hydroxy acid. Beauty and skincare brands are incorporating mandelic acid into their formulations to meet the growing consumer demand for clean, plant-based ingredients.
The mandelic acid market is experiencing continuous innovation in cosmetic formulations. Companies are investing in research and development to create advanced skincare products with enhanced efficacy and minimal side effects. Innovations include the incorporation of mandelic acid into multifunctional products, such as serums, toners, and peels, offering consumers a diverse range of options for addressing various skincare concerns. For instance, in 2019, BioAmber Inc. announced partnership with EcoMundo, a sustainability consulting firm, to assess and reduce the environmental impact of its production process. Thus, driving the mandelic acid market revenue.
The mandelic acid market segmentation, based on type includes DL Type, L Type and D Type. The dominating type is DL type. DL Mandelic Acid, or racemic mandelic acid, encompasses both the L and D forms in equal proportions. This type is widely utilized in various applications, including pharmaceuticals and skincare products. Its versatility and balanced composition make DL Mandelic Acid a preferred choice for different industries, leading to its dominance in the market. Simultaneously, the fastest-growing category in the mandelic acid market is L Mandelic Acid. L Mandelic Acid, the pure form of mandelic acid, is increasingly gaining popularity in skincare formulations due to its effectiveness in treating various skin concerns.
Figure1: Mandelic acid Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The mandelic acid market segmentation, based on Application, includes Pharmaceutical, Cosmetics & Personal Care, Textiles & Dye Intermediates and Others. The dominating application is in the Pharmaceutical sector. Mandelic acid finds extensive use in pharmaceuticals, where it serves as an essential ingredient in various medications and formulations. Its antimicrobial and therapeutic properties contribute to its prevalence in the pharmaceutical industry, establishing it as the dominant application category. Concurrently, the fastest-growing category in the mandelic acid market is in Cosmetics & Personal Care. The increasing demand for skincare and beauty products, coupled with the rising awareness of the benefits of mandelic acid in skincare formulations, propels its rapid growth in the cosmetics and personal care segment.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American mandelic acid market area will dominate this market, owing to skincare awareness and demand and presence of cosmetic and pharmaceutical industries will boost market growth in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: MANDELIC ACID MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe mandelic acid market accounts for the second-largest market share due to the consumer awareness and education and innovation in beauty and personal care. Further, the German mandelic acid market held the largest market share, and the UK mandelic acid market was the fastest growing market in the European region
The Asia-Pacific Mandelic acid Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increasing demand for cosmetic ingredients and product innovation and formulation. Moreover, China’s mandelic acid market held the largest market share, and the Indian mandelic acid market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the mandelic acid market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, mandelic acidindustry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the mandelic acid industry to benefit clients and increase the market sector. In recent years, the mandelic acid industry has offered some of the most significant advantages to medicine. Major players in the mandelic acid market, including BASF, Keyuan Biopharm, Wuhan Runder Pharmda Technologoy, Hanhong Chemical, Xiang Rong Chemical, Shengyu Chemical., and others, are attempting to increase market demand by investing in research and development operations.
The Chemours Company is known for its diverse portfolio of chemical products, including fluoroproducts, titanium technologies, chemical solutions, and more. The company operates globally, serving various industries such as automotive, electronics, energy, and consumer products. In November 2021, The Chemours Company launched a new glycolic acid product under the brand name Glyclean D. The new product is used as a disinfectant for various household and institutional cleaning applications.
The CABB Group was established in 2003 through Bridgepoint Capital's acquisition of Clariant's fine chemicals business. CABB is a prominent manufacturer of fine and specialty chemicals, creating a diverse array of chemical intermediates and active ingredients for industries such as agrochemicals, pharmaceuticals, and performance chemicals. The company has a global presence, with production facilities in Europe and Asia. October 2018, CABB Group GmbH invested millions of Euros to increase the storage and production volume of monochloroacetic (MCA) acid & its derivatives at the Knapsack and Gersthofen facility. The expansion will be boosting the company's production of glycolic acid at Gersthofen facility.
January 2019: Skinceuticals launched a new glycolic acid cream, Glycolic 10 Renew Overnight that improves skin glow by 36% while also maintaining tolerability. The cream effectively targets dullness, fine lines, and uneven texture of the skin. It stimulates cell regeneration for enriched tone, texture, and brighter complexion.
July 2019: Hefei TNJ Chemical Industry Co., Ltd expanded its market in Cosmetics materials in Seoul, South Korea.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 0.25 Billion |
| Market Size 2023 | USD 0.28 Billion |
| Market Size2032 | USD 0.80 Billion |
| Compound Annual Growth Rate (CAGR) | 13.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â BASF, Keyuan Biopharm, Wuhan Runder Pharmda Technologoy, Hanhong Chemical, Xiang Rong Chemical, Shengyu Chemical |
| Key Market Opportunities | ·      Rising awareness among consumer related to skin treatment |
| Key Market Dynamics | ·      Increasing consumer spending on beauty products |
Frequently Asked Questions (FAQ) :
The mandelic acid market size was valued at USD 0.25 Billion in 2022.
The global market is projected to grow at a CAGR of 13.80% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are BASF, Keyuan Biopharm, Wuhan Runder Pharmda Technologoy, Hanhong Chemical, Xiang Rong Chemical, Shengyu Chemical.
The DL Mandelic Acid category dominated the market in 2022.
The Pharmaceutical had the largest share in the global market.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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