Chemical Peel Market: Current Analysis and Forecast (2024-2032)

A chemical peel is a cosmetic procedure used to improve the appearance of the skin on the face, neck, or hands. It involves applying a chemical solution to the skin, which causes it to exfoliate and eventually peel off, revealing smoother, less wrinkled skin underneath. Different types of chemical peels, ranging from superficial to deep, depending on the strength of the solution used and the desired results. The increasing adoption of minimally invasive procedures has led to the market's growth. Several other factors, such as minimal downtime, reduced risk, rising technological advancements, and a surge in company collaborations & partnerships, are driving the chemical peel market globally.

The Chemical Peel Market is expected to grow at a steady rate of around 5.5% owing to the rising number of dermatology clinics set-ups. For instance, in October 2023, Kaya launched a state-of-the-art clinic for beauty and wellness aficionados in Bengaluru, India, with treatments including laser hair removal, dermal fillers, chemical peel, and more. Several factors, including the expanding application areas of chemical peel, are driving the market's growth during the forecast period. Apart from this, improving the affordability and accessibility of chemical peels are also driving this market at a steady rate.

Based on the type, the market is segmented into superficial, medium, and deep peels. The superficial peel segment is expected to grow with a significant CAGR in the forecast period. The superficial peel segment in the chemical peel market refers to a category of relatively mild peels that primarily target the skin's outermost layer, known as the epidermis. They are commonly used to improve skin texture, reduce the appearance of fine lines and wrinkles, lighten hyperpigmentation, and address mild acne or acne scarring. The popularity of superficial peels is rising owing to their effectiveness. For instance, in November 2021, Spa and skincare brand Germaine de Capuccini launched a chemical peel line exclusively for professional use, encouraging superficial peelings to reveal rejuvenated skin. Thus, among the types, the superficial peel is expected to grow with a significant CAGR in the forecast period.

Based on the application, the market is segmented into acne spots, wrinkles, skin brightening, and others. The acne spots segment dominated the market in the year 2023. The acne segment within the market addresses the growing demand for non-surgical treatments to manage acne and improve skin appearance. These treatments typically include a variety of treatments aimed at reducing acne lesions, improving skin texture, and minimizing acne-related scarring. The acne segment within the market offers a range of effective treatments for managing acne and improving skin appearance, catering to the needs of the rising number of individuals seeking non-surgical solutions for acne-related concerns. For instance, according to the American Academy of Dermatology, acne is the most common skin condition in the U.S., affecting up to 50 million Americans annually. Thus, among the applications, the acne spots segment held a significant market share in 2023.

Based on the product, the market is segmented into lactic peel, fruit peel, pigment balancing peel, and others. The fruit peel segment is expected to grow with a significant CAGR in the forecast period owing to its natural-looking results. Fruit peels, also known as fruit enzyme peels, are a type of chemical peel that utilizes natural acids found in fruits to exfoliate and rejuvenate the skin. These peels typically contain alpha hydroxy acids (AHAs) or enzymes derived from fruits such as pineapple, papaya, pumpkin, or citrus fruits. The natural acids in fruit peels help gently dissolve dead skin cells on the skin's surface, promoting a smoother and brighter complexion. They also help to lighten hyperpigmentation and dark spots, resulting in a more even skin tone. Some fruit enzymes have hydrating properties, helping to moisturize the skin and improve its overall texture. Fruit peels can stimulate collagen production, leading to firmer, more youthful-looking skin with regular use. They are generally milder than chemical peels containing more potent acids like glycolic acid or salicylic acid, making them suitable for sensitive skin types. Thus, the fruit peel category is expected to grow with a significant CAGR in the forecast period.

For a better understanding of the market adoption of chemical peel, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is dominating the market in the current scenario of 2023 due to the advancements in technology, rising product launches, and rising company collaborations & acquisitions. For instance, in August 2023, U.S.-based PureTech Scientific LLC acquired the Glycolic Acid business from the Chemours Company for USD 137 million, making PureTech Scientific a global leader in the organic synthesis of ultra-high purity alpha hydroxy acids for the Life Sciences and Specialty Chemical industries. Other factors, such as the rising adoption of non-invasive procedures and improving affordability and accessibility, are propelling the growth of the market in the region. Thus, amongst regions, North America held a significant share of the market in 2023.

Some of the major players operating in the market include Image International Manufacturing, LLC, Dermalogica, Renee Rouleau Inc., L'Oreal Paris, Lasermed, AbbVie, Glytone, Galderma, Teoxane, Topix Pharmaceuticals, Inc.