Methyl Salicylates Market Size & Share, by Application (Pharmaceuticals, Food & Beverage, Cosmetics & Personal Care); Purity (High, Low) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3209
  • Published Date: Apr 24, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Methyl Salicylates Market size is estimated to reach USD 500 million by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of methyl salicylates was over USD 200 million. The growth of this market can be ascribed to the growing application of methyl salicylates in the pharmaceutical industry. Methyl salicylate use could be highly seen in pain relieving creams and tubes that offer relief to the deadly pain of arthritis or other serious aches. It is also used in medicines to treat joint and muscle pains. As per research, local analgesics for human and veterinary medicine consist of 12% – 20% of methyl salicylate in it.

Besides, its wide application in the pharmaceutical industry. Methyl salicylate utilization can also be seen in the food and beverage industry to add fragrance and flavor to food items. It is widely used as a flavoring agent in chewing gums, candies, and mints. This factor is driving the growth of methyl salicylate in the forecast period.  As per the data, this flavoring agent is used in the food and beverage industry as an important additive.


Methyl Salicylates Market
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Methyl Salicylates Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Use of Methyl Salicylates in End-User Industries – Methyl salicylate application can be seen in various end-user industries such as food & beverage, personal care, pharmaceuticals, and others. This is propelling the growth of the market in the forecast period. Based on end-use industries, methyl salicylate utilization can be seen as flavor additives in the fragrance and personal care industry.
  • Increasing Awareness Regarding Personal Care in the World – Methyl salicylate application can be highly seen in the personal care industry which is expected to drive market growth in the forecast period.  The global wellness economy was valued at USD 4.9 trillion in 2019 and then fell to USD 4.4 trillion in 2020, owing to the widespread impacts of the COVID-19 pandemic.
  • Growing Pharmaceutical Industry – Methyl salicylate application can be seen widely in pain relieving medicines in order to offer relief to arthritis, joint, or muscle pain. For instance, in 2019, 11% of U.S. adults used one or more pain-relieving medicines in the past 30 days.
  • Increasing Concern Regarding Hair and Skin – The market growth of methyl salicylate is driven by the hair and skincare industry. Methyl salicylate plays a major crucial role in the hair and skincare industry. Growing concern related to haircare and skincare is further driving the growth of this market.  In 2020, the haircare and skincare segment held a 48% share of the market.

Challenges

  • Toxicity of Methyl Salicylate – Certain side effects or toxicity of methyl salicylate might lead to health concerns such as irritation of the stomach lining, intoxication, and blistering of skin which may hamper the growth of the market.
  • Side Effects of Methyl Salicylates
  • Not Safe for Young Children

Methyl Salicylates Market: Key Insights

 

Base Year

2022

Forecast Year

2023-2035

CAGR

~6%

Base Year Market Size (2022)

~USD 200 million

Forecast Year Market Size (2035)

~USD 500 million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Methyl Salicylates Segmentation

Application (Pharmaceuticals, Food & Beverage, Cosmetics & Personal Care)

The global methyl salicylates market is segmented and analyzed for demand and supply by application into pharmaceuticals, food & beverage, cosmetic & personal care, and others. Out of these, the pharmaceutical segment is anticipated to hold the largest market share in the forecast period. This can be attributed owing to the growing application of methyl salicylate in the pharmaceutical industry. Owing to the product's classification as a topical analgesic, it is frequently used in essential oil compositions and pain-relieving rubs to treat aches and pains like arthritis. In the upcoming years, it is anticipated that the demand for methyl salicylate will increase owing to the expansion of the pharmaceutical business as a result of numerous measures made by specific governmental authorities and the rise in consumer awareness of health. Moreover, methyl salicylate is employed in medicine to treat a variety of skin conditions, including psoriasis, acne, dandruff, and blemishes. In 2020, around 90 million people in the Asia Pacific region were affected by acne and other skin diseases.

Purity (High, Low)

The global market is segmented and analyzed for demand and supply by purity into high and low. Out of which, the high-level purity segment is expected to account for the largest market share in the forecast period. Natural painkiller methyl salicylate is used to treat joint and muscular pain. High purity levels guarantee that the product is free of impurities and works well to relieve pain. Besides this, methyl salicylate is the most common and significant ingredient in the production of homeopathy medicines. For pharmaceutical and medical items, where purity levels need to be closely controlled, this kind of specification is crucial.

