- Growing demand for the anti-inflammation, skin irritation, and acne curing products and food preservation solutions, coupled with extensive growth in the topical medication and personal care industries, are the primary drivers for the growth of the market.
- Market Size – USD 416.3 Million in 2019, Market Growth - CAGR of 7.2%, Market Trends – The huge growth in skincare & hair care products.
NEW YORK, Aug. 17, 2020 /PRNewswire/ -- The Global Salicylic Acid Market is projected to reach USD 731.4 Million by 2027. The market is fueled by the rising trend of usage of salicylic acid in food preservation, and extensive growth of the cosmetic & personal care industries, and proliferating usage of sunscreen & anti-acne products. Huge demand for the personal care industries specializing the skincare, hair care products, and a sudden enormous lift in the growth of the pharmaceutical products including disinfectant, wart removal, antiseptic end-use over-the-counter drugs, and medicines have substantially propelled the overall market growth and expected to add to the market share predominantly in the forthcoming years.
Ordinary salicylic acid, salicylic acid wash, salicylic acid soap, salicylic acid serum, salicylic acid peel, the ordinary peeling solution, cleanser, ordinary serum, hydrating cleanser, acetylsalicylic acid, salicylic acid cream, salicylic acid face wash, glycolic acid toner, glycolic acid skin care, glycolic acid scrub, the ordinary retinol, and the ordinary buffet to name a few are the hugely demanding topics and factors the end-users are concerned about and have been influencing market growth in many ways, have been discussed in detail in the report.
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The growing popularity of the personal care industy is due to hair care and skin care products that help cure dandruff, seborrheic dermatitis, and acne repellant, dark spot removal, and others, respectively.
The Asia Pacific region possesses one of the leading consumer bases and occupies a significant market share. This region is also expected to register the highest growth during the forecast period as an immense rise in the demand for the personal care & cosmetics products & rise in the consumers owing to an increase in the disposable income especially in the countries like China, India, and Indonesia, among others.
COVID-19 Impact Analysis:
The COVID-19 pandemic has created endless disruptions for the manufacturing or production industries due to a shortage of resources in different parts of the world. The leading players in the industry are skeptical about the market's future and try to redesign their strategies to support the challenge. The pandemic had a serious impact on the research & development as the companies are being refrained from investing in any newer aspect of research or product innovation for the time being. The manufacturing industries also have been disrupted due to reduced available human resources. The companies are incorporating different techniques to increase the production volume and trying to develop innovative solutions at an affordable price, which can meet customer requirements at a much lower cost and support the overall breakthrough required for sustainability in the increased personal care & pharmaceutical product penetration.
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Further key findings from the report suggest
- The demand for the highly effective anti-inflammation, skin-irritating, and acne removing products are the primary drivers for the market, and would increasingly help in driving the overall market during the forecast period.
- Pharmaceutical grade is growing with the fastest CAGR of 8.3% during the forecast period owing to the huge development of pharmaceutical & topical medicine products recently.
- Salicylic acid is a widely used and desirable agent for the prevention of fermentation in many industries. The preservation sub-segment is growing at a CAGR of 8.1% throughout the forecast period and is expected to lead the market.
- In January 2020, Boots UK Limited, a UK-based health & beauty retailer and pharmacy chain, launched a brand new type of ingredient-led collection that is expected to rival the likes of The Ordinary. The salicylic acid serum helps in leaving the oil from the skin and creates a great less-oily look.
- Key participants include Alta Laboratories, Zhenjiang Gaopeng Pharmaceutical Co. Ltd., Siddharth Carbochem Products Ltd., Novocap, Simco Chemicals, J.M. Loveridge Ltd., Alfa Aesar GmbH & Co KG., Shandong Xinhua Pharmaceutical Co. Ltd., Hebei Jingye Group, and Avnochem Limited, among others.
For the purpose of this report, Reports and Data has segmented the global market on the application, grade, sales channel, end-use verticals, and region:
Application Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Acne Solution & Sun-screening
Grade Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
Sales Channel Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Online Retails
- Offline Retails
End-Use Verticals Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Food & Beverage
- Personal Care
Regional Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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