The global salicylic acid market is expected to be valued at US$ 417.8 million in 2022 and US$ 814.2 million by 2032, with a CAGR of 6.9% from 2022 to 2032. Sales of salicylic acid are increasing due to rising consumer awareness about numerous benefits provided by salicylic acid. Furthermore, there is an increase in the use of salicylic acid derivatives as ointments, such as chlorine salicylate and methyl salicylate, which is likely to increase demand for salicylic acid. Increased demand for packaged foods and beverages is anticipated to drive salicylic acid market growth through 2032. This is primarily due to increased sales of salicylic acid in the food and beverage industries, where it aids in the prevention of spoilage and fermentation of packaged food products. The increasing number of people suffering from pimples, whiteheads, blackheads, warts, and zits is expected to increase demand for salicylic acid-based cosmetics. In addition, the latest developments in personal care products are expected to drive the salicylic acid market size during the forecast period. Salicylic acid is a key ingredient in the manufacture of aspirin. Aspirin is one of the most commonly prescribed pharmaceutical medications in the world due to its superior pain-relieving properties and ease of availability. 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. 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.