Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The dynamics of the mandelic acid market are influenced by various factors that collectively shape its growth, trends, and competitiveness across different industries. One key dynamic is the increasing consumer demand for skincare products containing mandelic acid. Mandelic acid, derived from bitter almonds, is renowned for its exfoliating, anti-inflammatory, and antibacterial properties, making it a sought-after ingredient in skincare formulations. As consumers become more educated about skincare ingredients and seek out products targeting specific skin concerns such as acne, hyperpigmentation, and aging, the demand for mandelic acid-based skincare products is expected to rise steadily.
Moreover, the pharmaceutical industry's interest in mandelic acid as a pharmaceutical intermediate is driving market dynamics. Mandelic acid serves as a key raw material in the synthesis of various pharmaceutical compounds, including antibiotics, antiviral drugs, and antiseptics. With the increasing prevalence of infectious diseases and the need for effective treatment options, the demand for pharmaceuticals containing mandelic acid as an active ingredient is projected to grow, fueling market expansion in the pharmaceutical sector.
Additionally, the cosmetic industry's shift towards natural and organic ingredients is contributing to market dynamics in the mandelic acid industry. Mandelic acid's natural origin, mild exfoliating properties, and suitability for sensitive skin make it a preferred choice for formulators seeking effective yet gentle skincare solutions. As consumers gravitate towards clean label formulations and seek out products with recognizable ingredients, the demand for mandelic acid-based cosmetics and personal care products is expected to increase, driving innovation and product development in the cosmetic industry.
Furthermore, technological advancements and innovations in mandelic acid production and formulation are driving market dynamics by enhancing product quality, efficiency, and cost-effectiveness. Manufacturers are investing in research and development to improve extraction methods, purification techniques, and formulation technologies to meet the evolving needs of consumers and industry regulations. Advanced extraction techniques, such as solvent extraction and supercritical fluid extraction, have enabled higher yields and purity levels of mandelic acid from natural sources, making it more commercially viable for manufacturers.
Moreover, changing consumer preferences and lifestyles are influencing market dynamics in the mandelic acid industry. As consumers prioritize self-care and invest in skincare routines, the demand for specialty skincare products containing mandelic acid is expected to grow. Manufacturers are responding to these trends by introducing a wide range of mandelic acid-based products targeting specific skin concerns and demographic segments, including anti-acne treatments, anti-aging serums, and brightening creams.
Furthermore, regulatory factors, including safety regulations and labeling requirements, play a significant role in shaping market dynamics in the mandelic acid industry. Manufacturers must ensure compliance with regulatory guidelines and obtain necessary approvals and certifications to market mandelic acid products effectively. Moreover, adherence to good manufacturing practices (GMP) and quality standards is essential for ensuring product safety, efficacy, and consumer satisfaction.
Additionally, market competition and pricing pressures are influencing market dynamics in the mandelic acid industry. As the market becomes more saturated with competing products and brands, manufacturers are under pressure to differentiate their offerings through product innovation, branding, and marketing strategies. Moreover, pricing strategies, including discounts, promotional offers, and bundle deals, are used to attract consumers and gain market share in a highly competitive market environment.
Mandelic Acid Market Highlights:
Global Mandelic Acid Market Overview
Mandelic acid Market Size was valued at USD 0.25 Billion in 2022. The mandelic acid industry is projected to grow from USD 0.28 Billion in 2023 to USD 0.80 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.80% during the forecast period (2023 - 2032). Rising awareness among consumer related to skin treatment and increasing consumer spending on beauty products are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Mandelic Acid Market Trends
-
Growing demand for skincare products is driving the market growth
The mandelic acid market is witnessing a surge in demand due to the increasing popularity of skincare products. Mandelic acid, known for its gentle exfoliating properties, is a key ingredient in various skincare formulations. Consumers are increasingly seeking products that address issues like acne, hyperpigmentation, and uneven skin tone, driving the demand for mandelic acid-infused skincare items. This factor drives the market CAGR.
Additionally, a notable trend in the mandelic acid market is the rising preference for natural and organic ingredients in skincare. Mandelic acid, derived from almonds, aligns with this preference, as it is a naturally occurring alpha hydroxy acid. Beauty and skincare brands are incorporating mandelic acid into their formulations to meet the growing consumer demand for clean, plant-based ingredients.
The mandelic acid market is experiencing continuous innovation in cosmetic formulations. Companies are investing in research and development to create advanced skincare products with enhanced efficacy and minimal side effects. Innovations include the incorporation of mandelic acid into multifunctional products, such as serums, toners, and peels, offering consumers a diverse range of options for addressing various skincare concerns. For instance, in 2019, BioAmber Inc. announced partnership with EcoMundo, a sustainability consulting firm, to assess and reduce the environmental impact of its production process. Thus, driving the mandelic acid market revenue.
