According to the latest report by IMARC Group, titled “Salicylic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global salicylic acid market size reached US$ 420.2 Million in 2022. Salicylic acid is a versatile organic compound that is widely recognized for its significant applications across various industries. It is derived from the bark of willow trees and is widely used in various skincare and pharmaceutical products. It is highly regarded for its exfoliating and acne-fighting properties. It penetrates the skin and aids in unclogging pores by breaking down dead skin cells and excess oil. This results in an effective ingredient in treating acne, blackheads, and whiteheads. Additionally, salicylic acid possesses anti-inflammatory properties, which can help minimize redness and swelling associated with acne. It is also used as a key ingredient in some over-the-counter and prescription medications.
Global Salicylic Acid Market Trends:
The increasing prevalence of skin disorders, such as acne, psoriasis, seborrheic dermatitis, and warts, is driving the global market. Moreover, the rising consumer preference for natural and organic products is contributing to the growth of the market. Apart from this, the escalating demand for cosmetics, including facial cleansers, toners, serums, and spot treatments containing salicylic acid, is fueling the growth of the salicylic acid market worldwide. Besides, the proliferation of e-commerce platforms and online retail channels, along with the advent of home delivery models are creating a positive market outlook. Furthermore, continual advancements in formulation technologies, including enhanced delivery systems, such as the introduction of microencapsulation and nanoemulsions, improve the stability, efficacy, and targeted delivery of salicylic acid, are providing a boost to the market. Besides, the growing collaboration between different industries, including skin care, pharmaceuticals, and cosmetics, leads to the development of innovative products incorporating salicylic acid, which is impacting the market favorably. The market is further driven by inflating disposable income levels of the masses and extensive research and development (R&D) activities. Looking forward, the market value is projected to reach US$ 613.1 Million by 2028, expanding at a CAGR of 6.7% during 2023-2028.
- Based on the application, the market has been segmented into pharmaceuticals, personal care, food & preservatives, and others. Currently, pharmaceuticals represent the largest market segment.
- Region-wise, the market has been bifurcated into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Among these, Asia Pacific holds the leading position in the market.
- On assessing the import and export scenario of the market, it is found that India and China are the biggest importer and exporter of salicylic acid, respectively.
- The competitive landscape of the market has also been examined, with some of the key players being Alfa Aesar (Thermo Fisher Scientific), Alta Laboratories Limited, JM Loveridge Limited, Novacap, Inc., Sigma-Aldrich Chemicals Private Limited and Siddharth Carbochem Products Limited.
|Base Year of the Analysis
||Europe, North America, Asia Pacific, Latin America, Middle East and Africa
||Alfa Aesar (Thermo Fisher Scientific), Alta Laboratories Limited, JM Loveridge Limited, Novacap, Inc., Sigma-Aldrich Chemicals Private Limited and Siddharth Carbochem Products Limited
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