Global Kojic Acid Market 2024–2033

Reports Description

According to Custom Market Insights (CMI), The Global Kojic Acid Market was estimated at USD 60 million in 2021 and is expected to reach USD 62 million in 2022 and is anticipated to reach around USD 75 million by 2030, growing at a CAGR of roughly 2% between 2022 and 2030. Our research report offers a 360-degree view of the Kojic Acid market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Kojic Acid market.

• One of the Aspergillus fungal species, Aspergillus oryzae, produces the chemical known as kojic acid. Usually a by-product of rice malting’s fermentation process. The compound is called 5-hydroxy-2-hydroxymethyl-4-pyrone chemically. It is employed in producing the Japanese rice wine known as Sake. Limiting the creation of tyrosine, which is necessary for the formation of the skin pigment melanin, kojic acid aids in reducing the production of melanin.
• Additionally, it contains antioxidant, antimicrobial, and color-protective effects. The Japanese word koji, which is also the name of the fungus Aspergillus oryzae, is where kojic acid derives its name. As a result of its health advantages, it is commonly consumed in Japan. Due to its many properties, it is used in the food, medicine, and cosmetics industries.
• The COVID-19 epidemic presented numerous difficulties for the major market actors. The operational, supply chain management, marketing, and production factors were among them. The activities of the kojic acid business were significantly impacted by the numerous legal restrictions put in place by nations all over the world. Limitations imposed by COVID-19 led to a sudden halt in international trade as well as imports and exports. The market was further impacted by this. However, by 2022, sales and production are projected to increase in the market.
• Due to its antibacterial, color-protective, and antioxidative qualities, kojic acid provides a number of advantages. It contains antibacterial and antifungal characteristics in addition to anti-ageing effects on the skin. Additionally, it lessens scarring and skin discolouration. Due to its health advantages, kojic acid is extensively consumed in Japan and South Korea.

Report Scope

The global Kojic Acid market research report offers an in-depth analysis of the global market size, further segmented into the regional and country-level market size, and segmentation market growth. Also, it provides market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations. The scope of the study includes market sizing and forecast for segmentation by grade, end-user, and geography.

Report Scope

Key Market Dynamics

• Because of its beneficial effects on the skin, kojic acid is highly sought after in the cosmetics business. A major trend and contributing cause to the development in demand is the increasing demand for skin care products worldwide, particularly in developing nations. The demand for this acid is significantly influenced by skincare in the cosmetics sector. This fuels industry expansion and demand on a global scale for cosmetics.
• In the Asia Pacific area, the kojic acid market is expanding quickly. This acid is a food additive used in the food industry to stop fruits and vegetables from oxidizing. Additionally employed to maintain the color of meat and seafood. The exponential rise of the food industry worldwide, particularly in developing nations, is a significant contributor to the surge in global demand.
• As kojic acid is an organic and natural substance secreted by several microorganisms of the aspergillus genus, the rising demand for organic and natural beauty products will present potential prospects for the global kojic acid market.
• The global kojic acid market is expanding as a result of reasons such as rising food production due to population expansion, the rising need for medicine to treat fungal infections, including athlete’s foot, and rising skincare product consumption. Kojic acid can be used excessively to cure the skin, albeit this might have undesirable side effects such as dermatitis, rashes, and blisters. Therefore, this might negatively affect how kojic acid is used in the cosmetics industry, which might hinder the expansion of the worldwide kojic acid market.

Cosmetic Grade to Hold the Largest Share in the Kojic Acid Market in 2021

• In 2021, the cosmetic grade represented a market share of more than 30% of the total market for kojic acid. Kojic acid is a tyrosinase inhibitor that prevents tyrosine formation, which subsequently stops the generation of melanin, which has a lightening effect on the skin.
• Most frequently found in cosmetic items, including creams, lotions, and serums, kojic acid is also present in some soaps. Many kojic acid-containing products are designed for use on the hands or face. The rising demand for self-care items has increased consumer spending on skincare and cosmetics, which has benefited kojic acid usage.
• For example, Shiseido’s overall 2021 yearly cosmetics sales climbed by 7% in America, while Proctor & Gamble’s skin care product sales increased by 11% compared to the same period in 2020. Therefore, kojic acid will be used as a skin-lightening agent more often in the cosmetic industry as a result of this rise in skincare product use. The development of the worldwide kojic acid industry will benefit from this.

Competitive Landscape

Companies regularly participate in mergers and acquisitions in order to increase their market position and establish a strong regional presence.

The competitive landscape of the Kojic Acid industry gives information about the competitors. The company’s financials, revenue generated, market potential, investment in R&D, global presence, new market initiatives, production capacities, production sites and facilities, company strengths and weaknesses, product release, product width and breadth, and application dominance are among the details that are included. The data points mentioned above only pertain to the companies’ market focus on Kojic Acids.

• 2022: Peace Out Dark Spots Serum has been introduced by Peace Out Skincare, a company that focuses on developing one-step treatments for skin problems.
• 2022: The Multi-bright Tranexamic Acid Treatment 5% from Naturium is a potent emulsion that employs tranexamic acid to treat facial hyperpigmentation and dark spots. It is suited for all skin types and tones and is designed to hydrate and improve overall skin tone. Encapsulated kojic acid, alpha arbutin, and acetyl glucosamine are also included in the tranexamic acid-based treatment.
• 2021: The skincare firm Faces Canada was acquired by the online beauty and personal care retailer Purplle, and this acquisition will expand the company’s innovative, high-quality makeup products.

The global Kojic Acid market is segmented as follows:

By Grade

• Pharmaceutical Grade
• Cosmetic Grade
• Food Grade
• Others

By End-user

• Pharmaceuticals
• Food & Beverage
• Cosmetics & Personal Care
• Others

By Region

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America