Polyhydroxy Acid Market: Introduction
- Polyhydroxy acid is a chemical exfoliant that works to buff away dead skin cells and leave skin smoother and brighter. Polyhydroxy acid is a new generation of Alphahydroxy Acids (AHAs).
- Polyhydroxy acid and polyhydroxy bionic acids (PHBAs) provide effects similar to alphahydroxy acids, but with less irritation responses. It is suitable for usage on sensitive skin, rosacea, and after cosmetic procedures. It also provides additional antioxidant/chelation, barrier strengthening, and moisturizing effects.
- Polyhydroxy acid, such as lactobionic acid and gluconolactone, is carboxylic acid with two or more hydroxyl groups attached to carbon atoms or an alicyclic chain
- Despite its effectiveness, polyhydroxy acid is known as the gentler alternative to AHAs and BHAs
Key Drivers and Restraints of Polyhydroxy Acid Market
- Demand for polyhydroxy acid is expected to increase at a significant pace during the forecast period due to rise in usage of the acid in the cosmetics industry. Polyhydroxy acid provides additional humectant and moisturization properties compared to AHAs; and can enhance stratum corneum barrier function. Thus, it helps increase the skin’s resistance to chemical challenge. Polyhydroxy acid is compatible with clinically sensitive skin, including rosacea and atopic dermatitis, and can be used after cosmetic procedures. It provides anti-aging effects to skin.
- High cost of polyhydroxy acid is negatively affecting the polyhydroxy acid market
Polyhydroxy Acid Market: Application Segment
- Based on application, the polyhydroxy acid market can be divided into exfoliator, antioxidant, moisturizer, and cleanser
- The exfoliator segment is expected to dominate the market in the next few years
- Polyhydroxy acid is a gentle chemical exfoliant. It exfoliates dead skin cells from the surface, thus helping skin to be smoother and more even. It has a large molecule size. It exfoliates at surface level and does not penetrate the skin too deeply.
COVID-19 Impact on Global Polyhydroxy Acid 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. The spread of coronavirus has led to a decline in demand for chemical intermediates due to uncertainty in the global economy and capital markets.
- The COVID-19 pandemic has had a devastating impact on the beauty and cosmetics industry. Store closures due to the strict lockdown measures resulted in dire consequences, with sales decreasing by 60% to 70% from March 2020 to April 2020 globally.
Asia Pacific to Hold Leading Share of Global Polyhydroxy Acid Market
- In terms of region, the polyhydroxy acid market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global polyhydroxy acid market, followed by North America and Europe, during the forecast period
- The market in Asia Pacific is expected to expand at a higher CAGR than that in Europe and Latin America during the forecast period owing to the increase in awareness about the health benefits of polyhydroxy acid in China, India, Japan, and the Rest of Asia Pacific. The main production base is located in China.
- Expansion of the chemical industry in India and China, led by regulatory support, is expected to ensure continuous raw material access for skin care product manufacturers. This is expected to drive the market in Asia Pacific during the forecast period.
Key Manufacturers Operating in Global Polyhydroxy Acid Market
The polyhydroxy acid market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the polyhydroxy acid market include:
- Paula’s Choice Skincare
- Dr. BRANDT
- glow recipe
- balance me
- Lancer Skincare
- Perricone MD
Polyhydroxy Acid Market: Research Scope
Polyhydroxy Acid Market, by Type
- Lactobionic acid
Polyhydroxy Acid Market, by Application
Global Polyhydroxy Acid 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.