According to a new report published by Acumen Research and Consulting titled “Salicylic Acid Market (By Application: Pharmaceuticals [Wart Remover, Disinfectant, Antifungal, Dentifrices, Antiseptic, Anti-irritant, Scale lifter, Ointment]; Skin Care [Moisturizer, Sunscreen, Acne Solution], Hair Care [Conditioner, Shampoo], Food Preservatives) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”, the global market for salicylic acid is estimated to grow at a significant rate and reach the market value of over $620 million by 2026. Among the major factors responsible for this astounding growth are booming personal care and cosmetics industry in emerging economies of Asia Pacific, and Latin America. Also, the increased awareness regarding the medicated cosmetic products globally supports the growth of salicylic acid. In addition, the usage of salicylic acid in the treatment of skin and hair related problems such as acne and dandruff boosts the growth of salicylic acid market worldwide. Moreover, the rising demand for aspirin drug drives the growth of salicylic acid market globally.
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Salicylic acid are drugs that are produced naturally from sources such as salix and white willow and thus are considered a natural remedy for acne and dandruff removal. Salicylic acid are also produced synthetically by carbon dioxide and sodium phenolate.
Salicylic acid market growth is likely to be hindered owing to the issues such as skin irritation, rashes, headache, and dizziness. Moreover, the ban by the European authorities on the usage of preservatives in manufacturing of food & beverages products is also projected to hamper the market growth for salicylic acid during the forecast period. However, the manufacturers of salicylic acid are likely to witness growth opportunities in coming five years owing to the increased adoption of processed food in Asia Pacific region.
Asia-Pacific is anticipated to be the most lucrative market for salicylic acid to throughout the forecast period on account of rising awareness towards use of medicated cosmetics. Moreover, the increased consumption of processed food in the region also supports the growth of salicylic acid. Countries such as India, China and Australia are likely to be major hub for cosmetic products in coming five years owing to the improved standard of living, rise in the purchasing power and increased awareness regarding skin care problems. Asia is anticipated to hold 70% of the share of the global cosmetic industry by 2020, thereby paving growth ways for salicylic acid market during the forecast period.
Countries such as Brazil, Colombia, Chile and Mexico are likely to attract the manufacturers of salicylic acid in coming five years owing to the growing beauty industry in the region.
Asia Pacific to be the most attractive market for salicylic acid during the forecast period
The market for salicylic acid has been segmented by region as North America, Europe, Asia Pacific and Rest of the World. North America was the largest market for salicylic acid in 2013 due the matured processed food industry in countries such as U.S. and Canada. Also, the continuous use of salicylic acid for acne treatment supported the growth of salicylic acid in the region. However, Asia Pacific is anticipated to be the fastest growing market for salicylic acid during the forecast period due the growing awareness regarding the use of salicylic acid as medicated cosmetic. The growth of salicylic acid is also supported by the boom in the personal care and cosmetic industry in countries such as India, China, Taiwan, and Australia.
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Skin careto be the most lucrative application of salicylic acid
Salicylic acid market has been segmented based on application such as pharmaceuticals, skincare, hair care, and food preservatives. Wart remover, disinfectant, antifungal, dentifrices, antiseptic, anti-irritant, scale lifter, ointment are the sub-segments of pharmaceutical segment. Moisturizer, sunscreen, and acne solution are the sub-segment of skincare segment, whereas conditioners and shampoos are the sub-segments for haircare segment. The skin care segment is expected to be the most attractive market during the forecast period owing to its increased awareness regarding the use of salicylic acid in the treatment of skin related problems.
Some of the leading companies operating in salicylic acid market include Alfa Aesar, Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Alta Laboratories Ltd., Shandong Xinhua Longxin Chemical Co. Ltd., Hebei Jingye Group, Siddharth Carbochem Products Ltd., Simco QC, and Novacap, J.M. Loveridge Ltd. These key players have adopted the strategies such as new product launch and expansion in order to compete in the global salicylic acid market.
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