Acumen Research and Consulting, a global provider of market research studies, in a recently published report 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”
LOS ANGELES, April 09, 2019 (GLOBE NEWSWIRE) -- The salicylic acid market to grow at a noteworthy CAGR of around 8% during the period from 2016 to 2026. Some of the major factors behind these projections include the augmented demand for salicylic acid as preservatives in food & beverages industry, and increased usage of salicylic acid for skin and hair care treatment.
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Research study estimates, the global salicylic acid market to grow at a significant rate and reach the market size of over $620 million by 2026. Salicylic acid is major drug used for the treatment of skin and hair related problems such acne, dandruff, and corn removal. These are derived for natural sources such as salix and white willow and can be artificially produced through sodium phenolate and carbon dioxide.
The market growth for salicylic acid is likely to get hampered due to its reported side effects on human body such as skin rashes, itching, severe headache, and dizziness. The regulations regarding the use of preservatives in food & beverages by the European government is also likely to restrict the market growth for salicylic acid during the forecast period. However, the manufacturers of salicylic acid have huge growth opportunities during the forecast period owing to the boom in the personal care industry in emerging economies such as Asia Pacific and Latin America. Brazil, Mexico, Colombia, and Chile are anticipated to be one of the most profitable beauty industry globally in coming 5 years. The growing awareness regarding medicated cosmetics in developing countries such as India, Taiwan, Malaysia, and Singapore are also likely to create growth opportunities for manufacturers of salicylic acid during the forecast period.
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Asia Pacific to be the most attractive market for salicylic acid supported by booming cosmetics industry
The report focuses on the regional markets including North America, Europe, Asia-Pacific, and Rest of the World. Among these markets, North America was the largest market for salicylic acid in 2013 mainly due to the growth in the snacking trend coupled with innovation in food packaging industry and busy life culture in the region.
Asia Pacific is anticipated to be the most attractive market for salicylic acid market during the forecast period owing to the booming personal care and cosmetic industry. According to industry experts, China is projected to become the largest personal care and cosmetics products market in next five years surpassing the U.S. The cosmetic industry in India is estimated to be the fastest growing in the region, with current market size of approximately $4.5-5 billion. The market for salicylic acid is also supported by the growing awareness regarding the concept of processed food in the region.
Latin America is also projected to register significant growth rate during the forecast period owing to the increased adoption of medicated cosmetics products and growing preference for processed food in countries such as Brazil, Argentina, and Peru.
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Skin Care to register highest growth rate during the forecast period
On the basis of application, the global salicylic acid market is segmented into pharmaceuticals, skincare, haircare, and food preservatives. Pharmaceuticals segment has been further sub-segmented as wart remover, disinfectant, antifungal, dentifrices, antiseptic, anti-irritant, scale lifter, ointment. Moisturizer, sunscreen, and acne solution are the sub-segment of skincare segment, whereas conditioners and shampoos are the sub-segments for haircare segment. Skin care is anticipated to be most attractive market for global salicylic acid during the forecast period owing to the increased usage of salicylic acid in medicated cosmetics for the treatment of acne. Salicylic acid helps in clearing away the dead skin and also restricts the entry of impurities in the skin. These features of salicylic acid have resulted in its increased usage in acne treatment globally.
Some of the key players profiled in the report include Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Shandong Xinhua Longxin Chemical Co. Ltd., Hebei Jingye Group, Simco QC, Novacap, J.M. Loveridge Ltd., Siddharth Carbochem Products Ltd., Alta Laboratories Ltd., and Alfa Aesar.
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