Asia Pacific Benzyl Salicylate Market is projected to view noteworthy growth during the forecast period on the back of the presence of a large number of consumers present in the region. The market in North America region is also expected to witness growth over the forecast period owing to the higher disposable income of the people.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.

The global benzyl salicylate market is expected to grow at a CAGR of 2% during the forecast period. The market is segmented by end-user into hair care products, skin-care products, and pharmaceuticals & nutraceuticals, out of which, the skincare products sub-segment is expected to acquire a larger share on account of the growing demand for the cosmetics. The benzyl salicylate is also utilized as a UV ray absorber in sunscreens. The increasing usage of sunscreen lotion is estimated to add to the demand for benzyl salicylate.

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The global benzyl salicylate market is projected to grow over the forecast period on the back of the proliferating fragrance and cosmetic industry. People are using a myriad of self-care products, such as musk, soaps, sunscreens, perfumes, and lotions. Benzyl salicylate is the key ingredient in making such products; owing to this the global salicylate market is estimated to witness exemplary growth over the forecast period.

In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit were $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Growing Awareness for Hygiene and Grooming to boost the Market Growth

The global benzyl salicylate market is estimated to witness remarkable growth on the back of growing awareness for hygiene and grooming amongst the people. With the advent of the pandemic, world organizations are campaigning to convey the message of the importance of cleanliness. Additionally, benzyl salicylate is a key ingredient in making products such as soaps and lotions. Owing to this, the global benzyl salicylate market is estimated to witness remarkable growth during the forecast period.

However, the related health hazards are expected to operate as a key restraint to the growth of the global benzyl salicylate market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global benzyl salicylate market which includes company profiling of Zhenjiang Gaopeng Pharmaceutical CO,. Ltd, Jiangsu Puyuan Chemical Co., Ltd, JQC (Huayin) Pharmaceuticals Co., Ltd., ECSA Chemicals AG, LLUCH ESSENCE S.A de C.V., OQEMA AG., Glentham Life Sciences Limited., Taytonn ASCC Pte Ltd, Whole Chem, LLC. and The Lermond Company, LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global benzyl salicylate market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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