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Follow on Google News | Europe is Dominating Glycolic Acid IndustryIn 2021, the global glycolic acid market was worth around $309.3 million value, which is predicted to touch $604.4 million by 2030.
By: P&S Intelligence In 2021, the personal care and cosmetics category held the largest market share at 58.2%. this is due to glycolic acid being extensively utilized in skincare and personal care products, including wrinkle removal products, moisturizers, anti-aging creams, and other hair care products. Moreover, the rising knowledge regarding personal hygiene, coupled with increasing per-capita income and growing desire among people to look better, is boosting the demand for skincare products, which is eventually snowballing the requirement for glycolic acid. For example, the sales of cosmetic items throughout the world accounted for USD 80.73 billion in 2020, in which the skincare section had a 42% share and the hair care segment had a 22% share. In APAC, China is the biggest buyer of glycolic acid, and the nation's industry is projected to rise at a CAGR of 8.3% in the coming years. According to the government source, the retail sales worth of cosmetics accounted for USD 52.3 billion in 2020 in the country. Furthermore, the public leans toward caring about their skin from pollution and dirt, and therefore, they are spending on good skincare items and hair items, in to order look to up to the mark in a corporate meeting. Europe is the largest industry for glycolic acid (https://www.psmarketresearch.com/ key players, such as Unilever and L'Oréal continually spending on technologies to build enhanced skincare products and advance customer experience, by offering products that comprise glycolic acids like Classic Anti-Wrinkle Eye Cream, L'Oreal Revitalift Glycolic Acid, and many others. Hence, the growing working women populace and the urge to look good among the people will drive the glycolic acid market in the future also. End
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