Benzyl Salicylate Market Segmentation:
Purity Segment Analysis
The global benzyl salicylate market is segmented and analyzed for demand and supply by purity into <99% and 98%. Out of these segments, the 98% purity segment is estimated to gain the largest market share by the end of year 2035. Benzyl salicylate is a naturally occurring compound found in many plants and fruits, and its use as a flavoring agent and preservative has been increasing over the past decade due to its low cost and efficacy. Additionally, as it is highly soluble in ethanol, it is commonly used in food products that require a high degree of purity, such as candy and baked goods. As per FDA approvals, benzyl salicylate must be found at least in 98% of the concentration in food products containing it. Further, 98% purity benzyl salicylate has a low odor threshold, making it a great choice for food and beverage manufacturers looking to enhance the flavor of their products. It is also a versatile additive, allowing manufacturers to create a range of flavors and textures. In addition, its long shelf life makes it an attractive option for food and beverage producers looking to extend the shelf life of their products. In light of all these factors, segment growth is expected to be fuelled during the forecast period.
End-user Segment Analysis
The global benzyl salicylate market is also segmented and analyzed for demand and supply by end user into hair care products, skin care products, pharmaceuticals & nutraceuticals. Out of these segments, the skin care products segment is estimated to gain the largest market share by the end of year 2035. The growth of the segment can be attributed to the growing trend of using natural ingredients in skin care products, increasing demand for organic skin care products and the rising demand for anti-aging products. Additionally, the growing influence of social media is driving more people to use skin care products, as more people are exposed to beauty trends, influencers, and advertisements. The rise of online shopping has also made it easier for people to purchase skin care products, as they no longer need to go to a physical store. As a result, demand for skin care products has steadily increased, which is expected to boost revenue in coming years. Skincare products account for 43% of cosmetics sales, which makes them the biggest segment in the industry. A further 8% increase was seen in 2022 in sales of men's skincare products. Benzyl Salicylate is also a natural anti-inflammatory, which can help reduce swelling and redness. It is also known to be non-irritating, making it an ideal ingredient for sensitive skin. As more people become conscious of their skin health and look for natural, organic skin care products, the demand for skin products containing benzyl salicylate is likely to continue to grow.
Our in-depth analysis of the global market includes the following segments:
|
By Purity |
|
|
By End User |
|
