Salicylic Acid Market is Expected to Reach $252M by 2030 Driven by Rising Demand for Personal Care Products

NEW YORK, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Here are some of the key insights from IndexBox's report on the global salicylic acid market.

Introduction

The global adipic acid market is forecast to reach USD 252 million by 2030, from USD 197 million in 2022, at a CAGR of 3.1% during the forecast period. Salicylic acid is an organic compound derived from the bark of willow trees and other plants. The global salicylic acid market is expected to experience significant growth in the coming years, due to its wide range of applications in the food, chemicals, and pharmaceuticals industries.

The key drivers for the market growth are the rising demand for personal care products, growing awareness about health and wellness, and increasing spending on cosmetics.

The Asia-Pacific region is expected to be the fastest-growing market for salicylic acid, due to the growing demand from countries such as China, India, and South Korea. In China, the demand for salicylic acid is driven by the growing cosmetics industry. The country is home to some of the world's largest cosmetic manufacturers. India is another major market for salicylic acid, due to the growing cosmetics industry and the increasing awareness about health and wellness among consumers.

The North American region is also expected to witness significant growth in the demand for salicylic acid, due to the presence of a large number of cosmeceutical companies in the region. Some of the leading companies in this region are Johnson & Johnson, Procter & Gamble, and Unilever.

The European region is expected to witness moderate growth in the demand for salicylic acid during the forecast period. This can be attributed to strict regulations regarding cosmetics ingredients in Europe.

Market Drivers

The global salicylic acid market is primarily driven by the vast applications of the product in the pharmaceutical and cosmetics industries. Some of the key end-uses of salicylic acid include acne treatment, dandruff control, psoriasis treatment, and wart removal. The rising incidence of these skin conditions among people across the globe is anticipated to result in increased demand for salicylic acid over the forecast period.

In addition, the growing preference for natural and organic cosmetics among consumers is likely to contribute to market growth. Salicylic acid is derived from plants such as willow bark and wintergreen leaves, making it a popular choice for eco-conscious consumers. Moreover, the compound has antimicrobial properties that make it ideal for use in personal care products such as soaps, shampoos, and hair conditioners.

Market Trends

The increasing demand for organic and natural cosmetics is driving the market for salicylic acid as it is a key ingredient in several skin care products.

Salicylic acid is a BHA (beta hydroxy acid) that is used in various cosmetics and personal care products due to its ability to penetrate the skin and unclog pores. It is also an anti-inflammatory agent which makes it effective in treating acne. In addition, salicylic acid also has exfoliating properties which help to shed dead skin cells, revealing brighter and smoother skin.

The rising popularity of K-beauty and J-beauty trends is also fuelling the demand for salicylic acid as these regions have a strong focus on skin care routines that use natural ingredients. Moreover, the growing middle-class population in emerging economies such as China and India are becoming increasingly conscious of their appearance and are willing to spend more on personal care products, thus providing a boost to market growth.

However, the availability of cheaper alternatives such as glycolic acid may restrain market growth over the forecast period. In addition, the side effects associated with salicylic acids such as dryness, redness, and irritation may deter some consumers from using these products.

About IndexBox

IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.

Companies Mentioned in the Report

BASF SE (Germany), Dow Chemical Company (US), AkzoNobel N.V. (Netherlands), Lonza Group Ltd. (Switzerland), Evonik Industries AG (Germany), Sasol Limited (South Africa), Zhenjiang Orient Hwanya Chemical Co., Ltd. (China), Zibo Qixiang Tengda Chemical Co., Ltd. (China), Ashland Inc. (U.S.), The Procter & Gamble Company (U.S.), GlaxoSmithKline plc (UK), Bayer AG (Germany), Mylan N.V. (U.S.), Merck KGaA (Germany), Sandoz International GmbH (Switzerland), Pfizer Inc. (U.S.)

Sources

World - Salicylic Acid - Market Analysis, Forecast, Size, Trends and Insights

EU - Salicylic Acid - Market Analysis, Forecast, Size, Trends and Insights

Asia - Salicylic Acid - Market Analysis, Forecast, Size, Trends and Insights

U.S. - Salicylic Acid - Market Analysis, Forecast, Size, Trends and Insights

Contact Information

Mekhrona Dzhuraeva

Editor

media@indexbox.io