Methyl Salicylates Market Trends

Growth Drivers

• Rising Use of Methyl Salicylates in End-User Industries – Methyl salicylate application can be seen in various end-user industries such as food & beverage, personal care, pharmaceuticals, and others. This is propelling the growth of the market in the forecast period. Based on end-use industries, methyl salicylate utilization can be seen as flavor additives in the fragrance and personal care industry.

• Increasing Awareness Regarding Personal Care in the World – Methyl salicylate application can be highly seen in the personal care industry which is expected to drive market growth in the forecast period.  The global wellness economy was valued at USD 4.9 trillion in 2019 and then fell to USD 4.4 trillion in 2020, owing to the widespread impacts of the COVID-19 pandemic.

• Growing Pharmaceutical Industry – Methyl salicylate application can be seen widely in pain relieving medicines in order to offer relief to arthritis, joint, or muscle pain. For instance, in 2019, 11% of U.S. adults used one or more pain-relieving medicines in the past 30 days.
• Increasing Concern Regarding Hair and Skin – The market growth of methyl salicylate is driven by the hair and skincare industry. Methyl salicylate plays a major crucial role in the hair and skincare industry. Growing concern related to haircare and skincare is further driving the growth of this market.  In 2020, the haircare and skincare segment held a 48% share of the market.

Challenges

• Toxicity of Methyl Salicylate – Certain side effects or toxicity of methyl salicylate might lead to health concerns such as irritation of the stomach lining, intoxication, and blistering of skin which may hamper the growth of the market.
• Side Effects of Methyl Salicylates
• Not Safe for Young Children