Azelaic acid is an organic compound, which belongs to the family of dicarboxylic acids. It can be found naturally in wheat, rye, and barley. Azelaic acid is primarily used for the treatment of rosacea, which is a common skin condition that results in redness and pimples on the face. It works by reducing inflammation and killing certain bacteria on the skin. In addition, it helps improve the appearance of papules and pustules associated with rosacea. Apart from rosacea, azelaic acid is also used topically in the treatment of acne. Pharmaceutical companies are increasingly using azelaic acid in the development of various skin care products owing to its antibacterial and anti-inflammatory properties.
The Global Azelaic Acid Market Size is estimated to be valued at US$ 340.78 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increasing R&D activities focused on developing innovative formulations using azelaic acid coupled with rising demand for effective acne and rosacea treatment options are some of the major drivers projected to support the growth of azelaic acid market over the forecast period. Furthermore, growing adoption of azelaic acid in anti-aging creams and lotions owing to its ability to lighten pigmentation is also expected to boost the market growth. Additionally, increasing consumer awareness regarding skincare products coupled with rising disposable income levels in developing countries is anticipated to fuel the demand for azelaic acid over the coming years.
Segment Analysis
The Azelaic Acid market can be segmented based on application as follows:
– Cosmetics- Dominating segment with around 40% share. Azelaic acid is widely used in various skincare and anti-aging cosmetic products due to its efficacy in reducing acne, treating hyperpigmentation and improving skin tone.
– Pharmaceuticals- Fast growing segment owing to increasing usage of azelaic acid in topical treatments of rosacea and other dermatological conditions.
– Others (including corrosion inhibitors, paints etc.)
PEST Analysis
Political: No major political factors affecting the market currently.
Economic: Rising personal care spending and increasing demand for natural ingredients in cosmetic products driving market growth. Fluctuations in raw material prices can impact production costs.
Social: Increasing consumer preference for natural and herbal ingredients in cosmetics is fueling the adoption of azelaic acid. Rising skin concerns like hyperpigmentation and acne also supporting market growth.
Technological: Manufacturers focusing on development of innovative delivery systems like gels, lotions, creams to improve efficacy and suitability for various skin types.
Key Takeaways
The global Azelaic Acid market is expected to witness high growth at a CAGR of 7.9% during the forecast period of 2024 to 2031, driven by rising demand from cosmetic and pharmaceutical applications. The global azelaic acid market is estimated to be valued at US$ 340.78 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.
Regional analysis- Asia Pacific dominates and is expected grow fastest during forecast period owing to rapid economic growth, rising disposable income and increasing health awareness in countries like China and India.
Key players- Key players operating in the Azelaic Acid market are Kamstrup, Danfoss, Qundis, Itron, Zenner, Engelman, Ista, Landis+Gyr, Diehl, Sontex, Brunata, Apator, Techem, Techno-Trade, GWF MessSysteme, Weihai Ploumeter, Axioma Metering, Zhifang Huaxu, Sensus Metering Systems, Emerson. Kamstrup holds the largest market share currently due to its wide distribution network and innovative product portfolio.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
