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%. The anticipated growth in the forecast period can be attributed to the demand for photostable sunscreen ingredients, the expansion of the fragrance industry, the influence of fashion and beauty standards, an increase in dermatologist recommendations, and the introduction of water-resistant formulas. Major trends expected in the forecast period include advancements in sunscreen formulations, innovation in skincare technologies, technological enhancements in cosmetic formulations, the promotion of sustainable and eco-friendly products, and collaborations with health and wellness brands.
The octyl salicylate market is expected to witness growth due to the increasing demand for personal care products. Personal care products encompass a range of self-care items utilized for personal hygiene, cleaning, and grooming, including shampoos, toothpaste, creams, sunscreens, and more. Octyl salicylate, employed in items such as sunscreens and lotions, plays a role in shielding the skin from UVB rays. For example, in February 2023, L'Oréal S.A., a French-based personal care company, reported increased sales in consumer products and active cosmetics, emphasizing the significance of Dermatological Beauty Division's exceptional growth.
The rising incidence of skin cancer is anticipated to drive the octyl salicylate market forward. Skin cancer, originating from unrepaired DNA damage caused by UV radiation, underscores the importance of sun protection. Octyl salicylate, with its UV-absorbing properties, is crucial in sunscreens to prevent skin damage. In 2020, World Cancer Research Fund International reported 324,635 new cases of Melanoma of skin cancer. The American Cancer Society projects 97,610 new melanoma cases in the United States for 2023. This underscores the relevance of octyl salicylate in addressing the growing concern of skin cancer.
The growth of the cosmetics industry is set to contribute to the expansion of the octyl salicylate market. The cosmetic industry focuses on producing and selling goods that enhance physical appearance, and octyl salicylate is a key ingredient in cosmetics for protecting the skin from UVB rays. In 2022, the Cosmetic, Toiletry, and Perfumery Association Limited reported a rise in small and medium-sized companies in the European cosmetic industry. Fragrances and decorative cosmetics divisions witnessed growth in 2022 compared to 2021, emphasizing the positive impact of the cosmetics industry on the octyl salicylate market.
The octyl salicylate market is experiencing a surge in product innovation as major companies strive to maintain their market position. For example, Givaudan, a chemical manufacturing company based in Switzerland, introduced Neosalyl in July 2022. Representing a pure substitute for its synthetic counterpart, Neosalyl is an organic form of salicylic acid derived entirely from the pure essential oil of the wintergreen plant using green fractionation. This innovation provides natural dermo-purification benefits for the skin and imparts shine while offering anti-dandruff capabilities for hair care.
Leading companies in the octyl salicylate market are actively engaged in developing inventive products to secure a competitive advantage. An illustrative instance is Coopera, a US-based cosmetics company, which launched an Oil-free Sunscreen in March 2023. This type of sunscreen is specially formulated to be free of oils or oil-based ingredients. The oil-free formulation, combined with potentially hypoallergenic ingredients, aims to minimize irritation and discomfort, particularly for individuals with sensitive skin. With key components such as 3% Avobenzone, 2.7% Oliclin, 5% Octyl Salicylate, and 10% Homosalate, this sunscreen caters to the preferences of consumers with sensitive and oily skin, offering them diverse options in sunscreen solutions.
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.
Asia-Pacific was the largest region in the octyl salicylate market in 2023. The regions covered in the octyl salicylate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the octyl salicylate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The octyl salicylate market consists of sales of salicylic acid and 2-ethylhexanol. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
Executive Summary
Octyl Salicylate Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on octyl salicylate market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for octyl salicylate? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered: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
Key Companies Mentioned: Cargill Incorporated; Archer Daniels Midland Company; BASF SE; Evonik Industries AG; DuPont de Nemours Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.21 Billion |
Forecasted Market Value ( USD | $ 1.53 Billion |
Compound Annual Growth Rate | 6.2% |
Regions Covered | Global |