Escalating Demand for Antimicrobial and Antioxidant Preservatives to Amplify Market Growth, Finds Fact.MR
Published : 20 Mar 2020 Industry: Chemical & Materials
Efficacy in offering protection against microbial invasion to ensure safety while using premium formulations will catalyze the demand for personal care and cosmetic preservatives during the forecast period (2019-2029). Antimicrobial preservatives are gaining immense traction in this sector as they protect cosmetics from inadvertent contamination by consumers. Further, they resist infections caused by microbial growth which upholds their utilization in personal care and cosmetic products. Antioxidant preservatives, for instance help to suppress reactions that occur in the presence of oxygen, light, heat and contaminated metals. Growing demand for personal care products from the men’s segment and heightening consumption of anti-aging products are poised to drive the market at a steady CAGR of ~4% during the forecast period.
Key Takeaways of Personal Care and Cosmetic Preservatives Market:
- Alternative blends that provide resistance against a broad spectrum of microbes without comprising the performance of products will assist the market’s growth.
- Increasing preference for naturally sourced and non-animal based products will create remunerative opportunities in the market.
- Tightened legislation by governments with regard to safety has raised the development costs of formulations, thus squeezing the profit margins of personal care and cosmetic preservative manufacturers.
- Despite increased demand for bio based products, synthetic products are poised to witness high demand growth and accounted for more than three fourth of the market share in 2019
- On the basis of chemical type, phenoxyethanol has maintained its supremacy in the personal care and cosmetic preservatives market and is poised to chart an upward trajectory in the market throughout the assessment period.
“Increasing demand from niche applications like wet wipes, baby wipes and male grooming products are set to augment the personal care and cosmetic preservatives market growth”, says the Fact.MR analyst.
Tightening Legislations by Governments to Pave Way for Innovation
Personal care and cosmetic preservatives market is consolidated in nature in which, DuPont, Lonza Group Ltd, Clariant AG, Schülke & Mayr GmbH, Ashland, Akema Fine Chemicals and Lanxess AG accounted for over one third of the market share in 2018. With tightening legislations on chemicals used in cosmetic products, prominent companies have launched range of natural products to meet the global demand for personal care and cosmetic preservatives. For instance, Dow and Lanxess has expanded their product portfolio to align with the government norms and to maintain their sales during the forecast period.
More Valuable Insights on Personal Care and Cosmetic Preservatives Market:
Fact.MR, in its new offering, presents an unbiased analysis of the personal care and cosmetic preservatives market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on personal care and cosmetic preservatives on the basis of source (natural and synthetic), chemical type (benzoic acid, benzyl alcohol, ethyl lauroyl arginate, MIT/MICT, parabens, phenoxyethanol and others) and application (rinse off and leave on) across six major regions.
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About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs and requirements of entire value chain of Chemical & Materials sector. A team of passionate analysts track the performance of the existing Chemicals & Materials as well as those that have just entered their product life cycle. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the Chemicals & Materials lucidly in 50+ countries for over a decade. The Chemicals & Materials team at Fact.MR has been assisting clients in their business expansion as well as new ventures, through their analysis and recommendations.