The global Azelaic Acid Market is estimated to be valued at US$ 295.81 Mn or 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 an organic compound used in pharmaceuticals and cosmetics as it has antibacterial and keratolytic properties. It is used to treat acne, rosacea, and hyperpigmentation.
Market key trends:
Azelaic acid is an effective treatment for hyperpigmentation caused due to sun exposure, melasma, or post-inflammatory hyperpigmentation. It reduces melanin production and improves skin lightening. It is a safe alternative to hydroquinone and other harsh ingredients for skin lightening. The growing demand for natural and herbal skin lightening treatments is driving the utilization of azelaic acid for hyperpigmentation.
Segment Analysis
The Global Azelaic Acid Market Size is dominated by the pharmaceuticals sub-segment. Azelaic acid is widely used in pharmaceuticals industry as an anti-inflammatory and antibacterial agent in treatment of various skin conditions like acne, rosacea, and hyperpigmentation. It is also used as an excipient in pharmaceutical manufacturing. Due to rising prevalence of skin related issues globally and increasing awareness about treatment options, the pharmaceuticals sub-segment accounts for over 60% of the market share.
Key Takeaways
The global azelaic acid market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing prevalence of skin conditions like acne, rosacea and psoriasis.
Regional analysis
North America dominates the global azelaic acid market with over 35% share due to large acne patient population and rising awareness about azelaic acid in skin treatment. Asia Pacific exhibits the fastest growth due rising disposable income, growing chemical industry and increasing skin disease patients.
Key players
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
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