Kojic acid is naturally produced from different types of fungi. It helps in the prevention of the production of tyrosine which produces skin pigmentation. It is extensively used in skincare products as it cures pigmentation and also is an effective anti-oxidant. Furthermore, the chronic and reproductive studies after examination prove that kojic acid is not toxic and can be safely used in cosmetics. This aspect has led to extensive use of kojic acid in the cosmetic industry which has ultimately added to the growth of the kojic acid market.
The popularity of kojic acid has increased owing to its quick absorption, and immediate results, and it also does not risk health. It is used in various cosmetics such as serums, depigmentation creams, powders, cleansers, and soap bars. Furthermore, the increasing use of kojic acid in end-use industries such as food additives, medicine materials, and cosmetics may present lucrative opportunities for market growth.
Benefits of Kojic Acid in Skincare Routine Creates Opportunities for Market Growth
The benefits associated with the use of kojic acid for skin treatment can be summarized as below:
- It helps in treating Melasma which occurs due to hormonal imbalance and causes dark patches on the skin. Kojic acid helps in lightening the affected areas.
- Kojic acid has UV protective properties which help in treating skin damage caused due to exposure to the sun. It also reduces age spots, fine lines, and wrinkles, and provides a youthful look.
- It treats scarred skin, acne, and injury marks. Furthermore, it is loaded with anti-bacterial properties which help to combat skin infections and helps in fading away acne caused due to bacteria.
- Kojic acid also has anti-fungal properties which help in curing fungal infections such as ringworm, candidiasis, and yeast infections.
The aforementioned benefits have propelled the growth of the kojic acid market.
Rising Consumer Preference for Effective Skincare Products to Boost Market Growth
The race among the younger generation to look and feel good has led to a sea wave transformation in the cosmetic industry. The millennials and baby boomers are conscious of having a flawless look which has eventually led to the growth of the kojic acid market. The application of kojic acid in food additive medicine materials, and cosmetics has shown significant growth in the kojic acid market.
Rapid urbanization has led to the rising disposable income of the individual which has increased the spending on personal care products which may eventually promote the growth of the kojic acid market.
The demand for skin lightening creams, bleaching creams, lotions, powders, anti-pigmentation creams, anti-wrinkle products, and others is increasing significantly which may prove to be a growth booster for the kojic acid market.
R&D Activities Lead To New Formulations Creating New Growth Avenues for Kojic Acid Market
The key market players are investing in rigorous research and development activities to formulate new products to improve the quality of products. The new product ranges have created awareness among consumers regarding the benefits associated with the use of kojic acid. The research regarding the replacement of chemicals with kojic acid has expanded its application in the construction and automobile industry. The marketing and promotional activities have increased the scope for growth of the kojic acid market. The players are also indulging in strategic collaborations with startups, mergers, acquisitions, and joint ventures to expand their market reach. All these developments are likely to assist in the growth of the kojic acid market.
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Asia Pacific to Hold Significant Share in Kojic Acid Market
Asia Pacific is likely to hold a major share of the global market owing to a large number of manufacturers in this region. The increasing awareness about the health benefits provided by kojic acid may create immense growth opportunities for the global market.