The global cosmetic preservatives market size was worth US$ XX billion in 2022 and is predicted to show significant growth by reaching up to US$ XX billion by 2029, growing at a CAGR of XX% between the forecast period (2022-2029).
Cosmetic preservatives apply to different ingredients explicitly added to prevent microorganisms and contamination during the cosmetic product's formulation, packaging, storage or usage. In most goods, preservatives are important for preventing product harm caused by microorganisms and protecting the product from inadvertent consumer contamination during use. An antimicrobial is called an ingredient that protects the product from microorganism growth. Without preservatives, cosmetic products, just like food, can become contaminated, leading to product spoilage and possibly irritation or infections. Considerable problems can be caused by microbial contamination of goods, especially those used around the eyes and on the skin.
Preservatives help avoid issues like that. Natural versions, such as oil extracts of curry leaves, cinnamon and clove buds, and synthetic variants, including parabens, organic acids, formaldehyde releasers, phenoxyethanol and isothiazolinones, etc., are some of the widely available cosmetic preservatives. Personal care products, such as face masks, lotions, sunscreens, scrubs, hair conditioners, soaps, face powders, are usually applied to them.
Source: DataM Intelligence Analysis (2021)
The global cosmetic preservatives market is driven by improving the population's inclination towards self-care with up-gradation in cosmetic product quality and increasing beauty awareness among users. The growing demand of consumers towards natural products over synthetic is another factor adding value to the cosmetic preservatives market. Increasing investment of companies on R&D projects to bring the latest beauty care product creates immense opportunities for the cosmetic preservatives market to proliferate in the forecast period.
Improving inclination of population towards self-care with up-gradation in cosmetic products quality and increasing beauty awareness among the user
Earlier personal care and cosmetics were termed to be one of the biggest luxuries; however, it referred to be a major part of our lifestyle in recent times. Besides, the trend of personal grooming is popular among the young population and catching up with people from all generations. However, in recent times self-grooming is popular, whether it be an elderly person or an adult. This growing self-care is more likely to accelerate the cosmetics industry. The key players are adopting different methods to develop preservatives to improve the shelf life of the product. Cosmetic goods can easily get infected by fungi and bacteria because of the water and oil content. To avoid skin infections and other issues, cosmetic preservatives are typically added as antioxidants, antimicrobials and stabilizers, thereby positively affecting the market for items. Another growth-inducing factor is numerous product developments, such as phenol derivatives as an efficient alternative to parabens. Manufacturers are emphasizing producing cosmetics with improved shelf-life and organic preservatives to minimize the risks of contamination.
For instance, in October 2018, The Dow Microbial Control launched two new product lines within its Neolone personal care preservatives portfolio. Neolone is a bio-based naturally derived ethyl lauroyl Arginate and Neolone PH phenoxyethanolblends. Both product lines reflect Dow's dedication to helping formulators, manufacturers, and brand owners overcome the modern personal care industry's challenges.
The growing demand of consumers towards natural products over synthetic is another factor adding value to the cosmetic preservatives market.
Earlier synthetic preservatives were customers' first choice due to the product's high efficiency and good shelf life. However, rising concerns regarding synthetic chemicals pertaining to their safety and carcinogenic nature have promoted natural and organic alternatives that may favor the cosmetic preservatives market. Natural preservatives, including natural antioxidants, herbal extracts, organic acids, and natural oils, are expected to grow during the forecast timeframe. Antifungal and antibacterial activity is evidenced by essential oils like thyme, neem, lime, rosemary, clove and lavender. It also helps to balance the shelf life of goods with the use of less preservatives. Thus, due to less side effects and better natural preservatives, the cosmetic preservative industry creates immense opportunities to build a larger market share in the coming future.
For instance, in May 2020, BASF released five active ingredients for cosmetic and body care products approved as organic by COSMOS-standard. This includes the active ingredients Dulcemin derived from sweet almond seed flour, Lipofructyl derived from argan oil, and the skincare ingredient Elestan derived from the Manilkara tree leaves in West Africa.
Limited protection and comparative to synthetic preservatives less effectiveness of natural preservatives are severely hampering the cosmetic preservatives' growth in recent times.
Cosmetic preservatives offer various advantages in different cosmetic products, and changing customer lifestyle has uplifted the market of cosmetic preservatives over the past few years. However, both synthetic and natural preservatives have shown one or the other disadvantages of hampering the market's growth in the forecast period. The primary disadvantage of natural preservatives is they do not cover a wider spectrum of protection. Among the most effective natural preservatives are essential oils and various herbs such as rosemary, cinnamon, tea tree, clove, thyme, lavender, neem, grape seed, etc., which more organism-specific than their synthetic counterparts are. However, natural preservatives may be effective against one organism only, but not another, and they must be carefully blended to create a synergistic effect against a range of organisms. Thus limited protection and comparative to synthetic preservatives less effectiveness of natural preservatives are severely hampering the product's growth in recent times.
