The esters or salts derived from salicylic acid are called salicylates. These are found in their natural form in some plants and fruits and are used in manufactured form in several medications, cosmetics, skin care, and as food preservatives to increase the shelf life. In spite of the fact that salicylates are dissimilar from each other to a small degree, in chemical structure, they have almost identical effects in the body. These are primarily used in medication that has anticoagulatory, anti-inflammatory, anodyne, and fever alleviating properties apart from being used in cosmetic, preservative, and food industries. One of the most prominent medicines that salicylates are used as an additive is Aspirin. Salicylates are known to have a vital role in the prevention of cardiovascular diseases due to their anti-coagulating and anti-inflammatory effects. These are the properties that have become prominent in the past decades and are being explored and researched further. Salicylates may prove to have a favorable consequence on diabetic retinopathy.
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There has been a brisk growth in the salicylates market, especially in the health care sector owing to the aforementioned properties. Increasing number of general population is turning toward the use of products containing salicylates for the prevention of cardiovascular diseases, skin ailments, and sports injuries. The comparative low price, minimal side effects, and the potency of salicylates in drugs enable salicylates to be competitive in the age of constantly evolving and innovating health care industry. Increasing awareness concerning the detrimental effects of excessive ingestion of salicylates has been a cause of worry and has resulted in regulatory bodies enforcing the highest permissible limit in various products. There has been incidence of people being salicylate sensitive, resulting in salicylate intolerance or allergies. This has caused people to reconsider the usage of products that contain salicylates or to avoid excessive exposure or ingestion of products containing salicylates. Growing populace is turning toward salicylates in their natural organic form of vegetables, fruits, nuts, grains, and spices. This has curbed the growth of the salicylates market across the globe.
The global salicylates market is segmented into application, route of administration, distribution channel, and region. In terms of application, the salicylates market is segmented into pharmaceuticals, cosmetics, fragrances, and food and preservatives. The pharmaceuticals application is in the form of medicines, ointments, and salves. The cosmetics application is in the form of sunscreens, makeup, shampoos, and moisturizers. The fragrances application is in the form of deodorants and perfumes. The application of food and preservatives is in the form of additives in various food products. Based on route of administration, the market has been divided into oral ingestion and local application. In terms of distribution channel, the market is segmented into pharmacies, chemists, retail distribution, wholesale distribution, and online sales.
Geographically, the salicylates market is distributed over North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is rapidly dominating the global salicylates market. Growing demand for products containing salicylates in medication, cosmetic, and food processing industry is augmenting the growth of the Asia Pacific salicylates market. In terms of market share, Asia Pacific is closely followed by North America and Europe. North America and Europe have acquired a significant market share owing to rise in the demand for products in skin care, food and beverages, and fragrances and medicines, where salicylate is used as a vital component. The market is expanding even in Latin America and the Middle East due to salicylates usage in cosmetics, hair, and skin care products. People increasingly are taking care of their skin and hair issues due to rise in pollution.
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Major players operating in the global market for salicylates include Bayer, Alta Laboratories, Eli Lilly and Company, Zhenjiang Gaopeng Pharmaceutical Co. Ltd., Novocap, Siddharth Carbochem Products Ltd., Alfa Aesar, Banana Boat, Neutrogena, Heinz, and Mondelez International.