Alpha hydroxy acid is a carboxylic acid substituted with a hydroxy group on the alpha carbon. It is widely used in skin and hair care products. There are different methods of producing it; of these, the most common commercial method is to synthesize alpha hydroxy acid from alpha hydroxy nitriles as the starting material and using bacteria as the catalyst. These bacteria belong to the genus Bacillus, Pseudomonas, Escherichia, etc. Alpha hydroxy acid is known to reduce skin wrinkling, repair sun damage, increase skin firmness, soften skin, and even the skin tone. Alpha hydroxy acid exfoliates the layers of skin by reducing inter-corneocyte cohesion and interfering with intercellular ionic bonding. However, exfoliation caused by alpha hydroxy acid at higher concentrations adversely impacts the barrier function of the skin. Increase in transepidermal water loss (TEWL) occurs when the skin barrier function is impaired. This deteriorates the texture of the skin.
The global alpha hydroxy acid market can be segmented into type of product, application, and region. In terms of product, the market can be divided into lactic acid, glycolic acid, citric acid, and others. Lactic acid is alpha hydroxy propionic acid, while glycolic acid is alpha hydroxy acetic acid. These are the most commonly used ones in the personal care industry. Lactic acid penetrates the skin during which the dead and dry skin is whisked. This improves the skin tone and texture, making the skin look younger by reducing wrinkles. Glycolic acid is majorly used to reduce acne, brown spots, and hyperpigmentation. It works on the surface and lowers dermal layer, thereby reducing wrinkles at their source and cleaning the acne in the sebaceous follicle. It acts on the acne pustules by uprooting them and starts healing the skin. Citric acid also improves the skin texture. Among the four product types, glycolic acid accounted for major share in 2016. In terms of application, the skin care segment constituted significant share in 2016. The personal care industry is also witnessing higher focus on organic products. This trend is expected to continue during the forecast period.
Regionally, North America dominates the market in terms of demand for alpha hydroxy acid, due to the high focus on skin health and presence of major personal care product manufacturing companies in the region. North America is followed by Europe, Asia Pacific, Middle East & Africa, and Latin America. Research on active ingredients in the skin care industry in Europe is boosting the demand for alpha hydroxyl acid. The market in Asia Pacific is anticipated to expand at a fast-paced CAGR during the forecast period led by the increase in focus on skin care due to pollution, especially after the smog case in China. Furthermore, growth in aging population in Japan is a driving the demand for alpha hydroxyl acid, which helps reduce wrinkles. Global demand drivers include increasing customer spending on beauty and personal care products.
Major companies operating in the global market for alpha hydroxyl acid include Croda International Plc, Corbion, Henan Jindan Lactic Acid Technology Co.,Ltd, Cargill, Incorporated., The Chemours Company, Zhonglan Industry Co.,Ltd., and CrossChem.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.