Cosmetic Preservative Market is Forecasted to Grow at a Rate of 6.0% From USD 342.3 Million in 2019 to USD 543.6 Million in 2027
The increasing use of cosmetics and the adoption of advanced technologies in the manufacturing processes have driven the demand for the market.
The global Cosmetic Preservative market is forecast to reach USD 543.6 Million by 2027, according to a new report by Reports and Data. The growing importance of the preservatives in cosmetics to increase shelf life coupled with the upgrading product quality and rising beauty awareness among the population has resulted in an increase in product sales, thus fostering the demand for market growth.
Increasing investment in the research and development for cost-efficient products with the usage of available natural sources of raw material will further enhance the market growth. Moreover, these products are generally premium priced due to their attached psychological desire related to health benefits, which will further propel growth among populations with rising disposable incomes. As regions like the U.S. and Europe have populations possessing high disposable incomes, they are estimated to register higher growth rates.
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Further key findings from the report suggest:
Key participants include BASF SE, Ashland Inc., Lonza Group Ltd., Symrise AG, Akema Fine Chemicals, Clariant AG, Brenntag AG, Salicylates & Chemicals Pvt. Ltd., The DOW Chemical Company, and Chemipol, among others.
The main factors driving the growth of natural products will be the rising need for natural health products and cosmetics for skincare and haircare, coupled with environmentally friendly products.
Increasing expenditure over the R&D department to manufacture cost-efficient products with the usage of available natural sources of raw material will further enhance growth. The strict regulations imposed by the government over the beauty product industry will enhance growth.
The consumers in the North American region are increasingly adopting a holistic approach to health and beauty. They are more driven towards beauty products, which have a touch of technological insights from healthcare as well as biotech companies, also known as a cosmeceutical. Along with this trend, the consumers in the region have become more ingredient-focused and are demanding products that use few chemicals and are free from sulfates, petrochemicals, and phthalate. This is anticipated to create lucrative growth opportunities for the industry.
Hair Care is expected to grow during the forecast period. The global market for hair care is forecasted to exceed USD 210 Million by 2024. Parabens, QAC, FRP, and phenol derivatives have functional preservation properties. An increase in beauty awareness among consumers, along with the development of safe ingredients, will foster the demand of the market.
In March 2020, Clariant launched a new product Velsan Flex which is a next-generation preservative booster for application in the cosmetic industry. The product employs 93% renewable carbon index technology, which is highly effective in combination with all preservative types.
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Product Outlook (Revenue, USD Million; 2017-2027)
- Paraben Esters
- Formaldehyde donors
- Phenol derivatives
- Quaternary compounds
- Organic Acids
Application Outlook (Revenue, USD Million; 2017-2027)
- Skin and Sun Care
- Hair Care
- Fragrances and Perfumes
- Makeup and Color
Raw Material Outlook (Revenue, USD Million; 2017-2027)
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Key questions covered in the global Cosmetic Preservative Market report:
- What is the expected market size of the global Cosmetic Preservative Market during the forecast period?
- What factors are expected to hamper global Cosmetic Preservative Market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Cosmetic Preservative Market?
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