Pharmaceuticals Application Dominated the Salicylic Acid Market in 2022
According to Custom Market Insights (CMI), the Global Salicylic Acid Market trends was estimated at USD 420 million in 2021 and is anticipated to reach around USD 810 million by 2030, growing at a CAGR of roughly 7% between 2022 and 2030. Our research report offers a 360-degree view of the Salicylic Acid market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Salicylic Acid market.
Salicylic Acid Market: Overview
Salicylic acid is a naturally occurring beta hydroxy acid found in plants. Salicylic acid, often known as ortho hydroxybenzoic acid in the chemical world, is a phenolic acid having the formula C7H6O3. It can be extracted naturally from salix and willow trees or synthetically made using sodium phenolate and carbon dioxide. It is a completely white, crystalline, odorless, and moderately water-soluble chemical. Because it can encourage exfoliation, it has a direct anti-inflammatory effect and is a topical antibacterial agent. Salicylic acid has comedolytic, keratolytic, anti-microbial, and fungicidal characteristics, among other effects. 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.
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Growth Factors
Through 2030, rising packaged food and beverage demand will propel the salicylic acid market’s expansion. Salicylic acid, which helps stop the fermentation and rotting of packaged food goods, has seen a surge in sales in the food and beverage industries. Furthermore, salicylic acid is also becoming more popular in the personal care and cosmetics sectors thanks to its anti-oxidation properties. The number of persons with acne, warts, blackheads, whiteheads, and zits is predicted to increase, which will increase the demand for cosmetics containing salicylic acid. Furthermore, the salicylic acid market is anticipated to grow throughout the projected period due to improvements in personal care products.
A vital ingredient in the creation of aspirin is salicylic acid. Aspirin is one of the most often prescribed pharmaceutical drugs in the world because of its exceptional pain-relieving abilities and accessibility. As a result, it is projected that the increasing demand for salicylic acid will support the expansion of the salicylic acid market forecast.
The demand for this medication is also being fueled by the fact that it is increasingly being used to both prevent and treat illnesses like dementia and strokes, particularly among the elderly. Also, being a comedolytic, salicylic acid stops the growth of new whiteheads and blackheads. Due to these advantageous features, demand for salicylic acid is skyrocketing, which is boosting sales of the substance.
Segmental Overview
The market for Salicylic Acid is segmented into gender and application. Based on application, in 2021, the pharmaceuticals application had the highest revenue share. Due to the rising usage of medications based on salicylic acid for the treatment of various skin conditions, cardiovascular diseases, and Hughes syndrome, the pharmaceutical sector has dominated the market. Salicylic acid is increasingly being used to treat various disorders due to technological advancements and research efforts in the medical field.
Also, the food and preservatives segment is anticipated to show a high CAGR during the forecast period. Market demand is anticipated to rise as salicylic acid, and its derivatives are increasingly used in the food and beverage sector to stop fermentation and spoiling. The demand for salicylic acid products is also anticipated to increase due to the expanding usage of salicylic acid as a preservative to extend the shelf life of goods, including sauces, beer, and wine. Salicylic acid is expected to see growth as a result of the tendency toward retail shopping in developed nations around the world, which has significantly affected food processing firms’ efforts to extend the shelf life of their products.
Regional Overview
In 2021, the Asia Pacific region was in a leading position, and during the forecast period, it is expected to grow at the fastest rate. Salicylic acid is in high demand, which has resulted in the creation of shampoos, lotions, creams, moisturizers, and dental care items. China, Japan, and India are the main drivers of this region’s expansion. The region’s salicylic acid market is being driven by rising pharmaceutical industry production of salicylic acid derivative goods, and widespread dermatological conditions use of salicylic acid.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 420 Million |
| Projected Market Size in 2030 | USD 810 Million |
| Market Size in 2022 | USD 463 Million |
| CAGR Growth Rate | 7% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Material, End-User, and Region |
| 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 South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Competitive Landscape
To meet the rising demand for salicylic acid, industry players are concentrating on increasing their market presence in numerous nations and regions. The salicylic acid market is experiencing increased expansion across the globe as a result of the fierce competition that is driving product innovation.
Our market analysis includes a section specifically devoted to key players operating in the Salicylic Acid market. Our analysts give an overview of each player’s financial statements, along with product benchmarking and SWOT analysis. The competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of the mentioned competitors globally.
- 2022: With a 400,000-customer waitlist, The Ordinary is debuting its salicylic acid serum. With a new formula, the Salicylic Acid 2% Solution from the company will be relaunched.
Some of the prominent players
- Seqens International
- Alfa Aesar
- Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
- JM Loveridge Limited
- Hebei Jingye Group
- Huayin Jinqiancheng
- Siddharth Carbochem Products Ltd
- Alta Laboratories
- Novocap
- Zhenjiang Gaopeng Pharmaceutical
- Hebei Jingye
- Simco Chemicals
- Shandong Xinhua Longxin
- Others
The global Salicylic Acid market is segmented as follows:
By Grade
- Pharmaceutical
- Industrial
By Application
- Pharmaceuticals
- Food and Preservatives
- Cosmetics
- Others
By Region
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America