Global Cosmetic Preservatives Market Size to grow USD 1901.3 Million by 2030 | CAGR of 8.4%

Category: Specialty & Fine Chemicals

RELEASE DATE Oct 2022
REPORT ID SI1166

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Cosmetic Preservatives Market worth over $1,901.3 Mn by 2030

 

According to a market statistics analysis report, the Global Cosmetic Preservatives Market size is set to surpass USD 1,901.3 million by 2030, according to a new research report published by Spherical Insights & Consulting.

 

The report identifies that cosmetic preservatives are expanding in response to the rising demand for diverse products such as lotions, shampoos, sunscreens, and hair oils. Factors including shifting lifestyles, growing awareness of personal hygiene, and purchasing power are anticipated to propel market expansion during the projected period. The availability of less expensive alternatives to cosmetic preservatives and the strict regulations governing the labeling of cosmetic components are two obstacles that limit the market's expansion. In recent years, disposable income has soared. The Indian government's gross national disposable income for the 2020–2021 period was 27,17,345 USD million, according to the Reserve Bank of India's report on income. The US Bureau of Economic Analysis estimated that the country's total disposable income will be around 74,030,500 USD million in 2021. The market for cosmetic preservatives is expanding as a result of the rise in disposable income, which promotes the use of luxury goods in daily life and the consumption of cosmetic products worldwide.

 

Cosmetic Preservatives Market

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Opportunities for the development of the natural cosmetic preservatives business are predicted as consumer awareness of the negative skin effects of artificial preservatives rises.

Natural cosmetic preservatives are anticipated to observe a growth of 15% during the forecast period. The demand for clean and organic products from consumers is expected to increase, which will boost the market for natural cosmetic preservatives. Modern liquid cosmetic formulations have rich ingredients that are exposed to the bacterial skin flora, which creates the perfect habitat for microbial growth. Essential oils with antifungal and antibacterial properties, like thyme, neem, orange, rosemary, clove, and lavender, can balance product shelf life and stop microbial growth. Organic acids are frequently used to stop the growth of fungus-related microbes, primarily in water-based formulations. Sorbic acid shields cosmetics and personal care items by preventing and slowing the growth and reproduction of germs. Demand for natural preservatives is also predicted to increase due to strict regulatory guidelines on the restricted use of synthetic preservatives.

 

Demand for products used in skincare applications is predicted to increase due to consumers' growing preference for organic cosmetic ingredients.

The application cosmetic preservatives segment's skincare market is projected to grow at 12% gains through 2030. The business environment is predicted to be driven by increased customer preference for maintaining youthful skin and rising demand for skin care goods such body lotions, sunscreens, and moisturisers. The demand for skincare goods is being driven by consumers' growing awareness of the importance of sun protection and anti-aging skincare products. These elements are projected to increase product demand for skincare applications and consequently raise market statistics as a whole. Growing e-commerce and increased consumer knowledge of the advantages of utilising skin care products should increase the demand for skin care product production, which will help the market develop.

 

Browse key industry insights spread across 198 pages with 108 market data tables and figures & charts from the report “ Global Cosmetic Preservatives Market Size By Product (Natural and Synthetic), Application (Haircare, Skincare, Baby products, Wet Wipes & Perfume, Toiletries, and Others), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents: https://www.sphericalinsights.com/reports/cosmetic-preservatives-market

 

North America region emerges as a prominent revenue pocket

North America’s cosmetic preservatives market accounted for USD 331.2 million in 2021. The market for cosmetic preservatives in the North America region has been expanding as more people are choosing vegan, natural, and organic cosmetic products. Regional need for natural cosmetic preservatives should increase due to the high desire for organic beauty products to counteract the detrimental effects of sun, dust, and other elements. The market for natural cosmetic preservatives is expected to increase as a result of firms moving faster toward sustainable supply chains as a result of the COVID-19 pandemic. The need for synthetic cosmetic preservatives may increase due to the fact that chemical compounds are more affordable than natural ones.

 

Cosmetic Preservatives Market

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The Asia Pacific market is expected to grow at a significant CAGR over the forecast period, owing to the population that is fashion-conscious combined with an increase in spas and salons. These regions’ growth is also aided by the rising millennial population there. The regional market will grow due to the abundance of raw materials and the rise of the dairy industry. The proliferation of food manufacturers along with convenient transportation and storage options made possible by interconnected networks will hasten regional market expansion even more. Moreover, it is anticipated that the demand for the product will be fuelled by the quick rise of emerging markets including skincare kits, anti-agers, and face masks.

 

Product launches to remain a key growth strategy

The strategic landscape of the cosmetic preservatives industry will observe a rise in demand The market demand over the forecast period is driven by consumer need for cosmetics with practical uses, such as anti-aging and sun care products. Antioxidants such as ascorbic acid, vitamin E, and essential oils are crucial in preventing the oxidation of oil base formulations and active components, which is what drives the demand for the product. The market expansion of cosmetic items is constrained by the usage of hazardous chemicals as preservatives. The market expansion is anticipated to be constrained by health problems related to these compounds, such as endocrine disruption, cancer, and toxicity. The development of this sector is further constrained by stringent government regulations on the production of these dangerous compounds. During the projected period, the market is probably going to be driven by an increase in the number of working women in China and India.
 

Key participants operating in the cosmetic preservatives market are Brenntag AG, Lonza, Penta Manufacturing Company, Forbes Pharmaceuticals, Thor Group Ltd, Indian Spice Oil Industries, Expo Essential Oils, Chemipol, Clariant AG, Ashland, BASF, Sharon Laboratories, Dadia Chemical Industries, Gujarat Organics Limited, and Symrise AG.

 

Related Report:

Global Asia Pacific Cosmetic Preservatives Market Research Report by 2030

Global Composite Resin Market Analysis Forecast 2030

 

Contact Us: https://www.sphericalinsights.com/contact-us

Frequently Asked Questions (FAQ)

  • What is the market size of the global cosmetic preservatives market?
    As per Spherical Insights, the size of the global cosmetic preservatives market was valued at USD 920 million in 2021 to USD 1,901.3 million by 2030.
  • What is the market growth rate of the cosmetic preservatives market?
    The global cosmetic preservatives market is growing at a CAGR of 8.4% from 2021-2030.
  • Which region dominates the global cosmetic preservatives market?
    North America emerged as the largest market for cosmetic preservatives.
  • What is the significant driving factor for the cosmetic preservatives market?
    The growth of various applications such as lotions, shampoos, sunscreens, and hair oils will influence the market's growth.
  • Which factor is limiting the growth of the cosmetic preservatives market?
    Stringent government regulations could hamper the market growth.
  • Who are the key players in the Asia Pacific cosmetic preservatives market?
    Key players of the cosmetic preservatives market are Brenntag AG, Lonza, Penta Manufacturing Company, Forbes Pharmaceuticals, Thor Group Ltd, Indian Spice Oil Industries, Expo Essential Oils, Chemipol, Clariant AG, Ashland, BASF, Sharon Laboratories, Dadia Chemical Industries, Gujarat Organics Limited, and Symrise AG.

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