Salicylic Acid Market Size
|Study Period:||2018 - 2028|
|Fastest Growing Market:||South America|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and it's growth?
Salicylic Acid Market Analysis
The global salicylic acid market is projected to register a CAGR of 4.8% during the period, 2022-2027.
An increase in the prevalence of chronic acne vulgaris in adults and teenagers, owing to sedentary lifestyles and increased consumption of fast food items, may accelerate the salicylic acid demand. Salicylic acid has also been shown to have anti-inflammatory and antimicrobial properties. When used in combination with benzoic acid in the ointment, it has fungicidal properties.
However, with the impact of COVID-19 the market has affected the demand due to closure at retail end and with the restricted working timing and transportation restrictions, raw material procurement has become another challenge impacting the manufacturing capacities of salycilic acid in the market. The lockdown measures led to the closure of manufacturing facilities and led to the disruptions in the supply chain impacting the supply and disribution of application sindustries.
Furthermore, salicylic acid’s extensive application in the pharmaceutical industry to manufacture various medicines, such as acetylsalicylic acid, phenyl salicylate, sodium salicylate, methyl salicylate, and methyl salicylate may foster market growth.
Salicylic Acid Industry Segmentation
Salicylic acid is a lipophilic monohydroxybenzoic acid, a type of phenolic acid, and a beta hydroxy acid, having molecular formula C₇H₆O₃. In terms of physical properties, it is an odorless and colorless crystalline organic acid. Salicylic acid acts as an intermediate in the pharmaceutical and personal care industry. In foods, salicylic acid helps to prevent spoilage and fermentation of packaged food products. The global salicylic acid market is segmented by application and geography. Based on application, the market is segmented into food and beverage and cosmetics and personal care, and pharmaceuticals. Based on geography, the study provides an analysis of the salicylic acid market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report offers market size and forecasts in value (USD million) for the above segments.
|Food and Beverage|
|Cosmetics and Personal Care|
Salicylic Acid Market Trends
This section covers the major market trends shaping the Salicylic Acid Market according to our research experts:
Growing Demand for Salicylic Acid in Acne-Fighting Cosmetics
The use of salicylic acid, a multifunctional ingredient that addresses many of the systemic causes of blemishes, is on the rise in the prevention of acne and related cosmetics. Salicylic acid’s usage is on the rise, with the researchers pointing out its development as an alternative to glycolic acid, marking it as a key growth factor. Cosmetics with acne-fighting properties are currently witnessing a boost because of the rise in adult consumers suffering from acne. The Journal of American Academy of Dermatology notes that 54% of women over 25 have at least some facial acnes. As a result, beauty brands are incorporating acne-fighting properties into color cosmetic ranges, and acne-fighting foundations are offered by brands, like Clinque, Almay, Neutrogena, and Lancome. Salicylic acid has been found to exfoliate, degrease the skin, reduce inflammation, and improve the appearance of pores, and it is increasingly being used as a staple ingredient in acne-related skincare products. This variety of applications is seeing further expansion, despite the belief that sufferers of recurring acne should avoid salicylic acid peels due to the chemical reacting badly with the skin.
To understand key trends, Download Sample Report
South America Holds the Significant Market Share
The salicylic acid market is largely dominated by countries, like United States, Canada which owes to be the largest region in base year, 2021. South America remains the fastest-growing market for salicylic acid, owing to strong demand surge from developed countries, such as Brazil in the region. The manufacturers are eyeing on this potential region and investing heavily to bring the latest innovations and increase production capacity to cater to the increasing demand in the region. Owing to the robust production and largest export of salicylic acid in the country, South America poses high power in regulating the global ingredient price. Moreover, the rising fashion industries in countries like Brazil, Argentina might lead to the increase in demand for the skin care products, which might fuel the demand for salicylic acid and acts as the major factor driving the market in the forecast period.
To understand geography trends, Download Sample Report
Salicylic Acid Industry Overview
The salicylic acid market is highly competitive with various regional players, such as Zhenjiang Gaopeng Pharmaceutical Co. Ltd, Hebei Jingye Group, Shandong Xinhua Longxin Chemical Co. Ltd, Thermo Fisher Scientific, and Merck & Co Inc. The presence of domestic players is huge, where most of the players are operating their businesses on smaller scales. Also, the key manufacturers in the global salicylic acid are implementing the global market development strategy and adopting the international advanced standards in quality management and certifications, such as GMP, ISO9001, ISO14001, ISO 10012, and ISO22000. Domestic manufacturers are increasingly focusing on establishing strategic partnerships with numerous multinational corporations to make their products available across the world.
Salicylic Acid Market Leaders
Zhenjiang Gaopeng Pharmaceutical CO,.Ltd
Hebei Jingye Group
Shandong Xinhua Longxin Chemical Co. Ltd
Thermo Fisher Scientific
*Disclaimer: Major Players sorted in no particular order
Salicylic Acid Market News
In January 2020, Boots brand launched a new range of ingredient-driven collection of skincare and cosmetics. The product range is suitable for consumers seeking affordable range of skincare products for none of its products ranges above EUR 7.50. The product range is inclusive of BHA salicylic acid serum, designed for making the skin visibly less oily without removing all the moisture from the skin. Thereby, it makes the skin look refreshed and moisture together.
In May 2019, a skincare brand, The Ordinary, launched an innovative face mask, Salicylic Acid 2% Masque which was priced at EUR 9.90. The product consists salicylic acid as a key ingredient with additional ingredients charcoal and clays, which further assist in deep cleansing of the skin.
Salicylic Acid Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Food and Beverage
5.1.2 Cosmetics and Personal Care
5.2.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.2.4 South America
184.108.40.206 Rest of South America
5.2.5 Middle East & Africa
220.127.116.11 South Africa
18.104.22.168 Saudi Arabia
22.214.171.124 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Positioning Analysis
6.3 Company Profiles
6.3.1 Zhenjiang Gaopeng Pharmaceutical Co. Ltd
6.3.2 Hebei Jingye Group
6.3.3 Shandong Xinhua Longxin Chemical Co. Ltd
6.3.4 Siddharth Carbochem Products Ltd
6.3.5 Thermo Fisher Scientific
6.3.6 Alta Laboratories Ltd
6.3.7 Merck & Co. Inc.
6.3.8 J.M. Loveridge Ltd
6.3.9 Spectrum Chemical Manufacturing Corp
6.3.10 Seqens SAS
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Salicylic Acid Market Research FAQs
What is the study period of this market?
The Salicylic Acid Market is studied from 2018 - 2028.
What is the growth rate of Salicylic Acid Market?
The Salicylic Acid Market is growing at a CAGR of 4.8% over the next 5 years.
Which region has highest growth rate in Salicylic Acid Market?
South America is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Salicylic Acid Market?
North America holds highest share in 2021.
Who are the key players in Salicylic Acid Market?
Zhenjiang Gaopeng Pharmaceutical CO,.Ltd, Hebei Jingye Group, Shandong Xinhua Longxin Chemical Co. Ltd, Merck KGaA, Thermo Fisher Scientific are the major companies operating in Salicylic Acid Market.
Salicylic Acid Industry Report
Statistics for the 2023 Salicylic Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Salicylic Acid analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.