Global Octyl Salicylate Market Size, Share And Growth Analysis For 2024-2033
Octyl Salicylate Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Octyl Salicylate Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, August 5, 2024 /EINPresswire.com/ -- The octyl salicylate market1 has experienced robust growth in recent years, expanding from $1.13 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to growth in cosmetic and personal care industry, increase in consumer awareness of uv protection, expansion of organic and natural cosmetics, rise in skincare product demand, increase in outdoor recreational activities.
Strong Future Growth Anticipated
The octyl salicylate market is projected to continue its strong growth, reaching $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to demand for photostable sunscreen ingredients, expansion of the fragrance industry, influence of fashion and beauty standards, rise in dermatologist recommendations, introduction of water-resistant formulas.
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Growth Driver Of The Octyl Salicylate Market
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.
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Major Players And Market Trends
Key players in the octyl salicylate market include Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Evonik Industries AG, DuPont de Nemours Inc., International Flavors & Fragrances Inc.
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.
Segments:
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
Geographical Insights: Asia-Pacific Leading The Market
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
Octyl Salicylate Market Definition
Octyl salicylate is a colorless, oily liquid ester formed by condensing salicylic acid with 2-ethyl hexanol. It is an organic compound used as an ingredient in sunscreens and cosmetics to absorb ultraviolet B rays from the sun.
Octyl Salicylate Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Octyl Salicylate Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on octyl salicylate market size2, octyl salicylate market drivers and trends, octyl salicylate market major players, octyl salicylate competitors' revenues, octyl salicylate market positioning, and octyl salicylate market growth across geographies. The octyl salicylate market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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