Dihydroxyacetone (DHA) Market Size, Share, Growth, and Industry Analysis by Type (Above 99% and Above 98%) By Application (Cosmetics, Pharmaceuticals, Food and Others) Regional Forecast To 2031

Updated On: 22 April 2024

Dihydroxyacetone (DHA) Market REPORT OVERVIEW

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The global dihydroxyacetone market size was USD 169.6 million in 2022 & the market is expected to reach USD 258 million in 2031, exhibiting a CAGR of 4.8% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre- pandemic levels once the pandemic is over.

Dihydroxyacetone (DHA), a chemical molecule with the formula C3H6O3, is produced, distributed, and sold all over the world. This industry is referred to as the "dihydroxyacetone (DHA) market." Dihydroxyacetone is mainly employed in the creation of products for sunless and self-tanning.

A colorless sugar called dihydroxyacetone combines with the amino acids in the skin's outermost layer to give the skin a brown hue that resembles a natural tan when it is applied to the skin. Due to this characteristic, it has become a well-liked component in the cosmetics business, especially when used to create self-tanning lotions, sprays, and mousses.

Changing aesthetic trends, the desire for a sun-kissed look without the negative effects of UV radiation, and the ease of self-tanning at home have all contributed to the rise in self-tanning product demand around the globe over the years. In turn, this has led to a considerable increase in the dihydroxyacetone market.

COVID-19 Impact: Decreased Consumer Demand and Shift in Their Behavior to Challenge the Market Demands

Many customers cut back on their expenditure on frivolous things, such as cosmetics and personal care products, as a result of lockdowns and social isolation tactics. Sales of self-tanning products containing dihydroxyacetone were further hampered by the closing of retail locations and decreased foot traffic. Consumer behavior changed in response to the epidemic, with a focus now placed more heavily on natural products, hygiene, and good health. It's possible that this change had an impact on the market for dihydroxyacetone -containing self-tanning products among other items. Aesthetics may not have been as important to all customers as things that support overall wellbeing.

LATEST TRENDS

"Increasing Demand in Cosmetic Industry to Augment the Market Growth"

In self-tanning products, dihydroxyacetone is frequently utilized as an active component. Self-tanning products are becoming more and more popular as a consequence of shifting consumer tastes, rising knowledge of the dangers of UV radiation, and the desire for a sun-kissed look without contact to the sun. This has led to an increase in demand for DHA. Improved formulations and application techniques have been continuously introduced to the market as product advancements. The development of dihydroxyacetone -based treatments that offer a natural-looking tan, longer-lasting effects, and simplicity of application is the main emphasis of manufacturers. Dihydroxyacetone obtained from natural sources, such as sugar beets and sugarcane, are becoming more popular as an alternative to synthetic DHA derived from petrochemicals as a result of increased customer demand for organic and natural cosmetic goods.

Dihydroxyacetone (DHA) Market Segmentation

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• By Type Analysis

By type, market is segmented into above 99% and above 98%. The above 99% type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into cosmetics, pharmaceuticals, food and others. The cosmetics segment will lead the global share through 2031.

DRIVING FACTORS

"Increasing Demand for Self-Tanning Products to Push the Market"

Self-tanning lotions, creams, sprays, and mousses all include DHA as their main active component. A significant driver propelling the dihydroxyacetone market is the growing acceptance of self-tanning products, which is fueled by evolving aesthetic trends, the desire for a sun-kissed look without exposure to sunlight, and growing awareness of the negative effects of UV radiation. An enormous amount of growth is being seen worldwide in the cosmetics sector. Bronzers, foundations, and face tanners are just a few of the cosmetic products that often include DHA. Due to reasons including urbanization, changing lifestyles, and increased disposable incomes, there is an increase in the need for cosmetic goods, which is raising the demand for dihydroxyacetone. Worldwide sales of skincare products are rising, especially those for sunless tanning. Dihydroxyacetone is a crucial component of these products because of its capacity to provide a transient tan. The demand for dihydroxyacetone -based skincare products is rising, which is fueling the market expansion. This is due to the increased attention being paid to skincare and the growing consumer awareness of the negative consequences of excessive sun exposure.

"Rising Health Consciousness and Preference for Natural Ingredients to Boost the Market Demands"

The manufacture of dihydroxyacetone has been enhanced thanks to ongoing research and technical developments, which have also boosted production efficiency and reduced costs. These developments have helped the industry flourish by making dihydroxyacetone more widely available and reasonably priced. Natural and organic products are becoming more and more popular among customers. Dihydroxyacetone is a desirable element for environmentally aware customers since it may be produced from natural resources like sugar cane or beets. The market for dihydroxyacetone is expanding as a result of consumer desire for natural and organic cosmetics and self-tanning products. Lifestyle changes and a rise in purchasing power are the results of economic expansion, growing disposable incomes, and urbanization. Consumers are prepared to spend money on grooming and personal care items, such as dihydroxyacetone -containing self-tanning and skincare products. One key factor driving the industry is the growing middle-class population in emerging markets.

RESTRAINING FACTORS

"Limited Awareness and Acceptance to Slow the Market Growth "

Despite the recent growth in popularity of self-tanning goods, several consumer groups and geographic areas still have little knowledge or acceptance of these products. The acceptance of dihydroxyacetone -containing self-tanning products, as well as other self-tanning products, can be influenced by cultural preferences, social conventions, and conventional beauty standards. A constraining barrier for the v market might be customer preferences that are unknowledgeable or resistant to change. Dihydroxyacetone may cause skin sensitivity or allergic responses in certain people. From minor irritations to more serious problems, these responses might vary. Adverse responses occasionally might result in unfavorable consumer experiences and worries about product safety. The demand for self-tanning products that include dihydroxyacetone may consequently be affected.

Dihydroxyacetone (DHA) Market REGIONAL INSIGHTS

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"North American Market to Grow Exponentially with the Forecasted Period"

Dihydroxyacetone has seen substantial use in the North American market, notably in the United States, as a result of the widespread use of sunless tanning products. The preference among consumers in North America for self-tanning products over conventional tanning techniques is what is driving the market for dihydroxyacetone.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

•  Merck KGaA (Germany)
• Givaudan (Switzerland)
• Hungsun Chemical (China)
• Spec-Chem Industry (China)
• Shaanxi Iknow Biotechnology (China)
• Hubei Marvel-Bio Medicine (China)
• Changxing Pharmaceutical (China)
• Huateng Pharma (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.