LATAM Cosmetic Preservatives Market size worth over $130 million by 2026
Published Date: April 14, 2020 Authors: Kunal Ahuja, Sonal Singh
According to a new research report by Global Market Insights, Inc., the LATAM Cosmetic Preservatives Market size is set to surpass USD 130 Million by 2026.
Cosmetic preservatives are ingredients added to personal care products to avoid putrefaction caused by growth of microbes. These microorganisms can spoil the product and cause side-effects on user which should propel product demand. Cosmetic preservatives finds application in personal care goods that contain liquids including creams, lotions, and gels, thus driving the LATAM cosmetic preservatives market.
Cosmetic preservatives helps in extending longer product shelf life by mitigating microbial growth. As per market forecast, increasing cosmetics sales along with investments will foster regional cosmetics industry. Escalating need for high quality and longer product life in cosmetics industry should boost the LATAM cosmetic preservatives market growth.
Growing synthetic cosmetic preservatives demand owing to production cost effectiveness will stimulate industry growth
Synthetic cosmetic preservatives is anticipated to grow over 4% through 2026. Synthetic preservatives are highly effective against large microbial spectrum along with its effectiveness in oil-based and water-based formulations.
Increasing formulators focus towards cost effectiveness and extending product lifespan will have a positive influence on the LATAM cosmetic preservatives market demand. Types of synthetic preservatives include Parabens, Formaldehyde releasers, Phenol derivatives, Quaternary ammonium compounds (QAC) and Alcohols. Phenol derivatives are widely used in skin care and hair care cosmetics owing to their popularity as a gentle preservative that is considered non-irritating and does not release formaldehyde.
Parabens segment accounts for nearly 9% of LATAM cosmetic preservatives market share owing to wide utilization in shampoos, moisturizers, gels, toothpaste, and face creams. It offers protection against large microbial spectrum along with its efficacy in oil-based and water-based formulations, which will favor the product demand.
Browse key industry insights spread across 608 pages with 547 market data tables and 47 figures & charts from the report, “LATAM Cosmetic Preservatives Market By Product (Natural/ Organic Preservatives, Synthetic/ Chemical Preservatives, By Usage (Caprylyl Glycol, Glyceryl Caprylate, Ethylhexylglycerin, Hydroacetophenone, Decylene Glycol), By Application (Hair Care, Skin Care, Toiletries, Fragrances And Perfumes, Baby Products), Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/latam-cosmetic-preservatives-market
Rising working women population in the Mexico should promote cosmetic sales which will result in stimulating the market growth
Mexico cosmetic preservatives market is anticipated to reach over USD 15 million by 2026. As per market insights, it has been witnessed that working women use more cosmetics than unemployed women owing to frequent exposure to sun, dust, and pollutants and to protect their skin from acne and dullness. Rising women participation in the work force has increased the demand for cosmetic products in the region.
“According to market analysis and trends, LATAM cosmetic preservatives market from toiletries application is expected to grow at CAGR of over 3.5% from 2020 to 2026.”
As per UN’s Sustainable Development Goals (SDG) initiative, the fifth goal of this initiative is to provide gender equality. This initiative helps in providing women and girls with equal access to education, health care and decent work. These factors will propel women participation in Latin American economic development. Thus, promoting cosmetics sales which will result in propelling LATAM cosmetic preservatives market growth.
“As per industry forecasts, Colombia cosmetic preservatives is anticipated to grow over 5% through 2026 owing to presence of major cosmetics brands including Belcorp and L'Oréal”
Key market participants in LATAM cosmetic preservatives industry are 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, Alban Muller International, Tagra, Royal DSM, Synthite Industries Ltd and Vantage.
As per market analysis & trends, companies are involved in various initiatives including new product launch, acquisitions & mergers, partnerships and collaborations to increase their market share and improve product offerings. For example, In October 2018, Schülke developed a highly effective cosmetic preservative, euxyl K 830. This product includes new OCX Efficacy Enhancing System in combination with Phenoxyethanol. The cosmetic preservative offers superior efficacy even in neutral pH ranges.