Dihydroxyacetone Market: Introduction
- Dihydroxyacetone is a ketotriose consisting of acetone bearing hydroxy substituents at positions 1 and 3
- It is used as metabolite, antifungal agent, human metabolite, Saccharomyces cerevisiae metabolite, Escherichia coli metabolite, and mouse metabolite
- It is primarily used as an ingredient in sunless tanning products. It is often derived from plant sources such as sugar beet and sugar cane, and by the fermentation of glycerin.
- Dihydroxyacetone reacts chemically with amino acids in the protein keratin, the major component of the skin surface. Different amino acids react to dihydroxyacetone in different ways, producing different tones of coloration from yellow to brown. The resulting pigments are called melanoidins. These are similar in coloration to melanin, the natural substance in the deeper skin layers, which browns or tans from exposure to UV rays.
Key Drivers and Restraints of Dihydroxyacetone Market
- Demand for dihydroxyacetone is expected to increase at a significant pace during the forecast period due to rise in usage of dihydroxyacetone in various industries such as cosmetics, medical, chemical, and food. Cosmetics is one of the largest application industries of dihydroxyacetone due to its properties such as self-tanning and even tone.
- High cost of dihydroxyacetone is negatively affecting the dihydroxyacetone market
Dihydroxyacetone Market: Application Segment
- Based on application, the dihydroxyacetone market can be divided into cosmetics, chemical, medical, food, and others. The cosmetics segment dominates the dihydroxyacetone market.
- Dihydroxyacetone is the main active ingredient in many sunless tanning skincare preparations. Dihydroxyacetone may be used alone or combined with other tanning components such as erythrulose. It is considered the most effective sun-free tanning additive.
- Dihydroxyacetone is formed by ketogenesis of glycerol. It can affect the sensory quality of the wine with sweet/etherish properties. It can also react with proline to produce a crust-like aroma. Dihydroxyacetone can affect the anti-microbial activity in wine, as it has the ability to bind SO2.
COVID-19 Impact on Global Dihydroxyacetone Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- The outbreak of the COVID-19 pandemic has led to disturbance in the supply chain due to the global lockdown in several countries. Also, the spread of coronavirus caused a fall in demand for chemical intermediates due to uncertainty in the global economy and capital markets. Therefore, many major dihydroxyacetone producing countries experienced significant variation in demand for dihydroxyacetone in application industries such as cosmetics, chemical, and medical due to the pandemic.
Europe to Hold Leading Share of Global Dihydroxyacetone Market
- In terms of region, the dihydroxyacetone market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe is expected to hold major share of the global dihydroxyacetone market, followed by North America and Asia Pacific, during the forecast period
- Sedentary lifestyle and easy availability of and growing awareness about advanced beauty products are driving the market in Europe. Consumers in the region are increasingly adopting preventive and protective measures to avoid chronic skin issues. This is boosting the demand for dihydroxyacetone.
- Europe comprises a large number of working women population. This has led to an increase in spending on beauty and personal care products (including self-tanning products). The region also hosts many global events that promote various types of skin enrichment products. This is augmenting the dihydroxyacetone market in Europe.
Key Manufacturers Operating in Global Dihydroxyacetone Market
The dihydroxyacetone market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the dihydroxyacetone market include:
- Merck KGaA
- Inoue Perfumery
- BOC Sciences
- Jiangyin Healthway
- Hubei Marvel-Bio Medicine
- Changxing Pharmaceutical
- Charkit Chemical
- Santa Cruz Biotechnology
- Penta International
Dihydroxyacetone Market: Research Scope
Dihydroxyacetone Market, by Type
- More than 99%
- Less than 99%
Dihydroxyacetone Market, by Production Process
- Chemical Synthesis
- Microbial Fermentation
Dihydroxyacetone Market, by Application
Global Dihydroxyacetone Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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.