Salicylic Acid Market Size was valued at USD 252.01 Billion in 2023. The Salicylic Acid industry is projected to grow from USD 277.21 Billion in 2024 to USD 540.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.70% during the forecast period (2024 - 2032). Raising awareness about health consciousness in emerging nations and rising food and beverage consumption are the key market drivers contributing to overall market share.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for salicylic acid is being driven by raising awareness about health consciousness in emerging nations. The usage of cosmetic and Healthcare goods has increased due to people's increased awareness of health and well-being, particularly in emerging nations. Salicylic acid is in high demand because of its beneficial effects. Therefore, during the projected period, the market for salicylic acid is anticipated to increase along with the increasing demand for healthcare goods and cosmetics. Due to its antibacterial properties, food and preservatives are another industry that drives an enormous need for salicylic acid in the marketplace. The food sector uses salicylic acid on a huge scale as a food preservative. Therefore, it is anticipated that the demand for salicylic acid will shortly increase due to food and other applications.
Additionally, aspirin is manufactured primarily using salicylic acid. Aspirin tablet consumption is anticipated to rise due to the medication's excellent pain-relieving properties and easy accessibility. It is one of the world's most commonly recommended pharmaceutical medications because of its enhanced pain-relieving properties and simple accessibility. A prominent growth driver for the salicylic acid market is the increasing acceptance of aspirin pills because of their higher discomfort-relieving activity and accessibility of pharmaceuticals. Salicylic acid is increasingly in demand since it is widely used to treat and prevent diseases such as dementia and cerebrovascular accidents, especially among the elderly.
As the prevalence of pimples, acne breakouts, and blackheads increases, salicylic acid-based products are expected to gain preference.
Due to retail store closures brought on by COVID-19, the market has experienced a decrease in consumer demand. The difficulty obtaining raw materials has influenced the market's ability to produce salicylic acid. Lockdown procedures resulted in the shutdown of industrial facilities and supply chain disruptions. However, the COVID-19 pandemic led to an upsurge in salicylic acid consumption in the healthcare industry. Due to the surge of COVID-19-infected people suffering muscle and joint discomfort and the increasing need for anti-inflammatory and pain-relieving medications, salicylic acid has become increasingly in demand in Healthcare.
For instance, the consumption of cosmetics with anti-acne properties has increased as the number of adult clients with acne has surged. According to research published in the Journal of the American Academy of Dermatology, 54% of women with facial acne belong to the age group of 25. Because of this, color cosmetics provide foundations with acne-fighting properties. Salicylic acid is an important component in skin care products for acne due to its ability to cleanse, remove the grease from the skin, reduce irritation, and improve the look of pores. As a result, it is anticipated that demand for salicylic acid will increase throughout the projection period due to growing health and personal care concerns. Thus, driving the Salicylic Acid market revenue.
The Salicylic Acid market segmentation, based on Source, includes artificial/synthetic and natural. The artificial/synthetic category dominated the market, accounting for 60% of the market share (USD 137.5 billion). The natural category segment is expected to grow steadily during the projected period as consumers rely more on naturally obtained salicylic acid because of its benefits than artificially sourced salicylic acid.
Figure 1: Salicylic Acid Market, by Source, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Salicylic Acid market segmentation, based on Applications, includes health care, food preservatives, and cosmetics. The healthcare category generated the highest market share of about 48% (USD 110 billion) in 2022. Cosmetics category is the fastest growing segment category due to salicylic properties suitable for skin care driving the overall market growth.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Region will dominate this market, owing to the increasing consumption of fashion and skincare-related products. In addition, huge expenditure and investment in innovation and increasing production capacity to capture demand will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Salicylic Acid Market Share by Region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’salicylic Acid market accounts for the second-largest market share due to the growing healthcare and personal care industry and awareness about health-related issues. Further, the German Salicylic Acid market dominates the market revenue, and the UK Salicylic Acid market is expected to be a fast-growing market in the European Region.
The Asia-Pacific Salicylic Acid Market is expected to expand significantly during the projected period. This is due to expanding awareness of health concerns and increasing population. Moreover, China’s Salicylic Acid market holds the largest market share, and the Indian Salicylic Acid market is anticipated to grow steadily in the Asia-Pacific region.
For instance, Americans are more concerned about their health and skin-related issues. The expansion and growth of the salicylic acid market have been aided by an increase in cosmetics and medical kits across the nation.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Salicylic Acid market to grow further. Market participants are also undertaking strategic approaches to expand and strengthen their footprint, with important market developments including new product establishments, partnerships, mergers and acquisitions, higher investments, and strategic alliances with other organizations. The salicylic Acid industry must offer cost-effective and sustainable products to survive and capture major market share in a highly fragmented market.
