Personal Care and Cosmetic Preservatives Market
Personal Care and Cosmetic Preservatives Market by Chemical Type (Benzoic Acid, Benzyl Alcohol, Ethyl Lauroyl Arginate, Parabens, Phenoxyethanol, MIT/MICT), by Source, by Application & Region - Global Forecast to 2031
Personal Care and Cosmetic Preservatives Market Outlook
The personal care and cosmetic preservatives market is anticipated to expand at a CAGR of 5.8% over the forecast period of 2021 to 2031. In 2020, business valuation of personal care and cosmetic preservatives surpassed US$ 345 Mn, which amounted to around 8% share in the overall preservatives market.
As per the latest study by Fact.MR, market research and competitive intelligence provider, personal care and cosmetic preservatives are gaining resilience in the pharmaceuticals and personal care sector on the back of their ability to curb spoilage and prevent undesirable chemical changes in cosmetic formulations. Key preservatives observed in cosmetic formulations are triclosan, methylisothiazolinone, methylchloroisothiazolinone (MICT), and chlorphenesin, benzoic acid, among others.
Globally, consumption of personal care and cosmetic products decreased due to the COVID-19 pandemic in 2020. The market primarily depends on demand from personal care and cosmetic product manufacturers, and with sale of cosmetic and personal products hit, demand for cosmetic preservatives also went down in 2020.
|Personal Care and Cosmetic Preservatives Market Size (2020)||US$ 345 Mn|
|Forecasted Market Value (2031)||US$ 430 Mn|
|Global Market Growth Rate (2021 to 2031)||5.8% CAGR|
|Share of Tier-1 Market Players||65%|
Demand Analysis of Personal Care and Cosmetic Preservatives from 2016 to 2020 Vs Market Outlook for 2021 to 2031
Over the 2016-2020 period, sales of personal care and cosmetic preservatives increased at a CAGR of 4.7%. Growing awareness of the long-term adverse effects on health caused by synthetic chemicals is influencing demand for natural and bio-based personal care and cosmetic preservatives.
Companies across the globe export various personal care and cosmetic ingredients to different countries. Alongside, domestic distribution of personal care and cosmetic ingredients also needs proper storage and transportation, and again, cosmetic preservatives comes in handy. These cosmetic preservatives prevent alternation caused by microorganisms and contamination during shipment, formulation, and storage.
Additionally, growing pharmaceutical usage also drives overall market demand. These preservatives are used to a great extent to prevent the growth of fungi, bacteria, and yeast in pharmaceutical products. The market for personal care and cosmetic preservatives is anticipated to expand at a CAGR of 5.8% and be valued at over US$ 430 Mn by 2031.
Below points summarize the market over the long-run forecast period:
- Demand for personal care and cosmetic preservatives in the pharmaceuticals and personal care sector is rising, on the back of their ability to curb spoilage and prevent undesirable chemical changes in cosmetic formulations.
- Europe accounted for a major chunk of the global market share. The market expanded at a CAGR of 5.9% during 2016-2020, and is anticipated to surge at a CAGR of 6.7% over the forecast period.
- France, China, Italy, and the U.S. are among the prominent business destinations for personal care and cosmetic preservative manufacturers.
- Rising trend of natural and organic cosmetic products is being witnessed across the landscape.
Why is Demand for Personal Care & Cosmetic Preservatives Rising across Europe and East Asia?
Europe is the largest manufacturer of cosmetic products and has driven the consumption of personal care and cosmetics preservatives during the historical period (2016-2020).
The European personal care and cosmetic market was valued at US$ 89 Bn in 2020, and is likely to witness steady growth owing to the increasing demand for beauty products in the region. France, Germany, Italy, and the United Kingdom accounted for over half of regional demand, and this scenario is anticipated to continue over the forecast period as well.
East Asia is one of the largest cosmetic and personal care markets, where China, Japan, and South Korea are key cosmetic producers. Significant growth of the cosmetic sector in South Korea and increasing demand for anti-aging products in Japan add value to market demand for personal care and cosmetic preservatives in the region.
What Makes the U.S. a Prominent Destination for the Personal Care & Cosmetic Preservatives Business?
