Benzyl Salicylate Market Share

North American Market Forecast

North America industry is expected to account for largest revenue share by 2037. The growth of the market can be attributed to the rising demand for personal care products and increased awareness about the therapeutic benefits of salicylate-based products. Moreover, the rising disposable incomes of consumers and growing awareness about personal grooming and hygiene is driving people in the region to invest in good quality products. Additionally, the growing demand for premium fragrances and the increasing availability of these products on online platforms are likely to further drive the growth of the regional market. For instance, 45% of Americans between the ages of 18 and 30 use perfume at least once a day, 29% use perfume a few times a week, and 9% use perfume only occasionally. Women are more likely to use perfume in the US than men. The number of women using perfume daily in the US is 40%, while the number of men using perfume daily is 38%. Benzyl salicylate is often used as a fixative in perfumes, meaning it helps to slow down the evaporation of the fragrance, allowing it to last longer. Additionally, it has a sweet, floral aroma that helps to impart a pleasant scent to the perfume.

APAC Market Statistics

The Asia Pacific benzyl salicylate market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The rapid growth in regional wellness tourism in the region attributed to the increasing awareness of healthy lifestyles and disposable incomes is expected to create lucrative opportunities for benzyl salicylate in Asia Pacific. In addition, people are visiting nearby locations to participate in activities such as yoga, spas, and meditation, which has increased demand for aromatherapy products that contain benzyl salicylate. The region has seen a growth of 16% in wellness tourism and 255 million wellness trips each year. In Asia, there are 48,670 spas, which generate USD 27 billion in revenue. The popularity of aromatherapy products has grown significantly, as people seek to take advantage of their soothing and calming effects. The use of benzyl salicylate in these products makes them especially attractive, as it has a pleasant aroma and is known to be an effective relaxant. Moreover, the region is also witnessing an increasing demand for benzyl salicylate from the healthcare sector, as it is used as a preservative in cosmetics and pharmaceutical products.

Europe Market Forecast

Further, the benzyl salicylate market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed the increasing demand for long-term care products, such as personal care products, home care products, and healthcare products, in the region. The market is being driven by an increasing awareness of the benefits of these products, such as their ability to protect the skin from sun damage, reduce wrinkles, and improve skin texture. Many people in the region have become more conscious of the health and environmental implications of using chemically-based products, so they are increasingly looking for natural, organic solutions. This has been particularly noticeable in Europe, where skin problems are common. It was observed that approximately 90 million Europeans experience uncomfortable skin sensations like itching, burning, and dryness. Benzyl salicylate is an organic compound that is used in topical creams, lotions, and ointments to treat skin conditions such as eczema, psoriasis, and acne. It also helps to reduce inflammation, redness, and itching.