Newark, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The Salicylic acid market was estimated at around USD 430.2 million in 2021, growing at a CAGR of nearly 8.1% during 2022-2030. The market is projected to reach approximately USD 862.6 million by 2030.
Salicylic acid is a naturally occurring beta hydroxy acid that is found in plants. Salicylic acid, also referred to as orthohydroxybenzoic acid in the chemical world, is a phenolic acid. It can be produced artificially using sodium phenolate and carbon dioxide, or it can be obtained naturally from salix and willow plants. It is a chemical that is completely white, crystalline, odorless, and only slightly water soluble. Due to its ability to promote exfoliation, it has a direct anti-inflammatory effect and serves as a topical antibacterial agent. Salicylic acid also has comedolytic, anti-microbial, keratolytic, and fungicidal properties. Salicylic acid is used in medicine, most notably in the form of salicylate, to treat rheumatic and gouty illnesses in addition to being used to produce aspirin and as a food preservative. Salicylic acid's demand is rising as it is used more frequently to treat and prevent illnesses including dementia and strokes, especially in the elderly. The prevalence of warts, pimples, whiteheads, and blackheads is predicted to increase demand for cosmetics containing salicylic acid.
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Growth Factors
Due to salicylic acid's antibacterial properties, food and preservatives are industry where it is highly demanded. In the food sector, salicylic acid is widely utilized as a food preservative. Consequently, it is anticipated that in the near future, the demand for salicylic acid would increase due to food and other applications. The salicylic acid market will rise throughout 2030 due to rising demand for packaged meals and beverages. Salicylic acid, which helps stop the fermentation and spoiling of packaged food goods, has seen a spike in sales in the food and beverage industries, which is mostly to thank.
Salicylic acid is also a crucial component in the production of aspirin. Due to its outstanding pain-relieving abilities and accessibility, aspirin is one of the most frequently prescribed pharmaceutical drugs in the world. The demand for this medicine is also being driven by its growing usage in the treatment and prevention of illnesses including dementia and strokes, particularly in the elderly.
Salicylic acid, a multipurpose chemical that treats many of the systemic causes of blemishes, is increasingly being used in the treatment of acne and associated cosmetics. Salicylic acid is being used more frequently, and the researchers note that it has become a popular substitute for glycolic acid, making it a significant growth factor. Due to the rise in adult customers with acne, the need for cosmetics with anti-acne qualities is currently on the rise. 54% of women over 25 are reported to experience face acne at least occasionally in the Journal of the American Academy of Dermatology. As a result, cosmetic companies are adding acne-fighting qualities to their color cosmetic lines, and companies like Clinique, Almay, Neutrogena, and Lancome now sell foundations that combat acne. Since it has been demonstrated to exfoliate, degrease the skin, reduce inflammation, and enhance the appearance of pores, salicylic acid is being used more commonly as a significant ingredient in skincare products for acne. There is a common misconception that patients with recurring acne should avoid salicylic acid peels because the material interacts negatively with skin, yet this category of uses is still expanding.
Segmental Overview
The market for salicylic acid market is fragmented into the application. Throughout the projected period, pharmaceuticals segment is expected to increase at the quickest rate. This increase is the result of more people using drugs containing salicylic acid to address various skin conditions and cardiovascular issues associated with Hughes syndrome. Salicylic acid is now used more frequently to treat a variety of diseases as a result of new scientific discoveries and technological developments brought about by the expansion of the medical sector.
Regional Overview
In the salicylic acid market, Asia-Pacific represented the largest market share of the whole market. The Asia-Pacific region has one of the largest customer bases and a considerable market share. There is a boom in demand for cosmetics and personal care goods as well as an increase in consumers as a result of increased disposable income, particularly in countries like India, China, and Indonesia among many others. Additionally, market growth is predicted to be supported by rising demand for therapeutic cosmetics and increased use of pharmaceutical therapies based on salicylic acid for conditions like Hughes' disease and dementia.
North America and Europe have some of the most significant markets for salicylic acid. The pharmaceutical businesses are expanding in both regions, which is beneficial to the sector. The pharmaceutical industry in these areas is gaining from growing consumer health awareness and consumerization of healthcare as a result of more readily available data. The salicylic market in these areas, as well as the pharmaceutical industry there, are both benefited by the ageing populations in North America and Europe. Europe is predicted to have the oldest population in the world by 2050, with 34% of the total population being 60 years of age or older. With 28% of the population expected to be 60 or older by 2050, North America is also expected to have a sizable ageing population. The salicylic business benefits from the expanding consumer health care market in both North America and Europe. Due to their superior access to public and private health insurance and comprehensive healthcare systems, the United States of America and Europe are the two largest markets for consumer healthcare items.
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Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Million |
| Salicylic acid Market CAGR | 8.1% |
| Segments Covered | By Application |
List of the prominent players in the Global Salicylic acid market:
• Seqens International
• JM Loveridge Limited
• Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
• Hebei Jingye Group
• Shandong Xinhua Longxin
• Huayin Jinqiancheng
• Siddharth Carbochem Products Ltd
• Alfa Aesar
• Alta Laboratories
• Novocap
The global Salicylic acid market is segmented as follows:
By Application
• Food and Preservatives
• Pharmaceuticals
• Cosmetics
• Others
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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