Azelaic Acid Market Is Estimated To Witness High Growth Owing To Increase in Dermatological Applications
Market Dynamics:
The growth of the azelaic acid market is majorly driven by the increasing demand from dermatological applications. Azelaic acid is widely used for the treatment of various skin conditions such as mild to moderate acne, rosacea, melasma, hyperpigmentation, and others. It reduces inflammation and oxidative stress while inhibiting melanin production. Furthermore, it exhibits strong antibacterial activity against Propionibacterium acnes, which is a leading cause of acne. Growing awareness regarding the effectiveness of azelaic acid for acne treatment compared to benzoyl peroxide or topical retinoids is also propelling the market growth. Additionally, easy availability of over-the-counter products containing azelaic acid is boosting its adoption. The increasing popularity of dermatological procedures for skin lightening and rejuvenation is creating opportunities for azelaic acid application in anti-aging and bleaching treatments. On the other hand, the availability of alternative therapies, and lack of awareness in some regions are hindering the market growth.
Key Takeaways
Global Azelaic Acid Market Size is expected to witness high growth, exhibiting a CAGR of 6.2% over the forecast period, due to increasing demand for natural and eco-friendly cosmetic ingredients. Wide application of azelaic acid in pharmaceuticals and personal care sectors also boost the market.
Regional analysis: Europe dominates the global azelaic acid market currently. It is projected to account for over 35% market share by 2030 owing to rising cosmetic and pharmaceutical industry and growing health consciousness in the region. Asia Pacific exhibits the fastest growth led by countries like China and India. Increasing disposable incomes, rising skin care budgets, and growing medical tourism drive the regional market.
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. Key players focus on expanding production capacities and new product launches to gain shares in the lucrative market.
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