Benzoyl Peroxide Market - By Quality Index ; By End users ; By Appearance ; & By Geography – Forecast (2024 - 2030)

Report Code: CMR 0997 Report Format: PDF + Excel

Benzoyl Peroxide Market Overview:

Benzoyl Peroxide market size is forecast to reach $462.5 million by 2030, after growing at a CAGR of 3.56% during 2024-2030. Benzoyl peroxide is a versatile industrial chemical with widespread applications, including its use as an antibiotic and in various bleaching processes such as floor, hair, teeth, and textile bleaching. However, its primary application lies in the pharmaceutical sector, specifically in the treatment of acne when combined with antibiotics. The prevalence of acne is a significant driver of the demand for benzoyl peroxide. According to the American Academy of Dermatology, approximately 50 million Americans suffer from acne annually, with nearly 85% of individuals aged 12 to 24 affected. The occurrence of acne in adults is also on the rise, impacting up to 15% of women globally at least once in their lives. Benzoyl peroxide's efficacy in reducing acne-causing bacteria makes it a prescribed treatment for this skin condition. The escalating number of acne cases, influenced by factors such as genetics, sensitive skin, stressful lifestyles, and increasing obesity rates, particularly in North America, contributes to a growing demand for benzoyl peroxide. As a result, the benzoyl peroxide market is witnessing numerous opportunities, driven by the rising population and the expanding need for effective acne treatments. These are factors like genetic predisposition, sensitive skin, stress, and obesity that contribute to the rising demand in the forecast year.

Market Snapshot: 


Report Coverage

The report: “Benzoyl Peroxide Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Benzoyl Peroxide Industry.

By Quality Index: Reagent grade, Food grade, Industrial grade, and Others

By Appearance: Powder, Grain, Crystal, Paste

By End Users: Chemical and Plastic Industry (Specialty Chemicals, Chemical polymers, Chemicals and plastics, Composite, Plastics and polymers industry, Polymer synthesis, Polymerization, Polymerization initiator, Polymers), General Industry (Composites), Building and Construction (Adhesives and sealants), Automotive and transportation (Adhesives and sealants, Polymer and rubber), and Others.

By Geography: North America, Europe, Asia-Pacific, South America, Rest of the World

Key Takeaways

•  North America witnessed the highest growth in the Benzoyl Peroxide market share of 32% in 2023. The demand for Benzoyl Peroxide in the North American region is driven by its effectiveness as a bleaching agent in processed food items.
•  Benzoyl peroxide is a widely used ingredient in skincare products, particularly in the treatment of acne. The market has been influenced by the increasing global concern about skincare and the demand for effective solutions for acne-related issues.
•  Benzoyl peroxide is utilized in both pharmaceutical and cosmetic industries. It is commonly found in over-the-counter acne treatments, prescription medications, and cosmetic products. The market is influenced by the demand from these sectors.

Benzoyl Peroxide Market Segment Analysis - By Industrial Grade
The Industrial Grade segment held the largest share of 37% in the Benzoyl Peroxide market in 2023. The Industrial Grade segment dominates the Benzoyl Peroxide market, claiming the largest market share. This supremacy is attributed to its versatile applications in the chemical and plastics industry, serving as polymerization initiators, bleaching agents, and cross-linking agents. The demand for industrial-grade Benzoyl Peroxide is notably propelled by flourishing sectors such as paints, coatings, and adhesives. Its pivotal role in these industries underscores its indispensability, contributing to sustained market growth. As these sectors continue to expand, the demand for Benzoyl Peroxide in Industrial Grade is expected to persist, driving the overall market forward.

