Kojic Acid Market Growth To Propel Owing To Rising Demand For Cosmetic Products Across The Globe

The global kojic acid market is anticipated to witness a healthy CAGR during the forecast period (2013 to 2028), according to a report available on Radiant Insights, Inc. Kojic acid is also known by its chemical name 5-hydroxy-2-hydroxymethyl-4-pyrone. It is prepared from various types of fungi, especially Aspergillus oryzae. Aspergillus oryzae is a filamentous fungus that is also known as Koji.

Rising demand for cosmetic products across the globe is anticipated to propel market growth. Kojic acid is used in multiple cosmetic products such as serums, powders, creams, cleansers, and soaps owing to its ability to treat different cosmetic conditions. Cosmetic products based on this acid are likely to lighten age spots, sun damage, and scars. Increasing use of the acid in antifungal products attributed to its antifungal and antimicrobial properties is stimulating market growth. These products are expected to treat fungal infections such as candidiasis, yeast infections, ringworm or athlete’s foot.

To cater to rising demand for cosmetic products based on kojic acid, manufacturing companies are investing in R&D activities to develop effective products. For instance, in February 2018, SkinCeuticals launched a skin discoloration serum called Discoloration Defense. Regular use of the product is likely to correct dark spots, post acne marks, and stubborn brown patches. The product contains 1% kojic acid, 3% tranexamic acid, 5% niacinamide, and 5% HEPES. 

Access "109" page research report with TOC on "Kojic Acid Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/2013-2028-report-on-global-kojic-acid-market  

The kojic acid market can be segregated on the basis of type, application, and region. Based on type, the market can be categorized into normal and ultra-high pure. On the basis of application, the market can be classified into cosmetics, medicine material, food additive, and others. Cosmetic segment is expected to account for highest market share over the forecast period.

Regional segmentation includes Europe, North America, Asia Pacific, South America, and Middle East and Africa. Asia Pacific is anticipated to hold highest market share over the forecast period. This is attributed to increasing use of kojic acid by cosmetic companies in Japan. High demand for effective skin lightening cosmetic products among women in Japan is driving regional growth. In addition, increasing number of manufacturing companies in China will drive regional market growth over the forecast period.  

Some of the key players in the kojic acid market are Sansho Seiyaku, Xi’an Hao-xuan Bio-tech Co, Ltd., Hubei Artec Biotechnology Co., Ltd., Sichuan Huamai Technology Co., Ltd, and Hubei Xiangxi Chemical Industry Limited Company.