Homosalate Market Overview with Cost Structure Analysis and Growth Opportunities 2021-2026

Homosalate is basically an organic ingredient, used in making many sunscreens. Formed by the Fischer–Speier esterification of salicylic acid with 3, 3, 5-trimethylcyclolohexanol, it is an important cosmetic ingredient. The salicylic acid part of Homosalate absorbs ultraviolet rays within the range of 295 nm to 315 nm and protects the skin against sun damage. It is thereby used as a chemical ultraviolet filter and finds its presence in over 45 percent of the U.S. sunscreens.

The trimethyl cyclohexane functional group is hydrophobic in nature, which provides greasiness effect and prevents it from dissolving in water. Homosalate degrades quickly (loses 10 percent SPF protection in 45 minutes) when exposed to higher UV light which makes it comparatively less effective by itself. However, being a liquid, it is used to dissolve other sunscreen agents that are hard to solubilize, such as the renowned Avobenzone.

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Segmentation Analysis of Homosalate Market
The global Homosalate market is classified majorly into three segments: by function, application and region.

On the basis of function, Homosalate market has been segmented as follows:

Skin Conditioning
UV absorber
UV filter
On the basis of application, Homosalate market has been segmented as follows:

Sport and beach sunscreen
Moisturizer
Makeup primer
Lip balm
Hair treatment /serum
Fragrance body spray
On the basis of region, Homosalate market has been segmented as follows:

North America
Europe
Latin America
East Asia
South Asia and Oceania
Middle East & Africa
Homosalate Market: Key Players
The market for Homosalate is moderately fragmented as local manufacturers are satisfying the regional demand with a majority as compared to key players. The prominent players in Homosalate market are Spectrumchemical, Ampak, ATK Chemicals, ZX Chem, Universal Ester and Ascent FineChem, contributing about 40% to total Homosalate market share.

Key players in the beauty and skincare market are collaborating with vendor manufacturers of Homosalate to have a streamlined supply chain. These companies are also pushing for innovation and discoveries having limited or zero side effects in response to climbing demand for skin-care products to gain organic growth and maintain a competitive advantage over others.

Chemical-based skincare products are coming to limelight because of their adverse effect on the skin causing allergies and other skin-related issues which would showcase an unstable market scenario for Homosalate market.

However, certain restriction on cosmetic products containing chemicals which harms the environment (acting as bio-accumulative), negatively effects the balance sheet of these companies as they will have to spend in research and development again so as to verify the above mentioned claims and come up with modified products which removes the restricted ingredient, but retains the effect it had in the product.

The research report presents a comprehensive assessment of the Homosalate market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Homosalate market report provides analysis and information, according to market segments such as geographies, product type, material type and end use.

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Homosalate Market: Regional Outlook
Considering the regional classification, the report “Homosalate” provides an explicit study on six prominent regions which include North America, Europe, Latin America, South Asia and Oceania, East Asia and Middle East & Africa.

Among them, majority market share is dominated by Asia especially by China while capturing almost 50% of manufacturing and supply of Homosalate. Increasing demand for skin-care products and makeup products among the growing population of millennials in China and India will be the driving force for Homosalate market.

Secondly, United States and Europe collectively holding about 30% of total Homosalate market share. Increasing global temperature levels and depletion in the ozone layer has made people aware of skin health which has caused the rise in demand for sunscreen and ultimately increasing demand for Homosalate. However, rising concerns about the chemical-based skincare products there could be a potential threat to Homosalate market in the US and Europe.

Besides, Middle East & Africa has minimal market share for Homosalate but it also shows potential to grow high soon with elevating demand for skin-care and beauty products.

However, Homosalate has been placed in Cosmetic Ingredient hotlist by Canada, which consists of list of chemicals restricted for use by manufacturers in their cosmetic offerings. This was done recently in 2020, owing to recent research studies indicating to the health effects related to Homosalate being toxic to some organs and is suspected to be an environmental toxin acting as a bio-accumulative in the food chain, after ending up in oceans.

However, in Canada, Homosalate has been restricted to be used in any cosmetics as it is considered to be toxic and harmful to humans. Also, it is suspected to be environmentally toxic, so the sustainability of Homosalate would be the question of concern. Although Homosalate usage is imitated in a few regions, it continues to grow with a higher rate in response to demand of beauty and skincare products.

Sunburn and skin cancer are the major causes prompting the use of cosmetics thereby leading to a rise in the use of Homosalate which is a vital ingredient in sunscreens, foundations and moisturizers among others. Although Homosalate is suspected to be an endocrine disruptor as per certain research studies, it is to some extent expected to inhibit the growth of the Homosalate market.

Major demand from millennial and generation Z has been seen in the prevalence of sun care creams with anti-ageing and SPF benefits, which has accelerated the growth of sunscreen industry and in-turn leading to the development of Homosalate market. Attributed to the ever-increasing cosmetic industry in developed as well as developing countries, Homosalate market is expected to grow at a higher CAGR in the upcoming years.

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