by The global Azelaic Acid Market is estimated to be valued at US$ 295.81 Million 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 naturally occurring dicarboxylic acid that is effective in reducing inflammation and hyperpigmentation when applied topically. It is used in pharmaceutical and dermatological applications for treating acne, rosacea, and hyperpigmentation disorders.
Market key trends:
One of the key trends in the azelaic acid market is its increasing demand from the pharmaceutical industry. Azelaic acid acts as an effective treatment for acne and rosacea. It works by killing bacteria and reducing inflammation. Additionally, it inhibits the enzyme that enables bacteria to adhere to skin cells. With a surge in skin issues due to changing lifestyles and rising pollution levels, the demand for azelaic acid from the pharmaceutical sector is growing substantially. This growing demand is expected to continue driving the market over the forecast period.
SWOT Analysis
Strength: Azelaic acid has various medical applications for acne treatment and skin whitening. It helps reduce inflammation and prevents clogging of pores.
Weakness: The production cost of azelaic acid is relatively high compared to other alternatives available in the market. This acts as a restraint for widespread adoption.
Opportunity: Increasing demand for organic and natural skincare products presents an opportunity for azelaic acid market players. Growing personal care industry especially in Asia Pacific is another growth driver.
Threats: Presence of substitutes like salicylic acid and glycolic acid poses challenges. stringent regulations associated with pharmaceutical applications can also threaten market growth.
Key Takeaways
Global Azelaic Acid Market Size is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing demand for skincare and pharmaceutical products. Azelaic acid act as an effective remedy for acne treatment and skin whitening.
Regional analysis: Asia Pacific dominates the global azelaic acid market and is expected to grow at the fastest pace during the forecast period. This can be attributed to rising disposable income, growing middle class population and increasing sales of cosmetic products in countries like China, India and South Korea. North America and Europe are other major markets for azelaic acid.
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. Emery Oleochemicals holds the largest market share owing to its robust distribution network and diversified product portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn
