5th January 2020 – Global Cosmetic
Preservative Market Research Report Presents Intellect by
Leading Players, Type, Applications, Distribution Channel, Consumption, Revenue
(Mn/Bn USD) and Region –Forecast to 2024.
The global Cosmetic Preservative Market
size is expected to value at USD 458.8 million by 2024. The market is subject
to witness a substantial growth due to the shifting trend towards use of
natural cosmetic products. High-end demand from Asia Pacific region,
particularly from countries such as India, South Korea and China is expected to
fuel market growth over the forecast period. Preservatives are considered as a
vital ingredient of cosmetics products due to minimize adverse effects caused
by microorganisms.
Additionally, preservatives help to curb
contamination in case of the product utilization. Preservatives also help to
enhance shelf life of the cosmetic product. These factors are expected to fuel
the growth of cosmetic preservative industry over the forecast period.
Globally, the cosmetic preservative market is predicted to grow at higher CAGR
in the forecast period, providing numerous opportunities for market players to
invest for research and development in the market. Shifting trend towards use
of herbal cosmetics products owing to increasing awareness among general
population regarding numerous benefits of products over the synthetic products
is estimated to aggravate market demand for cosmetic preservative over the
forecast period.
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Additionally, rising female workforce
and escalating demand for cosmetics and skin-care products is considered as one
of the prominent growth factors in the recent years for the cosmetic
preservative. Organic preservatives are largely utilized for production of the
conventional cosmetics and skin care products due to their cost-effectiveness
and easy availability. The recent technological developments in the
bi-technology coupled with development of novel products in the cosmetics and
skin-care industry are predicted to foster market growth over the forecast
period.
Additionally, shifting focus towards the
organic cosmetic and skin care products is expected to drive the market
expansion as well. Organic cosmetic and skin products involving green solutions
like that of naturally occurring raw materials for production of cosmetic
preservative is estimated to expand market in the upcoming years. Increasing
use of the cosmetic preservative in the various application such as toiletries
and medical treatment is anticipated widen market reach in the near future.
Increasing demand from Asia Pacific, Latin America, and Middle East region due
to increasing personal disposable income and growing health consciousness among
general population are considered as some of the prominent growth factors.
The cosmetic preservatives industry is
broadly categorized into five major segments based on the application type such
as skin & sun care, hair care, toiletries, fragrances & perfumes, and
makeup & color. The skin & sunscreen care is considered as one of the
fastest growing segment in the cosmetic preservative market with substantial
revenue generation in the last few years. Growing popularity of cosmetic
preservative in the skin & sunscreen care segment is attributed to the
rising awareness associated with harmful effects caused by ultra-violet rays on
the skin. The toiletries segment has also witnessed substantial growth owing to
the increasing demand for soaps, face wash, shower gels, shaving creams, and
bath oils.
The cosmetic preservative industry is
divided by region as North America, Europe, Asia-Pacific, Latin America and Africa.
North America has shown major growth in recent years owing to the rise in the
implementation of latest technologies in cosmetics sector, increase in the
number of research & development activities in the region and existence of
well-established manufacturing infrastructure.
Asia-Pacific region is predicted to hold
major market share in the cosmetic preservatives market with massive growth in
forecast period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with rising demand for cosmetics, increasing awareness
associated with personal hygiene & cleanliness, growing disposable income,
and significant investment by leading industry players considering potential
growth opportunities in the region. The key players in the cosmetic
preservative industry are Ashland Inc., BASF SE, Clariant Co., The Dow Chemical
Co., Lonza Group Ltd., Akema Fine Chemicals Co., Symrise AG, Salicylates &
Chemicals Pvt., Ltd., Brenntag AG, and Chemipol S.A.
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