ph Adjuster Market size was over USD 1.33 billion in 2023 and is set to cross USD 3.02 billion by 2036, growing at more than 6.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ph adjuster is estimated at USD 1.4 billion. The primary growth factor of the pH adjuster market is the growth of pharmaceutical industry. The high utilization of pH adjusters in pharmaceutical processes is expected to expand the pH adjuster market size in the upcoming years. As per recent estimates it was revealed that the pharma revenues generated worldwide in 2020 was totaled to be USD 1.30 trillion.
The pH adjuster is generally used to maintain the acidity or alkalinity of a solution or any end-use product. When materials go under process of becoming final goods, there are high chances of them becoming overly alkaline and acidic, thus generating the need of pH adjuster to keep the finished product stable and efficient. The high production of medicines is expected to rise the demand of pH adjusters to determine the stability of medications, the biological tolerability and activity of the molecule. Thus, the increased rate of medicine consumption is projected to expand the pH adjuster market in the forecast period. The global use of medicine has increased with a CAGR of 3%. Further, it was found that approximately 66% of adult Americans have taken prescribed drugs in 2021.
Growth Drivers
High Expenditure on Medicines – The global spending on medicines is estimated to grow considerably. In 2021, the global expenditure on medicines was calculated to be USD 1.42 trillion, a rise from just USD 890 billion in 2010. This number is further projected to rise to nearly USD 1.8 trillion in the year 2026.
Growth in Beauty and Cosmetic Industry - The products in the beauty and cosmetic sector, such as lotions, shampoos, skin and hair products, require a balanced pH level so that they don’t harm our skin. Thus, the recent boom in the beauty sector is anticipated to garner high revenues for the pH adjuster market. A recent study revealed that the global beauty industry is projected to generate a revenue of USD 716 billion by 2025.
Boom in the Chemical Industry – In the year 2021, the chemical industry globally generated a revenue of USD 4.73 trillion.
Burgeoning Population – The rise in population and disposable income is expected to increase the adoption rate of pH adjusters for some better daily-use products. As per the World Bank, the population of world was accounted to be 7.84 billion in 2021. This is a considerable rise from the year 2012 with a total population of 7.09 billion.
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.5% |
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Base Year Market Size (2023) |
USD 1.33 billion |
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Forecast Year Market Size (2036) |
USD 3.02 billion |
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Regional Scope |
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The pH adjuster market is segmented and analyzed for demand and supply by end user into textile & leathers, agrochemical, pharmaceutical, cosmetics & personal care, surfactants, and others. Out of these, the cosmetics & personal care segment is estimated to garner the highest revenue by 2036, owing to high utilization of beauty products worldwide. According to a 2017 study, American women spend ~USD 8 per day on makeup and apply a minimum of 16 makeup products to their faces before leaving the house for the day. Further, the high employment rate in the beauty industry is estimated to increase the usage of pH adjuster in the future. It was estimated that in 2021, the total number of employees employed in the U.S. beauty and cosmetic industry was 54,500. This number is estimated to rise significantly to 56,000 in 2022.
Our in-depth analysis of the market includes the following segments:
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By Type |
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By Application |
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By End User |
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Regionally, the global pH adjuster market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is set to account for largest revenue share by 2036, as high disposable income in the region has prompted the population to adopt pH adjuster for better results. The high disposable income in the region has prompted the population to adopt pH adjuster for better results. A recent statistics showed that the U.S. had a total of USD 16 trillion in disposable personal income in 2021. Further, the per capita personal disposable personal income was USD 47,800 in that same year. Further, the growing usage of cosmetic products in the region is another growth factor for the market. As per a recent study in 2022, around USD 50 billion is generated by cosmetic sales in the United States each year.
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Author Credits: Rajrani Baghel
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