The Business Research Company’s Octyl Salicylate Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Octyl Salicylate Global Market Report 2023 evaluates octyl salicylate market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global octyl salicylate market is poised for growth, foreseeing an expansion from $1.05 billion in 2022 to $1.13 billion in 2023, driven by a commendable compound annual growth rate (CAGR) of 7.2%. However, the outlook is impacted by the Russia-Ukraine war, which has impeded global economic recovery post the COVID-19 pandemic. This geopolitical conflict instigated economic sanctions, heightened commodity prices, and induced supply chain disruptions, contributing to widespread inflation in goods and services. Despite these challenges, the octyl salicylate market is anticipated to achieve a valuation of $1.44 billion by 2027, supported by a sustainable CAGR of 6.2%.
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. For instance, in February 2023, according to L’Oréal S.A., a France-based personal care company, sales of consumer products increased from 11.8% to 14.6% and active cosmetics from 28.0% to 30.6% from the 4th quarter of 2022 to December 31, 2022. With a growth of +21.9% like-for-like and +30.6% based on reported numbers, the Dermatological Beauty Division closed the year with an exceptional gain. Therefore, the increasing demand for personal care products is driving the growth of the octyl salicylate market.
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The octyl salicylate market segments in the report are:
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
Top 5 Major Key Players Are:
Cargill Incorporated
Archer Daniels Midland Company
BASF SE
Evonik Industries AG
DuPont de Nemours Incorporated
Table Of Contents
1. Executive Summary
2. Octyl Salicylate Market Characteristics
3. Octyl Salicylate Market Trends And Strategies
4. Octyl Salicylate Market – Macro Economic Scenario
5. Global Octyl Salicylate Market Size and Growth
…….
32. Global Octyl Salicylate Market Competitive Benchmarking
33. Global Octyl Salicylate Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Octyl Salicylate Market
35. Octyl Salicylate Market Future Outlook and Potential Analysis
36. Appendix
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