Market Size of Salicylic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.80 % |
| Fastest Growing Market | South America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp "Salicylic Acid Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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 CHO. 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.
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| Food and Beverage | |
| Cosmetics and Personal Care | |
| Pharmaceuticals |
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Salicylic Acid Market Size Summary
The salicylic acid market is experiencing growth driven by its increasing application in skincare and pharmaceutical industries. The rising prevalence of acne, particularly among adults and teenagers, is boosting the demand for salicylic acid, known for its anti-inflammatory and antimicrobial properties. Its use in cosmetics, especially in acne-fighting products, is gaining traction as it offers benefits like exfoliation and pore improvement. The market is also seeing a shift towards salicylic acid as an alternative to glycolic acid, further propelling its adoption in beauty products. However, the market faced challenges during the COVID-19 pandemic, with supply chain disruptions and manufacturing slowdowns impacting production and distribution.
Regionally, North America, particularly the United States and Canada, dominates the market, while South America is emerging as a fast-growing region due to increasing demand from countries like Brazil. The competitive landscape is marked by numerous regional players and strategic partnerships between domestic and multinational corporations to enhance global reach. Key manufacturers are focusing on adhering to international quality standards and certifications to maintain product integrity. Innovations in product offerings, such as those by brands like Boots and The Ordinary, highlight the ongoing development in salicylic acid-based skincare solutions, catering to a growing consumer base seeking effective and affordable skincare options.
Salicylic Acid Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Application
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2.1.1 Food and Beverage
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2.1.2 Cosmetics and Personal Care
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2.1.3 Pharmaceuticals
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.1.4 Rest of North America
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2.2.2 Europe
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2.2.2.1 United Kingdom
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2.2.2.2 Germany
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2.2.2.3 France
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2.2.2.4 Russia
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2.2.2.5 Italy
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2.2.2.6 Spain
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2.2.2.7 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 India
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2.2.3.2 China
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2.2.3.3 Japan
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2.2.3.4 Australia
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2.2.3.5 Rest of Asia-Pacific
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle East & Africa
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2.2.5.1 South Africa
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2.2.5.2 Saudi Arabia
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2.2.5.3 Rest of Middle East & Africa
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Salicylic Acid Market Size FAQs
What is the current Salicylic Acid Market size?
The Salicylic Acid Market is projected to register a CAGR of 4.80% during the forecast period (2024-2029)
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 and Thermo Fisher Scientific are the major companies operating in the Salicylic Acid Market.
