GVR Report cover Cosmetic Preservative Market Size, Share & Trends Report

Cosmetic Preservative Market Size, Share & Trends Analysis Report By Product (Paraben Esters, Formaldehyde Donors, Phenol Derivatives, Alcohols, Quaternary Compounds), By Application, And Segment Forecasts, 2016 - 2024

  • Report ID: 978-1-68038-907-4
  • Number of Pages: 135
  • Format: Electronic (PDF)

Report Overview

The global cosmetic preservative market size to be valued at USD 458.8 million by 2024 and is expected to grow at a compound annual growth rate (CAGR) of 6.0% during the forecast period. The growing trend of using natural cosmetic products is expected to help boost the growth of the global Cosmetic Preservative Market. The rapidly increasing demand for cosmetics in Asia Pacific is anticipated to augment market growth over the forecast period.

Cosmetic Preservative Market revenue, by product

The use of preservatives is vital in cosmetic products to prevent damage caused by microorganisms and to avoid contamination during the utilization of the product. The increasing preference given to herbal ingredients in cosmetics is expected to boost the demand for organic preservatives over the coming years.

In 2004, a study conducted by the National Cancer Institute (NCI) claimed that parabens in underarm deodorants caused cancer, this reduced the demand for parabens in the cosmetic market. However, the NCI did not have any substantial evidence to support its claim. Therefore, the paraben preservative market is projected to grow at a significant CAGR from 2016 to 2024.

Cosmetic Preservative Market Trends

Rising awareness of the benefits of using skin care products, combined with expansion in the e-commerce. Besides, the increased product demand for skin care product manufacturing is contributing to the market expansion. Furthermore, the rise in consumer preference for natural-ingredient cosmetic products drives product demand for the skincare applications.

The demand for functional cosmetics such as anti-aging and sun care products drives the market demand in the forecast period. Antioxidants like ascorbic acid, vitamin E, and essential oils play an important role in preventing the oxidation of oil base formulations and active ingredients that drives the product demand.

The use of harmful chemicals as preservatives in cosmetic products limits the market growth. Health issues associated with these chemicals such as endocrine disruption, cancer, and toxicity, are expected to limit the market growth. Furthermore, strict government regulations on the manufacturing of these toxic chemicals impede the growth of this market.

The urbanization in emerging economies and an increase in the female working population in countries such as China, India, and Korea are the major factors for the further development for the cosmetics preservative market. The factors such as awareness for the betterment and the pursuit for an elegant lifestyle in urbanites is playing a key role in the growth of the market.

Product Insights

On the basis of product, the market is divided into, paraben esters, formaldehyde donors, phenol derivatives, alcohols, quaternary compounds, and organic acids. Phenol derivatives dominated the Cosmetic Preservative Market in 2015. The increasing use of phenol derivatives, especially phenoxyethanol, in the preparation of cosmetics such as skin lightings creams & lotions, hair coloring solutions, and sunscreens is anticipated to drive the market growth from 2016 to 2024.

Increasing demand for natural ingredients in cosmetics is expected to boost the growth of organic preservatives. The demand for organic preservatives such as clove, cinnamon, tea tree, lavender, rosemary, and other essential oils & herbs are expected to grow at a high CAGR over the forecast period.

The paraben esters product segment was valued at USD 45.9 million in 2015 and is expected to grow at an estimated CAGR of 6.1% over the forecast period. In 2015, the alcohol product segment occupied an around 12.59% revenue share of the global cosmetic preservatives market.

Application Insights

Skin & sunscreen is expected to dominate the cosmetic preservatives application market. It is projected to account for 40.24% of the overall demand for cosmetic preservatives. The growing awareness of the harm caused by ultra-violet rays on the skin is anticipated to boost this application segment.

Toiletries which are inclusive of soaps, face wash, shower gels, shaving creams, and bath oils, are projected to account for the second-largest application segment in 2015. Increasing awareness of personal hygiene among the Asia Pacific population is expected to spur the demand for toiletries in this region.

