Report Code: CMI22241

Published Date: January 2023

Pages: 220+

Category: Chemicals And Materials

Report Snapshot

CAGR: 2%
60M
2021
62M
2022
75M
2030

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: North America

Major Players

  • Sansho Seiyaku
  • Hubei Artec Biotechnology Co
  • Xian Hao-Xuan Bio-tech Co
  • Syder
  • Others

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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

Feature of the Report Details
Market Size in 2021 USD 60 Million
Projected Market Size in 2030 USD 75 Million
Market Size in 2022 USD 62 Million
CAGR Growth Rate 2% CAGR (2022-2030)
Base Year 2023
Forecast Period 2024-2033
Prominent 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, and Others
Key Segment By Grade, End-user, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

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.

Global Kojic Acid Market 2022–2030 (By Million)

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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.

Global Kojic Acid Market 2022–2030 (By End-User)

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  • 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

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Kojic Acid Market, (2022 – 2030) (USD Million)
    • 2.2 Global Kojic Acid Market : snapshot
  • Chapter 3. Global Kojic Acid Market – Industry Analysis
    • 3.1 Kojic Acid Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Consumption of skincare products
      • 3.2.2 The adoption of a sustainable diet.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Grade
      • 3.7.2 Market attractiveness analysis By End-user
  • Chapter 4. Global Kojic Acid Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Kojic Acid Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Kojic Acid Market – Grade Analysis
    • 5.1 Global Kojic Acid Market overview: By Grade
      • 5.1.1 Global Kojic Acid Market share, By Grade, 2021 and 2030
    • 5.2 Pharmaceutical Grade
      • 5.2.1 Global Kojic Acid Market by Pharmaceutical Grade, 2022 – 2030 (USD Million)
    • 5.3 Cosmetic Grade
      • 5.3.1 Global Kojic Acid Market by Cosmetic Grade, 2022 – 2030 (USD Million)
    • 5.4 Food Grade
      • 5.4.1 Global Kojic Acid Market by Food Grade, 2022 – 2030 (USD Million)
    • 5.5 Others
      • 5.5.1 Global Kojic Acid Market by Others, 2022 – 2030 (USD Million)
  • Chapter 6. Global Kojic Acid Market – End-user Analysis
    • 6.1 Global Kojic Acid Market overview: By End-user
      • 6.1.1 Global Kojic Acid Market share, By End-user, 2021 and 2030
    • 6.2 Pharmaceuticals
      • 6.2.1 Global Kojic Acid Market by Pharmaceuticals, 2022 – 2030 (USD Million)
    • 6.3 Food & Beverage
      • 6.3.1 Global Kojic Acid Market by Food & Beverage, 2022 – 2030 (USD Million)
    • 6.4 Cosmetics & Personal Care
      • 6.4.1 Global Kojic Acid Market by Cosmetics & Personal Care, 2022 – 2030 (USD Million)
    • 6.5 Others
      • 6.5.1 Global Kojic Acid Market by Others, 2022 – 2030 (USD Million)
  • Chapter 7. Kojic Acid Market – Regional Analysis
    • 7.1 Global Kojic Acid Market Regional Overview
    • 7.2 Global Kojic Acid Market Share, by Region, 2021 & 2030 (USD Million)
    • 7.3. North America
      • 7.3.1 North America Kojic Acid Market, 2022 – 2030 (USD Million)
        • 7.3.1.1 North America Kojic Acid Market, by Country, 2022 – 2030 (USD Million)
    • 7.4 North America Kojic Acid Market, by Grade, 2022 – 2030
      • 7.4.1 North America Kojic Acid Market, by Grade, 2022 – 2030 (USD Million)
    • 7.5 North America Kojic Acid Market, by End-user, 2022 – 2030
      • 7.5.1 North America Kojic Acid Market, by End-user, 2022 – 2030 (USD Million)
    • 7.6. Europe
      • 7.6.1 Europe Kojic Acid Market, 2022 – 2030 (USD Million)
        • 7.6.1.1 Europe Kojic Acid Market, by Country, 2022 – 2030 (USD Million)
    • 7.7 Europe Kojic Acid Market, by Grade, 2022 – 2030
      • 7.7.1 Europe Kojic Acid Market, by Grade, 2022 – 2030 (USD Million)
    • 7.8 Europe Kojic Acid Market, by End-user, 2022 – 2030
      • 7.8.1 Europe Kojic Acid Market, by End-user, 2022 – 2030 (USD Million)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Kojic Acid Market, 2022 – 2030 (USD Million)
        • 7.9.1.1 Asia Pacific Kojic Acid Market, by Country, 2022 – 2030 (USD Million)
    • 7.10 Asia Pacific Kojic Acid Market, by Grade, 2022 – 2030
      • 7.10.1 Asia Pacific Kojic Acid Market, by Grade, 2022 – 2030 (USD Million)
    • 7.11 Asia Pacific Kojic Acid Market, by End-user, 2022 – 2030
      • 7.11.1 Asia Pacific Kojic Acid Market, by End-user, 2022 – 2030 (USD Million)
    • 7.12. Latin America
      • 7.12.1 Latin America Kojic Acid Market, 2022 – 2030 (USD Million)
        • 7.12.1.1 Latin America Kojic Acid Market, by Country, 2022 – 2030 (USD Million)
    • 7.13 Latin America Kojic Acid Market, by Grade, 2022 – 2030
      • 7.13.1 Latin America Kojic Acid Market, by Grade, 2022 – 2030 (USD Million)
    • 7.14 Latin America Kojic Acid Market, by End-user, 2022 – 2030
      • 7.14.1 Latin America Kojic Acid Market, by End-user, 2022 – 2030 (USD Million)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Kojic Acid Market, 2022 – 2030 (USD Million)
        • 7.15.1.1 The Middle-East and Africa Kojic Acid Market, by Country, 2022 – 2030 (USD Million)
    • 7.16 The Middle-East and Africa Kojic Acid Market, by Grade, 2022 – 2030
      • 7.16.1 The Middle-East and Africa Kojic Acid Market, by Grade, 2022 – 2030 (USD Million)
    • 7.17 The Middle-East and Africa Kojic Acid Market, by End-user, 2022 – 2030
      • 7.17.1 The Middle-East and Africa Kojic Acid Market, by End-user, 2022 – 2030 (USD Million)
  • Chapter 8. Company Profiles
    • 8.1 Sansho Seiyaku
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Hubei Artec Biotechnology Co
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Xian Hao-Xuan Bio-tech Co
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Syder
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Sichuan Huamai Technology Co
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Hubei Hongjing
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Chengdu Jinkai
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Hubei Xinxinjiali Bio-Tech
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Kose Corporation
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Triveni Interchem
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Hubei Xiangxi Chemical.
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
List Of Figures

Figures No 1 to 22

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component
  • List of the prominent players in the global Kojic Acid market:

    • 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
    • Others

FAQs

“Asia Pacific” region will lead the global Kojic Acid market during the forecast period 2022 to 2030.

The key factors driving the market are Consumption of skincare products and the adoption of a sustainable diet.

The key players operating in the Kojic Acid market are 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.

The global Kojic Acid market is expanding growth with a CAGR of approximately 2% during the forecast period (2022 to 2030).

The global Kojic Acid market size was valued at USD 60 Million in 2021 and it is projected to reach around USD 75 Million by 2030.

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