Breaking Down the Salicylic Surge: Unveiling Market Trends and Growth Forecasts
The global salicylic acid market is expected to be valued at US$ 417.8 million in 2022 and US$ 814.2 million by 2032, with a CAGR of 6.9% from 2022 to 2032.
Sales of salicylic acid are increasing as more people become aware of all the benefits the chemical provides.
Salicylic acid demand is expected to increase as more people use ointments that include salicylic acid derivatives like methyl and chlorine salicylate. The demand for packaged foods and beverages is expected to rise through 2032, driving the salicylic acid market’s expansion.
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Salicylic acid sales have expanded in the food and beverage industries, where it helps prevent fermentation and rotting of packaged food goods.
Demand for cosmetics containing salicylic acid is anticipated to rise as the number of persons with acne, warts, blackheads, and whiteheads increases.
Additionally, it is anticipated that the salicylic acid market size would increase over the course of the projection period due to recent advancements in personal care products.
A crucial component used in the production of aspirin is salicylic acid. Due to its exceptional pain-relieving abilities and accessibility, aspirin is one of the pharmaceutical drugs that are most frequently given worldwide.
Key Takeaways from Market Study
The global salicylic acid market is expected to expand at CAGRs of 6.9% and over forecasted period.
The European salicylic acid market currently holds one fourth market share globally. U.K., Germany are key countries contributing to growth of European market.
The market is being improved by the premiumization and re-invention of skin care products and hair care products.
Asia Pacific region is set to witness utmost growth, owing to increase productions as well as consumption in countries such as China, India, and Japan.
Pharma Grade salicylic acid holds dominant market share of the total Salicylic Acid market in 2022
North America top revenue generating region, which holds more than 28% of market share in 2022 and anticipated to grow by 6.1% in future.
“Salicylic acid based cleansing lotions, bathing bars, serum, peeling solutions, creams, toners are a few forms influencing the sales of salicylic acid during the forecast period.” – Future Market Insights Analyst.
Competitive Landscape
Key manufacturers of salicylic acid are majorly focusing on research & development to enhance the variety, quality, and innovation in their product specification.
Some of the key companies producing are JM Loveridge Limited, Alfa Aesar, Siddharth Carbochem Products Ltd, Alta Laboratories Ltd, Novacap and Sigma Aldrich etc.
Recent Developments in the Salicylic Acid Market:
In May 2019, the skincare brand The Ordinary released an innovative face mask, Salicylic Acid 2 percent Masque, for EUR 9.90. Salicylic acid is a key ingredient in the product, as are charcoal and clays, which aid in deep cleansing of the skin.
The Salicylic Acid 2 percent Solution, named after the most sought-after acne-fighting ingredient, has made a comeback this month on deciem.com and in Ordinary stores.
Sweet Chef has created pimple patches that contain decongesting salicylic acid, resurfacing carrot, and brightening ginger to treat inflamed skin while minimizing post-acne hyperpigmentation.
Beyond Treating Acne and Preserving Food, Salicylic Acid’s Untapped Potential :
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Salicylic acid market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Salicylic Acid Market by Category
By Form:
Liquid
Powder
By End Use Application:
Pharmaceutical
Skin Care
Hair Care
Food Preservatives & Others
Others (Dye Industry etc.)
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle east and Africa