Our in-depth analysis of the global market includes the following segments:

     By Application

  • Pharmaceuticals
  • Food & Beverage
  •  Cosmetics & Personal Care
  • Others

     By Purity

  • High
  • Low

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Methyl Salicylates Industry - Regional Synopsis

APAC Market Statistics

The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period. This can be attributed to the back of expansion of hair and skin care industries, and the high manufacturing of salicylic acid and related products in countries, namely China and India. For instance, Asia Pacific generated sales of more than 31% in the hair care industry in 2019. Also, methyl salicylate is widely used as an important ingredient in pain-relieving tubes and other pain-controlling medicines. Therefore, the pharmaceutical industry is driving the growth of this market in the Asia Pacific region. And China from the Asia Pacific region has one of the biggest pharmaceutical industries in the world.

North American Market Forecast

Moreover, the market in North America is anticipated to occupy the largest market share during the forecast period, which can be credited to the increasing healthcare expenditure, and a growing number of research & development activities in the pharmaceutical sector. In addition, the rising investment of government agencies for the development of enhanced medicines is also expected to fuel the progress of the market in the region. Also, a wide variety of hair care and skin care brands' presence can be seen in the North American region which is expected to be the reason behind the growth of this market.

Europe Market Forecast

Similarly, the market in the Europe region is anticipated to grow significantly in the upcoming forecast period. This can be attributed owing to the growing presence of the skincare and hair care market in this region. Methyl salicylate is currently used as one of the most important ingredients for skin care, hair care, and personal hygiene products. It is used in essential oils and perfumes to add fragrance and flavor to it. Also, rising awareness and concern regarding taking care of skin and hair through social media and other platforms is also propelling the growth of this market. Besides, methyl salicylate is widely used in the manufacturing of drugs, ointments, pain relieving tubes, and medicines. These medicines are prescribed to people with joint pain, arthritis, or muscle pain problems. The pharmaceutical industry of the Europe region highly drives the growth of the methyl salicylate market. Also growing investment by the government and key market players in the region in the development of the pharmaceutical industry is expected to drive the growth of this market in the forecast period.

Research Nester
Methyl Salicylates Market Size
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Companies Dominating the Methyl Salicylates Landscape

top-features-companies
    • Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Alta Laboratories Ltd.
    • Novacyl
    • Tokyo Chemical Industry Co., Ltd.
    • Siddharth Carbochem Products Ltd.
    • Thermo Fisher Scientific India Pvt. Ltd.
    • Rephine Ltd
    • Jiangsu Puyuan Chemical
    • Nanjing Huajian Chemical
    • Shandong Longxin Chemical

In-the-news

In The News

  • A comprehensive range of modalities and platforms, including cell and gene therapies, oral solids, steriles, and biologics will be covered by Thermo Fisher Scientific's demonstration of its experience, innovations, and capabilities at CPHI Frankfurt in OCTOBER 2022.
  • Seqens EDS offers a wide range of methyl salicylate grades further down the salicylic acid chain. Various phenol content ranges are searching for the active component that is best suited for the required formulation. Methyl Salicylate is produced in France by a company that is GMP certified and complies with food-grade standards in order to guarantee a steady supply with a big manufacturing capacity. They adhere to strict quality standards and are free from the Dimethyl sulfate procedure and particular sensory analyses, making our product the norm for the European Pharmacopeia.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 3209
  • Published Date: Apr 24, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The rising use of methyl salicylates in end-user industries and increasing awareness regarding personal care in the world are a few of the important factors responsible for the growth of this market.

The market size of methyl salicylate is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.

The toxicity of methyl salicylates is estimated to act as a barrier to market growth.

Asia Pacific is estimated to create notable growth opportunities for market growth over the forecast period.

The major players in the market are Alta Laboratories Ltd., Novacyl, Tokyo Chemical Industry Co., Ltd., Siddharth Carbochem Products Ltd., and Thermo Fisher Scientific India Pvt. Ltd, and Others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by application, purity, and by region.

The pharmaceutical segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Methyl Salicylates Market Report Scope
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