Pune, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The Cosmetic Preservative Market, valued at USD 412 million in 2022 according to the SNS Insider report, is projected to reach USD 686.99 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.6% during the forecast period from 2023 to 2030.
Market Overview
Cosmetic preservatives are chemical compounds added to beauty and personal care products to prevent the growth of harmful microorganisms. These microorganisms thrive in the water-based formulations of cosmetics and can lead to product spoilage and, more importantly, pose risks to the health of consumers. Preservatives inhibit the growth of these microbes, maintaining the integrity of the product and ensuring it remains safe for use over an extended period.
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Market Analysis
Stringent regulations and safety standards imposed by regulatory bodies worldwide have significantly impacted the cosmetic industry. Manufacturers are compelled to comply with these regulations, necessitating the use of preservatives to enhance product stability and prevent microbial contamination. Adhering to these standards boosts consumer confidence, thereby stimulating cosmetic preservative market growth. The beauty and personal care industry is experiencing unprecedented growth, driven by evolving consumer preferences and increasing disposable incomes. With a plethora of new products entering the market, the demand for preservatives to prolong their shelf life and maintain quality has risen substantially. This expansion creates a robust market space for cosmetic preservatives. Continuous research and development in the field of cosmetic preservatives have resulted in the emergence of advanced, multifunctional preservative systems. These innovative solutions not only offer superior antimicrobial properties but also cater to the growing demand for natural and eco-friendly preservatives. Technological advancements enable manufacturers to meet consumer demands effectively, fostering market growth.
Cosmetic Preservative Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 412 million |
| Market Size by 2030 | USD 686.99 million |
| CAGR | CAGR of 6.6% over 2023-2030 |
| Key Segments | By Product (Paraben esters, Phenol derivatives, Alcohols, Formaldehyde donors, Organic acids and their Salts, Quaternary compounds, Inorganics, and Others) By Application (Skin and Sun Care, Hair Care, Baby Products, Fragrances & Perfumes, Makeup & Color, Mouthwash and Toothpaste, Toiletries, and Others) |
| Key Market Players | The Dow Chemical Company, Evonik Industries, Clariant AG, Ashland Inc., BASF SE, Symrise AG, Salicylates & Chemicals Pvt. Ltd, Chemipol, Brenntag AG, Akema Fine Chemicals, Lonza Group Ltd., and other players |
| 20% free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
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Key Takeaway from Cosmetic Preservative Market Study
- The skin and sun care segment stands tall as a crucial player in the Market. With the rising awareness about the detrimental effects of UV rays, consumers are increasingly inclining towards products that offer not only skin nourishment but also protection against sun damage.
- Paraben esters have emerged as frontrunners in the cosmetic preservative market. These chemical compounds, derived from para-hydroxybenzoic acid, exhibit excellent antimicrobial properties. Their ability to inhibit the growth of bacteria, mold, and yeast makes them a preferred choice for cosmetic manufacturers worldwide.
Recent Developments
- Brenntag Specialties, a leading global distributor of specialty chemicals, has announced a significant expansion in its collaboration with ISCA, a renowned preservatives producer. With Brenntag Specialties' global reach and ISCA's cutting-edge preservative technologies, businesses can anticipate access to a wider array of preservative options that not only prolong product shelf life but also ensure the safety and quality of their offerings.
- Clariant, a renowned global specialty chemicals company, has recently introduced a revolutionary product known as Phenoxetol SG. This remarkable development comes at a time when the world is increasingly conscious of the environmental impact of various industries.
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Market Dynamics Analysis
One of the key drivers fueling this market is the escalating demand for cosmetic products globally, propelled by the rising awareness regarding personal grooming, skincare, and hygiene. Additionally, the surge in disposable income and changing lifestyle patterns are influencing consumer preferences, leading to a higher uptake of cosmetic products. Amidst these drivers, there are notable restraints. Stricter regulations and guidelines related to the use of preservatives, owing to their potential health hazards, pose a significant challenge for manufacturers. Balancing the need for effective preservation without compromising consumer safety is a complex task faced by the industry. Furthermore, the cosmetic preservative market contends with challenges related to the constant evolution of consumer preferences and the ever-changing formulations in the cosmetics sector. This necessitates continuous innovation and adaptability from preservative manufacturers to keep up with the demands of the market. Additionally, the market faces threats in the form of alternative natural preservatives, which are gaining popularity due to the growing trend towards organic and clean beauty products.
