The North America Glycolic Acid Market would witness market growth of 6.1% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 20,705.1 tonnes, showcasing a growth of 5.5% (2019-2022).
The cosmetics and skincare industry has been an early and enthusiastic adopter of glycolic acid. The compound’s exfoliating properties and ability to promote cell turnover and collagen synthesis make it a sought-after ingredient in many skincare products. Consumers are increasingly seeking science-backed solutions for their beauty routines, driving the demand for products containing glycolic acid. As the awareness of the benefits of glycolic acid in addressing various skin concerns grows, its adoption in cosmetics and skincare is likely to continue expanding.
In the medical and pharmaceutical sectors, glycolic acid has found significant adoption for its dermatological applications. Dermatologists commonly use glycolic acid to treat acne, hyperpigmentation, and scars. Its role in promoting skin rejuvenation and enhancing the effectiveness of certain pharmaceutical formulations has contributed to its widespread adoption in the medical field. The versatility of glycolic acid in addressing various skin issues makes it a valuable tool for healthcare professionals, further solidifying its adoption.
The Mexican Online Sales Association estimates that the domestic e-commerce sector was worth USD 19.7 billion in 2021, an increase of 27% over 2020. In 2021, there were 57.5 million users of Mexican eCommerce, up 11% from the previous year. In 2020, women made up 51% of Mexican eCommerce users. E-commerce platforms make skincare products, including those with glycolic acid, easily accessible to consumers across Mexico. Mexican consumers can explore a variety of glycolic acid formulations, including cleansers, serums, creams, and masks, providing them with choices that suit their specific skincare needs. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Glycolic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $104,499.4 Thousands by 2030. The Canada market is experiencing a CAGR of 8.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7.6% during (2023 - 2030).
Free Valuable Insights: The Glycolic Acid Market is Predict to reach $531 Million by 2030, at a CAGR of 6.8%
Based on Grade, the market is segmented into Technical Grade and Cosmetic Grade. Based on Application, the market is segmented into Personal Care & Dermatology, Industrial, Household and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Grade (Volume, Tonnes, USD Million, 2019-2030)
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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