According to the report by Expert Market Research (EMR), the global salicylic acid market reached a value of approximately USD 454.61 million in 2022. Aided by the escalating demand for skincare products and the wide-ranging applications of salicylic acid across diverse sectors, the market is projected to further grow at a CAGR of 5.30% between 2023 and 2028 to reach a value of USD 619.82 million by 2028.
Salicylic acid is a beta hydroxy acid, primarily derived from willow bark, and is widely used as a key ingredient in various products, including skincare products, hair care solutions, and pharmaceutical products. It plays an essential role in combating acne, reducing inflammation, and sloughing off dead skin cells.
Apart from its therapeutic properties, salicylic acid also possesses excellent exfoliating, pore-clearing, and anti-inflammatory traits, making it a sought-after ingredient in various industrial applications, including pharmaceuticals, cosmetics, and food preservation.
The burgeoning consumer preference for skincare products is driving the global salicylic acid market growth. With the growing awareness about the benefits associated with skincare routines, there has been a considerable shift towards skincare products, leading to an upsurge in demand for salicylic acid-based products. Furthermore, the rising trend of personal grooming and self-care has also contributed to the increasing popularity of salicylic acid, given its common inclusion in cosmetic products and personal care items.
The multifaceted applications of salicylic acid in various sectors also play a pivotal role in the salicylic acid market expansion. In the pharmaceutical industry, salicylic acid is used as an active ingredient in the production of aspirin and other pain-relief medications.
The cosmetics industry leverages salicylic acid for its ability to unclog pores and prevent lesions, which are integral to the formulation of a wide array of skincare products. Moreover, salicylic acid’s antimicrobial properties make it a crucial component in the manufacturing of food preservatives, thereby promoting the salicylic acid market demand.
In addition, the growing demand for organic and natural alternatives in the cosmetic industry has led to an increased focus on salicylic acid as a viable ingredient. With the rise of organic beauty trends and the increasing popularity of cruelty-free and natural products, salicylic acid has surfaced as a crucial element in the formulation of organic skincare and haircare products, thereby stimulating the salicylic acid market growth.
Market Segmentation
The market can be divided based on end use and region.
Market Breakup by End Use
- Pharmaceuticals
- Personal Care
- Food and Preservative
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global salicylic acid companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Seqens International
- JM Loveridge Limited
- Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
- Hebei Jingye Group Co., Ltd.
- Siddharth Carbochem Products Ltd
- Others
