NEWARK, Del, April 03, 2024 (GLOBE NEWSWIRE) -- The phenoxyethanol market is estimated to be worth US$ 1,742 million in 2024 and is projected to be valued at US$ 2,364 million in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 3.10%.
The market for skincare products is being driven by changes in eating habits and an increase in skin issues brought on by pollution. This in turn is propelling the growth of the phenoxyethanol market. The preservative phenoxyethanol included in skincare products helps to address common skin issues including acne and warts.
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In the coming years, it is anticipated that increased R&D of environmentally friendly and sustainable products will improve the phenoxyethanol market dynamics. Producers of natural cosmetics are being incentivized to create natural products by the government's strict execution of rules aimed at maintaining pH levels and incorporating natural sources into skincare products.
The presence of phenoxyethanol in cosmetics helps shield them from microorganisms that can cause infections and skin discomfort. It's also a key ingredient in deodorants, eye cosmetics, lip products, and water-based skin treatments.
In paraben-free products, phenoloxyethanol is added to enhance the product's quality and prevent skin irritation. The demand for paraben-free goods is being driven by customers' growing awareness of the chemicals included in cosmetic products.
“The increasing spending on cosmetics products and rising demand for paraben-free products drive the phenoxyethanol market,” says Nandini Roy Choudhury, Client Partner at Future Market Insights.
Key Takeaways
- From 2019 to 2023, the phenoxyethanol market expanded at a CAGR of 3.10%.
- Based on the form, the powder segment is expected to account for a market share of 40.50%
- The demand for phenoxyethanol in Germany is predicted to grow at a CAGR of 11% through 2034.
- In the United States, the phenoxyethanol industry is estimated to register a CAGR of 14.80% from 2024 to 2034.
- China is projected to expand by a CAGR of 12.80% between 2024 and 2034.
- The phenoxyethanol market in Japan is anticipated to record a CAGR of 4.50% during 2034.
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Competitive Landscape
Businesses spend money on R&D to create novel formulations, enhance the effectiveness of their products, and broaden the range of applications for phenoloxyethanol. This entails creating innovative distribution methods, combo items, and customized solutions to satisfy changing regulatory standards as well as client expectations.
- As a significant participant in the chemical sector, Dow spends money on technologies that improve the sustainability and efficiency of phenoloxyethanol synthesis.
- They might also place a strong emphasis on partnerships and acquisitions as a means of expanding their product line and fortifying their position in important markets.
More Valuable Insights Available
Future Market Insights offers an unbiased global phenoxyethanol market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand opportunities in the phenoxyethanol industry, the industry is segmented based on Form (Powder, Liquid) by end-use application (Feed Grade, Food Grade, Cosmetic Grade, Pharma Grade), Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
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Phenoxyethanol Market Key Segments
By Form:
- Powder
- Liquid
By End Use Application:
- Feed Grade
- Food Grade
- Cosmetic Grade
- Pharma Grade
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About the Food and Beverages Division at Future Market Insights
The food and beverages team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions, and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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