This research report presents a comprehensive segmentation of the global salicylic acid market by application (pharmaceuticals, cosmetics, and food and preservatives) and by geography (APAC, EMEA, North America, and ROW). The key vendors analyzed in this report are Alta Laboratories, Alfa Aesar, Novacap, Sigma-Aldrich, and Zhenjiang Gaopeng.
Technavio’s market research analysts estimate the global salicylic acid market to grow at a CAGR of 9% between 2015 and 2019. The increased use of salicylic acid in the manufacture of aspirin and its extensive application in the pharmaceutical sector is the primary driver for the growth of the market. EMEA is the largest revenue contributing region to the global salicylic acid market, accounting for 45% of the total market share. The decrease in growth of cosmetics and personal care segment is expected to affect the growth of this region.
The new market research report from Technavio provides a breakdown and analysis of the salicylic acid segments by technology.
“An interesting trend emerging in the global salicylic acid market is the growing interest of pharmaceutical giants in the medicine production business. The emergence of generic drug majors has intensified the competition in the pharmaceutical industry, which has pushed vendors to look for business opportunities in the complementing sectors. Vendors are going for consolidations and integrations for economical sourcing to avoid raw material fluctuations. The major players in the market are taking over weaker and mid-sized players for market consolidation,” saysDebasish Nayak, Lead Analyst, Chemicals & Materials, Technavio Research.
The increased preference for preserved food and beverages among consumers is anticipated to contribute to the market growth of salicylic acid during the forecast period. With increasing health consciousness among the global population, consumers are particular about the food they consume and the ingredients used in its processing. The use of salicylic acid in functional foods helps in preventing diabetes, improving health, and treating dermatitis and warts among patients. The demand for functional foods is high in regions such as APAC and North America due to the growing trend of healthy living in these countries.
The key players in the global salicylic acid market include Alta Laboratories, Alfa Aesar, Novacap, Sigma-Aldrich, and Zhenjiang Gaopeng. This market is highly competitive due to the influx of private providers into the market. The market is predicted to witness an increased number or mergers and R&D during the forecast period.
A more detailed analysis is available in the Technavio report, Global SalicylIc Acid Market 2015-2019.
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