Global Mandelic Acid Market, By Type (DL Mandelic Acid, L Mandelic Acid and D Mandelic Acid), Application (Pharmaceutical, Personal Care and Cosmetics and Others), End User Industry (Chemical and Petrochemical, Cosmetics, Food and Beverages, Healthcare and Other End user Industries), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Mandelic Acid Market
Data Bridge Market Research analyses that the mandelic acid market will witness a CAGR of 15.10% for the forecast period of 2021-2028. Growth in the demand for mandelic acid especially in the developing economies like India and China, growing use of mandelic acid by a wide range of end user verticals such as chemical and petrochemical, cosmetics, food and beverages, healthcare and other end user industries, and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the mandelic acid market. Therefore, the mandelic acid market value, which was USD 200 million in 2020, would stand tall by USD 616.07 million by 2028.
Mandelic acid is a white crystalline solid that belongs to the group of alpha hydroxy acid. Mandelic acid is an aromatic compound that is extracted from bitter almonds and exhibits various medicinal properties and therefore is used as a drug and antimicrobial. Mandelic acid improves the appearance and overall skin texture.
Rise in demand for mandelic acid by the food and beverages industry is the root cause fuelling up the market growth rate. Rising application areas for mandelic acid such as in cosmetic products and growth and expansion of various end user verticals especially in the developing economies will also directly and positively impact the growth rate of the market. Boosting demand for polyester disperse dyes from textile and plastic industries and increased spending on the agrochemicals will further carve the way for the growth of the market.
However, insufficiency in raw material supply owing to the lockdown and fluctuations in their prices will pose a major challenge to the growth of the market. Side effects of mandelic acid in case of few individuals will dampen the market growth rate. Also rising labour costs will also impede the market growth rate.
This mandelic acid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on mandelic acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Mandelic Acid Market Scope and Market Size
The mandelic acid market is segmented on the basis of type, application and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the global mandelic acid market is segmented into DL mandelic acid, L mandelic acid and D mandelic acid.
- On the basis of application, the mandelic acid market is segmented into pharmaceutical, personal care and cosmetics and others. Pharmaceutical segment is sub-segmented into API synthesis and preservatives.
- On the basis of end user industry, the mandelic acid market is segmented into chemical and petrochemical, cosmetics, food and beverages, healthcare and other end user industries.
Mandelic Acid Market Country Level Analysis
The mandelic acid market is analysed and market size, volume information is provided by country, type, application and end user industry as referenced above.
The countries covered in the mandelic acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the mandelic acid market and will continue to flourish its dominance during the forecast period owing to the rise in drug shedding and the popularity of pharmaceutical products. Asia-Pacific will continue to undergo substantial gains during this period and register the highest CAGR owing to the high economic growth in the emerging countries, growth and expansion of various end user verticals in this region, surging demand for dry intermediates, abundant availability of raw materials and rising industrialization.
The country section of the mandelic acid market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Mandelic Acid Market Share Analysis
The mandelic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to mandelic acid market.
The major players covered in the mandelic acid market report are Evonik Industries AG, BASF SE, Hanhong Scientific, Merck KGaA, Alfa Aesar, Thermo Fisher Scientific Inc., CLEARSYNTH, Biosynth Carbosynth., Runder Pharmda Technology Co., Ltd., BIOTEC, Xinhai Technology Group CO., LTD., SMART Chemical Solutions., R. L. Chemical Industries., Hefei TNJ Chemical Industry Co., Ltd., Jiangxi Keyuan Biopharm Co., Ltd., TAIZHOU SHENGYU CHEMICAL CO.,LTD and Santa Cruz Biotechnology, Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.