Mandelic Acid Market Segment Insights
Mandelic acid Type Insights
The mandelic acid market segmentation, based on type includes DL Type, L Type and D Type. The dominating type is DL type. DL Mandelic Acid, or racemic mandelic acid, encompasses both the L and D forms in equal proportions. This type is widely utilized in various applications, including pharmaceuticals and skincare products. Its versatility and balanced composition make DL Mandelic Acid a preferred choice for different industries, leading to its dominance in the market. Simultaneously, the fastest-growing category in the mandelic acid market is L Mandelic Acid. L Mandelic Acid, the pure form of mandelic acid, is increasingly gaining popularity in skincare formulations due to its effectiveness in treating various skin concerns.
Figure1: Mandelic acid Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Mandelic Acid Application Insights
The mandelic acid market segmentation, based on Application, includes Pharmaceutical, Cosmetics & Personal Care, Textiles & Dye Intermediates and Others. The dominating application is in the Pharmaceutical sector. Mandelic acid finds extensive use in pharmaceuticals, where it serves as an essential ingredient in various medications and formulations. Its antimicrobial and therapeutic properties contribute to its prevalence in the pharmaceutical industry, establishing it as the dominant application category. Concurrently, the fastest-growing category in the mandelic acid market is in Cosmetics & Personal Care. The increasing demand for skincare and beauty products, coupled with the rising awareness of the benefits of mandelic acid in skincare formulations, propels its rapid growth in the cosmetics and personal care segment.
Mandelic acid Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American mandelic acid market area will dominate this market, owing to skincare awareness and demand and presence of cosmetic and pharmaceutical industries will boost market growth in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: MANDELIC ACID MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe mandelic acid market accounts for the second-largest market share due to the consumer awareness and education and innovation in beauty and personal care. Further, the German mandelic acid market held the largest market share, and the UK mandelic acid market was the fastest growing market in the European region
The Asia-Pacific Mandelic acid Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increasing demand for cosmetic ingredients and product innovation and formulation. Moreover, China’s mandelic acid market held the largest market share, and the Indian mandelic acid market was the fastest growing market in the Asia-Pacific region.
Mandelic Acid Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the mandelic acid market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, mandelic acidindustry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the mandelic acid industry to benefit clients and increase the market sector. In recent years, the mandelic acid industry has offered some of the most significant advantages to medicine. Major players in the mandelic acid market, including BASF, Keyuan Biopharm, Wuhan Runder Pharmda Technologoy, Hanhong Chemical, Xiang Rong Chemical, Shengyu Chemical., and others, are attempting to increase market demand by investing in research and development operations.
The Chemours Company is known for its diverse portfolio of chemical products, including fluoroproducts, titanium technologies, chemical solutions, and more. The company operates globally, serving various industries such as automotive, electronics, energy, and consumer products. In November 2021, The Chemours Company launched a new glycolic acid product under the brand name Glyclean D. The new product is used as a disinfectant for various household and institutional cleaning applications.
The CABB Group was established in 2003 through Bridgepoint Capital's acquisition of Clariant's fine chemicals business. CABB is a prominent manufacturer of fine and specialty chemicals, creating a diverse array of chemical intermediates and active ingredients for industries such as agrochemicals, pharmaceuticals, and performance chemicals. The company has a global presence, with production facilities in Europe and Asia. October 2018, CABB Group GmbH invested millions of Euros to increase the storage and production volume of monochloroacetic (MCA) acid & its derivatives at the Knapsack and Gersthofen facility. The expansion will be boosting the company's production of glycolic acid at Gersthofen facility.
Key Companies in the mandelic acid market include
- Hanhong Group
- Evonik Industries AG
- BASF SE
- Sigma Aldrich
- Alfa Aesar
- Clearsynth
- Biosynth Carbosynth
- Runder Pharmda
- BIOTEC
- Xinhetai Science and Technology
- Smart Chemicals
- L. Chemicals
Mandelic Acid Industry Developments
January 2019: Skinceuticals launched a new glycolic acid cream, Glycolic 10 Renew Overnight that improves skin glow by 36% while also maintaining tolerability. The cream effectively targets dullness, fine lines, and uneven texture of the skin. It stimulates cell regeneration for enriched tone, texture, and brighter complexion.
July 2019: Hefei TNJ Chemical Industry Co., Ltd expanded its market in Cosmetics materials in Seoul, South Korea.
Mandelic Acid Market Segmentation
Mandelic acid Type Outlook
- DL Type
- L Type
- D Type
Mandelic acid Application Outlook
- Pharmaceutical
- Cosmetics & Personal Care
- Textiles & Dye Intermediates
- Others
Mandelic acid Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