COVID-19 Impact Analysis
The global cosmetic preservative has shown a slight decline due to the COVID-19 pandemic, as several manufacturing plants were shut for months. Further several countries have restricted production activities during the covid-19 pandemic. The major lockdown due to the COVID-19 outbreak leads to suddenly dropping down consumers' interest towards purchasing any goods, and halt in transportation sectors has severely hampered the business of cosmetic preservative market due to disruption in the product's supply chain management. This may lead to declining profits of the manufacturers, which may impact the cosmetic preservatives demand manufacturing the end product
The global cosmetic preservative market is segmented based on product, application and region.
Growing awareness of the harm caused by ultra-violet rays on the skin and the impact and damage that the sun has on unprotected skin is expected to accelerate the skin and sun care segment's growth in the forecast period.
In terms of application, the global cosmetic preservative market is bifurcated into the skin and sun care, fragrances and perfumes, hair care, toiletries, makeup and color. Skin & sunscreen is dominating the cosmetic preservative market. Due to growing awareness of the harm caused by ultra-violet rays on the skin, it is anticipated to boost this application segment. The use of sunscreen increases due to global awareness regarding the impact and damage that the sun has on unprotected skin. The segment offers advantages such as sunscreen products' primary purpose to prevent or minimize deleterious effects of solar and UV radiation on the skin. Among these effects are actinic aging and skin cancer. Secondary benefits include moisturization and reduction of UV-induced melanization on sun-exposed skin. Today, the sun care formulator must meet high SPF and demanding UVA protection standards while also making products sufficiently elegant to encourage consumer compliance and sufficiently cost-effective to be affordable in difficult economic times.
For instance, in August 2019, Beiersdorf announced the acquisition of an iconic sun care brand -Coppertone. Sun protection has been a major pillar of Beiersdorf’s skincare business for more than 80 years. As a result of the acquisition, the company will bring together three of the world's top sun care brands under one roof: NIVEA Sun, Eucerin, and Coppertone.
Source: DataM Intelligence Analysis (2021)
Growing demand for cosmetics and increasing knowledge of personal hygiene & cleanliness are expected to fuel the Asia-Pacific market growth. In the coming years, China and India, followed by other Southeast Asian nations, are projected to experience vigorous development.
Asia-Pacific region is dominating the global cosmetic preservatives market in recent times. In this area, growing demand for cosmetics and increasing knowledge of personal hygiene & cleanliness is expected to fuel market growth. In coming years, China and India, followed by other South East Asian nations, are projected to experience vigorous development. Rising incorporation in sunscreen lotions, anti-aging crèmes, conditioners, and shampoos is creating immense opportunities for cosmetic preservatives to build a huge market share. Growing awareness among the population regarding synthetic chemicals pertaining to their safety and carcinogenic nature has promoted natural and organic alternatives, which may favor the growth of the cosmetic preservatives market in the forecast period.
North America is expected to show the fastest market growth in terms of revenue over the forecast period, owing to rising demand for cosmetics among individuals due to increasing awareness about beauty products in various countries in this region. The market in Europe is projected to expand significantly over the forecast period, owing to increasing health consciousness among individuals, rising awareness of cosmetics preservatives, and increasing demand for hair gels, facial creams, anti-aging creams and others.
Source: DataM Intelligence Analysis (2021)
The cosmetic preservatives market is highly fragmented with the presence of local as well as global companies. Some of the key players contributing to the market's growth include The Dow Chemical Company, Penta Manufacturing Company, LLC, Akema Fine Chemicals, Finetech Industry Limited, Ashland Inc, BASF SE, Spectrum Chemical Manufacturing Corporation, Jinan Haohua Industry Co., Ltd, AE Chemie, INC, StruChem Co., Ltd., Evonik and among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the global cosmetic preservatives market. Key players are favoring product launch as the growth strategy to build revenue for their business.
Overview: Evonik Industries AG is a stock-listed German specialty Chemicals Company based in Germany. It is the second-largest chemicals company in Germany and one of the world's largest specialty chemicals companies. Evonik is active in over 100 countries worldwide with more than 36,000 employees with production facilities in 28 countries on five continents and is therefore close to markets and customers.
Product Portfolio: The company has a product portfolio of cosmetic preservatives includes:
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The global cosmetic preservatives market report would provide access to an approx: 53 market data table, 45 figures and 201 pages.
Target Audience 2022
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