Cosmetic Preservative Market Forecast, Size and Gross Margin Analysis by 2024
The global Cosmetic Preservative Market size is expected to value at USD 458.8 million by 2024. The market is subject to witness a substantial growth due to the shifting trend towards use of natural cosmetic products. High-end demand from Asia Pacific region, particularly from countries such as India, South Korea and China is expected to fuel market growth over the forecast period. Preservatives are considered as a vital ingredient of cosmetics products due to minimize adverse effects caused by microorganisms.
Additionally,
preservatives help to curb contamination in case of the product utilization.
Preservatives also help to enhance shelf life of the cosmetic product. These
factors are expected to fuel the growth of cosmetic preservative industry over
the forecast period. Globally, the cosmetic preservative market is predicted to
grow at higher CAGR in the forecast period, providing numerous opportunities
for market players to invest for research and development in the market.
Shifting trend towards use of herbal cosmetics products owing to increasing
awareness among general population regarding numerous benefits of products over
the synthetic products is estimated to aggravate market demand for cosmetic
preservative over the forecast period.
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Global
Cosmetic Preservatives Product Outlook (Revenue, USD Million, 2014 - 2024)
•
Paraben esters
•
Formaldehyde donors
•
Phenol derivatives
•
Alcohols
•
Quaternary compounds
•
Organic acids
• Others
Global
Cosmetic Preservatives Application Outlook (Revenue, USD Million, 2014 - 2024)
•
Skin & sun care
•
Hair care
•
Toiletries
•
Fragrances & perfumes
•
Makeup & color
• Others
The skin & sunscreen care is considered as one of the fastest growing segment in the cosmetic preservative market with substantial revenue generation in the last few years. Growing popularity of cosmetic preservative in the skin & sunscreen care segment is attributed to the rising awareness associated with harmful effects caused by ultra-violet rays on the skin. The toiletries segment has also witnessed substantial growth owing to the increasing demand for soaps, face wash, shower gels, shaving creams, and bath oils.
The key players in the cosmetic preservative industry are Ashland Inc., BASF SE, Clariant Co., The Dow Chemical Co., Lonza Group Ltd., Akema Fine Chemicals Co., Symrise AG, Salicylates & Chemicals Pvt., Ltd., Brenntag AG, and Chemipol S.A.
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The cosmetic preservative
industry is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies in cosmetics sector,
increase in the number of research & development activities in the region
and existence of well-established manufacturing infrastructure.
Asia-Pacific region is
predicted to hold major market share in the cosmetic preservatives market with
massive growth in forecast period. Countries such as India, China and Singapore
are leading the Asia-Pacific market with rising demand for cosmetics,
increasing awareness associated with personal hygiene & cleanliness,
growing disposable income, and significant investment by leading industry
players considering potential growth opportunities in the region.
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