The global salicylic acid market size accounted for USD 352 million in 2024 and is expected to exceed around USD 589.97 million by 2034, growing at a CAGR of 5.3% from 2024 to 2034.
The salicylic acid market has been expanding rapidly due to its growing popularity in the cosmetic, pharmaceutical, and food industries. Cosmetics such as skin creams, moisturizers, serums, and more utilize salicylic acid as a form of treatment for acne. The chemical is prized for its exfoliating properties that reduce inflammation. The rising prevalence of acne and related skin conditions due to increasing pollution and lifestyle changes is fuelling demand for salicylic acid-based products and, in turn, demand for the chemical. It is also being utilized in the food and beverage industry as a preservative and inhibitor of yeast.
Despite this growth, there are obstacles to market expansion, including unstable raw material prices, which cause supply chain issues. Salicylic acid is extracted through chemical processes from natural sources such as willow tree bark. Environmental factors and large-scale deforestation lead to an increase in regulations and a lack of a steady supply of raw ingredients. However, new innovations in pharmaceutical formulations of pain relievers like aspirin infused with medications to help treat skin conditions support growth in the market. Demand in the salicylic acid market is expected to grow in the coming years due to the expansion of the food preservatives market. The development of synthetic salicylic acid is set to provide a relatively stable supply in the coming years.
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| Stats ID: | 7092 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
| Price | US$ 1550 |
| Stats ID: | 7092 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
| Price | US$ 1550 |
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