TAGS: Natural/ Organic
According to the analysis of Fortune Business Insights, the global glycolic acid market size is expected to reach USD 820.3 million by 2027. The growing demand for this acid for cleaning purposes in the oil industry will foster healthy growth of the market. The market size stood USD 468.2 million in 2019 and is expected to exhibit a CAGR of 7.3 percent between 2020 to 2027.
Glycolic Renewal Cleanser to Foster Growth
SkinCeuticals, one of the leaders in advanced
skincare technology announced the launch of Glycolic Renewal Cleanser. The new product is made solely to address the problem of dullness and texture concerns among women.
The use of hydroxyacetic acid in cosmetic and personal care products can have a hazardous effect on the skin. For instance, excessive use can lead to skin irritation, itching, swelling, and inflammation. Exposure to chemicals can make the skin more sensitive to UV radiation.
The environmental effects caused by phosgene gas during the manufacturing of hydroacoustic acid can further be an impeding factor for the growth of the market. Likewise, Stringent environmental regulations imposed by the governments will further restrict the production of hydroxyacetic acid, thus hampering the market.
North America: Leading Region
North America is predicted to rise tremendously during the forecast period owing to the growing consumption of hydroxyacetic acid in the US. The increasing technological advancements in the cosmetic industry will enable speedy expansion of the market in the region.
The personal care and cosmetics segment is expected to account for the largest share during the forecast period owing to the use of hydroxyacetic acid in the production of
anti-aging creams, lipsticks, shampoo, hair treatment sprays, moisturizers, cleanser, scrub, fragrance, and body wash products.
Source: Fortune Business Insights