Cosmetic Preservatives Market size worth over $1.25 billion by 2026
Published Date: May 18, 2020 Authors: Kunal Ahuja, Sonal Singh
According to a new research report by Global Market Insights, Inc., the cosmetic preservatives market size is set to surpass USD 1.25 Billion by 2026. Increasing investments by market participants and growing technological innovations in cosmetics sector will propel global market during the forecast period.
Cosmetic preservatives are used as ingredients in personal care products to mitigate product deterioration caused by microbial growth. These microbials can damage the product and cause user side-effects thus needs to be eliminated to prevent product spoilage. Cosmetic preservatives find incorporation in personal care products including creams, lotions, and gels thereby driving the cosmetic preservatives market growth.
Cosmetic preservatives aid in prolonged shelf life by preventing microbial growth. According to analysis and trends, rising awareness regarding beauty products along with increasing demand for premium beauty products among men and women will foster global cosmetics industry. Growing demand for high quality and longer product life in cosmetics industry which should boost the cosmetic preservatives market share.
Increasing synthetic cosmetic preservatives usage due to production cost benefit will stimulate industry growth
Synthetic cosmetic preservatives market is anticipated to grow over 6% through 2026. Synthetic preservatives are highly powerful against large microbial spectrum coupled along with its advantage in water and oil-based formulations.
Shifting manufacturers preferences towards lowering production cost and elongating product lifespan will have a positive impact on cosmetic preservatives market demand. Varieties of synthetic cosmetic preservatives include Formaldehyde releasers, Parabens, Phenol derivatives, Alcohols and QAC.
Phenol Derivatives have been used extensively in cosmetic products due to effectiveness against wide range of microbes. Phenol Derivatives are gentle cosmetic preservatives that are non-irritating and do not release formaldehyde. Increasing number of applications of phenol derivatives in cosmetics because of their low costs and easy availability, will enhance phenol derivatives demand.
Browse key industry insights spread across 290 pages with 286 market data tables and 42 figures & charts from the report, “Cosmetic Preservatives Market By Product (Natural/ Organic Preservatives [Plants & Herbal Extracts, Essential Oil, Natural Antioxidants, Organic Acid], Synthetic/ Chemical Preservatives [Parabens, Formaldehyde Releasers, Alcohols, Phenol Derivatives, Quaternary Ammonium Compounds]), By Application (Hair Care, Skin Care, Toiletries, Fragrances and Perfumes, Baby Products), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Rising natural cosmetic products demand in North America will result in stimulating the business growth
North America is anticipated to reach over USD 355 million by 2026. As per market insights, consumer inclination towards natural cosmetics has been prevalent in the U.S. owing to persuading health attributes. Due to rising natural cosmetics demand, companies are launching latest products in order to capture the cosmetic preservatives market share.
For instance, In May 2019, Birkenstock Americas launched its latest natural skin care product in U.S. Through this launch, the company is strengthening its presence in U.S. These factors will boost cosmetics sales in the region.
“As per market forecast, skin application segment is expected to grow at CAGR of over 7% from 2020 to 2026.”
U.S. cosmetics and beauty industry revenue reached USD 49.5 billion in 2019. Rising anti-aging product demand along with working women population should accelerate cosmetics sales. Presence of major cosmetics manufacturers in the country including Vigon International, Libby Labs, Markwins, RNA Corporation and Novopac Laboratories. Thus, aforementioned factors should further boost cosmetics sales resulting in fostering regional cosmetic preservatives market demand.
“As per industry forecasts, Middle East & Africa is anticipated to grow over 6% by 2026 owing to rising premium cosmetics sales”
Major market players in cosmetic preservatives industry are Ashland, BASF, Clariant, DOW, Lonza, Akema Fine Chemicals, Chemipol, Sharon Laboratories, Symrise, Salicylates and Chemicals, Thor Group, Dadia Chemical, Gujarat Organics, Evonik and Isca UK Ltd.
Market players are implementing strategic initiatives including acquisitions & mergers, partnerships, collaborations and new product launches to increase their market share and improve product offerings. For example, In October 2018, Dupont launched its latest products named NEOLONE Phenoxyethanol Preservatives and NEOLONE Bio Preservatives.
NEOLONE Bio Preservative is made from Ethyl Lauroyl Arginate offering bio degradable, non-sensitizing and non-irritating properties. NEOLONE PHBC and NEOLONE PHCG are broad-spectrum preservatives which are designed for leave-on and rinse-off applications which includes creams, lotions, face masks, wipes, and shampoo.