Key Regional Developments
In North America, stringent regulatory frameworks have compelled cosmetic manufacturers to invest in innovative preservative solutions. The demand for natural and eco-friendly preservatives has surged, fueled by growing awareness regarding the environmental impact of synthetic chemicals. Europe stands at the forefront of sustainable cosmetic preservative solutions. Stringent regulations regarding the use of preservatives have paved the way for extensive research in the region. European cosmetic companies are investing significantly in the development of preservatives that not only meet regulatory standards but also align with the growing demand for sustainable and biodegradable alternatives. The Asia-Pacific region is witnessing remarkable growth in the cosmetic preservative market, driven by rapid urbanization, increasing disposable income, and a burgeoning middle-class population.
Impact of Recession
The recession has led to reduced disposable incomes, causing consumers to cut down on non-essential expenditures, including cosmetics. This decline in demand directly affects the cosmetic preservative market. To cater to changing consumer demands, manufacturers are focusing on research and development. They are investing in creating preservatives that are not only effective but also align with the rising trend of natural and organic cosmetics. Despite the recession, manufacturers are exploring opportunities in emerging markets where the cosmetic industry is still growing. By expanding their presence in these regions, they can mitigate the impact of the recession in established markets.
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Table of Content
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cosmetic Preservative Market Segmentation, By Product
8.1 Paraben esters
8.2 Phenol derivatives
8.3 Alcohols
8.4 Formaldehyde donors
8.5 Organic acids and their Salts
8.6 Quaternary compounds
8.7 Inorganics
8.8 Others
9. Cosmetic Preservative Market Segmentation, By Application
9.1 Skin and Sun Care
9.2 Hair Care
9.3 Baby Products
9.4 Fragrances & Perfumes
9.5 Makeup & Color
9.6 Mouthwash and Toothpaste
9.7 Toiletries
9.8 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.5 USA
10.2.6 Canada
10.2.7 Mexico
10.3 Europe
10.3.1 Eastern Europe
10.3.1.5 Poland
10.3.1.6 Romania
10.3.1.7 Turkey
10.3.1.8 Rest of Eastern Europe
10.3.2 Western Europe
10.3.2.4 Germany
10.3.2.5 France
10.3.2.6 UK
10.3.2.7 Italy
10.3.2.8 Spain
10.3.2.9 Netherlands
10.3.2.10 Switzerland
10.3.2.11.1 Austria
10.3.2.12 Rest of Western Europe
10.4 Asia-Pacific
10.4.5 China
10.4.6 India
10.4.7 Japan
10.4.8 South Korea
10.4.9 Vietnam
10.4.10 Singapore
10.4.11 Australia
10.4.12 Rest of Asia-Pacific
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.5 UAE
10.5.1.6 Egypt
10.5.1.7 Saudi Arabia
10.5.1.8 Qatar
10.5.1.9 Rest of Middle East
10.5.2 Africa
10.5.2.5 Nigeria
10.5.2.6 South Africa
10.5.2.7 Rest of Africa
10.6 Latin America
10.6.5 Brazil
10.6.6 Argentina
10.6.7 Colombia
10.6.8 Rest of Latin America
11 Company Profile
11.1 BASF SE
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/ Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 The Dow Chemical Company
11.3 Clariant AG
11.4 Ashland Inc.
11.5 Symrise AG
11.6 Salicylates & Chemicals Pvt. Ltd.
11.7 Evonik Industries
11.8 Chemipol
11.9 Akema Fine Chemicals
11.10 Brenntag AG
11.11 Lonza Group Ltd.
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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