Manufacturing locally to minimize expenses is one of the key business tactics organizations use in the Salicylic Acid industry to benefit clients and capture major market revenue. The salicylic Acid industry has offered significant advantages to the beauty and skincare industry. Major players in the Salicylic Acid market, including Alfa Aesar, Alta Laboratories, JM Loveridge Limited, Novocap, Siddharth Carbochem Products Ltd., Simco Chemicals, Hebei Jingye Group, and Loveridge Ltd, are attempting to cater untapped market share by investing in research and development to offer affordable and sustainable products.
The top retailer of health and beauty products in the UK is Boots. They have innovated for more than 170 years and daily work to enhance their offerings. Boots has rapidly changed in recent years to become a pharmaceutical, medical care, and retail company that serves millions of clients and patients daily. With over 2,200 locations, ranging from small neighborhood drugstores to sizable destination salons, their mission is to assist clients and patients at every stage of life. They have a range of product offerings and aspire to unleash every person's beauty by giving clients control over their health and well-being. In December 2021, the Boots brand introduced a new line of component-driven cosmetics and skin care products. The product line is appropriate for customers looking for a good selection of skincare products because none cost more than EUR 7.50. The range of goods includes a BHA salicylic acid serum meant to make the skin appear less oily without completely drying it out. As a result, the skin seems moisturized and renewed.
The Ordinary, a DECIEM brand, is a growing assortment of cosmetics with tried-and-true clinical technology that aims to increase price and communication transparency. The brand was developed to reflect integrity in its purest and most authentic form. The company emphasized cutting-edge practical beauty. Through DECIEM’s two main brands, Hylamide and NIOD, it has brought innovative technologies to the skincare industry that specializes in material chemistry and biochemistry. In January 2020, the Salicylic Acid 2% Anhydrous Solution, The Ordinary's latest grooming essential, was released. It is used more regularly to produce creamier and more radiant skin. This fresh offering from The Ordinary is perfect for incorporating into one's usual skincare routine.
December 2021: The Boots brand introduced a new line of component-driven cosmetics and skin care products. The product line is appropriate for customers looking for a good selection of skincare products because its items cost less than EUR 7.50. The range of goods includes a BHA salicylic acid serum meant to make the skin appear less oily without completely drying it out. As a result, the skin seems moisturized and renewed.
January 2020: The Salicylic Acid 2% Anhydrous Solution, The Ordinary's latest grooming essential, has been released. It is used more regularly to produce creamier and more radiant skin. This fresh offering from The Ordinary is perfect for incorporating into one's usual skincare routine.
May 2019: A fresh facial mask is being introduced by the skincare brand The Ordinary. Salicylic acid, becoming popular among end users, is present in this mask at roughly 2%. Combined with the acid, other important substances provide users with deep skin cleaning.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 252.01 billion |
| Market Size 2024 | USD 277.21 billion |
| Market Size 2032 | USD 540.2 billion |
| Compound Annual Growth Rate (CAGR) | 8.70% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Source, Applications, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Alfa Aesar, Alta Laboratories, JM Loveridge Limited, Novocap, Siddharth Carbochem Products Ltd., Simco Chemicals, Hebei Jingye Group, and Loveridge Ltd, Vizg Chemical, CDH Fine Chemicals, Shandong Xinhua Pharmaceutical I&E Co.,Ltd |
| Key Market Opportunities | Increased illness among the elderly requires using salicylic acid to treat. |
| Key Market Dynamics | Raising the level of health consciousness in emerging nations. Rise in food and beverage consumption. |
Salicylic Acid Market Highlights:
Frequently Asked Questions (FAQ) :
The Salicylic Acid market size was valued at USD 252.01 Billion in 2023.
The Salicylic Acid market is anticipated to grow at a CAGR of 8.70% during the forecast period, 2024-2032.
North American Region holds the largest share of the Salicylic Acid market.
The key players in the Salicylic Acid market are Alfa Aesar, Alta Laboratories, JM Loveridge Limited, Novocap, Siddharth Carbochem Products Ltd., Simco Chemicals, Hebei Jingye Group, and Loveridge Ltd.
Artificial/synthetic dominated the Salicylic Acid market in 2023.
Healthcare had the largest share of the Salicylic Acid market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