The United States is one of the leading contributors to the personal care and cosmetic preservative market. The country held over 78% of North American cosmetic preservative demand in 2020. It is anticipated that the U.S. market will expand with a steady CAGR of 6.1% over the forecast period.
Additionally, the U.S. is the largest market for beauty products in the world. The business of beauty and personal care products in the country was valued at over US$ 93 Bn in 2020. In the past half-decade, the country remained in the first position in terms of global beauty product consumption.
Owing to the vast personal care and cosmetic sector along with growing disposable income of people, sales of cosmetic care products with preservatives that help to protect the growth of bacteria and fungus have increased at a significant pace over the decades in the U.S.
How are Bio-Based Products Triggering Overall Market Growth?
Continuous pressure from governments, NGOs, and media campaigns have forced cosmetic manufacturers to reduce the concentration of personal care and cosmetic preservatives. As a result, cosmetic preservative manufacturers have added numerous products with new blends to offer efficient preservation with low concentrations of preservatives.
To meet the increasing demand for natural products, leading market players have already started shifting their product portfolio towards the bio-based or natural segment. Thus, propelling the demand for bio-based personal care and cosmetic preservatives.
- For instance, in 2018, Dow launched two new cosmetic preservative product lines - NEOLONE PH and NEOLONE Bio. NEOLONE Bio is a naturally derived ethyl lauroyl arginate that offers sustainable microbial control with less concentration.
- In 2017-18, Lanxess introduced a new cosmetic preservative product – Solbrol - in the U.S. market designed for rinse-off and leave-on applications. The company also came up with paraben-free preservatives to align with market trends, thus strengthening its product portfolio as an environmentally friendly product supplier.
Significant initiatives and innovative product offerings by market players will drive demand for personal care and cosmetic preservatives over the coming years.
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The competitive landscape involved key manufacturers such as DuPont, Lonza Group Ltd, Clariant AG, Schülke & Mayr GmbH, Ashland, Akema Fine Chemicals, Lanxess AG, Zhengzhou Bainafo Bioengineering Co., Ltd., and ISCA. All these manufacturers are focussed on gaining maximum market valuation, portfolio expansion, and brand development.
Personal Care & Cosmetic Preservatives Industry Report Scope
|Historical Data Available for||2016-2020|
|Market Analysis||Value in US$ Mn, Volume in Kilo Tons|
|Key Regions Covered||
|Key Countries Covered||
|Key Market Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
An Adaptive Approach to Modern-day Research Needs
Key Segments Covered in Personal Care and Cosmetic Preservatives Industry Survey
- Natural Personal Care and Cosmetic Preservatives
- Synthetic Personal Care and Cosmetic Preservatives
By Chemical Type
- Benzoic Acid
- Benzyl Alcohol
- Ethyl Lauroyl Arginate
- Body Washes
- Liquid Soaps
- Leave On
- Creams and Lotions
- Color Cosmetics
- Hair Gels and Mousses
- Leave-in Conditioners
- FAQs -
In 2020, the global personal care and cosmetic preservatives market surpassed a valuation of US$ 345 Mn.
Sales of personal care and cosmetic preservatives are projected to increase at a CAGR of around 5.8% during 2021 – 2031.
Sales of personal care and cosmetic preservatives increased at a CAGR of 4.7% during 2016 – 2020.
Rising demand for natural personal care and cosmetic preservatives is the talk of the town.
Rising application in the cosmetic and pharmaceutical industry is the main reason driving sales of personal care and cosmetic preservatives
Tier-1 manufacturers of personal care and cosmetic preservatives account for around 65% share in the market.
Top 5 countries driving demand for personal care and cosmetic preservatives are China, France, Italy, the U.K., and U.S.
North America accounted for nearly 18% of global personal care and cosmetic preservative demand in 2020.
The European market for personal care and cosmetic preservatives is projected to expand at a CAGR of 6.7% during 2021 – 2031.
The market in China and Japan is slated to expand at 6.4% and 5.8% CAGRs, respectively, with both countries cumulatively accounting for over 80% share in the East Asia market.
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