In terms of revenue, the Global Cosmetic Preservatives Market is expected to reach USD 562.9 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.00% from 2022 to 2028.
The expansion of this market is being driven by consumer lifestyle changes, an increase in personal hygiene awareness, and the widespread adoption of these goods around the world. In addition, the excessive use of synthetic chemicals due to their carcinogenic nature has led to an increase in the adoption of natural and organic product alternatives, which is expected to further fuel demand and growth for the global market in the years to come.
Key Developments in the Industry
· Taking over Schaffelaarbos, a major competitor in the European egg protein industry, Symrise AG in January 2022. It's a significant step for Symrise AG to continue its rapid global expansion in the pet nutrition sector. The cutting-edge facilities of Schaffelaarbos in Barneveld, NL, will aid in the company's ability to expand its capabilities in the United States as a result of the recent acquisition.
· In March 2022, Sharon Labs and RES Pharma Industriale, an Italian chemical producer in Trezzosull'Adda, reached a purchase agreement (RPI). The RPI acquisition is anticipated to close in March 2022, and Sharon Laboratories' Personal Care division will combine RPI's technology, R&D, production, commercial development, and customer service capabilities.
· Symrise AG purchased Giraffe Foods Inc. in December 2021. This Canadian company produced specialised sauces, dips, dressings, syrups, and beverage concentrates for B2B clients in the home meal replacement, food service, and retail sectors. As a result of this arrangement, the value chain is anticipated to advance significantly, allowing a larger client base in North America access to a wider variety of creative taste options. As a result of this relocation, Symrise's Flavor & Nutrition sector is anticipated to grow more quickly in the area.
· The Sabará family, who founded Beraca, will sell the remaining 30% of the Personal Care Specialties company to Clariant in August 2021. Since 2015, Clariant has owned 30% of the business. It's anticipated that the purchase price will remain a secret. Depending on regulatory approvals, the acquisition is anticipated to be completed in Q4 2021.
· The USD 42.9 billion merger of DuPont's Nutrition & Biosciences (N&B) and International Flavors & Fragrances Inc (IFF) was completed in February 2021, and the combined sector launched a redesigned brand.
Consumers' quality of life has increased over the past several years, increasing the population's purchasing capacity and, as a result, their demand for high-end cosmetics and natural personal care products. The industry for Cosmetic Preservatives is anticipated to grow more quickly as a result. Access to international brands is now made simple due to urbanization and technological advancements worldwide. Due to economic growth and the emergence of new means of product purchase that have mostly replaced conventional ones, the average spending capacity has multiplied.
In recent years, disposable income has soared. According to a report on Indian income published by the Reserve Bank of India, the gross national disposable income of the nation for the 2020–2021 fiscal year was USD 27, 17,345.34 million. The US Bureau of Economic Analysis estimates that the country's total disposable income in 2021 will be around 74,030,500 USD million. Due to the increased use of luxury goods in daily life brought on by this rise in disposable wealth, more cosmetic products are being consumed globally, fueling the expansion of Cosmetic Preservatives.
During the forecast period, the Cosmetic Preservatives market in North Americais anticipated to develop at the quickest rate. During the projected period, factors such as the region's expanding population and rapid industrialization will contribute to market expansion in the area. Also, the industry is expected to expand as a result of increased consumer demand for cosmetics and public awareness of personal cleanliness and hygiene. China and India are expected to have strong growth, followed by other South East Asian countries.
The Global Cosmetic Preservatives Market is Segmented as follows
- Paraben Esters
- Formaldehyde Donors
- Phenol Derivatives
- Quaternary Compounds
- Organic Acids & Their Salts
- Other Types
- Lotions, Facemasks, Sunscreens, & Scrubs
- Shampoos & Conditioners
- Soaps, Showers Cleansers & Shaving Gels
- Face Powders & Powder Compacts
- Mouth Washers & Toothpastes
- Other Applications
- Raw Material
- Raw Material
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Cosmetic Preservatives Market is
Lonza Group AG (Switzerland), Ashland Global (US), Arkema Chemicals (France), BASF Chemicals Company (Germany), DuPont de Nemours (US), Sharon Laboratories (Israel), Symrise AG (Germany), Thor Group Ltd (UK), Chemipol (Spain), Salicylate & Chemical Pvt Ltd. (India), Dadia Chemical Industries (India)
The Global Cosmetic Preservatives Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|