The Kojic Acid Market was at US$ 60 Million in 2021 and is growing to approx US$ 75 Million by 2030, with a CAGR growth of 2% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, March 2, 2023 /EINPresswire.com/ -- According to the study, The Global Kojic Acid Market was estimated at USD 60 Million in 2021 and is anticipated to reach around USD 75 Million by 2030, growing at a CAGR of roughly 2% between 2022 and 2030.

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Kojic Acid Market: Overview

A chelation agent known as kojic acid is produced from several fungi, including Aspergillus oryzae. The acid has a high concentration of antibacterial, antioxidant, and color-protecting characteristics and is a tyrosinase inhibitor. As a result of these special qualities, it is employed as a skin-lightening agent in the cosmetics industry and as a food additive in the food and beverage industry to stop enzymatic browning. Kojic acid is also used to cure melasma and hyperpigmentation when combined with anti-inflammatory substances like glycolic acid. The global kojic acid market is expanding as a result of reasons such as rising food production due to population expansion, the increasing need for medicine to treat fungal infections, including athlete’s foot, and growing skincare product consumption.

Kojic Acid Market: Growth Drivers

Rapid population growth and the adoption of a sustainable diet have increased the demand for food products, raising the level of food production worldwide. For instance, according to the US Food and Agriculture Organization, global vegetable output increased by 65% to 1128 million tons in 2019, while global fruit production increased by 54% to 883 million tons in 2019. Additionally, beef production has increased by 44% since 2000, reaching 337 million tons in 2019.

In the food and beverage business, kojic acid is used as a precursor for taste enhancers, as an antistaling agent for fruits and vegetables, as a way to stop cut fruits from oxidative browning, and as a way to keep meat pink and red color. Kojic acid will therefore be used more frequently in the food industry as a result of the rise in global production of these food items due to rising global demand. The development of the worldwide kojic acid industry will benefit from this.

Kojic acid is used in skin care products like creams and lotions to lighten skin and treat conditions like hyperpigmentation, making the cosmetics industry one of the main end-users of the substance. As a tyrosinase inhibitor, kojic acid works to lighten skin by limiting the generation of melanin, which prevents the development of dark patches on the skin. Consumption of skincare products has surged owing to growing worries about skin nourishment brought on by issues including scars, dullness, and black spots.

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Key Insights:

A) As per the analysis shared by our research analyst, the Kojic Acid market is estimated to grow annually at a CAGR of around 2% over the forecast period (2022-2030).
B) In terms of revenue, the Kojic Acid market size was valued at around USD 60 Million in 2021 and is projected to reach USD 75 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) 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.
D) 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.
E) 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.
F) 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.

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Regional Landscape

During the projected period, Asia Pacific is anticipated to account for a significant portion of the worldwide kojic acid market, followed by North America and Europe. Due to the increased awareness of kojic acid’s health benefits in China, India, Japan, and the rest of Asia Pacific, the kojic acid market in this region is anticipated to grow at a quicker CAGR than those in Europe and Latin America over the forecast period. China has the largest concentration of kojic acid producers and has held this position for several years.

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Key Players

Sansho Seiyaku
Hubei Artec Biotechnology Co
Xian Hao-Xuan Bio-tech Co
Syder
Sichuan Huamai Technology Co
Hubei Hongjing
Chengdu Jinkai
Hubei Xinxinjiali Bio-Tech
Kose Corporation
Triveni Interchem
Hubei Xiangxi Chemical

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The 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

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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