Cosmetic Preservative Market revenue, by application

The fragrances & perfumes application segment was worth USD 21.5 million in 2015 and is anticipated to reach USD 34.8 million by 2024 growing at an estimated CAGR of 5.5% over the forecast period.

Regional Insights

Asia Pacific market led the global cosmetic preservatives industry with demand share exceeding 34% in 2015. Growing demand for cosmetics and increasing awareness related to personal hygiene & cleanliness is expected to boost market growth in this region. China and India are projected to experience vigorous growth followed by other South East Asian countries.

Cosmetic Preservative Market Trends by Region

Europe is expected to account for the second-largest share of the market. The market in Europe is driven by countries such as Germany, the UK, France, Italy, and Spain. Germany is projected to grow at the highest CAGR over the forecast period on account of the increasing production of premium cosmetic products.

North America and Central & South America accounted for a total of 32.45% of the market. The American Cosmetic Preservative Market is dominated by multinational companies such as Ashland Inc. and Dow Chemical Company. These companies invest huge amounts in research & development activities and have a strong distribution channel which gives them a competitive edge over the market.

Key Companies & Market Share Insights

The Cosmetic Preservative Market is fragmented with many small manufacturers and few multinational companies that are involved in constant product innovation and research activities to boost their product offerings.

Recent Developments

  • In April 2022, Ashland released biodegradable and nature-derived personal care solutions innovations at in-cosmetics global in France and Paris. Ashland launched a variety of products such as Styleze es-dura, Caressense biofunctional, Sensiva,Texturpure sa-1 the first in series of high-performing natural, nature-derived, and biodegradable skin and hair care products

  • In February 2022, BASF is investing highly in its strategic partner B2B Cosmetics to expand its customized personal care product technology.BASF and B2B Cosmetics have continued to develop the Emuage technology, a system that provides users with fresh-made, individualized cosmetics. Emuage technology enables users to design their own personalized personal care products.

  • In June 2022, Dow entered in an agreement with EcoSynthetix in order to expand its bio-based offerings in the personal care market.The partnership is initially aimed for offering consumers unrivaled benefits. The collaboration enables the companies to capitalize on their core functionalities by meeting the growing consumer demand for biodegradable and bio-based technologies that provide distinct and high-performance benefits.

Key companies operating in this industry include Ashland Inc., BASF SE, Clariant AG, The Dow Chemical Company, Lonza Group Ltd., Akema Fine Chemicals, Symrise AG, Salicylates & Chemicals Pvt. Ltd, Brenntag AG, and Chemipol.

Cosmetic Preservative Market Report Scope

Report Attribute

Details

Market size value in 2019

USD 340.6 million

Revenue forecast in 2024

USD 458.8 million

Growth Rate

CAGR of 6.0% from 2016 to 2024

Base year for estimation

2015

Historical data

2014

Forecast period

2016 - 2024

Quantitative units

Revenue in USD million and CAGR from 2016 to 2024

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; Germany; France; China; India; Japan; Brazil; Turkey

Key companies profiled

Ashland Inc., BASF SE, Clariant AG, The Dow Chemical Company, Lonza Group Ltd., Akema Fine Chemicals, Symrise AG, Salicylates & Chemicals Pvt. Ltd, Brenntag AG, and Chemipol.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Cosmetic Preservative Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the cosmetic preservative market on the basis of product, application, and region.

Global Cosmetic Preservative Market Segmentation

  • Product Outlook (Revenue, USD Million, 2014 - 2024)

    • Paraben esters

    • Formaldehyde donors

    • Phenol derivatives

    • Alcohols

    • Quaternary compounds

    • Organic acids

    • Others

  • Application Outlook (Revenue, USD Million, 2014 - 2024)

    • Skin & sun care

    • Hair care

    • Toiletries

    • Fragrances & perfumes

    • Makeup & color

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2024)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America

      • Brazil

    • Middle East and Africa

      • South Africa

      • Turkey

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