Benzoyl Peroxide Market Segment Analysis - By Application
The Chemical and Plastics Industry held a significant share of 41.4% in the Benzoyl Peroxide market in 2023. The Benzoyl Peroxide market is experiencing significant growth driven by diverse applications in the Chemical and Plastics industry. Escalating demand for effective acne treatments, particularly among teenagers and young adults, is a key catalyst propelling market expansion. The surge in population and increased disposable income in developing nations further accentuates the need for robust acne solutions, thereby boosting the Benzoyl Peroxide market. Additionally, the compound's role as a polymerization initiator in plastics and polymer production enhances its market prospects. With the polymers market, especially in packaging, witnessing substantial growth, Benzoyl Peroxide finds increased utilization, presenting lucrative opportunities for market players. For instance, according to Invest India, The Indian packaging market is projected to reach $204.81 Bn by 2025 with a CAGR of 26.7%. Despite low paper consumption, favorable demographics, rising incomes, and demand for processed food drive plastic packaging growth. As a result, the demand for benzoyl peroxide, a key component in plastic packaging production, is poised to surge in tandem with this expansion.

Benzoyl Peroxide Market Segment Analysis - By Geography
North American region held a significant share in the Benzoyl Peroxide market of 32% in 2023. The North American region is poised to experience a substantial surge in revenue during the forecast period, primarily propelled by the escalating consumption of processed food items. Particularly for hard wheat flour, whey, and cheese, Benzoyl peroxide stands out as a preferred bleaching agent. Its effectiveness lies in being a potent oxidizing agent with whitening properties but without maturing effects. This makes it ideal for flour bleaching, where it naturally oxidizes carotenoids, eliminating the yellowish tinge in untreated flour and enhancing its whiteness. Its dry powder form enables gradual flour bleaching over several days, contributing to the desired white appearance and boosting demand. For instance, the robust growth of U.S. processed food product exports, as reported by the United States Department of Agriculture in 2022, exceeding the three-year average at $38.17 billion and 11 million metric tons, underscores an escalating demand in the North American processed food market. This burgeoning demand is a key factor propelling the benzoyl peroxide market, as it is a crucial ingredient in food processing for various applications, contributing to the industry's expansion.

Benzoyl Peroxide Market Drivers

Growing Skincare Industry
The expanding skincare industry is fostering a robust demand for diverse active ingredients, with a notable surge in interest in skin-whitening trends. Benzoyl peroxide, recognized for its mild skin-lightening properties, is increasingly sought after as a key component in various skin-whitening creams and lotions. Consumers are drawn to products that not only address skincare concerns but also contribute to achieving a lighter complexion. This has led to a growing demand for benzoyl peroxide in the skincare market, as individuals seek effective and multifunctional solutions to enhance their skin tone while benefiting from the overall growth in the skincare and personal care sector.

The Increasing Consumption of Cheese
The rising consumption of cheese has led to an increased demand for benzoyl peroxide, a key ingredient in cheese production. Factors such as growing population, changing dietary preferences, and expanding food industry contribute to the heightened need for benzoyl peroxide in the manufacturing process. According to the United States Department of Agriculture (USDA), New Zealand's cheese output soared 7%, reaching 400,000 tons in 2023. A gamut of cheese manufacturers uses benzoyl peroxide as a bleaching agent in flour which largely supports the benzoyl peroxide market. Even though there are other alternatives available in the market, some manufacturers still leverage the bleaching characteristic of benzoyl peroxide for cheese production.

The Demand Influx in the Composites Market 
There has been a perceptible growth in demand for composites as the material is used in various industries that range from aerospace and construction to industrial structures such as storage tanks and even pipelines. Benzoyl peroxide is used as an initiator in the manufacturing of composites. Considering that the future will observe massive growth of aerospace, construction, and industrial sectors, benzoyl peroxide will be continuously used to suffice the demand for composition. 

Benzoyl Peroxide Market Challenges:

Alternatives & Side Effects Hampering the Market Growth
Alternatives such as salicylic acid, niacinamide, glycolic acid, and azelaic acid are disrupting the competitive structure of the benzoyl peroxide market which is becoming a major challenge to the vendors. Additionally, benzoyl peroxide is found to cause side effects such as burning, itching, and peeling to the ones who use it for the treatment of acne. However, physicians and skin specialists are still prescribing the paste to cure skin disease. Moreover, the vendors are reinventing product strategies to provide a harmless solution in the pharmaceutical sector. Apart from this, the marketplace in the construction and industrial sectors is still secured for the vendors in the benzoyl peroxide market.  

