EINPresswire/ -- Increase in demand from the preserved food & beverage industry and rise in demand for personal care products are key factors driving the growth of the global salicylic acid market. According to a report by Allied Market Research, the market was valued at $431.7 million in 2020 and is projected to reach $886.9 million by 2030, growing at a CAGR of 7.5% from 2020 to 2030.

The report provides an in-depth analysis of market trends, key segments, investment opportunities, the value chain, regional performance, and the competitive landscape.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Key Market Drivers:

- Rising use in preserved food & beverages: Salicylic acid serves as an effective preservative, extending the shelf life of food and drinks.

- Growth in personal care and cosmetics: Increasing consumer demand for skincare products that prevent acne and exfoliate dead skin cells continues to boost market growth.

However, growing consumer awareness regarding potential side effects may limit market expansion. Conversely, increased adoption in pharmaceuticals and cosmetics and rising demand for aspirin drugs are expected to create lucrative opportunities over the forecast period.

Market Segmentation

By Application:

- Pharmaceuticals: Accounted for more than three-fourths of the total market share in 2020 and is expected to maintain dominance throughout the forecast period.

- Skin Care: Projected to register the fastest CAGR of 9.2% from 2021 to 2030, driven by the expanding cosmetics and personal care industry.

Regional Insights

- The Asia-Pacific region held the largest share in 2020, contributing to over one-third of the global market, and is expected to continue its leadership through 2030. This region is also anticipated to exhibit the highest CAGR of 7.8% during the forecast period, supported by rapid industrialization, population growth, and rising demand for pharmaceuticals and cosmetics.

- Other regions analyzed in the report include North America, Europe, Latin America, and the Middle East & Africa.

Key Market Players:

Leading companies in the global salicylic acid market include:

- Alfa Aesar
- J.M. Loveridge Limited
- Avonchem Limited
- Midas Pharma GmbH
- Novacyl
- Solvay
- Merck KGaA
- Wego Chemical Group
- Reagents

These players focus on strategic alliances, capacity expansion, and R&D initiatives to strengthen their market presence and product offerings.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: /purchase-options

About Us

Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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