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Premium Salicylic Acid Market Growth Will Hit USD 263.9 Million by 2030
Premium Salicylic Acid Market
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Increase in demand for preserved food & beverages and several personal care products drives the growth of the global premium salicylic acid market. On the other hand, consumer awareness about certain harmful effects of the acid hampers the growth to some extent. However, high adoption of premium salicylic acid in pharmaceuticals and cosmetics and increase in demand for aspirin drugs are expected to create lucrative opportunities in the industry.
The key market players analyzed in the global premium salicylic acid market report include Avonchem limited, J.M. Loveridge Limited, Alfa Aesar, Reagents, Novacyl, Midas Pharma GmbH, Wego Chemical Group, and Solvay Merck KGaA. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Key Findings Of Study:
The report outlines the current premium salicylic acid market trends and future scenario of the market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
The premium salicylic acid market size is provided in terms of volume and revenue.
By application, the pharmaceutical segment garnered 87.7 % share in 2020 in terms of revenue.
The skin care segment is projected to be fastest growing at a CAGR of 9.3% during the forecast period.
Region-wise, Asia-Pacific garnered a share of 34.1% in 2020 in terms of revenue and is projected to be the fastest growing market for premium salicylic acid, at CAGR of 7.6% during the forecast period.
This demand is projected to continue post pandemic as well.
The global premium salicylic acid market is analyzed based on application and region. Based on application, the pharmaceutical segment generated the highest share in 2020, accounting for nearly 90% of the global market. The skin care segment, on the other hand, would portray the fastest CAGR of 9.3% from 2021 to 2030.
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Based on region, the market across Asia-Pacific held the lion's share in 2020, garnering more than one-third of the global market. The same region is also expected to cite the fastest CAGR of 7.6% by the end of 2030. The other provinces studied in the report include Europe, North America, and LAMEA.
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