by The global cosmetic preservatives market, which exceeded a valuation of approximately US$400 billion in 2021, is expected to witness a robust growth trajectory in the coming years. The use of preservatives in maintaining the shelf stability of cosmetic products is set to be a driving force behind this market expansion.
Preservation for Health and Freshness
In an era of evolving health trends, preservatives have often been perceived negatively by consumers. However, they have long played a crucial role in preserving perishable products. This significance extends to the cosmetics and personal care industry, where a certain percentage of preservatives is incorporated into products such as skincare lotions, makeup, and creams. Preservatives enhance the overall shelf life of these products, ensuring their hygiene, safety, and freshness for consumers.
Cosmetic and personal care products contain various specialty ingredients, many of which are susceptible to microbial contamination, making them highly perishable. The absence of preservatives could lead to the growth of microorganisms, including bacteria, yeasts, and fungi, which not only compromises product efficacy but also poses potential risks to consumers. As per the US FDA, the absence of preservatives in cosmetic products can render them unsuitable for application. Therefore, the demand for preservatives, particularly antimicrobial and antioxidant preservatives, is expected to rise in the cosmetic industry, bolstering the cosmetic preservatives markets growth.
Natural Preservatives Gaining Ground
Consumers are increasingly gravitating toward natural and organic products, and this trend is influencing the adoption of natural preservatives in cosmetics. Natural cosmetic preservatives offer several advantages, including suitability for sensitive skin, absence of skin irritation or rashes, and minimal abrasiveness with no side effects. They also lack harmful substances that trigger allergic reactions, making them a preferred choice among consumers. This preference for natural preservatives is opening new avenues for the cosmetic preservatives market.
Elevated Standard of Living as a Catalyst
The use of cosmetic products has been on the rise as consumers become more conscious of their physical appearance and the benefits of cosmetics. Cosmetics and beauty products are no longer limited to young women but are gaining traction among males and the elderly. The increasing awareness of the adverse effects of sun radiation on the skin has led to higher demand for products such as sunscreen lotions and creams, cleansers, and toners. Additionally, anti-aging creams and moisturizers are in demand due to the growing aging population globally, driving the need for anti-wrinkling agents and other anti-aging solutions.
As economic stability, urbanization, and technological innovations continue to advance the cosmetics industry, consumers are increasingly interested in advanced cosmetic products with effective formulations. With improved standards of living, individuals are focusing on enhancing their presence and aesthetics, leading to greater consumption of cosmetic and personal care products, thus indirectly stimulating the cosmetic preservatives markets growth.
Key Players and Regional Dominance
Among the different types of cosmetic preservatives, quaternary compounds, including ingredients such as cetrimide, benzethonium chloride, benzalkonium chloride, and cetrimonium bromide, are expected to experience significant demand growth. These compounds effectively prevent microbial growth and protect products from the reproduction of microorganisms under varying weather conditions and temperatures, contributing significantly to the cosmetic preservatives markets value and volume growth.
North America is anticipated to remain a dominant region in the global cosmetic preservatives market, driven by robust growth in the cosmetic and personal care industry, increased awareness of organic ingredients, and the rising popularity of natural preservatives. The regions strong economic growth and rising GDP per capita further support market expansion.
Key Market Players
Major players in the global cosmetic preservatives market include Ashland Group Holding Inc., Symrise AG, BASF SE, Sharon Laboratories, Evonik Industries, Arkema S.r.l, International Flavours & Fragrances Inc., Dadia Chemical Industries, and Brenntag AG.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/cosmetic-preservatives-market
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This press release first seen on Brilad
COMTEX_442320040/2840/2023-10-23T08:21:15
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.