Mandelic Acid Market size will continue to see strong growth with growing application potential across the healthcare and personal care industry.
Mandelic acid, an aromatic alpha hydroxy acid, extracted from bitter almonds is an essential ingredient in cosmetic and medicine industry. It is used as an intermediate & antimicrobial in personal care and pharmaceutical products.
Rise in consumer purchasing power accompanied by increase in application scope pertaining to adult acne will stimulate mandelic acid market in cosmetic applications. Global cosmetic industry spending was over USD 465 billion in 2015 and is predicted to surpass USD 670 billion by 2023, increase in women participation at work accompanied by growth in men preference for creams and lotion has driven product demand.
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As a cosmetic ingredient, it possesses various advantages, making it suitable to meet consumer needs which includes exfoliating dead skin, repair sun damaged skin, treats freckles, and acts an anti-aging formula. The product has anti-bacterial properties which makes them ideal for pharmacological uses. As it can be used with methenamine in order to produce mandelamine, which is used to treat chronic urinary tract infections (UTI). Moreover, structurally it acts as an antibiotics used for bacterial infections treatment.
North America mandelic acid market demand is likely to observe notable growth owing to increase in trend for anti-aging cream accompanied by EPA approval to use it as an ingredient in drugs and creams. Increase in pharmaceutical spending and preference for nutraceutical products should favor Europe mandelic acid market share. Germany medical drugs expenditure is noted to be highest in region. As per industry estimates the country had pharmaceutical turnover of over USD 49 billion in 2014.
Innovative strategies to produce bio catalytic flavor is likely to take advantage of the vast progress currently being made in the developing fields of functional genomics, proteomics, protein and metabolic engineering.
Mandelic acid market price trend will play a critical role in penetration, especially in the cosmetic ingredient space. Global synthetic biology market size was estimated at over USD 1 billion in 2010 as per industry estimates, and forecast to surpass USD 10.6 billion by 2016.
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Synthetic biology production or naturally sourced molecules for personal care products and cosmetics are launching into the market. Squalene, an emollient, has traditionally been sourced from the deep sea shark liver, in recent times plant-based alternatives have been explored and commercialized to some extent. Global squalene market size was over 2.5 kilo tons in 2014 and is likely to gain above 9% CAGR up to 2022.
In 2011, Amyris invested in a synthetic biology-produced squalane to the Japanese market, promoted as Neossance Squalane. Amyris uses Brazilian sugarcane as feedstock and transformed yeasts to derive the hydrocarbon farnesene, which can be resulted as squalane.
Mandelic acid market share is fairly fragmented in nature with presence of numerous industry participants and local manufacturers. Japan is among the major country producing this ingredient. Industry players include BASF, Changzhou Qidi Chemical Co., Ltd., Sinoway Industrial Co., Ltd., Shanghai Worldyang Chemical Co., Lim, Shanghai Ruizheng Chemical Technology, and Shaanxi Yuantai Biological Technology.
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