What is Global Glabridin Market?
The Global Glabridin Market is a fascinating and complex sector of the global economy. Glabridin is a chemical compound extracted from the root of the licorice plant, known for its beneficial properties in skincare and pharmaceuticals. The market for this compound is vast and varied, with a global value of US$ 19 million in 2023. It's projected to reach a value of US$ 26 million by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2024 to 2030. This growth is driven by the increasing demand for natural and organic ingredients in cosmetics and pharmaceuticals, as well as the growing awareness of the health benefits of Glabridin.
20% (HPLC), 40% (HPLC), 60% (HPLC), 90% (HPLC), 98% (HPLC), Other in the Global Glabridin Market:
The Global Glabridin Market is segmented based on the purity of the compound, with categories including 20% (HPLC), 40% (HPLC), 60% (HPLC), 90% (HPLC), 98% (HPLC), and others. Each of these segments has its unique market dynamics and growth prospects. For instance, in 2020, the Glabridin 40% HPLC segment was valued at 7778 K USD and is expected to reach 10718 K USD in 2026, growing at a CAGR of 5.49% over the forecast period. This growth is driven by the increasing demand for this purity level in various applications, including cosmetics and pharmaceuticals.
Cosmetic, Pharmaceutical in the Global Glabridin Market:
The Global Glabridin Market finds its primary usage in the cosmetic and pharmaceutical sectors. In cosmetics, Glabridin is used for its skin-lightening and anti-inflammatory properties. It helps in reducing hyperpigmentation and dark spots, making the skin look more radiant and youthful. In the pharmaceutical sector, Glabridin is used for its anti-inflammatory and antioxidant properties. It helps in treating various health conditions, including heart disease, diabetes, and cancer. In 2020, the cosmetic segment accounted for a sales share of 89.17%, indicating the significant role of this sector in driving the global Glabridin market.
Global Glabridin Market Outlook:
In terms of market outlook, the global Glabridin market is expected to witness significant growth in the coming years. In 2020, the Glabridin 40% HPLC segment was valued at 7778 K USD, and it's projected to reach 10718 K USD in 2026, growing at a CAGR of 5.49% over the forecast period. The cosmetic segment, which accounted for a sales share of 89.17% in 2020, is also expected to see substantial growth. In terms of production, China is the largest producer of Glabridin, accounting for 37.85% of the global total in 2019. On the other hand, the United States is the most significant consumer, with consumption accounting for 24.28% of the global total in 2019.
| Report Metric | Details |
| Report Name | Glabridin Market |
| Accounted market size in 2023 | US$ 19 million |
| Forecasted market size in 2030 | US$ 26 million |
| CAGR | 4.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Sabinsa, Alchem International, MAFCO, Plamed Green Science Group, Xi'an Zhongying, Spring Autumn Biological, Huaian Brothers Biotechnology, Xi’an Tianye Biotech, Maruzen Pharmaceuticals, SK Bioland, Sunpure Extracts |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
