MarketResearchReports.Biz has announced addition of new report "Global Salicylic Acid Market 2015-2019" to its database.
Market outlook of the salicylic acid market
Technavios market research analyst predicts the global salicylic acid market to grow at a CAGR of around 9% during the forecast period. 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.
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.
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Segmentation by application and analysis of the salicylic acid market
Food and preservatives
Pharmaceuticals is expected to account for around 41% of the market share by the end of 2019. Salicylic acid is used in the treatment of diseases such as psoriasis, seborrhoeic dermatitis, and eczema.
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Geographical segmentation and analysis of the global salicylic acid market
EMEA accounted for the around 45% of the market share during 2014. The report anticipates the region to witness a decline in its market shares during the forecast period. The decrease in growth of cosmetics and personal care segment is expected to affect the growth of this region.
Competitive landscape and key vendors
The global salicylic acid 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.
The key vendors in the market are