Octyl Salicylate Market: Key Drivers, Research Insights, and Report 2024-2033

"The new report published by The Business Research Company, titled Octyl Salicylate Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the octyl salicylate market size has grown strongly in recent years. It will grow from $1.13 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The octyl salicylate market size is expected to see strong growth in the next few years. It will grow to $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.

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Rising Demand For Personal Care Products To Drive Market Growth
The increasing demand for personal care products is expected to propel the growth of the octyl salicylate market going forward. A personal care product refers to a group of self-care items used for personal hygiene, cleaning, and grooming. They consist of shampoos, conditioners, toothpaste, creams, coloring products for hair, lipsticks, beauty products, bath soaps, detergents, sunscreens, scents, and home items. Octyl salicylate is used in personal care goods, such as sunscreens, lotions, and other personal care products, to protect skin primarily from UVB rays. For instance, in February 2023, according to L'Oréal S.A., a France-based personal care company, sales of consumer products increased from 11.8% to 14.6% and active cosmetics from 28.0% to 30.6% from the 4th quarter of 2022 to December 31, 2022. With a growth of +21.9% like-for-like and +30.6% based on reported numbers, the Dermatological Beauty Division closed the year with an exceptional gain. Therefore, the increasing demand for personal care products is driving the growth of the octyl salicylate market.

Product Innovations Transforming The Octyl Salicylate Market
Product innovation is a key trend gaining popularity in the octyl salicylate market. Major companies operating in the octyl salicylate market are developing innovative products to sustain their position in the market. For instance, in July 2022, Givaudan, a Switzerland-based chemical manufacturing company, launched Neosalyl. It is a pure substitute for its synthetic alternative. It is an organic form of salicylic acid that is 100 percent natural for the skin and scalp. Neosalyl, made from the pure essential oil of the wintergreen plant through the method of green fractionation, provides all the advantages of dermo-purification for the skin and shine and anti-dandruff capabilities for hair care.

The octyl salicylate market covered in this report is segmented -

1) By Type: Colorless, Light Yellow
2) By Application: Perfume, Soap, Cosmetics, Sunscreens, Other Applications
3) By Distribution Channel: Online, Offline
4) By End-User: Personal Care, Consumer Goods

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Major companies operating in the octyl salicylate market report are Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Evonik Industries AG, DuPont de Nemours Inc., International Flavors & Fragrances Inc., Kao Corporation, Kerry Group plc, Givaudan SA, Lubrizol Corporation, Clariant AG, Symrise AG, Koninklijke DSM N.V., Firmenich SA, Croda International plc, Takasago International Corporation, Sensient Technologies Corporation, Robertet SA, Aceto Corporation, T. Hasegawa Co. Ltd., Bell Flavors & Fragrances Inc., Tokyo Chemical Industry Pvt Ltd., Ernesto Ventos SA, MFCI Co Ltd., Aako BV, Mane SA

Contents of the report:
1. Executive Summary
2. Octyl Salicylate Market Report Structure
3. Octyl Salicylate Market Trends And Strategies
4. Octyl Salicylate Market - Macro Economic Scenario
5. Octyl Salicylate Market Size And Growth
…..
27. Octyl Salicylate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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