The global Azelaic Acid Market is estimated to be valued at US$ 295.81 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Azelaic acid is a saturated dicarboxylic acid occurring in wheat, rye and barley. It is used in pharmaceutical and cosmetic applications due to its anti-inflammatory, antimicrobial and keratolytic properties. It is effective in treatment of mild to moderate acne, rosacea and hyperpigmentation disorders.
Market key trends:
One of the key trends in the azelaic acid market is its growing application in treatment of hyperpigmentation disorders. Azelaic acid helps inhibit melanin production and is used as a depigmenting agent in lightening creams and serums. It is a safer alternative to hydroquinone and kojic acid which are typically used for skin lightening but have side effects. Azelaic acid exhibits melanin depigmentation by inhibiting DNA synthesis and affecting the transfer of melanosomes into keratinocytes. This reduces the severity of hyperpigmentation conditions like melasma, age spots and post-inflammatory hyperpigmentation.
Segment Analysis
The global azelaic acid market is segmented by product type and application. By product type, natural azelaic acid holds the largest market share owing to its increasing demand from the cosmetic industry for skin care products such as creams, lotions, serums. Natural azelaic acid exhibits anti-inflammatory, anti-microbial and anti-oxidant properties that make it suitable for treatment of acne-prone skin.
The application segment is further divided into plastics, lubricants, electronics, pharmaceuticals, personal care and others. Of these, the personal care segment dominates the market due to extensive usage of azelaic acid in various skin care products such as serums, gels, creams and lotions for reducing acne scars, treating hyperpigmentation, rosacea and promoting even skin texture.
Key Takeaways
Global Azelaic Acid Market Size is expected to witness high growth, exhibiting a CAGR of 6.2% over the forecast period from 2023 to 2030, due to increasing demand for natural cosmetic ingredients and acne treatment products.
The market size for azelaic acid is projected to reach US$ 295.81 Mn in 2023. Regionally, North America holds the largest market share currently owing to rising skin care issues and growing cosmetic industry in the region. The Asia Pacific region is expected to witness fastest growth over the forecast period supported by rising healthcare expenditure, growing middle class population and increasing investments in pharmaceutical and personal care industries.
Key players operating in the azelaic acid market are BASF SE, Croda International plc, Emery Oleochemicals, Haihang Industry Co., Ltd, Jiangsu Senxuan Pharmaceutical and Chemical Co., Ltd., Matrica S.p.A., Nantong Hengxing Electronic Materials Co., Ltd., Nantong Jinghua Pharmaceutical Co., Ltd., Wufeng Chicheng Biotech Co., Ltd., and Xi'an Sonwu Biotech Co., Ltd. These players are focusing on new product launches and expansion strategies to gain market share.
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