Methyl Salicylates Market Size

Methyl Salicylates Market size was valued at USD 212.2 Million in 2023 and is poised to reach USD 458.19 Million by the end of 2036, registering around 6.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of methyl salicylates is assessed at USD 223.85 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.