Global Homosalate Market Is Expected To Grow At US$ 206 Million By 2032

As per the latest market analysis report on homosalate by Fact.MR, a market research and competitive intelligence provider, the global market is valued at US$ 116.9 million in 2022 and is predicted to evolve at a CAGR of around 5.8% over the 2022-2032 forecast period.

Demand for homosalate in the past has been triggered by increasing usage in the production of sunscreen products across geographies as per permissible limits, be it 10% in the European Union or 15% in the U.S.

However, there have been regulatory changes at the global level, wherein, SCCS (Scientific Committee on Consumer Safety) of the European Union concluded that homosalate usage in concentrations above 0.5% in consumer products could not be considered safe. This resulted in SCCS adopting to drastically reduce the permissible limit from 10% in European countries to a mere 0.5%

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.factmr.com/connectus/sample?flag=S&rep_id=5514

This would not only negatively hamper the overall sales of the product in the European market in the short term, which is one of the largest demand generators, but also act as a restraint to market growth in adjoining regions, which are bound to adopt such product level-restrictions on a broader scale, and, in turn, promote R&D into alternate product development.

Key Takeaways from Market Study

• By form, liquid homosalate usage is projected to provide an absolute revenue opportunity of US$ 74.9 million over the forecast period (2022-2032).
• Based on purity, demand for below 99% purity grade is poised to increase at a CAGR of around 6.3% and be valued at US$ 81.5 million by 2032-end.
• Based on use case, solubilizer/mixing agents are set to expand around 5.3% CAGR.
• By application, usage in skin care products is anticipated to remain a vital contributor to market revenue and is expected to account for 64.9% market share by 2032.
• Europe is anticipated to capture around 34.5% of the global homosalate market share by 2032.
• East Asia is expected to provide an absolute revenue opportunity of US$ 23.4 million by 2032.

𝐒𝐡𝐚𝐫𝐞 𝐘𝐨𝐮𝐫 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 & 𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬- https://www.factmr.com/connectus/sample?flag=RC&rep_id=5514

Competition Landscape

Ampak Company, Chemical Brothers, Spectrum Chemical, Amadis Chemical, ATK Chemical, ZX Chem, Siyang Liaoning Biochem, ZhenYiBio Technology Inc, Natural micron chem tech, and Universal Esters are key suppliers of homosalate.
Chemical-based skin care products are gaining attention due to their negative effects on the skin, producing allergies and other skin-related concerns, indicating an unstable market scenario for homosalate.
Top homosalate manufacturers and top cosmetics manufacturers are investing in the homosalate market and are looking to create revenue-generating opportunities in target markets.

Key Segments Covered in Homosalate Industry Research

Homosalate Market by Form :

o Powder Homosalate
o Liquid Homosalate

Homosalate Market by Purity :

o Below 99%
o 99% & Above

Homosalate Market by Use Case :

o Solubilizers/Mixing Agents
o UV Absorbers/Filters

Homosalate Market by Application :
• Skin Care
 Makeup Liners
 Lip Balms
 Body Sprays
 Sunscreen
 Moisturisers
 Hair Care
 Treatment Formulations
 Serum/Conditioners

Homosalate Market by Region :

o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa

𝐆𝐞𝐭 𝐀𝐜𝐜𝐞𝐬𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.factmr.com/checkout/5514

Winning Strategy

As the homosalate market is entirely dependent on sunscreen and facial cream manufacturers for consistent revenue generation, companies should invest in forming collaborations with cosmetic manufacturers. They should work towards developing and pioneering discoveries in newer cosmetic formulations, which will not only limit the usage of homosalate to 0.5% in facial creams but also keep the functional characteristics intact, ensuring futuristic opportunities in the market.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐅𝐚𝐜𝐭.𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡: https://www.globenewswire.com/en/news-release/2022/09/26/2522615/0/en/Third-Generation-Advanced-High-Strength-Steel-Opening-Plethora-of-Opportunities-for-Manufacturers-Says-Fact-MR.html

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

This release was published on openPR.