Cosmetic Preservatives Market Size to Hit $846.44 Million, Globally at 4.6% CAGR by 2031 - Exclusive Report by The Insight Partners

NEW YORK, Dec. 2, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global Cosmetic Preservatives Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031 is observing significant growth owing to increased consumption of skincare and makeup products and manufacturers' awareness of product safety.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the cosmetic preservatives market focuses on an array of industrial applications that are expected to determine the market strength in the coming years.

The report from The Insight Partners, therefore, provides several stakeholders—including raw material suppliers, manufacturers, distributors, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

Key Cosmetic Preservative Companies:

• Ashland Group Holding Inc
• BASF SE,
• Arkema S.R.I
• Symrise AG,
• Evonik Industries,
• Clariant AG,
• Salicylates & Chemicals Pvt Ltd
• International Flavors & Fragrances Inc
• Sharon Laboratories,
• The Dow Chemical Company,
• Dadia Chemical Industries,
• Brenntag AG,
• Finetech Industry Limited,
• Thor Group Ltd.,
• The Procter & Gamble Company

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Overview of Report Findings                          

1. Market Growth: The cosmetic preservatives market is expected to reach US$ 846.44 million by 2031 from US$ 591.75 million in 2023; it is anticipated to register a CAGR of 4.6% during the forecast period. Cosmetic preservatives are additives that reduce or inhibit the growth of microbes, bacteria, mold, and fungi, increasing the product's shelf life and minimizing product loss. Cosmetic preservatives are natural and synthetic. Parabens, formaldehyde releasers, quaternary compounds, phenolic derivatives, and organic acids are the commonly used cosmetic preservatives. The rising demand for personal care and cosmetic products such as moisturizers, cleansers, sunscreens, shampoos, hair conditioners, oral care products, body washes, soaps, and perfumes is driving the cosmetic preservatives market. With the rising concerns regarding the harmful properties of synthetic preservatives, consumers are shifting toward natural or naturally derived preservatives that are nontoxic and gentle for the skin.
2. Increased Consumption of Skincare and Makeup Products: In recent times, awareness regarding skin health and appearance has increased significantly among consumers across the globe. Consumers seek skincare and makeup products that make their skin appear healthy and radiant due to increased consciousness regarding appearance in social settings. Moreover, the rising disposable income of consumers increases their purchasing power. The rise in expenditure on skincare and makeup products plays a major role in boosting the business of the cosmetic and personal care industry worldwide. As per World Bank data, consumer expenditure in India increased from US$ 1.9 trillion in 2018 to US$ 2.4 trillion in 2022. According to the survey data published in the Journal of Emerging Technologies and Innovative Research (JETIR), on average, 65% of consumers purchase 1 to 3 cosmetic products every month in 2023.
3. Manufacturers' Awareness of Product Safety: The popularity of cosmetic and personal care products is growing, leading to an urgent need to ensure the safety and effectiveness of these products. As the majority of the products are water-based, with a lower shelf-life, the risk of microbial contamination is high. Bacteria, yeast, and other microbes cause organoleptic changes such as variations in color, viscosity, and unpleasant odors. Cosmetics are exposed to contamination by microorganisms and can cause many issues, such as skin and eye infections. To avoid such issues, the manufacturers are significantly using preservatives to avoid microbial contamination as well as enhance the shelf life of the final product.
4. Geographical Insights: In 2023, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.

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Market Segmentation

• Based on source, the cosmetic preservatives market is bifurcated into natural and synthetic. The synthetic segment held a larger share of the market in 2023.
• In terms of product type, the cosmetic preservatives market is categorized into parabens, formaldehyde releasers, organic acids, quaternary compounds, phenol derivatives, alcohols, and others. The organic acids segment held the largest share of the market in 2023.
• In terms of application, the cosmetic preservatives market is segmented into hair care, skincare, makeup products, toiletries, perfumes and deodorants, and others. The skincare segment dominated the market in 2023.
• The cosmetic preservatives market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.

Competitive Strategy and Development

• Key Players: A few major companies operating in the cosmetic preservatives market are Ashland Inc; BASF SE; Clariant AG; Evonik Industries AG; Lanxess AG; Symrise AG; Tate & Lyle Plc; INEOS Group Holdings SA; Biosynth AG; Valtris Specialty Chemicals Inc; Sharon Group; CHEMIPOL, S.A.; SEIWA KASEI Co, Ltd.; and Celanese Corp.
• Trending Topics: Functional cosmetics, natural cosmetic ingredients, skincare products, and cosmetic polymer ingredients, among others.

Global Headlines on Cosmetic Preservatives

• SEIWA KASEI Co, Ltd. Launched a New Ingredient, Vistanol GDHR-Pure. It is a 100% Plant-derived Oil
• CHEMIPOL Obtained COSMOS V4 Certification from ECOCERT Greenlife for the Key products in the SENSICARE C, SENSICARE FP, and SENSICARE NAT Ranges
• SHARON Launched AQUAVITA, a Revolutionizing Preservation
• Symrise launched Hydrolex E, a Multifunctional Solution to Protect Modern Cosmetic Formulations

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Conclusion

To meet the evolving consumer demand for advanced personal care and cosmetic products, manufacturers are introducing highly innovative products and formulations. This includes advancements in skincare, haircare, color cosmetics, and other personal care products. These advancements and expansions in product manufacturing boost the demand for cosmetic ingredients such as preservatives. Cosmetic preservatives such as parabens, formaldehyde releasers, phenol derivatives, and organic acids are among the essential ingredients in cosmetics and personal care formulations. They act as antimicrobial agents, antioxidants, and stabilizers and enhance the shelf life of the final product. Thus, increased consumption of skincare and makeup products drives the cosmetic preservatives market. Further, the US Food and Drug Administration (FDA), the European Union (EU), and other government-led agencies have established regulations governing cosmetic product safety and efficacy. Preservatives in cosmetics are essential to prevent alterations caused by microorganisms and contamination during formulation, shipment, storage, or consumer use. Antioxidants, which are present in cosmetic preservatives, can also be utilized as protection against alterations caused by oxygen exposure. Thus, increasing awareness about cosmetic products' safety among manufacturers fuels the cosmetic preservatives market growth.

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