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LATAM Cosmetic Preservatives Market Size

  • Report ID: GMI4624
  • Published Date: Apr 2020
  • Report Format: PDF
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LATAM Cosmetic Preservatives Market Size

LATAM cosmetic preservatives market size exceeded USD 95 Million, in 2019 and is estimated to grow at over 4% CAGR between 2020 and 2026. Surging investments by market participants and rapid technological advancements in cosmetics sector will propel regional industry growth during the forecast period.

 

LATAM cosmetic preservatives market
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Cosmetic preservatives are used to prevent variations and decay caused by microorganisms which leads to contaminations during production, transportation, consumer use, and storage. Antioxidants can also be used to protect alteration caused by exposure to oxygen. These products help in reducing risk of infections, decrease microbial spoilage, and preserve fresh attributes along with nutritional quality.

 

LATAM Cosmetic Preservatives Market Report Attributes
Report Attribute Details
Base Year:2019
LATAM Cosmetic Preservatives Market Size in 2019:USD 98.72 Million
Forecast Period:2020 to 2026
Forecast Period 2020 to 2026 CAGR:4.2%
2026 Value Projection:USD 130.74 Million
Historical Data for:2015 to 2019
No. of Pages:608
Tables, Charts & Figures:594
Segments covered:Product, Usage, Application
Growth Drivers:
  • Growing demand for natural and organic cosmetics
  • Rising e-commerce market for selling cosmetics products
  • Increasing working women population
Pitfalls & Challenges:
  • Internal threat of substitution
  • Toxic content in synthetic preservatives
  • Rising prevalence of COVID 19 should hamper industry growth
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Broad-spectrum preservatives can be used to provide protection against broad range of bacteria, microbes, yeast, fungi, and molds, thereby boosting LATAM cosmetic preservatives market share.

 

Strict regulations by Brazil Health Agency (Anvisa) prevailing towards utilization of synthetic based cosmetic preservatives may hamper product demand. Preservatives including formaldehyde and paraformaldehyde are restricted for usage which may hinder overall industry growth.

 

However, companies are investing in new technological developments and production capacity expansions to enhance their product portfolio. For instance, Dupont launched its innovative blends, NEOLONE Bio Preservatives and NEOLONE Phenoxyethanol Preservatives. NEOLONE Bio Preservatives are based on broad-spectrum, naturally derived personal care preservative Ethyl Lauroyl Arginate. Ethyl Lauroyl Arginate is non-irritating, bio-degradable, and non-sensitizing.

 

However, factors including COVID-19 pandemic will have a negative impact on LATAM cosmetic preservatives market growth. The virus spread has led to lockdown of manufacturing plants in order to prevent infection. This may lead to dwindling profits of the manufacturers which may impact the cosmetic preservatives demand for manufacturing the end products.

 

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

According to report, LATAM cosmetic preservatives market size is estimated to be pegged at US$ 130.74 Bn by 2026.

The LATAM cosmetic preservatives market is likely to register a CAGR of 4.2% over the forecast period.

According to the report published by Global Market Insights Inc., the Latin America cosmetic preservatives business is supposed to attain $130 million by 2026.

Growing demand for natural and organic cosmetics, rising e-commerce market for selling cosmetics products and increasing working women population are major factors expected to drive the growth of the market.

BASF, Lonza, Merck KGaA, Sharon Laboratories, Dow Chemical Company, Ashland, Arkema, Clariant AG, Symrise Ag, Schülke, Stepan Company, International Flavours & Fragrances Inc (IFF), LANXESS, Firmenich SA, are some of the top contributors in the industry.

The skincare application segment registered the highest market value in 2019 and is projected to record a remarkable growth rate throughout the forecast period.

LATAM Cosmetic Preservatives Market Scope

  • LATAM Cosmetic Preservatives Market Size
  • LATAM Cosmetic Preservatives Market Analysis
  • LATAM Cosmetic Preservatives Market Share

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    • Base Year: 2019
    • Companies covered: 26
    • Tables & Figures: 594
    • Countries covered: 15
    • Pages: 608
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