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The global glabridin (CAS 59870-68-7) market size is estimated to grow at a CAGR of 4.91% between 2022 and 2027. The market size is forecast to increase by USD 6,907.95 thousand. The growth of the market depends on several factors such as the growing cosmetics industry in developing countries, the growing geriatric population globally, and the increasing consumer demand for natural ingredients in skincare and cosmetic products.
This glabridin (cas 59870-68-7) market report extensively covers market segmentation by type (20% HPLC, 40% HPLC, 60% HPLC, 90% HPLC, and 98% HPLC), application (cosmetic and pharmaceutical), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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One of the key factors driving the glabridin (cas 59870-68-7) market growth is the growing geriatric population globally. Factors such as the changing skin care needs and preferences of older consumers are significantly contributing to the growth of the market. Additionally, there is a significant demographic shift across the world with a growing proportion of the adult population which has fuelled the skincare solutions that cater to age-related concerns.
Moreover, a majority of the geriatric population is constantly seeking anti-aging skincare products to address common signs of aging, including wrinkles, fine lines, and age spots. As a result, there is an increasing demand for Glabaring which is known for its potential to reduce pigmentation and promote skin elasticity. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
A key factor shaping the glabridin (cas 59870-68-7) market growth is the growing use of advanced separation methods for glabridin purification. There is an increasing focus on developing advanced separation methods for the purification of glabridin. These methods are essential for ensuring the purity and quality of glabridin which has various applications across different industries such as cosmetics, skincare, and pharmaceutical industries.
Moreover, one of the main methods for generating glabridin of high levels of purity is Macroporous resin purification. There is an increasing adoption of this method as it is known for its effectiveness in achieving high-purity glabridin. Therefore, technological advancements and increasing research in separation techniques will fuel improvements in the efficiency and cost-effectiveness of the glabridin purification process. Hence, such factors are driving the market growth during the forecast period.
Growing price volatility related to raw materials used in glabridin production is hindering the market growth during the forecast period. The fluctuations in the price of the raw materials are a significant challenge impacting the industry dynamics. The limited or irregular supply of licorice root, from which Glabridin is sourced is one of the main factors influencing the fluctuations of prices in the global glabridin market.
Moreover, some of the main factors that are influencing the cultivation of licorice root cultivation include climatic conditions, soil quality, and agricultural practices. Additionally, price volatility can be caused due to disruptions in the supply of licorice root due to weather-related issues, plant disease, or other environmental factors. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Glabridin (CAS 59870-68-7) Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alchem International Pvt. Ltd: The company offers glabridin, a key ingredient in skincare products for its anti-inflammatory and skin-lightening properties.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The 20% HPLC segment is estimated to witness significant growth during the forecast period. 20% HPLC glabridin can be referred to as glabridin, a natural compound derived from licorice root, with a purity level of 20% as determined by High-Performance Liquid Chromatography (HPLC). This segment is extensively used in formulations where a lower concentration of glabridin is needed. There is an increasing adoption of this segment in cosmetics and skincare products.
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The 20% HPLC segment was the largest segment and was valued at USD 7,075.67 million in 2017. Some of the key uses of this segment include reducing uneven skin tone, minimizing hyperpigmentation and dark spots, offering antioxidant protection, soothing sensitive skin, aiding in sun damage repair, and potentially assisting in acne management. The increasing adoption of this segment is due to its versatility and efficacy making it a valuable addition to different skincare formulations, promoting healthier and more radiant skin. Factors such as its effectiveness in promoting skin brightening, along with its gentle nature is fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the prominent cosmetic companies are based in the APAC region, especially in countries such as China, Japan, South Korea, and India. Factors such as innovation, advanced research and development, and strong consumer demand for effective skincare products are significantly influencing the growth of the market in the APAC region.
In addition, the rising consumer demand for natural and healthy ingredients and the presence of a la clear, healthy, and youthful-looking skin consumer base are also fuelling the growth of the market in the region. Furthermore, the Asian cultural focus on clear, healthy, and youthful-looking skin has resulted in high demand for skin care products, such as those containing glabridin which is positively impacting the market. Hence, such factors are expected to drive the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global glabridin (cas 59870-68-7) market witnessed a significant slowdown as there is lower demand for herbal products from physical retail outlets due to the full or partial closure of these outlets. in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of retail outlets. Such factors are expected to drive the market during the forecast period.
The glabridin (cas 59870-68-7) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Glabridin (CAS 59870-68-7) Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.91% |
Market growth 2023-2027 |
USD 6,907.95 th |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.67 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 35% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alchem International Pvt. Ltd., Arkure Health Care, Azelis SA, Cayman Chemical, Foodchem International Corp., Glentham Life Sciences Ltd., Haihang Industry Co. Ltd., Herbal Creations, Herbo Nutra, Kan Phytochemicals Pvt. Ltd., KAVYA PHARMA, M.C.Biotec Inc., Merck KGaA, Plamed Green Science Group, Sabinsa Corp., Suzhou Springchem International Co. Ltd., Tianjin YR Chemspec Technology Co. Ltd., XI AN KINTAI BIOTECH INC., Xi an Sost Biotech Co. Ltd., and Starchem Enterprises Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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