The global salicylic acid market is poised for substantial growth, with a projected CAGR of 6.9% from 2022 to 2032, reaching a valuation of USD 814.2 million by the end of the forecast period. This growth is driven by increasing demand from various industries, including cosmetics, pharmaceuticals, and food preservation.
Salicylic acid sales are rising as consumers become more aware of the many advantages the substance offers.
The demand for salicylic acid is fueled by several factors, including the growth of the cosmetics industry, rising consumer awareness of its benefits, and its widespread availability in aspirin tablets. Additionally, the increasing prevalence of age-related skin ailments and health issues further contributes to the demand for salicylic acid-based products.
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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.
Growing Factors:
- Cosmetics Industry Surge: Salicylic acid is gaining prominence in the cosmetics industry, particularly in acne-fighting skincare products. The evolving consumer preferences and the rising demand for skincare solutions have propelled the market for salicylic acid-based cosmetics.
- Food and Preservatives Sector: Salicylic acid’s role as a preservative in the food and beverage industry is driving market growth. With increasing demand for packaged foods and beverages, the utilization of salicylic acid as a preservative is expected to rise, further fueling market expansion.
- Regional Dynamics: Regions like South America, particularly Brazil, are emerging as key markets for salicylic acid production and consumption. The region’s growing industrialization and demand for skincare products contribute to its significance in the global market.
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.
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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.
Key Takeaway for Investors:
- Lucrative Growth Prospects: The salicylic acid market presents lucrative opportunities for investors, with a projected CAGR of 6.9% and a valuation of $814.2 million by 2032. Investment in companies involved in salicylic acid production and its diverse applications across industries can yield significant returns.
- Diverse Applications: Salicylic acid finds applications in various industries, including cosmetics, pharmaceuticals, and food preservation. Investors can capitalize on the growing demand for salicylic acid-based products by targeting companies operating in these sectors.
- Market Expansion Strategies: Companies in the salicylic acid market are focusing on expanding their market presence through product innovation and geographical expansion. Investors should assess companies’ strategies for market expansion and their ability to penetrate key regions effectively.
- Regional Opportunities: Regions like the United States, Canada, the United Kingdom, and China offer significant growth opportunities in the salicylic acid market. Investors should explore opportunities in these regions to maximize their investment potential.
- Technological Advancements: Advancements in skincare products and pharmaceutical formulations are driving the demand for salicylic acid. Investors should monitor technological developments and innovations in the industry to stay ahead in the market.
Purchase now and gain full access to the Salicylic Acid Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
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
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