Benzoyl Peroxide Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the benzoyl peroxide market. The top 10 companies in the benzoyl peroxide market are Arkema, Taizhou Yuanda Chemical Materials Co.,Ltd,  Jiangsu Peixing Chemical co., Ltd., United Initiators, Galderma, Croda International Plc, Roma Chemical, Anant Pharmaceuticals Pvt. Ltd., Spectrum Chemical, Crown Laboratories, Inc., and Others.

Recent Developments:
  • July 2023, Crown Therapeutics introduces the PanOxyl 10% Benzoyl Peroxide Acne Treatment Bar in response to consumer demand. The dermatologist-tested formula, renowned for its effectiveness, now comes in a convenient bar format. Gentle for daily use on the face and body, it deeply cleanses, fights acne-causing bacteria, unclogs pores, and prevents new breakouts, ensuring clearer, healthier skin.
  • Mar 2022, Galderma introduces TWYNEO Cream, a groundbreaking acne treatment merging 0.1% tretinoin and 3% benzoyl peroxide. Boasting patented microencapsulation technology, this unique 2-in-1 formula, a first of its kind, swiftly addresses moderate to severe facial acne. A remarkable advancement in skincare, revolutionizing acne management with proven efficacy.

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1. Benzoyl Peroxide Market - Overview
    1.1 Definitions and Scope
2. Benzoyl Peroxide Market - Executive Summary
    2.1 Key Trends by Quality Index
    2.2 Key Trends by Appearance
    2.3 Key Trends by End-Use Industry
    2.4 Key Trends by Geography
3. Benzoyl Peroxide Market - Comparative Analysis
    3.1 Company Benchmarking 
    3.2 Global Financial Analysis
    3.3 Market Share Analysis
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Benzoyl Peroxide Market - Start-up Companies Scenario 
    4.1 Key Start-up Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Benzoyl Peroxide Market – Market Entry Scenario Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Benzoyl Peroxide Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porter’s Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Benzoyl Peroxide Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Benzoyl Peroxide Market– By Quality Index (Market Size -$Million/Billion) 
    8.1 Reagent grade
    8.2 Food grade
    8.3 Industrial grade
    8.4 Others 
9. Benzoyl Peroxide Market – By Appearance (Market Size - $Million/$Billion)
    9.1 Powder
    9.2 Grain
    9.3 Crystal
    9.4 Paste 
10. Benzoyl Peroxide Market – By End Users (Market Size - $Million/$Billion)
    10.1 Chemical and Plastic Industry
        10.1.1 Specialty Chemicals
        10.1.2 Chemical polymers
        10.1.3 Chemicals and Plastics
        10.1.4 Composite
        10.1.5 Plastics and Polymers Industry
        10.1.6 Polymer synthesis
        10.1.7 Polymerization
        10.1.8 Polymerization initiator
        10.1.9 Polymers
    10.2 General Industry
        10.2.1 Composites
    10.3 Building and Construction
        10.3.1 Adhesives and sealants
    10.4 Automotive and transportation
        10.4.1 Adhesives and sealants
        10.4.2 Polymer and rubber 
    10.5 Others
11. Benzoyl Peroxide Market – by Geography (Market Size - $Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K.
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia-Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Rest of South America
    11.5 Rest of The World
        11.5.1 Middle East
        11.5.2 Africa
12. Benzoyl Peroxide Market - Entropy
13. Benzoyl Peroxide Market – Industry/Segment Competition Landscape 
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key Companies
        13.1.3 Market Share by Countries – Key Companies
    13.2 Competition Matrix
    13.3 Best Practices for Companies
14. Benzoyl Peroxide Market – Key Company List by Country Premium 
    14.1 Arkema
    14.2 Taizhou Yuanda Chemical Materials Co.,Ltd
    14.3 Jiangsu Peixing Chemical co., Ltd. 
    14.4 United Initiators
    14.5 Galderma 
    14.6 Croda International Plc
    14.7 Roma Chemicals
    14.8 Anant Pharmaceuticals Pvt. Ltd. 
    14.9 Spectrum Chemical
    14.1 0Crown Laboratories, Inc. 

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