The cosmetic preservative industry is expected to record around 8% CAGR between 2022 and 2028, driven by the increasing incorporation of preservatives into cosmetic products to increase shelf life.
SELBYVILLE, Del., April 6, 2022 / PRNewswire / – The value of the global cosmetic preservative market is expected to increase 1.65 billion dollars by 2028, according to a new research report from Global Market Insights Inc. Greater focus on personal care and greater purchasing power will accelerate industry demand.
The natural antioxidant segment is bound to overtake 195 million dollars by 2028. Natural antioxidants are widely used in cosmetic products due to their ability to reduce the oxidation rate in oil formulations and extend their shelf life. Vitamin E, Vitamin C, flavonoids and polyphenols are some of the natural antioxidants used in cosmetic preparations. Vitamin E also improves the appearance of the skin and reduces scars and wrinkles. Increasing consumer awareness of the side effects of chemical ingredients coupled with the growing demand for multifunctional ingredients should spur business expansion.
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The growing demand for anti-aging ingredients coupled with the high inclination to maintain healthy, youthful skin is expected to fuel the demand for natural antioxidants for cosmetic application, thus propelling the industry landscape. The growing consumer preference for skin care products with skin conditioning functions such as reducing wrinkles on the skin, controlling acne and reducing the effects of aging will spur commercial prospects.
Some important findings of the Cosmetic Preservatives market report include:
The segment of plant and herb extracts has surpassed 83.5 million dollars in 2021 and is estimated to show a CAGR of 7.5% through 2028, driven by its ability to prevent unpleasant odors, discoloration and degradation of active compounds in cosmetics.
The segment of products for children has passed 80 million dollars in 2021 and is likely to record a CAGR of 7.5% during the review period driven by government initiatives to promote baby hygiene coupled with the growing presence of international brands offering a variety of baby products.
The segment of alcohol-based preservatives is expected to reach 50 million dollars by 2028, driven by the growing demand for luxury cosmetics coupled with the growing use of men’s care products such as aftershaves, perfumes and deodorants.
North America market demand is mainly driven by skin, hair and toiletry care applications.
Browse key industry information spread across 280 pages with 287 market data tables and 41 report figures and charts“Cosmetic P.ReservedS. Market Forecasts By product (natural / organic P.reservations [Plants & Herbal Extracts, Essential Oil, Natural Antioxidants, Organic Acid]Synthetic / Chemical P.reservations [Parabens, Formaldehyde Releasers, Alcohols, Phenol Derivatives, Quaternary Ammonium Compounds]), Application (hair care, skin care, toiletries, fragrances and perfumes, baby products)Industry Analysis report, regional prospects, application potential, price trends, competitive market Share and forecast, 2022-2028” in detail together with the summary:
The market for cosmetic preservatives from the fragrance and perfume segment is set to overtake 140 million dollars by 2028. The increase in consumer preference for personal grooming, supported by an increase in the development of new and personalized fragrances, is expected to stimulate demand for products. Fragrances and perfumes contain formaldehyde liberators and alcohols for the development of self-preserving products will affect the market revenue.
The focus of manufacturers on the development of new fragrances and perfumes, coupled with the growing propensity of consumers to spend on luxury products, is likely to drive the size of the market. The increasing availability of various retail channels along with the widespread use of fragrances to provide luxury goods with a distinctive smell for luxury packaging is likely to increase the demand for fragrances and perfumes.
Europe the market for cosmetic preservatives has surpassed 385 million dollars in 2021 and an 8% CAGR expansion is expected through 2028. The boom in the cosmetics industry together with the widespread presence of various regional cosmetics manufacturers is expected to foster regional market expansion. It is estimated that increasing R&D spending on the development of innovative cosmetic materials, coupled with technical advances in safety testing, will generate the expansion of the industry into Europe.
The increase in disposable income coupled with the growing awareness of beauty among consumers is driving the demand for cosmetic products Europe. Strict regulations relating to the processing of beauty products along with growing consumer awareness of natural cosmetics are expected to foster the industry landscape.
The market for cosmetic preservatives is competitive and includes various players in the sector such as Lonza, AshlandArkema Fine Chemicals, BASF, DuPont de Nemours, Sharon Laboratories, Symrise AG, Thor Group Ltd, Chemipol, Salicylate and Chemical Pvt Ltd. and Dadia Chemical Industries.
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SOURCE Global Market Insights Inc.