Alpha Hydroxy Acid (AHA) Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018-2022 and Forecast 2023-2029

Description

Alpha Hydroxy Acid (AHA) Market size was valued at USD 1,438.9 million in 2022 and is expected to grow at a CAGR of 9.1% from 2022 to 2028. Alpha hydroxy acid (AHA’s) are a class of plant and animal-derived acids used in manufacturing of a variety kinds of skincare products. The AHA based products help to eliminate debris, impurities, and particles from hair while preserving moisture, making them perfect for use in shampoos. The demand for AHA in the hair care industry will rise because of consumers growing interest in self-care and grooming activities. Industry expansion is anticipated to be fueled by the ability to prevent hair fall by lubricating hair, making detangling easier, and shielding it from styling equipment. Further Demand for AHA products is driven largely by the reduction of early ageing symptoms, increased production of elastin and collagen, and improved blood circulation. Moreover, Increasing pollution levels, combined with bad food habits, cause skin problems, which are predicted to increase cosmetic use, providing a good outlook for market expansion. Alpha hydroxy acid demand has increased globally because of global warming, which resulted in hike for skincare goods such sunscreen lotions, creams, serums, and others. The alpha hydroxy acid market size is expected to increase due to technological advancements in cosmetic goods, as well as sophisticated exfoliative and toxic measures. Inn addition, due to growing consumer demand for natural cosmetics over those made with chemicals. The market for hydroxy acids is significantly fueled by this trend. The COVID-19 pandemic outbreak is attributed with accelerating the growth of e-commerce. Beauty enthusiasts are switching online, and many of them have decided to continue doing so after stores reopen.  Purely digital platforms and D2C products have seen a rise in popularity and sales. Additionally, the outbreak has had a favourable effect for the packaging sector. Food and beverage applications had a significant increase in demand during the pandemic’s outbreak to maintain safety and hygienic conditions; as a result, the market will expand over the projected period. In the near future, the global Alpha Hydroxy Acid (AHA) Industry may offer profitable growth prospects due to rising R&D activity among market participants.

Critical Developments in Alpha Hydroxy Acid (AHA) Market

In March 2021, Corbion announced the launch of a multi-faceted initiative to increase its capacity for production of lactic acid.