Global Methyl Salicylate Market Report and Forecast 2023-2028

Global Methyl Salicylate Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global methyl salicylate market is being aided by the salicylate market. Aided by the increasing demand for analgesic and anti-inflammatory products and the growing applications of methyl salicylate in various industries, the global salicylate market is expected to grow at a CAGR of 6.7% in the forecast period of 2023-2028.

Methyl salicylate, known as wintergreen oil, is an organic ester that is widely used as a flavouring agent and in topical pain relief products. As an effective counterirritant in topical analgesics, it plays a vital role in relieving muscle and joint pain.

The increasing consumer preference for products related to health and wellness is driving the global methyl salicylate market growth. With growing awareness of the benefits associated with active lifestyles, there has been a significant uptick in demand for topical pain relief products, including those containing methyl salicylate, which is effective in treating minor aches and pains of the muscles/joints (e.g., arthritis, backache, sprains).

The safety and effectiveness of methyl salicylate have been evaluated in various regions, resulting in specific regulations concerning its usage. In the United States, for example, the FDA regulates the use of methyl salicylate in over the counter (OTC) products. Compliance with such regulations, ensuring the safety and effectiveness of products, plays a crucial role in impacting the methyl salicylate market outlook.

The industrial applications of methyl salicylate are also playing a significant role in propelling the market. In addition to its use in healthcare, methyl salicylate is commonly used as a flavouring agent in food and beverages due to its minty flavour. It is also employed in cosmetics and personal care products, offering pleasant fragrances in products such as lotions, creams, and perfumes.

Technological advancements and innovation are crucial in the methyl salicylate market expansion. As the demand for green and sustainable products grows, manufacturers are increasingly focusing on developing eco-friendly production processes. For example, some companies are investing in methods to produce methyl salicylate through biotechnological pathways, using bacteria or fungi, which could offer a more sustainable alternative to traditional chemical synthesis methods.

As per the methyl salicylate market analysis, North America dominates the market due to high consumer demand for topical pain relief products and a strong healthcare sector. The Asia-Pacific region is expected to emerge as a significant market, with China, India, and Southeast Asian countries leading due to growing middle-class populations and increasing awareness of health and wellness.

Market Segmentation

The market can be divided based on application and region.

Market Breakup by Application

• Food and Beverages
• Cosmetics and Personal Care
• Pharmaceuticals
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global methyl salicylate market. Some of the major players explored in the report by Expert Market Research are as follows:

• Seqens Group
• Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
• Alta Laboratories Ltd.
• Tokyo Chemical Industry Co., Ltd.
• Siddharth Carbochem Products Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.