Salicylic Acid Market to Attain Value of USD 886.9 Million by 2031 | SkyQuest Technology
SkyQuest Technology Consulting Pvt. Ltd.
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SkyQuest Technology Consulting Pvt. Ltd.
Salicylic acid is used to make haircare and skin care products, and consumers are becoming more aware of its benefits. This is expected to drive demand over the forecast period.
Westford, USA, Dec. 01, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global salicylic acid market share will reach a value of USD 886.9 Million by 2031, with a CAGR of 7.5% during the forecast period (2024-2031). The increasing application of salicylic acid in such industries as food preservatives, cosmetics products, and medicines is contributing to the salicylic acid market growth. Salicylic acid is used in acne treatments, shampoos that fight against dandruff, and other skincare products due to its anti-inflammatory, antibacterial, and exfoliating properties. The increasing prevalence of dermatological disorders among adolescents and young adults, such as psoriasis, acne, corn, calluses, keratosis pilaris, and warts, is another major factor that fuels the demand in this market.
Browse in-depth TOC on the "Salicylic Acid Market"
Powdered Salicylic Acid Dominates Market Due to Versatility
As per the salicylic acid market analysis, the powdered form of the drug makes up the majority of the market. This can be attributed to the fact that salicylic acid is used in high amounts in the composition of cosmetics (mainly in products against acne, exfoliators, and peels) and medicines, being present in the formulation of pills, ointments and creams. The powder is preferred because it blends well with other products and has a longer shelf life. Powder can thus be used in numerous formulations; besides that, it can effectively control the dose accurately, which makes it suitable for different application fields.
Leadership of Cosmetics Segment Due to Rising Momentum of Salicylic Acid in Acne Treatment
Based on the salicylic acid market forecast, the cosmetics category is expected to grow at the most rapid CAGR. Salicylic acid is increasingly being used in face wash, serums, toners, sprays, and other products, primarily under anti-aging and anti-acne product lines, since it appears to be effective against acne and other everyday dermatological problems. Crown Laboratories, Inc.'s PanOxyl brand also announced the availability of its Acne Banishing Body Spray with 2% Salicylic Acid in February 2024. The product will be able to leave pores unclogged and blemishes removed. For this reason, increased usage of acid in the cosmetics industry is expected to boost the growth of the segment during the forecast period.
North American Market Growth Driven by Skin Care Trends
In 2024, the salicylic acid industry has significantly tapped North America for huge revenues. The emerging market is accountable mainly for an increasing market share as a consequence of rising interest in skin care and more exposure to products with active ingredients such as salicylic acid. Moreover, the popularity of salicylic acid in the pharmaceutical industry comes from the rise in the old population and the increasing prevalence of chronic diseases.
Analysis of key drivers (increasing demand for skincare products, rising prevalence of acne), restraints (volatility in raw material prices, toxicity concerns in large doses) opportunities (rising demand for organic skincare products), and challenges (skin irritation and allergic reactions) influencing the growth of the salicylic acid market
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the salicylic acid market
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the salicylic acid market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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