Prominent players in the personal care and cosmetic preservatives market are pushing for the incorporation of natural preservatives, which require lower concentrations, with superior efficacy.
ROCKVILLE, MD / ACCESSWIRE / May 5, 2020 / The personal care and cosmetic preservatives industry is projected to grow at a steady CAGR of 4% between 2019 and 2029. The widespread demand arising from the pharmaceutical and personal care sectors to minimize product spoilage is a key factor bolstering revenue growth. The ability of preservatives to act on multiple bacterial strains will continue to aid the growth of the personal care and cosmetic preservatives market. This promising growth outlook can be attributed to the importance being given to sustainability and formulation compatibility, reveals Fact.MR in its new study.
“Rising demand from niche end user products such as baby wipes, wet wipes, and grooming products will support the personal care and cosmetic preservatives market growth,” says the Fact.MR report.
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Personal Care and Cosmetic Preservatives Market – Key Takeaways
- The synthetic products segment holds leading demand growth and three quarters market share, despite growing demand for bio-based alternatives.
- Phenoxyethanol remains highly preferred accounting for major rise in growth rate through the forecast period.
- Antioxidant preservatives are poised to witness a high growth rate through the end of the assessment period.
- Europe is a leading market, and accounted for US$ 78 Bn in 2018, with major impetus arising from UK, France, Italy, and Germany.
- East Asia is anticipated to display major growth rate through 2029, driven by cosmetics production in South Korea, China, and Japan.
Personal Care and Cosmetic Preservatives Market – Key Driving Factors
- The rising efficacy in protecting personal care and cosmetic products against microbes and contamination are driving the demand in global market.
- The rising demand for men’s personal care, and anti-aging products support growth of global market.
- The rising adoption of alternative blends of personal care and cosmetic preservatives to counter wider range of microbes has resulted in widespread application, bolstering growth.
- Niche demand for non-animal, natural personal care and cosmetic preservatives is generating remunerative opportunities in the industry.
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Personal Care and Cosmetic Preservatives Market – Key Constraints
- Increasing strictness of regulations and inspections associated with safety standards, has increased development costs, reducing profit margins.
- Consumer awareness about side effects of synthetic preservatives will challenge the market.
Impact of Covid-19 Outbreak
With the widespread impact of the coronavirus outbreak, and the high level of contagiousness of the ailment, most makeup artists, nail artists, and hairstylists around the world have been pushed to temporarily shut shop, following government guidelines, and mandatory curfews.
Further, governments are also encouraging patients and dermatologists to cancel all non-emergency appointments. Brick and mortar cosmetic and personal care shops have also been significantly impacted. These trends are anticipated to restrict the global personal care and cosmetic preservatives market, for the coming months. However, online sales will allow manufacturers and businesses to minimize some losses during this period.
The global personal care and cosmetic preservatives market is largely consolidated. The leading players profiled in the report include, but are not limited to Lanxess AG, DuPont, Akema Fine Chemicals, Lonza Group Ltd., Ashland, Calriant AG, and Schülke & Mayr GmbH. Market leaders are investing in efforts to reduce preservative concentrations in end products, following media and government pressure. Manufacturers are channeling their efforts developing eco-friendly, paraben free product offerings as indicated by the Fact.MR report.
About the Report
This 170-page study offers readers a comprehensive market forecast of the personal care and cosmetic preservatives market. Global, regional and country level analysis of the latest industry trends impacting the personal care and cosmetic preservatives market are covered in this Fact.MR study. The report offers compelling insights on the personal care and cosmetic preservatives market on the basis of source (natural and synthetic), chemical type (benzoic acid, benzyl alcohol, ethyl lauroyl arginate, MIT/MICT, parabens, phenoxyethanol, and others), and applications (rinse off, and leave on) across seven regions (Middle East and Africa, South Asia, Oceania, East Asia, Europe, Latin America, North America).
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